Housing Investor Tied to Tisch, Sussman Beats Equity Seizure Bid

A real estate executive Wednesday defeated a bid to seize his equity in an affordable housing venture that fired him for teaming up with his billionaire in-laws to start a competing business.

A Delaware Chancery Court judge rejected the claims by Fairstead Capital Management LLC, which had sued William Blodgett to compel forfeiture of his 15% stake in its carried interest. Fairstead previously scored a partial win when an arbitrator ordered Blodgett to surrender his percentage of pending deals—but not his existing equity—for breaching his employment agreements by sharing confidential information with the Tisch and Sussman investment offices, which backed ...