General Counsel to Equity Receiver Over Non-Profit Biomedical Research Institute

Representation of the court-appointed equity receiver over Vaccine & Gene Therapy Institute of Florida Corp. ("VGTI"), a non-profit, biomedical research institute established in 2008 with the assistance of a $60 million grant from the State of Florida's Innovation Incentive Fund intended to anchor and drive the State's expansion strategy for biomedical research. Construction of VGTI's state-of-the-art research facility in Port St. Lucie was funded by a mortgage loan from the City of Port St. Lucie, which was in turn funded by a $64 million bond issuance. In a general counsel role to the receiver, Bilzin Sumberg assisted in all aspects of the fulfillment of the receiver's duties including investigating the affairs of VGTI, managing and marketing VGTI's real property, and working with stakeholders in order to maximize of the recovery for creditors.