A legal dispute between prominent Oakland real estate investor Tom Henderson and one of his business partners has boiled over, with an Alameda County Superior Court judge transferring control of the Tribune Tower and three other Oakland properties to a court-appointed receiver, the East Bay Times reported.
The judge acted on the request of Allan Young, Henderson’s former business partner in CallSocket, a call center business inside the Tribune Tower where about 175 employees made an estimated 100,000 calls per day on behalf of clients including Deutsche Bank and the University of Phoenix.
Young has accused Henderson of siphoning off millions of dollars intended to create local jobs. He reportedly asked the judge to transfer control of the properties after Henderson recently flipped the four-story I. Magnin building at 2001 Broadway Street, selling it for nearly $19.5 million — more than double what he paid for it three years earlier.
Young was reportedly concerned that Henderson would sell other properties while the two are entangled in a bitter legal dispute.
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