AmBase receives additional $1 million litigation funding for 111 West 57th property dispute
ABCP•Terms of the funding arrangement
The funding falls under a March 2, 2026 litigation funding agreement allowing up to $6 million in initial support, with potential additional amounts.
Additional litigation funding received
AmBase secured additional litigation funding tied to disputes over the 111 West 57th Property.
Chairman and CEO Richard A. Bianco provided an extra $1 million on July 30, 2026 for working capital and litigation-related expenses.
Company warns recovery remains uncertain
Management warned that future recovery of its investment in the property remains uncertain, with a material impact likely if value is not recovered.
Going-concern pressure persists, with additional capital still needed to fund expected litigation costs.
