Jeffrey Sussman, marketingpro@aol.com, phone: (212) 421-4475, fax: (212) 421-5224
Out of work? Behind on your bills? Defaulting on your mortgage, maybe? If so, you no doubt did not hold a government job before getting canned.
Some 2½ years after the start of the recession, the evidence is now clear: The private-sector economy took a severe blow -- but public-sector workers were spared. In fact, their numbers actually grew, albeit slightly.
This stark picture clearly reflects upside-down priorities -- particularly if officials care about boosting the truly productive parts of the economy.
Start with a few telling statistics: From January 2008 to January 2010, private-sector jobs plunged from 115.5 million to 106.8 million. But the number of federal, state and local public employees climbed up a tick, from 22.3 million to 22.4 million, as economist Veronique de Rugy recently noted. In other words, some 8.7 million private-sector jobs vanished, while the public sector gained 100,000 jobs.
NY Post, "Penthouse Executive Club slaps back at ex-waitress"“This is Ms. Garcia’s second bite at the apple in trying to find something to claim against The Executive Club. Her changing stories are evidence of the lack of merit of her claims," club lawyer Jeffrey Kimmel said.
8/17 Stephen Meister on Fox News, "The Future of Fannie and Freddie"8/16 Stephen Meister on CNBC with Larry Kudlow, "The Future of Fannie and Freddie"
NY Post, "Mortgage madness" by Stephen Meister
President Obama's flagship mortgage-modification pro gram is a colossal failure -- it's a boondoggle that's wasting billions of taxpayer dollars.
The program's supposed to help Americans in danger of losing their homes -- but the big winners are richly paid executives at Fannie Mae, the now-government-run mortgage giant.
Forbes, "Ten Fun And Affordable Ways To Entertain Clients"Have a farm? Elaine Rogers, co-chair of the media and entertainment group at the law firm Meister Seelig and Fein who often travels between New York, Los Angeles and Boston, entertains clients and conducts meetings at her farm 45 minutes north of Boston. “I have horses and hold meetings in my barn," she says. "People instantly feel more relaxed there, and we accomplish much more."
7/21 Stephen Meister on Varney & Co, "No Help for Housing"6/25 Stephen Meister on Varney & Co, "Record Low for Housing"
6/22 Stephen Meister on CNBC with Larry Kudlow, "Will Housing Cause Double Dip?"
Imagine Magazine, "Boston Entertainment Attorney Elaine Rogers Reps Double Exposure Stars Premiering on Bravo June 15 at 10 PM"
Elaine Rogers, Boston Entertainment Attorney with Meister, Seelig & Fein LLP will be in New York for the premier of Double Exposure. She reps celebrity/fashion photographers Markus Klinko and Indrani Pal-Chauldhur and it is their television series premiering on Bravo June 15th at 10 PM depicting her clients and the fast paced world they live and work in
Read the article, flip to page 30
Decanter, "Koch case against Acker thrown out"Acker's counsel Stephen Meister said, 'Koch spent millions of dollars buying rare wines at auction from Acker - some 1,500 bottles over the years - and after spending millions more inspecting those bottles for more than two years, he could only find 5 bottles which were questionable, all of which were not even definitively proved to be counterfeit. This was hardly a case of consumer fraud.'
The Real Deal, "A fallen star""I think that iStar and Jay Sugarman are fearful of developing a reputation for working with developers and being soft on borrowers," said Stephen Meister, who represents Slazer Enterprises in the One Madison case.
The Real Deal, "Sapir Faces $130M Lawsuit over Beaver Loan"Billionaire developer Tamir Sapir is facing a $130 million lawsuit from a fund controlled by the Blackstone Group, alleging he defaulted on a multi-million-dollar loan used to develop the William Beaver House condominium in the Financial District.
..."We're going to be vigorously defending the action, nevertheless we've had prior conversations and hope to resolve the matter with GSO," said attorney Stephen Meister, who was retained by Sapir in the case.
Real Estate Weekly,"Macklowe wins temporary restraining order on 510 Madison foreclosure"
The decision could buy Macklowe Properties time according to its attorney in the case, Stephen Meister, as well as other legal experts familiar with the proceedings, to refinance its debts and hold on to the high-end midtown tower.
In court this morning, an observer said that Meister attacked SL Green’s attorneys, a team from the law firm Skadden, in an assault on the validity of the C&W appraisal. Among Meister’s arguments was the question why SL Green had paid at least $175 million to buy both the senior mortgage and mezzanine loan when it was claiming the tower was only worth $160 million.
It could take weeks or even months to sort out these questions legal experts say and with a temporary injunction in place against a foreclosure, Meister, and other attorneys who have followed the case, say that Macklowe Properties will now have a chance to fill the building’s space in what appears to be an improving leasing market and secure a replacement lender so that it can retain control of the tower.
4/16 Stephen Meister on Fox News with Neil Cavuto Crain's New York Business.com,"Judge interrupts SL Green's seizure of 510 Madison"
Stephen Meister, the attorney representing Macklowe Properties, said there will be a trial to determine who will own the 30-story midtown property. It is unclear when the trial would be held. An SL Green spokesman didn't immediately return a call.
SL Green purchased two loans on the tower over the last year and planned to use its position to foreclose on it Tuesday by claiming that terms of the loans have been violated. Mr. Meister said the loans were due on March 1 but that the agreements allow his client two six-month extensions. SL Green argued that Macklowe had violated the loan agreements and therefore wasn't entitled to any extensions.
4/13 Stephen Meister on Fox Business NY Post, "Prolonging the pain: Bam's housing-rescue failure" by Stephen MeisterPresident Obama's latest bid to "boost" the housing market does nothing except prolong the pain -- and put taxpayers on the line for billions more in inevitable losses.
Sooner or later, market forces will have their way; housing will find a bottom and finally start to heal. Using taxpayer money to delay foreclosure has already proved both frighteningly expensive and a repeated failure -- but the administration is still at it.
Obama's first "rescue" effort sought to pay delinquent homeowners and their banks to modify defaulted loans -- an attempt to stop foreclosures and keep a lid on inventories. When modifications were blocked by second-mortgage holders, he tried paying them to go along. To stimulate sales, he offered $8,000 apiece to lower-income first-time homebuyers. Finally, he offered to pay qualified borrowers and their banks to conduct "short sales" -- sales in which the bank agreed to take less than it was owed.
4/6 Stephen Meister on FBN show, "Varney & Company" The Real Deal, "Lender says millions in One Madison condo funds missing"Meister Seelig partner Stephen Meister, an attorney also representing Shapiro, said he was not aware of any allegations of missing funds.
"So many of them are completely baseless and untrue that it's really not a good idea to rely on these unsupported allegations," Meister told The Real Deal.
..."We want to get this thing back on track," said Meister. "There's enormous pent-up demand."
3/23 Stephen Meister on CNBC's Kudlow & Company, "Federal Housing Policy Failed" 3/17 Stephen Meister on CNBC's Kudlow & Company, "Tax Credit: Hurt More Than Help?" Downtown Express, "State agency hits I.P.N. with a ‘punch in the stomach’"“I am gratified that the D.H.C.R. made the correct decision — ruling that Independence Plaza is not rent stabilized,” Stephen Meister, Gluck’s lawyer, said in a statement. “In the end, this is a win for the tenants as well.”
Meister said the tenants are already benefiting from the 2004 agreement they negotiated with Gluck before he removed the building from Mitchell-Lama, which offers them some rent protections. Meister has said that the tenants would lose those protections if they won their case, though the tenants dispute that.
NY Daily News, "Riverton Apartments in Harlem auctioned for 125M""He did not fight this foreclosure," said Stephen Meister, Gluck's lawyer.
"He's sad to lose the property. He worked very hard, but the market moved against him," Meister added.
New York Times, "Albany Sides With Owner in a Rent Suit in TriBeCa"“I am gratified that the D.H.C.R. made the correct decision, ruling that Independence Plaza is not rent stabilized,” said Stephen B. Meister, a lawyer for Mr. Gluck, noting that tenants still had some rent protection because of the 2004 agreement.
Real Estate Weekly, "Macklowe suing to block 510 Madison foreclosure"“The Cushman appraisal sets the completed value of the building at $180 million, but this valuation is belied by SL Green’s own actions—they have invested more than that just buying the loans, and still must spend tens of millions more in completion costs, brokerage commission and transfer taxes,” Stephen Meister, the Macklowes’ attorney in the case, said in an email. “The Court set a hearing for April 14 on whether to issue an injunction restraining foreclosure for the balance of the case. At that hearing, we intend to prove that the Cushman appraisal is not worthy of being used to deny the Macklowes their bargained for extension right.”
Crain's New York Business.com, "Battle for 510 Madison Ave. goes to court"However, Macklowe's lawyer, Stephen Meister, challenged the appraisal in court documents. He said if that appraisal were true, SL Green would have breached its fiduciary responsibility by paying $185 million for the two loans it purchased.
In a statement, Mr. Meister said he was demanding to see the appraisal and any e-mails between SL Green and Cushman & Wakefield. He added Macklowe would hire its own appraiser.
The Real Deal, "Macklowe and SL Green to face off over 510 Madison foreclosures""They say we don't pass the loan-to-value test and that's why they're not offering the renewal," Macklowe attorney Stephen Meister told The Real Deal.
...."Defendants arranged for this purchase for the sole predatory purpose of increasing their leverage in refusing to honor the explicit extension set forth in the loan documents," Meister said in the complaint.
The complaint argues that SL Green called in a default based on a new appraisal by Cushman & Wakefield that values the property at $180 million. Meister says the newly appraised value, however, is $60 million to $70 million less than what SL Green will wind up paying for the property, factoring in the loan purchases, transfer taxes and renovation cos
2/26 Stephen Meister on Fox News with Neil CavutoStephen Meister explains the Tsunami mortgage crisis/crash that is currently occurring in the United States with Anchor Neil Cavuto.
2/11 Stephen Meister on Stephen Meister on FBN show, "Varney & Company"Crain's New York Business.com, "SL Green angling to grab 510 Madison"
Lawyer Stephen Meister said that his client has an expressed right to extend its loans and has exercised it. He added that if SL Green doesn't honor the extension, it can “expect my firm to take prompt legal action to protect the Macklowes.”
Real Estate Weekly, "SL Green planning 510 Madison foreclosure"“There is a concrete right of extension specified in the loan documents, which the Macklowes have duly exercised and if SL Green does not respect or recognize that extension the Macklowes will take whatever action is necessary to protect their rights,” said Stephen Meister, an attorney who said he has been retained by Macklowe Properties if there is litigation at the property.
The Real Deal, "Moinian Group sues to block Dwell95 auction""FBE did not notice or advertise the purported sale, which is set for Dec. 30, 2009, one day prior to New Year's Eve, until at the earliest a scant 12 days prior thereto," attorney Stephen Meister, who is representing Moinian, wrote in the complaint.
Moinian was not immediately available for comment.
Meister alleged that the lenders hired no broker to market the sale, and reserved the right to reject all bids, making the Dec. 30 auction a "sham."
One day before the Dec. 30 auction, however, Rubicon filed for Chapter 7 bankruptcy protection in the U. S. Bankruptcy Court in Chicago, according to documents obtained by The Real Deal. Chapter 7 bankruptcy allows a company to liquidate its assets rather than negotiate with creditors and reemerge.
Court documents show that Rubicon has assets of $15 million, mainly loans, and liabilities of $65 million.
Attorney James Irving, representing Rubicon in the bankruptcy filing, declined to comment. A spokesperson for Rubicon was not immediately available for comment.
Meister, who was overseas, told The Real Deal in a telephone interview that the bankruptcy filing would put the auction on hold, but he was proceeding with the complaint.
"The auction has been postponed, Meister said. "My lawsuit has not stopped."
Real Estate Weekly,"Busier than ever, Stephen Meister is at the forefront of commercial distress"
Problems in the Manhattan commercial real estate market have kept Stephen Meister’s law practice busy with some of the messiest deals to yet unravel during the downturn.
... He represented the real estate investment firm Africa Israel in a lawsuit involving 229 West 43rd Street, the former home of The New York Times. Africa Israel borrowed over $700 million to purchase the building at the peak of the real estate bubble and then gut-renovate it into a modern office property.
... The project’s over 700,000 square feet of office space is vacant and it is widely regarded as one of the most disastrous deals to have been done during the boom. Africa Israel, a public company in Israel, was forced to announce significant write-downs on the project in recent months, disclosures that triggered a technical default with the senior lender in the deal, the Mexican bank Banco Imbursa.
Meister came in when a mezzanine lender, the investment firm Five Mile Capital, sued on allegations that Africa Israel had arranged the default to wipe out junior debt holders.
... “Meister is the kind of lawyer who isn’t bound by the hidden rules that normally restrict attorneys,” a lawyer at a major real estate practice in the city said, explaining that many large firms are careful to choose who they represent in order not to end of up squaring off against bread and butter clients, particularly large financial services companies that are huge pipelines of business for the city’s legal industry.
... In recent months, Meister has become something of a regular pundit on the Fox Business Network, where one of the station’s hosts, Stuart Varney, refers to him as both his favorite lawyer and “the best one in the whole of New York City.”
12/14 Stephen Meister on FBN show, "Your Money, Your Questions"11/19 Stephen Meister on Fox Business News, "Red Ink Watch: Real Estate Dip"
GreenPearl, "IFMA-The Importance of Asset Management in Valuing Properties"
Those who were lucky enough to participate in this seminar organized by the International Facility Management Association of Greater NY, “The Importance of Asset Management in Valuing Properties” could listen to the advice of Scott Newmark, an attorney and expert in asset management at the firm of Meister Seelig & Fein LLP. Mr. Newmark conveyed with mastery the knowledge that this well-established firm shares with its high-profile clientele.
“This is definitely a tenant’s market.” Stated Newmark who gave a list of what a tenant could and should negotiate with the landlord before signing a lease. With his prediction for rising foreclosures in commercial properties he gave special attention to explaining the importance and mechanism of the “non disturbance agreement”. In the current situation “subleasing is a tremendous market”. As he described the different ways to negotiate the right for subletting he warned that it also has tremendous risks for the subletter.
11/19 Stephen Meister on Fox Business News, "Red Ink Watch: Real Estate Dip"Real Estate New York, "Back to School"
GIVING CREDIT WHERE IT'S DUE
If you ask the principals of Mascia Development, LLC., a real estate investment firm, they’ll tell you they owe their success at growing their business during a downturn to the courses they took at New York University’s Schack Institute of Real Estate. “My master’s studies at NYU were the final step I needed in preparation of forming my own company,” says president and CEO Mark Mascia, who has run Mascia Development since 2006.
On the Mascia advisory board... Matthew Kasindorf, a partner in the law firm of Meister Seelig & Fein, LLP, is an adjunct associate professore at the institute 11/12 Stephen Meister on Fox Business News, "Fed's Housing Fix Broken?"
11/11 Stephen Meister on Fox Business News,
"Mortgage Modification a Mess"
The Real Deal, "Tribeca's Independence Plaza North residents hope
Stuy Town ruling applies to them"
In I.P.N.'s case, the city mistakenly continued to grant Gluck tax breaks for two years after he removed the building from the Mitchell-Lama middle-class housing program in 2004, Meister said. Downtown Express, "Stuy case helps I.P.N.’ers, their attorney says"
Stephen Meister, who represents Gluck and is involved in the Stuyvesant case, does not expect the Stuyvesant case to influence the decision on I.P.N.
“There’s nothing to link the two cases,” said Meister, who launched the most recent unsuccessful Stuyvesant appeal on behalf of the Real Estate Board of New York.
Stuyvesant Town’s owners received about $25 million in tax breaks over 17 years, Meister said, while Independence Plaza’s owners received much less money over a shorter period of time. Harold Cohn, the former owner of I.P.N., started receiving the J-51 tax abatement of $7,550 a year in 1998 and Gluck continued receiving it after he bought the building in 2003.
Meister has argued that the city was supposed to discontinue the tax break when Gluck removed I.P.N. from the Mitchell-Lama middle-class housing program in 2004, but instead the city continued the tax break by mistake until 2006. Then, Gluck stopped receiving the benefit and paid back about $17,000. Dallas News, "Owner of Las Colinas' Four Seasons misses payment,
could default, lawyer says"
Lawyer Stephen Meister said Los Angeles-based BentleyForbes missed a scheduled payment in October to mortgage holder CW Capital, which has been cool to the company's plan to pump additional funds "in the range of $10 million" into the exclusive resort.
Meister described missing the payment as a tactical move.
"We declined to add money in order to get their attention," he said. 11/5 Stephen Meister on Fox Business News,
"Goldman Sachs to Buy Low Income Tax Credits"
New York Times, "In TriBeCa, a Face-Off Over City Tax Breaks and Rents"
Stephen Meister, the lead lawyer representing Mr. Gluck in the case, said that since the city retroactively terminated the benefits as of the Mitchell-Lama exit date, the units never became subject to rent stabilization. He said the J-51 benefits were inadvertently granted, because they were supposed to end when the buildings left the Mitchell-Lama program.
“This whole notion that the whole thing should be turned topsy-turvy because of a minuscule amount of J-51 benefits that were mistakenly or inadvertently allowed to continue, and then later reversed and repaid, is ludicrous,” Mr. Meister said. 10/30 Stephen Meister on Fox Business News,
"Goldman to Buy Fannie Tax Credits?"
10/30 Stephen Meister on Fox Business News,
"Meister on Commercial Real Estate Failures"
10/28 Stephen Meister on Fox Business News, "Homebuyer Credit Hurting Housing"
New York Times, "Impact of Ruling in Stuyvesant Town Case Could
Take Years to Determine"
Mr. Meister said, “the overarching issue is retroactivity.”
“The tenants could win anything from hundreds of millions of dollars to zero,” he said. “They may not get a dime.”
Read the article
10/16 Stephen Meister on Fox Business News—Bulls & Bears,
"Commercial Real Estate the Next Gov't Bailout?"
"Help for Homeowners Has NOT Arrived!"
9/30 Stephen Meister on Fox News with Neil Cavuto,
"Homebuilder against Housing Bailout"
9/29 Stephen Meister on Fox Business,
"Government Considers Extending Buyer Credit"
9/24 Stephen Meister on Fox Business, "Home Sales' Meaning for Recovery" New York Real Estate Journal, "Meister Seelig & Fein LLP: The go-to law firm for today's entrepreneurs who want to get deals done"
In describing his practice and his firm, Kasindorf proudly asserts that his clients enjoy the highest quality legal services in an intimate and accessible small firm environment. The firm's responsiveness and efficient handling of matters entrusted to them, comes at a rate that is nearly a third less than that charged by the large New York City firms; and in this environment, that's a tremendous advantage. Bloomberg, "Goldman Sachs Sued by Landlord Over Lease Dispute"
“Goldman is going to pay Moinian what they owe him --$75 million,” Stephen Meister, the developer’s attorney, said in a statement. “Their cozy deal with AIG will not withstand judicial scrutiny.” Crain's New York Business.com, "Goldman sued over AIG sublease deal"
“Goldman pushed Moinian too far—thinking he would not push back,” said Stephen Meister, who is representing Mr. Moinian. “Goldman’s cozy deal with AIG will not withstand judicial scrutiny.” New York Post, "Tower of Trouble: Developer Strikes Back in Dispute with Goldman"
"This leasing scheme was a contrivance to defeat the plain purpose of the lease and now they can't sue to enforce the arrangement," said Stephen Meister, Moinian's lawyer. The Real Deal, "Foreclosure sought at Alexico East Side project"
Attorney Stephen Meister, partner with Meister, Seelig & Fein..said lenders in such a situation had limited options considering the poor economy. Miami Herald & Sun Sentinel, "Las Olas Centre owner faces foreclosure on Wachovia loan"
BentleyForbes contends that Wachovia asked to help underwrite the company's proposed initial public offering and urged BentleyForbes to buy the Las Olas Centre with temporary financing provided by the bank. The parties agreed that the loan would be repaid from the proceeds of the offering, but the IPO market later collapsed, said Stephen Meister, a lawyer for BentleyForbes.
"They're trying to strip us of our equity and our hard work, without any chance to ... work out the terms of this," Meister said. Stephen Meister on Fox Business, "Prepare for Commercial Real Estate Bust"
Stephen Meister, Addressed Grubb & Ellis Brokers
Stephen Meister, founding partner of the firm of Meister Seelig & Fein, and one of the country’s foremost real estate attorneys who represents a virtual who’s who of real estate developers and, addressed an overflow gathering of Grubb & Ellis real estate brokers, who wanted to hear what Mr. Meister had to say about opportunities in the current real estate market. Grubb & Ellis is one of the largest and most respected commercial real estate service and investment companies in the United States. South Florida Business Journal, "Las Olas Centre owner faces foreclosure"
“BentleyForbes is outraged by Wachovia’s suit,” New York attorney Stephen B. Meister, who represents the landlord, said in an e-mail, responding to South Florida Business Journal questions about the foreclosure action. Daily Business Review, "Las Olas: Lender files action against Las Olas Centre"
Las Olas Centre, which is 95 percent occupied, features a number of big-name tenants, including Huizenga Holdings, the investment company of former Miami Dolphins owner H. Wayne Huizenga; the Broward office of the Adorno & Yoss law firm; and the financial services firm Smith Barney.
“BentleyForbes is outraged by Wachovia’s suit,” attorney Stephen B. Meister, of Meister Seelig & Fein, who represents BentleyForbes, said in a written statement.
He said Wachovia “urged BentleyForbes’ to acquire the Las Olas Centre with temporary financing ... which all parties knew was to be repaid out of the IPO proceeds” from a planned stock offering by the property owner.
Read the article (subscription required)
CityFeet.com, "APPEALING J-51 RULING"The Real Estate Board of New York has retained Stephen Meister, founding partner of Meister Seelig & Fein, to file an amicus brief seeking permission to appeal the recent unanimous decision by the State’s Appellate Division, First Department, concerning the impact of J-51 tax abatement benefits on the luxury decontrol under Rent Stabilization Laws of apartments at Stuyvesant Town and Peter Cooper Village. Crain's New York Business.com, "Developer says junior lender blocking foreclosure"
Mr. Gluck’s lawyer, Stephen Meister, said he filed the suit to insure that Realty Finance couldn’t sue his client.
“Larry Gluck is one owner who is trying to do the right thing,” Mr. Meister said. “He doesn’t want to fight the foreclosure.”
Mr. Gluck and partner Rockpoint Group purchased the complex in 2005 for $131 million. A year later, they refinanced with a $25 million loan from what is now Realty Finance and a $225 million loan that is now owned by Wells Fargo.
Crain's New York Business.com, "More trouble for Swig’s real estate empire"My clients were iced out,” said Stephen Meister, attorney for the two men. He said his clients own 70% of the building. Real Estate Weekly, "Courts grant Tishman Speyer right to appeal"
"I was very pleased that the Appellate Court granted permission to appeal." said Stephen Meister, a lawyer hired by REBNY who is acting as an amicus curiae in the case. "It was the right decision because it's an issue of grave importance to New York City. The Real Deal, "Fortress buys Sheffield57 at auction for $20M"
"I did expect Fortress to prevail because the terms of the auction were such that it was very difficult for others to bid," said Stephen Meister, attorney for Levy and Hoyda. The Wall Street Journal, "Behind a Bankruptcy Brouhaha "
David Lichtenstein is facing challenges to the plan that took his Extended Stay Hotels chain into bankruptcy protection. At stake for the real-estate investor: Whether the filing could trigger $100 million of personal liability that he has tried to avoid. The Wall Street Journal, "Hotel Creditors May Have an Extended Stay "
Read the article"My clients intend to get a court order restraining the lenders from seeking to take over the property," said Stephen Meister, an attorney at Meister Seelig & Fein LLP, who represents the duo mezzanine investors. Downtown Express, "Letters deliver each side’s case at I.P.N."
Landlords who are renovating their buildings can apply for a J-51, which reduces their property tax but also puts the building under rent-stabilization. Meister said Independence Plaza’s abatement was only $7,550 a year, a relative drop in the bucket of property taxes that now run about $8 million a year. In contrast, Tishman Speyer Properties, Stuyvesant’s owner, received $24.5 million in J-51 tax breaks. Crain's New York Business.com, "Tishman Speyer to appeal rent-dereg ruling"
Tishman Speyer said in a statement it was pleased the motion to appeal was granted and that it looked forward to the Court of Appeals ruling on the issue.
“I’m delighted,” said Stephen Meister, who filed a friend of the court brief on behalf of the Real Estate Board of New York supporting the request for appeal. “It was the right thing to do. This is a matter of supreme importance.”
NY Daily News, "Boon for tenants bane for landlor"More than 300,000 New York tenants could reap the rewards of a major court ruling that bars landlords who got special tax breaks from pushing apartments out of rent control.
The ruling found thousands of tenants have been overpaying for years and may be entitled to huge refunds.
Wall Street Journal, "Fed Grapples With Extended Stay"At the same time, the small group of investors that supported the deal agreed to shield Mr. Lichtenstein from the "bad-boy" provision. That deal "must be investigated in order to preserve the integrity of the Chapter 11 process," said Stephen Meister, an attorney at Meister Seelig & Fein LLP, who represents two junior creditors who filed a lawsuit. Bloomberg, "Cerberus Was Part of Extended Stay Scheme, Suit Says"
“After stopping that brazen plan, we learned that hedge funds Cerberus and Centerbridge offered Lichtenstein immense protections and inducements to file bankruptcy,” Meister said in an e-mailed statement. “None of these banks or hedge funds is looking to preserve and stabilize the hotel chain as they would have you think.” New York Times, "Assault Accusations, a Lawsuit and a Notorious Condo Deal"
“Yair Levy and Serge Hoyda, investors in the Sheffield Sponsor, have been victimized by Kent Swig, who took millions in loan advances from the senior lenders, Wells Fargo and Guggenheim, when those lenders knew Swig was vastly over budget and knew or should have known that Swig was using the loan proceeds for personal purposes,” said Stephen B. Meister, a lawyer for Mr. Levy and Mr. Hoyda. “They are now attempting to sell their loans to investors who intend on foreclosing.” The Real Deal, "REBNY hires attorney to fight pro-tenant Stuy Town ruling"
The Real Estate Board of New York has retained prominent real estate attorney Stephen Meister to appeal the landmark Appellate Court ruling from earlier this month that restored rent stabilization rights to thousands of current and former tenants at Stuyvesant Town-Peter Cooper Village. AmLaw, "This Week in Law: The Internet Olympics"
AllBusiness, "REBNY taps Meister for Tishman rent battle."
Lawyer Stephen Meister, will represent REBNY as an amicus curiae if a recent State Supreme Court ruling that determined the owners of Stuyvesant Town and Peter Cooper Village had improperly deregulated apartments is granted an appeal. Lawrence Morrison ESQ. Joins Meister Seelig & Fein
Meister Seelig & Fein LLP, a highly regarded and prominent law firm that focuses primarily in real estate, corporate and commercial litigation, employment law, all aspects of bankruptcy, and entertainment law, announced today that Lawrence Morrison has joined the firm as a partner. The announcement was made by Managing Partner, Mark Seelig: "We are pleased that such a prominent and highly seasoned attorney as Lawrence Morrison has joined our firm. His expertise will enhance our ability to expand our services to an ever larger client base."
Meister Seelig & Fein Announces the Addition of Four New Partners and the Formation of the Entertainment and New Media Practice Group Co-Chaired by Two of the New PartnersMeister Seelig & Fein LLP, has added four new partners: Elaine M. Rogers, Barry M. Perlman, Mitchell Lampert, and Sidney D. Bluming; in addition, the firm has established an entertainment, sports and new media practice group and has opened an office in Boston. The announcement was made by Managing Partner, Mark Seelig. Mr. Seelig stated: "We are pleased that such creative and highly seasoned attorneys have chosen to join our firm. The addition of two highly regarded entertainment attorneys such as Elaine and Barry will enhance our ability to continue to expand our entertainment practice, which is one of our fastest growing practice groups."
Meister Seelig & Fein Broadens its Services to its Clients: Adds Highly Experienced Bankruptcy and Senior Litigation PartnersNew York, NY--- "Meister Seelig has expanded its bankruptcy and litigation departments, offering greater in-depth services to clients, by adding highly seasoned attorney James Ringer. He is highly regarded as a brilliant attorney in commercial litigation." The announcement was made by Mark Seelig, managing partner.
Jim Ringer specializes in international and domestic commercial litigation and arbitration. His practice encompasses class actions, securities, acquisitions, contracts, insurance, antitrust, partnerships, intellectual property, alcohol beverage law and distribution contracts, franchises and termination. Mr. Ringer has had extensive experience in securities litigation and has also represented individuals and companies in insider trading investigations by the SEC and related litigation. He has handled several trademark and trade-name infringement disputes and multi-faceted disputes involving claims of infringement of biotechnology patents, breach of contract, fraud and antitrust. Mr. Ringer was formerly a partner at the international law firm Clifford Chance and its predecessor Rogers & Wells.
The addition of Jim as a partner compliments the experience of other MSF attorneys in the real estate, corporate and litigation areas. The expansion of the firm's Bankruptcy and Creditors' Rights and Litigation Groups, enables Meister Seelig & Fein LLP to offer enhanced expertise to better service our clients in the current market and for the long term.
Meister Seelig & Fein LLP is a boutique commercial law firm comprised of more than 30 attorneys and has a highly regarded reputation for its outstanding legal representation of public and private clients, high net worth individuals, entrepreneurs, and real estate developers and investors. Its clients include some of New York's most important real estate developers, and entrepreneurs and the firm is regularly called upon by a who's who in the real estate and private corporate worlds for its in-depth knowledge and seasoned expertise in matters involving complex real estate, corporate and finance transactions. In addition to its offices in New York City, the firm has offices in Los Angeles and New Jersey.
For inquiries please contact Meister Seelig & Fein LLP at 212-655-3500 or on the internet at www.meisterseelig.com
New York and Philadelphia Law Firms Form AffiliationNew York, NY ---The New York-based law firm of Meister Seelig & Fein LLP has announced that it has formed an affiliation with the Philadelphia-based, regional law firm of Obermayer Rebmann Maxwell & Hippel LLP.
Stuart Rich, a partner at Meister Seelig & Fein, LLP, who practices commercial real estate, corporate, and bankruptcy law representing owner developers, lenders, purchasers and investors, stated: We are pleased to have formed an affiliation with Obermayer Rebmann Maxwell & Hippel, for it will mean that our clients will have an even broader range of services than had been previously available. In addition, the Obermayer firms presence throughout the Mid-Atlantic region should benefit our broad range of clients both inside and outside the New York Metropolitan area.
Robert Whitelaw, managing partner at Obermayer Rebmann Maxwell & Hippel and co-chair of the firms Litigation Department, said: Our affiliation with Meister Seelig & Fein means that many clients will now have the benefit of our representation in the financial capital of the world. Our more than 140 attorneys will be able to call upon the highly skillful legal resources of our New York affiliate, thus expanding our services within an important and vital marketplace.
Meister Seelig & Fein LLP is a boutique commercial law firm comprised of more than 30 attorneys and has a highly regarded reputation for its outstanding legal representation of public and private clients, high net worth individuals, entrepreneurs, and real estate developers and investors. Its clients include some of New Yorks most important real estate developers and entrepreneurs and the Firm is regularly called upon by a whos who in the real estate and private corporate worlds for its in-depth knowledge and seasoned expertise in matters involving complex real estate, corporate and finance transactions. In addition to its offices in New York City, the Firm has offices in Los Angeles and New Jersey.
Obermayer Rebmann Maxwell & Hippel, LLP is a full service law firm comprising more than 140 lawyers and is headquartered in Philadelphia, with offices in Harrisburg, Pittsburgh and Altoona, Pennsylvania; Cherry Hill, New Jersey; and Wilmington, Delaware. Obermayer has practice areas in business and finance, litigation, labor and employment, creditor's rights, environmental, health care law, intellectual property, regulatory, government relations and fiduciary law.
Founded in Philadelphia in 1904, Obermayer is one of the Mid-Atlantic's most respected law firms. Throughout its history, it has provided comprehensive legal services to a diverse client base, including Fortune 500 corporations, technology companies, prominent regional businesses, banks, insurance and lending institutions, hospital and physician groups, charitable and non-profit institutions, municipalities, public utilities, fiduciaries and individuals. In the area of labor relations and employment law the firm has one of the finest reputations in North America.
For further information on the law firms, please visit www.meisterseelig.com and www.obermayer.com
Meister Seelig & Fein LLP Announces Affiliation With Australia-Based Law FirmMeister Seelig & Fein, LLP is proud to announce that it has entered into an affiliation with Australia-based law firm, Rotstein Lockwood Reddy.
Rotstein Lockwood Reddy is a well regarded corporate and commercial law firm with main offices located in Melbourne and Sydney Australia. The firm also has a significant presence in India. Rotstein Lockwood Reddy's practice areas include Competition & Market Regulation, Mergers & Acquisitions, E-Commerce, IT Law Employee Relations, Intellectual Property, Real Estate, Litigation and Dispute Resolution, Sports & Entertainment, Franchising, and Telecommunications.
Jeffrey Kimmel, a Partner at Meister Seelig & Fein, commented that "the alliance of these two firms provides clients with seamless cross-border services, combining local knowledge with global experience, particularly in the United States, Australia, United Kingdom and India."
NJ Supreme Court Declares Alcotest® 7110 Scientifically ReliableMSF represents Draeger Safety Diagnostics, Inc., the manufacturer of the Alcotest® 7110, a sophisticated, microprocessor-based evidential breath testing instrument that is used around the world. New Jersey, and other United States jurisdictions, have chosen the Alcotest® to replace their aging and obsolete Breathalyzer® devices, which are based on fifty-year-old technology.
On March 17, 2008, the New Jersey Supreme Court became the first State high court in the United States to find such a device scientifically reliable, when it declared that the Alcotest® satisfied the rigorous tests for scientific reliability. In reaching its conclusion in State v. Chun, 194 N.J. 54, 943 A.2d 11, 2008 WL 695544 (March 17, 2008), the Court adopted virtually all the fact findings in the reports its Special Master issued after almost twenty weeks of hearings on the instrument's reliability. It also rejected the challenges to the device mounted by twenty defendants during the contentious and vigorously litigated hearings.
MSF partner, Jeffrey Schreiber, represented Draeger in connection with the hearings and argued the case for Draeger in the New Jersey Supreme Court in March 2007 and January 2008.
Click here for a link to a New York Times article on the decision.
MSF Makes New Law Under the New Jersey's Sales Representatives' Rights Act, NJSA 2A:61A-1 et seq, Obtaining Dramatic Reversal of Erroneous Damages award in Appellate DivisionMSF represented the plaintiff, Kas, in Kas Oriental Rugs, Inc. v. Ellman, 394 N.J. Super 278 (App. Div.), certif. denied, 192 N.J. 74 (2007), the first Appellate Division case construing the fee shifting provisions in the New Jersey Sales Representatives' Rights Act, NJSA 2A:61A-1 et seq (the "New Jersey Statute"). The case arose when Kas terminated Ellman, its New Jersey sales representative, and Ellman asserted various claims against Kas, including claims under the New Jersey Statute, contract and quantum meruit/unjust enrichment theories. As a result of MSF's arguments on appeal, instead of being liable for damages to its terminated representative Kas is entitled to recover the substantial attorney's fees and costs it incurred defending against the representative's claims.
Kas was represented throughout this matter by MSF partner Jeffrey Schreiber and Special Counsel Racquel Crespi Weintraub.
FIVE MSF PARTNERS NAMED 2007 NEW YORK SUPER LAWYERSBenjamin Fein, Stephen Meister, Mark Seelig, Matthew Kasindorf and Jeffrey Schreiber have been listed among the 2007 New York Super Lawyers.
"Super Lawyers are the top 5 percent of attorneys in each state, as chosen by their peers and through the independent research of Law & Politics. Law & Politics performs the polling, research and selection of Super Lawyers in a process designed to identify lawyers who have attained a high degree of peer recognition and professional achievement. Super Lawyers is a comprehensive and diverse guide to outstanding attorneys, representing a wide range of practice areas, firm sizes and geographic locations. Only 5 percent of the lawyers in each state or region are named Super Lawyers" (www.superlawyers.com).
Click here to download Super Lawyers article
MARK SEELIG GIVES LECTURES AT ESTATE PLANNING SEMINARSMark J. Seelig has recently given lectures to various groups in the New York City area. On October 3, 2007, he presented an overview of estate planning to the International Executive Resources Group. The seminar outlined basic estate planning techniques aimed at (1) establishing a coherent and effective plan for the allocation, distribution and control of a person's assets following his or her death, (2) building a legacy or making a charitable contribution and (3) minimizing taxes applicable to one's property. The presentation also included a synopsis of how federal and state legislation has, and continues to, affect estate planning and estate taxes. The presentation further explained common mistakes that are made when planning an estate, as well as how to avoid them.
NORMANDY SELLS FORT LEE TROPHYMatthew Kasindorf represents Normandy Real Estate.
MATTHEW KASINDORF RECEIVES EXCELLENCE IN TEACHING AWARDReal Estate Department Co-chair Matthew Kasindorf received the coveted "Award for Teaching Excellence" from New York University Dean Robert S. Lapiner for his work at the renowned NYU Real Estate Institute Masters Program.
"As soon as Matt walked into my office for an interview, I knew he had the right stuff. Aside from his poise, polish, and preparation, it was clear immediately that this was a person that our students would love. As an attorney working on the most complex financial deals, my first inclination was to assign him to a finance class, but Matt wanted to stick with his roots and chose to teach the Legal Principles and Practices core course. He was an instant and huge success. When we think of the phrase 'the smartest guys in the room,' we think of Matt. He presents material with clarity and an engaging style that is unique and appealing. His student evaluations hum with praise every semester. We are truly delighted to be able to recognize Matt for his superb contribution to our school." -Daniel Boffey, former director, Administration and Programs, NYU Real Estate Institute
SQUARE FEET; A RELATIVE BARGAIN IN A CORNER OF THE VILLAGEClick on the above link to download a copy of the article featuring comments by Partner, Matthew Kasindorf.
RETAIL DOMINATES IN NEW YORK AND NEW ENGLANDThe retail sector continues to be a hot commodity in the Northeast.
Moderated by Jerrold France, Randall Shearin and Stephanie Mayhem.
Shopping Center Business and Northeast Real Estate Business recently held two retail roundtable discussions in two of the most dynamic markets in the Northeast. The annual New York Retail Roundtable was held at the New York City office of Meister, Seelig & Fein LLP, and the inaugural New England Retain Roundtable was held at the Boston office of Goulston & Storrs. Brokers, developers and lenders came together to discuss the current trends and the health of the retail sector in these thriving markets. A retail destination for decades, New York City continues to evolve and grow, offering shoppers some of the best retail products in the country. New England retail continues to prosper as well, as new mixed-use developments and lifestyle centers populate the landscape.
(Northeast Real Estate Business)
MSF CLOSES 1100 UNIT APARTMENT COMPLEX IN NJMeister Seelig & Fein closed the acquisition of an 1100 unit apartment complex in Collingswood, New Jersey for $70 million dollars including $50 million in bond financing from Camden County Improvement Authority. The project also included negotiation of certain tax abatement agreements with the Borough of Collingswood and Camden County with respect to rehabilitation of the property. The client acquired the property in joint venture with Guggenheim Real Estate Partners and was represented by Stuart Rich and Scott Newmark.
STONEHENGE PARTNERS DEVELOPS LARGE RENTAL COMPLEX ON THE UPPER WEST SIDE OF MANHATTANMeister Seelig & Fein represented Stonehenge Partners on the purchase of a complex containing two 14-story elevator buildings and a 520,000-square foot, two-story commercial building between 96th and 97th Streets on Amsterdam Avenue. They will rename the building Stonehenge Village. The building houses 418 residential units and seven commercial spaces. Stonehenge Partners plans to develop the property as rental units. Matthew Kasindorf represented Stonehenge.
MEISTER SEELIG & FEIN NEGOTIATES DIGITAL DISTRIBUTION DEAL BETWEEN iMESH AND SONYIn the wake of the settlement of its high profile copyright infringement lawsuit with the four major U.S. record companies, iMesh has now reached a music licensing deal with the record company SonyBMG. The deal allows iMesh to distribute to users SonyBMG content in a legal peer to peer ("P2P") environment. iMesh is one of the original P2P file trading sites and intends to soon launch a new application utilizing an innovative P2P platform that prevents users from exchanging unauthorized content. Jeffrey Kimmel and Jeffrey Schreiber at MSF represented iMesh in the copyright infringement lawsuit. Jeffrey Kimmel and Debora Stegich of MSF negotiated the SonyBMG license deal on behalf of iMesh.
REAL ESTATE DEPARTMENT CO-CHAIR MATT KASINDORF HOSTS SYMPOSIUM OF RETAIL EXPERTSClick the link above to view the December 2007 Northeast Real Estate Business article