Learn more about what our experienced professionals can do in the most complex of cases.
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Foreclosure Process Clarification
FRB’s Creditors’ Rights & Bankruptcy Law attorneys secured a key legal victory for a lender client in a foreclosure action against the estate of a deceased borrower. The estate’s fiduciary argued that the lender failed to serve required pre-foreclosure notices under RPAPL 1304 and the mortgage agreement. FRB attorneys successfully countered, demonstrating that such notices were not required when the borrower had passed away and the estate administrator was not an obligor on the loan.
The Supreme Court of New York ruled in favor of FRB’s client, confirming that RPAPL 1304 does not apply in these circumstances and that contractual obligations did not extend to estate administrators. This precedent protects lenders from unnecessary delays and reinforces the importance of clear mortgage terms. FRB’s strategic legal approach continues to safeguard lender interests in complex foreclosure cases.
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From Pop Shop to Syndicate
While starting as a small family-owned HVAC business in New York, FRB’s Corporate & Securities attorneys initially helped its owner undergo an asset purchase sale for $22.5M. Not long after, its owner realized that he had the ability and industry-related business acumen to grow similar companies from the ground up, and he began acquiring other HVAC-related businesses in the same space. Since then, we have helped this successful entrepreneur evaluate the viability of prospective acquisitions, uniquely structure each purchase to protect his business interests, and add several HVAC-related companies to his business portfolio.
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Summary Judgment Victory Enforcing NDA Protections
Falcon Rappaport & Berkman’s Intellectual Property and Litigation Practice Groups secured a summary judgment victory for a brand investment client in a dispute arising from a potential partner’s misuse of confidential information while the client was preparing to pursue a bid for a target company in a bankruptcy auction. FRB enforced the client’s contractual rights under a Non-Disclosure Agreement drafted by the firm and asserted claims for breach of contract and trade secret misappropriation under New York law and the federal Defend Trade Secrets Act. The court granted summary judgment on the breach of contract claim, finding that the defendant violated the NDA by disclosing and misusing the client’s confidential information, while permitting the trade secret claims and damages to proceed to trial. This outcome underscores the value of clear, enforceable confidentiality protections when sharing sensitive business information in high-stakes transactions.
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Full Recovery for Vendor in High-Profile Chapter 11 Through Contract Assumption
FRB’s Creditors’ Rights and Bankruptcy Law attorneys routinely represent creditors in high-profile Chapter 11 cases, including one such representation involving a well-known 150-year-old supermarket chain. FRB attorneys represented a “critical vendor” who was not only owed a significant amount of money pre-petition, but faced a potential adversary proceeding lawsuit to recover funds it was paid by the debtor within 90 days of the bankruptcy filing. The Debtor refused to recognize FRB’s client as a “critical vendor.” Rather than accept the debtor’s decision, FRB attorneys negotiated an assumption of the executory contract between the parties which required the Debtor to pay FRB’s client’s pre-petition claim in full. The added “bonus” for the client was that by assuming the agreement, the Debtor effectively waived any preference claim. A similar result would not have occurred had FRB’s client been granted “critical vendor” status. Our firm’s ability to pivot and provide outside-the-box thinking is one way to turn what appears to be a hopeless situation into a winning outcome. This matter was handled by the attorneys in our Creditors’ Rights and Bankruptcy Law Practice Group prior to joining FRB earlier this year.
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The Art of Resolving a Complex Loan Payoff
FRB’s creditor and debtor rights team skillfully navigated a complex loan payoff involving a challenging situation with an assertive and unpredictable offshore lender. Faced with the looming threat from the private lender to take action against our clients’ coop, our team explored creditor protection options to alleviate the strain and potentially restructure the claim. Using bankruptcy as a settlement anchor, we successfully brought the parties to the negotiating table after 14 years of stress and uncertainty. Throughout the process, our dedicated team played a crucial role in ensuring the closing stayed on course despite the need for multiple extensions to meet funding deadlines. This achievement was the result of a truly collaborative effort by our skilled and committed team.