ARV Wins Order Against Investment Firm

An Orange County Superior Court judge ordered a New York investment firm to hold off on an acquisition until after a trial later this summer on the firm’s related legal dispute with Costa Mesa-based ARV Assisted Living Inc. Last week, Judge John C. Woolley granted ARV’s request that the investment firm--an affiliate of Lazard Freres & Co.--be temporarily barred from completing its purchase of Louisville-based Atria Communities Inc. ARV operates homes for the elderly, and the Lazard Freres affiliate is its largest shareholder. On May 14, ARV sued the investment firm after Lazard acquired Kapson Senior Quarters Corp., alleging that the investment firm was using Kapson to move into the assisted living market, leaving ARV behind. ARV alleges Kapson’s plan to buy Atria for $750 million requires ARV’s approval. The Lazard Freres investment firm denies that ARV’s approval is necessary. The case is set for trial Aug. 3.