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Re: Manhattan Club Lawsuit (by Nathan Z.):

I am reluctant to retain counsel to bring suit at this point. Unless I have misunderstood, the AG has ordered the MC management to sell within three years of the settlement. Unfortunately, the AG cannot order someone else to buy. So nothing will happen until a buyer is found or the settlement Administrator forces a sale three years out. If a sale is forced earlier by Mr. Zimmerman, it will be designed to benefit him and his clients, not owners who have not retained him. So a forced sale might help his clients collect their damages if they win their suit; it might benefit Mr. Zimmerman if he is compensated for negotiating the sale of a prime piece of Manhattan real estate; but it may actually leave the rest of us even worse off.