Zabludowicz bests Tshuva over Plaza
Sources close to real-estate tycoon Poju Zabludowicz say that a Nevada court has rejected Yitzhak Tshuva's bid.
Sources close to real-estate tycoon Poju Zabludowicz say that a Nevada court has rejected Yitzhak Tshuva's bid to nip the legal squabble between him and Zabludowicz in the bud, and refused Tshuva's motion to reject the claim or to hear it without addressing Zabludowicz' bid for compensation over the use of the name "Plaza" in Tshuva's new Las Vegas hotel.
The court, say the sources, ruled the jury trial will be held, as scheduled, on September 11. There are two points of contention in the case; one is whether the name "Plaza" may be used in principal, and then Zabludowicz' demand for compensation as there has been considerable publicity surrounding the intention to use the name in the huge project Tshuva and his partner, Nochi Dankner, are planning.
Tshuva and Dankner announced their intent to build the complex over a year ago, at a cost of more than $6 billion; it will include a hotel, casino and luxury apartments.
Tshuva says he acquired the right to use the name "Plaza" in the United States when he bought the Plaza in New York. Zabludowicz, however, owns a well-established hotel in Las Vegas that already bears the name.
A spokesman for Zabludowicz's Tamares Group said that the company is pleased the case will be heard before a jury as early as next week, but declined to comment further. He noted the jury should reach a final decision within a few weeks, and said that "the Tamares group does not intend to comment on the ongoing legal proceedings."
The group's Plaza hotel, he said, has been a part of the Las Vegas scene for 30 years, and constituted a strategic asset for the group and for Las Vegas tourism. He said the group will develop and expand the brand in downtown Las Vegas, in keeping with its business plans.
"We are confident that the Tamares group will continue to be the sole owner of the 'Plaza' brand in Las Vegas" the spokesman said.