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rbor Realty Trust has dodged paying a substantial fee to Adam Cooper, a tech investor and close friend of its CEO's son, for his role in arranging a massive Chicago apartments deal. However, the ruling in Arbor's favor is being appealed despite Cooper allegedly failing to pay his attorney's fees so far. Judge Louis L. Nock of New York Supreme Court ruled that Cooper didn't have the right to collect $1 million for helping set up the company to loan $417 million to Emerald Empire, which acquired 7,500 Chicago apartments from Pangea Properties.

    Cooper claimed he had made agreements with Arbor's leadership to receive a fee for deals involving Emerald, citing text messages and verbal agreements. However, court records show that Cooper was cut out of the deal between Emerald and Arbor, which involved debt broker Meridian Capital Group. The judge found that there was no formal contract between Cooper and Arbor, rendering the lender liable for the $1 million fee.

    The dispute damaged Cooper's friendship with Maurice Kaufman, the younger son of Arbor's CEO. Cooper had written to Kaufman before the deal closed, "You think it's all on me... You're a very stubborn person." The judge ruled against Cooper last month, and he has since appealed the decision while Arbor seeks to collect its attorneys' fees and expenses from him. Cooper's former legal team withdrew from the case due to his inability or unwillingness to pay their fees.