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Bloomberg: NY Beach Town Reaches Tentative Deal on US$140 Million Judgment

December 23, 2021

The city of Long Beach, NY has reached a US$75 million tentative settlement with a developer who was awarded a US$140 million judgement earlier this year. As part of the agreement, the city will pay the developer US$75 million and permit the construction of two, 13-story buildings. The city will vote to approve the agreement on December 28, 2021. O’Melveny & Myers LLP helped negotiate the agreement.

Bloomberg subscribers can read the full article here.