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NAMA HOLDINGS, LLC v. RELATED WMC LLC

C.A. No. 7934-VCL.

NAMA HOLDINGS, LLC, Plaintiff, v. RELATED WMC LLC, THE RELATED COMPANIES, L.P., and WMC VENTURE, LLC, Defendants.

Court of Chancery of Delaware.

Decided: November 17, 2014.

Attorney(s) appearing for the Case

Stephen C. Norman , T. Brad Davey , Jordan A. Braunsberg , POTTER ANDERSON & CORROON LLP, Wilmington, Delaware; Attorneys for Plaintiff NAMA Holdings, LLC.

William M. Lafferty , Kevin M. Coen , MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; Stacie E. Tobin , VENABLE LLP, Baltimore, Maryland; Attorneys for Defendants Related WMC LLC, The Related Companies, L.P., and WMC Venture, LLC.

MEMORANDUM OPINION

LASTER, Vice Chancellor.

In 2006, NAMA Holdings, LLC ("NAMA") gave notice to Related WMC LLC ("Related Sub") that NAMA had disputes with entities controlled by Shawn Samson and Jack Kashani. Related Sub had agreed to hold any funds in dispute while the competing claimants pursued arbitration. As a result, Related Sub came to hold approximately $11.8 million in a segregated account (the "Disputed Amounts").

In 2009, an arbitral...

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