Matters

The Promotion In Motion Companies – 98,000-Square-Foot Lease – New Jersey

Represented The Promotion In Motion Companies in a ten-year lease of approximately 98,000-sq.-ft. of office and warehouse space with a fitness center and a private lobby in Park Ridge, New Jersey. Promotion In Motion is one of the nation’s leading makers of brand name snacks and confections and one of the 50 largest global candy companies.

New Market Tax Credits – Redevelopment of Indiana Industrial Facility

Represented a regional bank and their investment partner in financing the modernization and expansion of an industrial facility in Indiana. The facility will add approximately 20,000-sq.-ft. of additional manufacturing space which will be used for additional manufacturing lines.  Once final, the renovated and updated facility will create an additional 20 to 30 jobs in the community.

DH Property Holdings – $154.7 Million Financing – Brooklyn, NY

Represented DH Property Holdings LLC in connection with a $154.7 million construction and mezzanine financing for a last-mile distribution facility in Red Hook, Brooklyn.

DH Property Holdings – Financing for Brooklyn Distribution Center

Represented DH Property Holdings LLC in the construction loan and mezzanine loan financing for a distribution center in Brooklyn, New York.

G4 Capital Partners – $71 Million Construction Loan in Brooklyn, NY

Represented an affiliate of G4 Capital Partners LLC in connection with a $71-million construction loan to be used for the construction of a mixed use building with more than 165,000-sq.-ft. of residential space, a community facility and parking spaces for a development at 2300 Cropsey Avenue, Brooklyn, NY.

Historic & New Market Tax Credits – Redevelopment of Historic Building Philadelphia, PA

Represented a regional bank and their investment partner in financing the acquisition and redevelopment of a historic building in Philadelphia into a 254,000-sq.-ft. public health campus which will serve the local community and for which the bank will receive New Markets Tax Credits. The project was also financed with Historic Tax Credits due to the nature of the building’s historical importance.

New Market Tax Credits – Large Ohio Redevelopment

Represented a regional bank and their investment partner in financing the acquisition and redevelopment of an approximately 800,000-sq.-ft. facility in Ohio to serve as a new distribution and products assembly center for a farm supply store which will breed new jobs and opportunity for the community and for which the bank will receive New Markets Tax Credits.

Menswear Designer and Manufacturer – Licensing Agreement Dispute

Represented a formal menswear designer and manufacturer as defendant and third-party plaintiff in a dispute over alleged material omissions made during negotiations to renew a licensing agreement for several well-known clothing brands.

Private Equity Firm – Breach of Contract Claims

Defending a global life sciences private equity fund, several related entities and individual defendants in a federal lawsuit brought by a former general counsel and partner alleging breaches of certain partnership and employment agreements.

Board of Managers – Construction Defect Litigation with Sponsor

Representing the Board of Managers of a two-building condominium in Brooklyn Heights in a dispute with the building’s sponsor over a myriad of alleged constructions defects and instances of non-compliance with the offering plan.

$650,000+ FINRA Arbitration Award

Secured an FINRA arbitration award of more than $650,000 on behalf of a retail brokerage against the firm’s former clearing house, which was alleged to have unlawfully refused to release the client’s funds. Herrick successfully argued that the termination provision in the standard clearing agreement functioned as a penalty rather than as liquidated damages, and therefore could not be enforced. The FINRA panel also required the clearing house to deliver over 10,000 shares of a NASDAQ traded biotechnology company to our client while dismissing the respondent’s counterclaim.

Ireland-based Technology Company – Advisory Firm’s Breach of Contract Claims Dismissed

Secured the dismissal of all claims against an Ireland-based software company and its US subsidiary filed in New York state court by an advisory firm alleging our client had breached the terms of a service agreement in which the plaintiff was to either find a buyer for the company or find entities willing to provide financing.  Asserting breach of contract, fraudulent inducement and unjust enrichment, among other causes of action, the plaintiff further alleged that the agreement was breached just prior to a transaction which would have entitled the plaintiff to a significant fee.  In its order, the court agreed that the plaintiff had failed to establish jurisdiction over the Ireland-based parent and that the U.S.-based entity was never a party to the agreement at issue.