WASHINGTON, Sept. 12, 2011 /PRNewswire/ -- Following unsuccessful attempts to resolve the dispute amicably, Artisan Gateway, Ltd. announced today that it has served a Demand for Arbitration against EPT East, Inc. ("EPT"), a subsidiary of Kansas City-based Entertainment Properties Trust (NYSE: EPR). The Demand for Arbitration, initiated under the auspices of the American Arbitration Association in New York City, seeks damages for fraud and breach of contract, along with requests for an accounting and declaratory relief.
The dispute stems from EPT's 2008 engagement of Artisan Gateway – a leading film and entertainment business consultant with operations in Hong Kong, Shanghai and Singapore – to advise and represent EPT in connection with its entry into the Asia theatre properties market. The Demand for Arbitration asserts that Artisan Gateway ("AG") introduced EPT to joint venture partners in China, with whom EPT is now involved in various theatre projects, and that EPT intentionally misled AG regarding EPT's ongoing activities with at least one such partner to avoid paying AG certain compensation components on projects. EPT is also alleged to refuse to pay for other services provided by AG.
"It seems unconscionable that a multi-billion-dollar company like Entertainment Properties Trust would take full advantage of introductions from a smaller, specialized firm like Artisan Gateway, then try to conceal the extent of its subsidiary operations in China to avoid paying Artisan Gateway's percentage," said Robert R. Amsterdam of Amsterdam & Peroff LLP, co-counsel for Artisan Gateway in the arbitration. "It is not unreasonable to expect the highest standards of conduct from a prominent U.S. real estate investment trust, regardless of where it does business in the world."
Amsterdam & Peroff LLP is recognized for its representation of such notables as Four Seasons Hotel Group, Thaksin Shinawatra, Mikhail Khodorkovsky, Oxus Gold plc and Mina Corp. Robert R. Amsterdam blogs at http://robertamsterdam.com/. Amsterdam & Peroff LLP is joined in its representation of Artisan Gateway by co-counsel David S. Wachen of Shulman, Rogers, Gandal, Pordy & Ecker, P.A.
SOURCE Amsterdam & Peroff LLP