Volume 2 Issue 1

4/11/2024

Quarterly Newsletter

April 2024 minute read

Industry News

Bankruptcy/Corporate Restructuring
The Bankruptcy Court for the District of New Jersey is the new hot spot for Chapter 11 bankruptcy filings and the M&B Bankruptcy and Corporate Restructuring team is available for all your needs. Notable recent filings in New Jersey in which M&B attorneys are involved for clients include Bed Bath and Beyond, Rite Aid, WeWork, David’s Bridal, Cyxtera, and Bowflex.

Corporate
New York’s Governor Kathy Hochul signed a bill in December 2023 (further amended on March 4, 2024) enacting the New York LLC Transparency Act (NYLTA), effective January 1, 2026. The NYLTA amends New York’s LLC Law to require the disclosure of personal information about an LLC’s beneficial owners. This article has the details.

Litigation
The New York Times recently sued OpenAI and other tech companies over alleged copyright infringement. OpenAI has fired back, alleging that NYT “hacked” ChatGPT to generate misleading evidence for its lawsuit. Read this article for more information.

Real Estate
The National Association of Realtors (NAR) has resolved multiple claims against the group and brokers nationwide arising from alleged artificially high commissions. Under the settlement, the realtor group will pay $418 million over the course of about four years. 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

Gabby Vázquez attended the Mentoring for Women 2024 Conference hosted by the West Des Moines Chamber of Commerce.

M&B welcomed Tricia Avidano to the team as its Legal Recruiting and Marketing Manager.

Congratulations to Sophia Herbst, who has been selected to participate in the prestigious AAA Higginbotham Fellows Program Class of 2024.

M&B News

Bankruptcy/Corporate Restructuring
Dave McGrail is representing a local airline in its out-of-court restructuring.

Ilana Volkov is local counsel to the DIP lender in the Bowflex, Inc. bankruptcy cases pending in the Bankruptcy Court for the District of New Jersey.

Ilana Volkov and Veronique Urban are representing a Chapter 7 bankruptcy trustee as special litigation counsel in SAR Floors, LLC, which is pending in the Bankruptcy Court for the Middle District of Pennsylvania.

Corporate
In February, Menachem Bensinger, Jason Bitsky, Pearl Shah Dalsania, and Steven Roz acted as corporate counsel in a client’s purchase of an innovative machine automation company.

Dave McGrail, Jason Bitsky, and Pearl Shah Dalsania are advising a client that is forming a new motion picture production company, structuring the transaction and preparing the documentation for it to acquire the rights to, produce, and distribute a feature film.

Litigation
Led by Gabby Vázquez, the MB litigation team, including Ephraim Glatt, Patrick Train-Gutiérrez, and Kate McGrail, assisted clients AirBridgeCargo Airlines, LLC, the largest Russian cargo airline, and its parent company, Volga-Dnepr Logistics, B.V., in the resolution of a dispute with BOCA Aviation Limited relating to the lease termination and possession of two Boeing Model 747-8F aircraft that were impacted by the U.S. and International Sanctions on Russia. The resolution included a full satisfaction of all judgments in the SDNY and the voluntary dismissal of two Second Circuit Appeals.

In February, Kate McGrail, Patrick Train-Gutiérrez, and Cynthia Botello successfully argued a motion to compel in New Jersey State Court. The court not only granted the motion but also awarded attorneys' fees.

In February, Patrick Train-Gutiérrez, Kate McGrail, and Sophia Herbst successfully defeated a motion to dismiss in New York State Court.

In March, Ephraim Glatt successfully defeated a motion in seeking leave to amend a complaint in federal court.

Real Estate
In March, Joshua Hager and Devori Goodman represented the seller of an $18.1 million residential apartment complex in Michigan, which included an eleventh-hour 1031 structure.

In January, Joshua Hager and Devori Goodman represented the seller in the sale of a complex $12 million 65-unit portfolio located in northern New Jersey.