Bankruptcy/Corporate Restructuring 
Total second quarter 2023 commercial chapter 11 filings were up 105% from the same period in 2022. This article has the details.
 
Corporate 
The New York State legislature has passed a ban on non-competes, ushering in a potential sea change to the employer/employee dynamic in New York.  Importantly, the proposed law is not retroactive. Read the article here.   
 
Litigation 
SDNY Judge P. Kevin Castel issued a blistering opinion sanctioning attorneys for relying upon and standing by fictitious judicial opinions created by ChatGPT without first confirming the opinions’ existence and content. Read the full opinion here.
 
Real Estate 
U.S. regional lenders may have to consider selling off commercial real estate (CRE) loans at a steep discount after breaching key regulatory thresholds for exposure to the troubled CRE and construction sectors. Read the article here. 

We’re seeking talented and friendly attorneys.

If you are interested in working at M&B, please contact dmcgrail@mcgrailbensinger.com.

In June, M&B held its annual firm outing at Knickerbocker Country Club in Tenafly.

Family members joined in the fun.  So did an 18-foot python.  As the evidence clearly shows, Mendy took no joy in the python’s decision to go straight for Dave’s ear.

In May, Sophia Herbst joined M&B’s litigation group (from Wilson Elser).  A commercial litigator and Adjunct Professor at The George Washington University Law School, Sophia lives in the D.C. area and is a fan of cats, not so much of snakes.  

In June, M&B proudly co-sponsored Runway for Research, an event hosted by Tina’s Wish, to raise funding for ovarian cancer research.

Bankruptcy/Corporate Restructuring
Veronique Urban and Dave McGrail represent creditor Entertainment Industries Employer Association in the Vice Media Chapter 11 bankruptcy case.

Corporate 
Mona Awad, Mendy Bensinger, Jason Bitsky, Pearl Shah, and Steven Roz closed significant transactions across industry verticals, including online retail, vascular medicine, public relations, and real estate management, outpacing the recovering market.  On the management side, Mona Awad assumed leadership of the Corporate Practice Group.
 
Litigation 
Patrick Train-Gutiérrez and Kieran O’Connell tackled domestic litigation matters, defeating a motion to dismiss veil piercing claims, while Gabby Vázquez, Ephraim Glatt, and Kate McGrail addressed matters with an international flavor, including securing a $4.6 million judgment in Canada.
 
Real Estate 
Joshua Hager and Devori Goodman successfully represented a closely-held investment group in the acquisition of an off market out-of-state property.

​Congratulations to Ilana Volkov, who has been selected for inclusion in Lawdragon 500 Leading U.S. Bankruptcy & Restructuring Lawyers 2023.

​Bankruptcy/Corporate Restructuring 
Bloomberg reports that almost $1.5 trillion of U.S. commercial real estate debt comes due for repayment before the end of 2025. Read the full article here.

Corporate
More than a decade after the LIBOR scandal exploded and five years after SOFR got the nod, LIBOR will go away on June 30. This article has the conversion chart.

Litigation
A Delaware court has found that judges must evaluate proposed shareholder class action settlements to ensure they are fair to all investors, not just to the shareholders who brought the case, even when time is of the essence. This article has the details.

​Real Estate
There is a silver lining to the interest rate hikes and the impact they are having on the real estate market. Read the full article here. 

​We’re seeking talented and friendly junior and mid-level attorneys.

If you are interested in working at M&B, please reach out to Dave McGrail: dmcgrail@mcgrailbensinger.com.

​In February, some of the M&B Team took a break from lawyering to Bury the Hatchet. Pictured here (clockwise from the left) are Ilana Volkov, Patrick Train-Gutiérrez, Dave McGrail, Pearl Shah, Devori Goodman, Mona Awad, Mendy Bensinger, Joshua Hager, and Steven Roz.

​​Ephraim Glatt joined M&B in March after litigating for nearly eleven years at Kasowitz Benson Torres LLP and immediately jumped into a trial before the District Court for the Southern District of New York with Gabby Vázquez. Happily, the trial ended just in time for him to enjoy a quiet Passover with his family.

​Bankruptcy/Corporate Restructuring
In February, Ilana Volkov, Veronique Urban, and Pearl Shah successfully confirmed a plan of reorganization for First Step Trademarks, LLC, Case No. 21-12147 (Bankr. SDNY).

Corporate
In February, Mona Awad, Joshua Hager, Jason Bitsky, Steven Roz, and Devori Goodman closed a $37,500,000 stock and asset sale.  Notwithstanding interest rate hikes and investor skittishness, the M&B corporate team negotiated and/or closed over $100MM of new transactions in Q1 2023.

Litigation
In March, Patrick Train-Gutiérrez, Kate McGrail, and Kieran O’Connell successfully defeated a “bet the company” preliminary injunction motion seeking to enforce a non-solicitation provision against a client with a growing presence in the assisted living industry.

​Real Estate
Joshua Hager and Devori Goodman closed a number of deals with “outside the box” structures, including the sale of a portfolio of mixed used properties. These transactions allowed the clients to attain their goals for Q1 2023 in a tightening real estate market.  

​Congratulations to Gabby Vázquez and Ilana Volkov, who were recognized as Top Women Attorneys in the New York Metro Area by The American Registry.