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first_img Full Name* The lawsuit between Gap and Alex Stawski was settled on February 2. (Google Maps, Getty) Following a battle over unpaid rent at its Midtown Manhattan location, Gap has reached a settlement with the landlord.The apparel brand had withheld $530,334 in charges — including water and snow removal fees — incurred by its 1212 Sixth Avenue store, according to a complaint filed in the Southern District of New York by the landlord, an LLC registered to under-the-radar real estate mogul Axel Stawski of Manhattan-based Stawski Partners.Read morePayment Gap: Landlord sues retail giant for withholding rent at Midtown locationLandlords increasingly turn to lawsuits against nonpaying retailersInside the hardball legal tactics retail landlords are using against tenants In its response to the lawsuit, Gap used the “frustration of purpose” defense, saying the pandemic had made the lease untenable and forced it to lay off employees at the location.As a result, Gap argued that it should receive a refund and that the lease be terminated or modified.Instead, the case was settled Feb. 2, according to newly available court records. Terms were not released.Neither attorneys for Gap nor the landlord responded to requests for comment.Stawski was described by a 2016 Bloomberg News story as a billionaire developer who owns six Manhattan buildings, including the 30-story 565 Fifth Avenue. Stawski, a 70-year-old son of Holocaust survivors, is known for boutique, aesthetics-oriented commercial and residential buildings, according to the story.Gap has also been involved in lawsuits with some of its other landlords, including Simon Property Group and Brookfield Property Partners.The pandemic has triggered thousands of rent disputes between retailers and their landlords. Stores, many of which have been shut down for periods of time, typically argue that their leases are void.However, few cases have been decided, leaving landlords and retailers to determine what to do in the meantime.Contact Sasha Jones Email Address*center_img This content is for subscribers only.Subscribe Now Message*last_img read more

first_imgWagai said this when responding to questions raised by the media on whether the contractor for the PNG Games has been paid the full amount for their services. “Nirvani initially gave us a scope of K23 million kina. We have a balance of K1.3 million yet to pay.“The contractor is now insisting that we pay that balance and then they will return to work.“This is the tenth day that they have stopped work after we just paid Nirvani K5 million in December of last year.“They worked for four weeks and decided to suspend work again pending the payment of the balance. So that is where we are.“In any contract, we know that there is a retention clause, we have already overpaid the retention by another 5%,” said Wagai.Sports Minister, Justin Tkatchenko added on saying Nirvani must get back to work on the venues.“At the end of the day, you have to be a team player. We’re not going against the contractor because they haven’t been paid up to date.“We’ve done everything we possibly can. We have bent over backwards for this contractor to get the job done. Why do you want an upfront payment of a 100%? I’ve never heard of that before.“Finish the job,” said Tkatchenko.According to Tkatchenko and Wagai, 90% of the work on all venues has been completed.last_img read more