Monday, January 28, 2008

Today's Salander News

Philip Boroff has the latest:

"RFR Realty LLC, controlled by developer and art collector Aby Rosen, has asked [the Salander] bankruptcy judge to give it possession of the 1922 neo-Italian Renaissance mansion that Salander-O'Reilly leases. In court papers, RFR said the gallery's late rent payments triggered the landlord's option to terminate the lease. RFR also seeks immediate payment of $795,698 in rent that it says has accrued since Salander- O'Reilly filed for bankruptcy protection in November. Joseph Sarachek, the chief restructuring officer that Salander-O'Reilly hired in November, said the gallery will contest the motion."