Counsel to Mortgage Lender on New York City Hotel

Mortgage lender on the W Hotel in Union Square in New York City
Counsel to mortgage lender on the W Hotel in Union Square in New York City. This case, filed in the Delaware Bankruptcy Court, posed a number of unique legal issues because the hotel parent entities were the debtors in the case but the hotel borrower was not in bankruptcy. During the course of the bankruptcy, we successfully defended the lender's position and prevented the debtors from altering the terms of the governing mortgage loan and management agreements.
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Jay M. Sakalo

Jay M. Sakalo

Partner, Business Finance & Restructuring and Corporate Practice Group Leader
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Experience
Successful representation of California bank in complex mortgage foreclosure debt recovery action through state court and bankruptcy court in the Southern District of Florida, which resulted in the criminal indictment of the borrower´s principal for bank fraud.
Experience
Representation of Oleta Partners, LLC, a joint venture comprised of affiliates of the LeFrak Organization and Turnberry Associates, in the successful negotiation of the long-term ground lease and complicated leasehold financing for a 185-acre brownfields redevelopment site in the City of North Miami...
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