Representing a condominium board with respect to construction defect claims against sponsor and principals. The case is Board of Managers of 252 Condominium v. World-Wide Holdings Corp., et al. (N.Y. Sup. Ct.).
Represented Milwaukee Bucks co-owner, Marc Lasry, in the sale of his 25 percent stake in the team to Cleveland Brown owners Jimmy and Dee Haslam. According to ESPN, the transaction struck at a $3.5 billion valuation was the second highest valuation ever paid for an NBA team and the third highest valuation for any American professional sports team. It was a tremendously successful conclusion to Mr. Lasry’s tenure as an owner and steward of the championship Bucks.
Representing secured and DIP lenders in the bankruptcy of real estate developer and hotelier, Urban Commons 2 West LLC and certain affiliates (“Urban Commons”), which defaulted on hotel loans during the COVID-19 pandemic and filed for chapter 11 protection in November 2022. On behalf of its secured lender clients, Herrick has negotiated the post-petition financing, bid procedures, sale milestones, disclosure statement and plan of reorganization, recently securing a critical win on behalf of its clients regarding the treatment of escrowed insurance proceeds as property of the estate in February 2023. This matter is ongoing.
Counsel to Reorganized SunEdison, Inc. concerning indemnity claims asserted by the syndication agent and lead arranger for a pre-petition second lien loan facility.
