Williams' lawyers at Atlanta-based McKenna Long & Aldridge won a temporary restraining order from Cobb County Superior Court Judge Kenneth O. Nix to stop the vote for 30 days.

Williams, who founded Post Properties 32 years ago, sued after learning company directors approved a resolution that would limit the 59-year-old apartment developer from obtaining proprietary information from his own firm. The directors had also agreed to dismiss Williams immediately and evict him from his office at Post Riverside on Northside Parkway. Williams' contract calls for him to hold his office until 2013.

Williams and Post officials couldn't be reached at GlobeSt.com's publication deadline. But Atlanta multifamily brokers intimate with Post's problems over the past three years tell GlobeSt.com on condition of anonymity that Post directors were incensed over Williams' plans to head a management buyout of the company in November 2002.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.