Law – Jaspan Schlesinger, LLP

How Commercial Litigators Help Clients Both Pre- and Post-Litigation

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Jaspan Schlesinger, LLP, is a full-service firm comprised of 19 distinct practice areas. Collectively, the 60 attorneys at Jaspan Schlesinger, LLP, are equipped to handle a wide variety of legal issues, including matters involving commercial litigation.

Commercial litigators represent businesses in legal disputes. Commercial practice includes a range of areas, including contract breaches, mergers and acquisitions, securities, intellectual property, regulatory proceedings, and consumer class actions.

“Litigation” technically refers to the process of pursuing or defending against a lawsuit once filed, but commercial litigators can assist in resolving legal disputes before they reach the litigation stage or in avoiding disputes altogether. Pre-dispute, commercial litigators may be retained to counsel clients on the effects of business decisions and help ensure compliance with regulations and laws. They can also conduct risk-benefit analyses to determine the best approach to avoid liability in the future.

Once a claim is filed, commercial litigators will defend or pursue the claim in the appropriate state, federal, or regulatory forum. The litigator’s role includes conducting discovery to gather facts and evidence in support of the case, reviewing documents central to the litigation, conducting research on sticky points of law, and deposing witnesses with knowledge of the issues. Litigators can also assist clients in resolving issues through mediation or negotiations, without the need for trial. In the event of a trial, the commercial litigator will represent the client before a judge or jury.

What You Should Know about Prenuptial Agreements

With 60 attorneys and 19 practice groups, Jaspan Schlesinger, LLP, handles cases in a wide range of practice areas, including marital and family law. The family law attorneys at Jaspan Schlesinger, LLP, handle multiple issues surrounding marriages and their dissolution, including the preparation of prenuptial agreements adherent to New York law.

What is a prenuptial agreement?

Prenuptial agreements are pre-marriage contracts between prospective spouses that preemptively resolve issues involving support and property division in the event of the couple’s divorce. Although prenups can cover a wide range of agreed-upon issues in addition to alimony and property division, a New York judge can override any agreements regarding child custody and defer to the best interests of the child.

What are the benefits of a prenuptial agreement?

Prenuptial agreements are generally designed to suit the individual needs of the couple. They can help delineate property pre-marriage, circumventing state laws regarding community property and allowing specified assets to stay within a family line. A clearly defined agreement regarding support or property division should also streamline and simplify the divorce process, reducing costs significantly.

Can I contest a prenuptial agreement?

Consensually signed and notarized prenuptial agreements will generally be upheld under contract law in New York. A prenup may be invalidated if a spouse can prove it was signed under duress, under fraudulent pretenses, or when the spouse was mentally incompetent. Agreements deemed severely unfair may also be invalidated.

The Basics of Lender Liability Suits in New York

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Founded in 1946, Jaspan Schlesinger, LLP, is a multi-faceted legal firm serving the needs of clients in New York and beyond. The Jaspan Schlesinger, LLP, team consists of 60 lawyers who specialize in areas ranging from real estate to commercial litigation, including disputes regarding lender liability.

On the rise, lender liability suits typically involve commercial borrowers who are either unable to qualify for funding or unable to meet their loan terms. They often center on failure to provide or fund a loan or on claimed interference with a project. The latter cases may involve the borrower being pressured into entering into contracts that make progress on the project impossible.

Another type of lender liability claim focuses on the lender breaking implied covenants of fair dealing and good faith by not acting in accordance with the documents that define the loan. In such cases, federal statutes as well as state laws governing aspects of lending such as breach of contract and breach of fiduciary duty come into play. Such cases may arise as complaints against a lender or as counterclaims within foreclosure proceedings.

With New York taking a strict approach in the enforcement of lenders’ rights and loan document terms, it makes sense to work with experienced counsel when handling such disputes.

Jaspan Schlesinger, LLP, Achieves Dismissal in Breach of Contract Case

A New York law firm with a client base spanning the globe, Jaspan Schlesinger, LLP, handles a wide range of practice areas, from real estate disputes to intellectual property. A recent Jaspan Schlesinger, LLP, press release brought focus to the firm’s successful defense of clients in Menghi v. Sterling Aircraft Materials, et al. (Suffolk Supreme Index No. 610716/16), a case involving a breach of contract claim.

The case centered on a former Sterling Aircraft Materials employee who retired in 2015 and alleged unpaid wages totaling $320,000. The action involved a claim that the company improperly changed its commission calculation formula in 2009 from one that had been in place since 1989.

Jaspan Schlesinger, LLP, successfully argued that the complaint should be dismissed for a number of reasons, including that the plaintiff was an “employee at will” who did not possess an employment agreement lasting a specific term. Under this type of arrangement, employment terms can be changed at any time. By agreeing to stay with the company following the institution of a new commission plan, the plaintiff was agreeing to the new commission system. For this and other reasons, the Court sided with the defendant and dismissed the complaint.

Like-Kind Exchanges under IRC Section 1031

Employing 60 attorneys across its two locations in New York, Jaspan Schlesinger, LLP, works closely with clients throughout the public and private sectors. One of many specialty areas at the firm, the real estate practice at Jaspan Schlesinger, LLP, frequently assists clients involved in like-kind exchanges under IRC Section 1031.

Under normal circumstances, property owners must pay taxes on any gains derived from the sale of business or investment properties. Under the terms of IRC Section 1031, however, property owners can defer paying taxes on these gains as long as they reinvest the proceeds from the sale in a similar property. It is important to note that these transactions are not tax free; the tax is simply postponed until a later date.

The most basic like-kind exchange involves a swap of one property for another. If this is not possible, individuals may qualify for tax deferment by selling a property and acquiring a similar one within 180 days of the sale. To qualify, both properties must be reserved for business or investment use, meaning that residential property is excluded from Section 1031. The quality or grade of the properties does not matter, but they must have a similar character, nature, or class.

Jaspan Schlesinger Becomes Legal Consultant for Co-Lab Factory

A full-service law firm with two offices in New York, Jaspan Schlesinger, LLP, employs more than 60 experienced attorneys and accepts cases in a wide range of practice areas. Jaspan Schlesinger, LLP, partner Robert Londin announced a collaboration with start-up studio Co-Lab Factory in March of 2017 that will provide Co-Lab with consultation on matters regarding commercial and corporate legal transactions.

Co-Lab Factory serves entrepreneurs and small businesses through the provision of co-working and event spaces designed to foster creativity, collaboration, and entrepreneurialism. Based in Downtown Brooklyn, the company operates with the goal of building a community of freelancers, start-ups, and small businesses. Londin will serve as the business’ on-site legal consultant.

The partnership comes at a time of rapid growth for the Downtown Brooklyn and Brooklyn Tech Triangle areas in new start-up businesses and entrepreneurial endeavors. Consultations with an on-site attorney will help the start-up businesses understand the legal factors at play and avoid accidental infractions and legal complications.

Jaspan Schlesinger Partner Wins Pro Bono Award

Anthony J. Falanga pic — Anthony J. Falanga
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Since 1946, Jaspan Schlesinger, LLP has offered comprehensive legal services to clients across a range of practice areas, including elder law, matrimonial law, and the banking and financial sectors. To ensure quality service, Jaspan Schlesinger, LLP retains a team of highly-skilled attorneys, counsels, and partners, including former New York State Supreme Court Justice, the Honorable Anthony J. Falanga, who currently functions as a partner in the matrimonial and family law practice group.

In May 2017, the Nassau County Bar Association announced Mr. Falanga as the recipient of its annual Thomas Maligno Pro Bono Attorney of the Year award in recognition of his commitment to providing pro bono legal services to underserved clients, thus ensuring those in need have access to reliable information and legal representation. Upon receiving the award, Mr. Falanga spoke about how satisfying it is to offer pro bono services to those in need, making particular mention of how his pro bono work helps those who have experienced domestic violence.

The Multiple Structures of a Section 1031 Exchange

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Jaspan Schlesinger, LLP, is a New York law firm with offices in Garden City and Suffern. Maintaining a group of 60 attorneys across 19 practice areas, Jaspan Schlesinger, LLP, provides representation in many areas, including Section 1031 Like-Kind Exchanges in real estate.

An exchange of properties is required to execute a transaction under Section 1031, which can allow gains to be deferred for tax purposes. The simplest involve swapping one property for a similar one. However, two other exchange structures exist under the code.

Deferred exchanges involve the disposal of a property with the aim of acquiring at least one more as a replacement at a later date. Unlike in cases where a property is sold and the proceeds are used to purchase another, a deferred exchange dictates that the relinquished and replaced properties be parts of an integrated transaction in which they are mutually dependent.

Alternatively, reverse exchanges involve the early acquisition of a replacement property via an exchange accommodation titleholder. The titleholder holds the replacement property for a maximum of 180 days, during which time the property holder must arrange the disposition of the relinquished property.

Jaspan Schlesinger LLP Promotes Two Associates to Partners

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New York law firm Jaspan Schlesinger LLP recently announced the elevation of two associates to partners. Michael V. Girace belongs to the firm’s Banking and Financial Services Practice Group and provides representation to institutional lenders involved in commercial property finance agreements. Prior to joining the firm, he worked on Long Island as a member of a prominent law firm’s commercial lending department and focused on the U.S. Small Business Administration 504 Loan Program.

Natasha Shishov belongs to the Jaspan Schlesinger LLP Litigation, Appellate, Corporate and Commercial Transactions Practice Groups and focuses largely on complex commercial cases that involve shareholder disputes, fiduciary duty breaches, fraud, and contract issues. Over the course of her career, she has gained extensive experience in trial practice, litigation, and appellate advocacy.

Ms. Shishov was recently included on the New York Metro Area Super Lawyers Rising Star list. Additionally, Hofstra University’s Maurice A. Deane School of Law gave her its 2016 Top Women in Law Award. She also co-chairs the Young Lawyers Division of the American Bar Association and serves as the section liaison to the Commercial and Federal Litigation Section of the New York State Bar Association Young Lawyers Section.