The court had previously heard how an environmental health officer visited the Morgans' house following the complaint to monitor noise.
Dreaded by many neighbors because of its out-of-scale height (25 stories) but anxiously-awaited by insatiable luxury-hotel fans, the glimmering glass Mondrian Soho tower opened to the public Tuesday, and I popped in yesterday to see how it measured up both to downtown fears and to other fanciful properties of the Morgans Hotel Group, otherwise known as the original chic-boutique hoteliers.
But Philips South Beach claims that the whole time Morgans was improving the Shore Club, it was enriching the Delano even more.
The original Morgans was renovated in 2008, acquiring such very contemporary trappings as an overhead LED display, but also a lighter color palate a few shades removed from nightclub-dusky.
But just two months later, following a 3-3 draw away to Red Star Belgrade which took his side into the semi-finals of the European Cup, Morgans was aboard the AS-57 Ambassador which crashed on take-off from Munich airport on the 6 February 1958.
However, a Morgans spokesman said the Yucaipa deal was in the works for months, and OTK knew about it because an OTK principal, Jason Taubman Kalisman, is on Morgans's board and sat on the board committee evaluating the Yucaipa deal and other alternatives.
Mr. Olshan said in an interview that, without the right industry expertise, Morgans is missing out on the boutique-hotel industry's growth.
Right down the street is Morgans' wholly owned Delano, which was doing much better.
John Arabia, of Green Street Advisors, predicts Morgans will ultimately triumph and that the legal wranglings won't hurt Morgans reputation as a manager.
Morgans was the brainchild of style god Ian Schrager, the impresario behind New York's infamous Studio 54 in the 1970s.
He identified the donor in question as Hugh Morgan of Morgans Fuels and drew attention to the fact that the businessman was convicted of smuggling fuel in June 1998.
The plan, which is supported by Morgans's board, calls for transferring to Yucaipa the Delano South Beach hotel and the company's Light Group food and beverage subsidiary.
He points out that since the suit was filed, Morgans has signed management contracts with five other companies on six properties.
Now Scheetz is hoping to maintain Morgans' reputation with the style hounds while catering to the chinos-wearing business travelers from companies like Microsoft and Citibank.
Now Scheetz is hoping to maintain Morgans' reputation with the style hounds while catering to the chinos-wearing business travelers from companies like Microsoft (nasdaq: MSFT - news - people ) and Citibank.
An OTK spokesman said the firm's principals had become frustrated in recent years with Morgans's failings, which included forfeiting two hotels to lenders during the real-estate bust, losing management contracts, incurring annual net losses since 2004 and a drop from the stock's 2008 levels.
We meet Vanderbilts, Rockefellers and Morgans boozing it up beyond the three-mile limit during Prohibition.
Morgans's announcement of the recapitalization deal with Yucaipa came roughly two weeks after OTK went public with its concerns.
In 2002 Morgans took over management of the struggling Shore Club in Miami from its owner, Philips South Beach.
Philips is asking to break Morgans' management contract in the suit, which was filed in a state court in New York and is currently in discovery.
But United's loss was Swansea Town's gain, as Morgans returned home to play for the side he'd left six years before.
The lodging industry was an anodyne place when Morgans opened.
But Schrager left Morgans in 2005, a year before the company went public.
Morgans has a management contract to run the properties and is a real estate equity partner in all of them, shouldering its share of all operating expenses including its own management fee.
According to a suit Philips filed against Morgans in January 2006, Morgans diverted high-profile guests from the Shore Club to the Delano, allowed Delano employees to stay at the Shore Club for free and neglected to collect rents from the hotel's retail tenants.
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