AmBase secures additional $1.5 million from CEO Bianco to fund 111 West 57th litigation
ABCP•AmBase secured an additional $1.5 million from CEO Richard A. Bianco under an existing litigation funding agreement, on top of an initial $6 million commitment.
1. Additional litigation funding
AmBase said the payment will fund litigation tied to the 111 West 57th property. Management flagged substantial continuing litigation costs related to the dispute over the company’s investment.
