Volume 1 Issue 4

1/11/2024

Quarterly Newsletter

January 2024

Industry News

Bankruptcy/Corporate Restructuring
2023 saw 591 U.S. corporate bankruptcy filings, the highest number since 2020. Retail bankruptcies are expected to continue to climb through 2024, but experts say the second half of 2024 should see a decrease in overall corporate bankruptcy filings. This article has the details.

While AI deals may be booming, the rest of the venture capital world saw a sharp decline in deals. Venture capital deals in the United States fell to their lowest levels since 2019. This article has the details.

Corporate
With the recent boom in cryptocurrency, many states are contemplating making changes to their Uniform Commercial Codes by adopting new Article 12 and/or amending Article 9 to account for digital assets. This article has the details.

New York State’s proposed bill to eliminate non-competes was vetoed by Governor Hochul in December. Read the full article here.

Litigation
Effective January 1, 2024, New York allows the use of “unsworn affirmations” in litigation. Read the full article here.

The litigation finance industry is facing competition from insurers such as Aon, CAC Specialty, and Willis Towers Watson PLLC, as they offer alternative methods of funding legal actions. Read the full article here.

Real Estate
New legislation proposed by Congress would ban hedge funds from buying and owning single-family homes. Read the full article here.

While office space is filling up again, a space shortage may be looming on account of tenants’ desire to occupy newer, more modern buildings. Read more here.

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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 December, M&B held an epic holiday celebration that included stretch-limo transportation to the dinner venue. The team was greeted by “paparazzi” snapping photos and requesting autographs as they walked the red carpet into the restaurant.

Click above for larger image

M&B proudly co-sponsored the Brooklyn Public Library Gala Celebration, held on October 2, 2023, honoring Shawn “Jay-Z” Carter and Hon. Dr. Gloria Carter.

Congratulations to Ilana Volkov, who has been recognized by Best Lawyers® for her work in Bankruptcy & Creditor Debtor Rights / Insolvency & Reorganization Law in New York City!

Congratulations to M&B’s newest partners, Ephraim Glatt and Kate McGrail!

M&B News

Bankruptcy/Corporate Restructuring
Ilana Volkov and Veronique Urban are representing several parties in the Rite Aid bankruptcy case pending in New Jersey. They also recently settled two significant fraudulent transfer litigations in the Southern District of New York. In addition, Dave McGrail is representing two well-known NYC retailers in their out-of-court restructurings.

Corporate
In December, Mendy Bensinger, Jason Bitsky and Steven Roz structured and documented a joint-venture surrounding the acquisition of $19.75MM Class-A office building.

In November, Mona Kaplan and Pearl Shah aided an M&B client in spinning off their digital media team.

Litigation
In December, Ephraim Glatt and Pearl Shah secured a favorable ruling from the Superior Court of New Jersey in a discovery dispute regarding privileged documents.

In November (i) Ephraim Glatt secured a favorable settlement for a client in the healthcare industry, ending decades of litigation in Kings County Supreme Court and (ii) Patrick Train-Gutiérrez and Gabrielle Vázquez settled multiple years-long litigations among various adverse parties through a single, expansive, global settlement agreement.

In October, (i) Patrick Train-Gutiérrez and Cynthia Botello secured judgments against multiple defendants in a breach of contract action pending in New Jersey, (ii) Patrick Train-Gutiérrez and Kate McGrail secured a settlement for their client recovering on all claims brought against multiple assisted living facilities in Pennsylvania, and (iii) Patrick Train-Gutiérrez, Alozie Etufugh, and Sophia Herbst defeated a motion to strike their client’s jury demand and in limiting an opposing expert’s damages testimony in a trademark dispute action pending in the SDNY.

Real Estate
In December, Joshua Hager and Jason Bitsky facilitated a $7MM property refinance on behalf of a non-profit organization.
In November, Joshua Hager and Devori Goodman successfully closed a $7.8MM purchase of Class-A building located in Manhattan, against the backdrop of a challenging interest rate market.