Volume 3 Issue 2

Quarterly Newsletter

July 2025 minute read

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Industry News

Bankruptcy/Corporate Restructuring
Corporate cash levels are falling--the latest earnings period brought possible early warning signs about credit quality for high-grade U.S. companies. Read more here.
 
First-lien lenders in several recent retail bankruptcies have received below-average recoveries. Find out more.
 
Corporate/M&A
Delaware recently updated the Delaware General Corporation Law after several companies left or threatened to leave the state, including making changes regarding transactions with interested directors, officers, and stockholders. See here for more details.
 
Commercial Litigation/ADR
On January 14, 2025, Governor Kathy Hochul announced a new executive action requiring employers to notify state officials in the event AI tools played a role in mass layoffs or closings subject to New York’s Worker Adjustment and Retraining Notification Act. See here for more details.
 
On June 18, 2025, the New York legislature passed the Fostering Affordability and Integrity through Reasonable Business Practices Act, which expands liability under New York General Business Law § 349. Learn more.
 
Real Estate
Mansion tax in New Jersey is going through significant changes.  Going forward, liability will shift from the buyers to sellers, and a new tiered fee structure applies to many more transactions.  In addition to paying the transfer taxes, the seller will also be liable to pay the mansion tax, which was historically the buyer’s responsibility.  See here for more details and the tiered structure.

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We're Hiring!

​We’re seeking talented and friendly attorneys.

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

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M&B Life

We’re excited to share that our firm has been ranked in the 2025 Chambers New York Spotlight Guide for Corporate/Commercial and Litigation: General Commercial – a great recognition of the hard work our team puts in every day! Chambers Spotlight 2025.

​M&B recently hosted its annual family summer event, this year aboard the Emerald Princess. As we cruised up the Hudson, taking in stunning views of the Brooklyn Bridge and the Statue of Liberty, colleagues and their families enjoyed a relaxing afternoon of quality time—complete with delicious food, laughter, a trophy presentation, and even a spirited game of Simon Says. A great time was had by all!

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M&B News

Bankruptcy/Corporate Restructuring
In a cross-department engagement, David McGrail, Ilana Volkov, and Joshua Hager are representing two commercial real estate borrowers in the restructuring of their matured loans with a total outstanding balance of approximately $75 million.
 
Ilana Volkov has been appointed as an Independent Director of a U.S. subsidiary of a Singaporean company in a creditors’ voluntary liquidation proceeding.  Ilana Volkov and Steven Roz are representing the subsidiary in its Delaware dissolution.
 
Commercial Litigation/ADR
In April, Ephraim Glatt assisted the attorney and an executive of a lender in procuring a dismissal of a federal lawsuit bought by borrowers who defaulted on their loan.
 
In April, Ephraim Glatt advised a group of defrauded investors seeking to jointly file a claim against a conspirator to the fraud in a Beis Din, enabling the group to efficiently pursue the wrongdoers.
 
Corporate/M&A
Menachem Bensinger, Mona Kaplan, and Steven Roz represented a client in a settlement in connection with their business divorce.
 
Mona Kaplan and Steven Roz advised a client in the renewables and project finance industry by assisting in the client’s sale of transformers.
 
Mona Kaplan and Steven Roz represented a client in its acquisition of software in the grocery store space.
 
Real Estate
Joshua Hager advised a number of co-op boards in the transfer of several units, each with unique construction components.