Honig, Glambosky, Gordon and Spero Close Multimillion-Dollar Deal

March 26, 2019 | Real Estate, Zoning & Land Use | Bankruptcy

On March 26, Jeremy Honig, Erez Glambosky, Stu Gordon and Matt Spero were successful in bringing to a close a long-running, multimillion-dollar litigation involving our client (the Board of Managers of a condominium located in Tribeca), a commercial unit owner at the condominium (the landlord), and a restaurant-bar operating at the commercial unit (the tenant).

After years of complaints about noise and nuisances caused by the tenant, the condominium (represented by Jeremy and Erez) commenced litigation against the landlord seeking damages and removal of the tenant in 2017.

The tenant ultimately filed for bankruptcy under Chapter 11 in 2018, after which time (and with continued pressure by Jeremy, Stu and Matt) it finally terminated some, but not all, of the activities causing the nuisance.

Stu and Matt were able to leverage the tenant’s inability to reorganize by successfully moving to have the case converted to Chapter 7 so a trustee could be appointed, and Jeremy was able to use that to convince the landlord to settle with the condominium by paying damages/legal fees and agreeing to remove the balance of the nuisance-causing equipment.  The condominium is thrilled to have the premises nuisance-free for the first time in many years.

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