Learn more about what our experienced professionals can do in the most complex of 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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Julie and Mark: Unforeseen Danger – Surprise Litigation
Julie and Mark had worked hard for many years, accumulating over $12M through the sale of Mark’s company. They wisely invested their money and implemented advanced estate planning techniques. This allowed them to enjoy their lives by traveling, spending time with family, supporting charitable organizations, and pursuing leisure activities they had long desired. However, a sudden letter from the buyer of Mark’s business revealed accounting irregularities, and the buyer demanded a refund along with damages and fees. Fortunately, Mark had followed the advice given to him by the Asset Protection attorneys at Falcon Rappaport & Berkman and was able to successfully protect his funds in an offshore Asset Protection Trust. When the buyer’s lawyer was informed about the challenges in accessing Mark’s assets, the buyer settled for a small amount and agreed not to pursue further legal action. Without the asset protection trust, Mark would have faced a fraud lawsuit and the risk of losing his money. Mark’s advanced planning was a smart decision. This matter was handled by the attorneys in our Asset Protection Practice Group prior to joining FRB earlier this year.
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Dismissal of Bank Lawsuit Based on Statute of Limitations Defense
Falcon Rappaport & Berkman successfully represented clients sued by a major bank for a six-figure consumer credit transaction based upon a promissory note and corporate guaranty executed in 2007, with a final payment due date of October 2012. The complaint alleged a default in 2012 and payments made until 2017, just under six years before the complaint was filed. The promissory note and corporate guarantee were both governed by the laws of California, where the statute of limitations for an action upon a contract is four years from the breach. However, an action to enforce an obligation to pay a note payable at a definite time is governed by a six-year statute of limitations, which begins to run from the due date listed on the promissory note. After confirming the statute’s application to the clients’ specific facts, FRB attorneys quickly had the lawsuit withdrawn against their clients since the complaint was barred by California’s statute of limitations. Had New York law governed the promissory note and personal guaranty, the clients would have achieved the same outcome. The NY Consumer Credit Fairness Act signed into law on November 8, 2021, among other things, reduced the statute of limitations for bringing a lawsuit on a consumer debt from six years to three years. Thus, even under New York law, plaintiff’s complaint was untimely by three years!
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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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Real Estate Fund Formation for Carbon-Neutral Redevelopment Company
FRB attorneys advised an innovative real estate redevelopment company on all aspects of its real estate fund formation. The Client is a vertically integrated, carbon-neutral real estate rehabilitation company and owner-operator of luxury estates for short-term rental. FRB’s team of corporate, tax and real estate attorneys worked cross-departmentally to form an optimal entity structure to allow our client to participate in real estate crowdfunding opportunities. Subsequently, the Client successfully raised funds from hundreds of investors through Reg CF and was featured on a Netflix show.