NEW YORK, Sept. 6, 2023 /PRNewswire/ — As industry experts predict a looming real estate bust, Jacobs PC, a leading law firm in the industry, announces a strategic move by bringing on board three new partners. These additions are expected to bolster the firm’s capability to navigate the impending real estate and bankruptcy challenges and provide top-tier service to its clientele.
Founder Leo Jacobs has always believed in such a proactive approach. “The world of real estate is ever-evolving,” says Jacobs. “By strengthening our team now, we’re ensuring our clients have the support they need to navigate the real estate downturn. And, it is coming.”
JPC works with debtors, investors, and guarantors on in-court and out-of-court restructuring processes, bankruptcy, and modification for loans with CMBS lenders, and private money managers. JPC also advises fiduciaries, shareholders, partners (General and Limited Partners) on fiduciary disputes.
Out-of-court workout case: A $50MM international middle market manufacturer of style-footwear goods for luxury outlets and its own independent brand fell cash-flow negative for the first time in 25 years and was under judgment enforcement from one of its landlords and others. JPC attorneys created certain business and workout objectives to aggressively defend the landlord’s prosecution and halted landlord enforcement proceedings, settling the matter permanently. JPC attorneys managed to downsize the tax liability of the founder and CEO by approximately $10MM.
Fiduciary dispute case: A $40MM logistics and trucking subsidiary of a multi-national multi-billion dollar publicly traded shipping and logistics company found that its minority shareholder was siphoning hundreds of thousands of dollars from company operating accounts and obtained a temporary restraining order accusing the subsidiary of such. JPC attorneys successfully moved to vacate the court order and subsequently successfully defended a summary judgment claim for an accounting of the minority shareholder.
Bankruptcy case: A multi-million-dollar construction and design company was facing a fiduciary enforcement action of the estate of their deceased partner and financial fiduciary. JPC attorneys successfully filed for Chapter 11 to reorganize the debts of the company and stop enforcement proceedings. JPC attorneys successfully vacated any restraining orders and settled the action upon favorable terms of their client.
Commercial litigation case: JCP attorneys successfully dismissed a lawsuit brought by a landlord seeking $15 million against individual guarantors pursuant to the doctrine of res judicata.
Jacobs PC has consistently been at the forefront of real estate law, advocating for its clients’ best interests. “This isn’t just about preparing for a downturn; it’s about ensuring our clients have the best minds in the industry on their side,” remarks Jacobs. The new partners joining Jacobs PC include:
Mitchell G. Mandell, Senior Partner — Renowned in the real estate legal community, Mandell brings nearly four decades of expertise in property litigation and transactions.
Wayne M. Greenwald, Senior Counsel — Greenwald has been focused on debtor-creditor law for more than 30 years. He formerly served as co-chair of the American Bankruptcy Institute’s commercial fraud task force.
Lewis S. Fischbein, Partner — A specialist in commercial litigation, Fischbein’s track record illuminates his success in navigating complex disputes.
About Jacobs PC
Jacobs PC is a boutique commercial litigation/disputes, workout/restructuring, real estate, and bankruptcy law firm known for finding creative, direct and expedient solutions to complex, high-profile legal issues. The firm zealously builds trusts and long-standing relationships with clients who seek to forge speedy, practical paths forward.
About Leo Jacobs
Leo Jacobs is a commercial litigation and bankruptcy attorney & the founder of Jacobs PC. From the courtroom to the board room, Leo has a demonstrated talent for devising, positioning, and advancing arguments that mitigate risk and reach successful outcomes.
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