Volume 1 Issue 3

10/5/2023

Quarterly Newsletter

September 2023

Industry News

Bankruptcy/Corporate Restructuring
Fund managers looking to revive the CLO money-making enterprise are expanding the scope of what counts as collateral behind these deals by turning to junk bonds, Bloomberg News reported.

Corporate
As the Corporate Transparency Act takes effect on January 1, 2024, subject to various exemptions and exceptions, each reporting company, like a corporation or a limited liability company (but not a general partnership or a donative trust), will be required to report certain information about the company to the Financial Crimes Enforcement Network at the Treasury Department, including identifying its beneficial owners. Read more here.

Litigation
M&B’s own Gabby Vázquez was a guest on the Fordham Corporate Law Center’s podcast examining the $16 billion damages award recently handed down against Argentina by the SDNY. Listen here.

Real Estate
Borrowers continue to seek financing options while loan delinquencies (including CMBS loans) are increasing, resulting in loan modifications in record numbers, Commercial Observer reported.

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We’re seeking talented and friendly attorneys.

If you are interested in working at M&B, please contact [email protected].

M&B Life

In June, Derek Walker joined M&B’s corporate group, and in August, Cynthia Botello joined M&B’s litigation group.

Also in June, Mona Awad and Kate McGrail held a drafting workshop for all associates, which included a session on the benefits and risks of utilizing artificial intelligence.

Semi-spontaneous lunch with some of the New Jersey crew! Pictured below are Mendy Bensinger, Devori Goodman, Cynthia Botello, Ilana Volkov, Mona Awad, Joshua Hager, and Dave McGrail.

M&B News

Bankruptcy/Corporate Restructuring
Ilana Volkov represents Wakefern Food Corp., the largest retailers’ cooperative group of supermarkets, in the KDC Agribusiness/Do Good Foods Chapter 11 bankruptcy cases in Delaware. She and Veronique Urban also represent an affiliate of Hartz Mountain Industries, Inc., a significant regional real estate company, in the Cyxtera Technologies, Inc. Chapter 11 cases in the SDNY.

Corporate
Dave McGrail, Jason Bitsky, Pearl Shah, Derek Walker, and Steven Roz acted as “outside general counsel” to a number of New York businesses, including Boober, Something Different, Skura Style, SourceCode, and Zibby Books.

Litigation
In September, Ephraim Glatt successfully argued a discovery motion in Kings County Supreme Court, allowing a client to depose a crucial witness. Meanwhile, Patrick Train-Gutiérrez and Ephraim Glatt secured favorable settlements for two separate clients in the healthcare sector, while Sophia Herbst defended guarantors against prematurely-filed complaints in sister cases in New York and Florida.

Real Estate
Joshua Hager and Devori Goodman represented privately held investment groups in the sale and acquisition of large muti-family portfolios.

Congratulations to Mendy Bensinger, Dave McGrail, Patrick Train-Gutiérrez, Gabby Vázquez, and Ilana Volkov, who have all been named Super Lawyers for 2023, and to Ephraim Glatt, who has been named a Super Lawyers Rising Star for 2023.