Saturday, November 15, 2014

NJ Judge Hears Argument; Reserves Decision On Motion To Dismiss Kean University Claims To Legacy Schering-Plough Facility

We last looked in on this spat two weeks ago -- and after two hours of motion practice in the Superior Court, the matter was taken under advisement. Elizabeth (NJ) Superior Court Judge Katherine Dupuis will rule at some future date on the developer's motion to dismiss the Kean claims.

At the heart of this dispute, for the locals, is whether their township government will be able keep the huge tract on its real estate tax rolls. If the developer wins, taxes continue to flow. If the University wins, the land goes off of the taxable rolls, since Kean is a tax-exempt entity. So local public schools, water and sewer service, road repairs, snow plowing and garbage collection will be impacted there, almost certainly, with a win for the University.

From the Union News Daily then -- in New Jersey:

. . . .According to sources attending the hearing, lawyers for Russo, Kean University and the township argued their respective points for two hours before Dupuis, but a final decision was not forthcoming. This means the judge will review both legal arguments and make a decision at a future date. When that will be, though, is unknown.

John Schmidt, an attorney representing the university, maintained in court that John Kean, a surviving descendant, retained the right of first refusal through his family.

The Kean family has maintained throughout months of legal wrangling that they had every right to transfer the right of first refusal to the university and the court should uphold the university’s legal right to buy the land. . . .

So we wait, yet again. Enjoying a blowing and snowy Saturday night here. Even so, Monday's IMPROVE-IT disclosure will be big news, for Merck.

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