Our attorneys' expertise and range of experience are reflected in the case study results below:
$12 Million Award For Breach Of Repurchase Contract
$12 million arbitration award in favor of our client, a secondary/wholesale mortgage loan securitizer. The binding arbitration involved a breach of a commercial contract for the sale of closed mortgage loans to the client by the defendant mortgage banker. Our client sought recovery of $12 million due to the defendant's failure to repurchase numerous closed mortgage loans that breached the warranties and representations provisions of the Seller Agreement on account of early payment defaults and borrower misrepresentations in the loan applications. In addition to recovery of nearly 100 percent of the arbitration claim, the client was also awarded attorneys' fees and costs under its contract.
Punitive Damages Jury Verdict For Client Defrauded in Real Estate Transaction
Attorney Stephen Chuck represented our client, a 401k plan, in a real estate fraud action against the malfeasant defendant with respect to the client’s purchase of an apartment building. The defendant had failed to disclose her lack of authority from the principal to sell the building, resulting in multi-party litigation over title to the property. Mr. Chuck first obtained a very favorable settlement with the principal which allowed our client to retain title to the property, and then tried the case against the malfeasant defendant. Mr. Chuck successfully obtained a jury verdict at trial awarding our client compensatory damages of $300,000.00, inclusive of the attorney’s fees our client incurred as a result of the fraud, and an award of punitive damages of $250,000.00, against the defendant for fraud; thereby fully recovering all of our client’s losses.
Structuring of Preferred Equity Real Estate Investments
We act as legal counsel to a private equity fund in structuring its preferred equity real estate investments in various real estate development projects. Each investment brings a unique, and often complex, set of deal terms. Our client looks to Chuck & Tsoong, LLP to structure the transaction under the deal terms in a manner that best protects the fund’s and its investors’ interests.
Closing of Sale of a 130 Bed Assisted Living Facility
We advised our client in the sale and closing of a 130+ bed assisted living facility, involving complexities with respect to state licensure rights, and the client’s re-investment of the sales proceeds in a 1031 acquisition of a like kind property.
Closing of Complex Real Estate Transaction Involving 130 Parcels
Structuring of a complex, two stage real estate purchase of over 130 contiguous, undeveloped legal parcels. Our client sought our assistance in resolving numerous legal issues involved in the acquisition, including the tax defaulted status of the original seller and the assignment of the purchase rights for the second stage of the transaction.
Standardized Litigation Plan For Mortgage Loan Servicer
We executed a standardized, strategic litigation plan on behalf of their mortgage loan servicing client in order to minimize litigation costs on hundreds of cases throughout the state of California. They were tasked with assuring consistency of results, and resolution of high exposure litigation before adverse outcome and publicity.
Strategic Litigation Plan/Process Implemented For Secondary Mortgage Market Client
Our client, a secondary market mortgage wholesaler, faced significant operating expenses related to ongoing commercial contract litigation. We established cost-effective pre-litigation and litigation protocol as well as worked closely with the client to conduct a cost-benefit analysis for each potential matter. Because of processes put in place, we successfully maximized the client's return and results on litigated cases, while realizing cost savings on legal services rendered.
Punitive Damages Verdict In Contract Fraud Case
Litigation action filed on behalf of his client, a property owner, against a public adjuster retained by the client to assist in negotiating payment from their insurer with respect to a fire insurance loss on a rental property. Our client asserted the defendant breached his public adjuster contract by wrongfully and fraudulently withholding insurance proceeds due to them from the insurer. The jury returned a 12-0 verdict in favor of the property owner on all counts, and awarded punitive damages in an amount over two times the contract damages.
Resolution Of Multi-Tenant Habitability Claim Against Apartment Owner
We guided our clients, a property manager and property owner, to a successful settlement of a high exposure habitability lawsuit brought by a large number of tenants who sought recovery for personal injury and statutory attorney's fees.
Multimillion-Dollar Environmental Remediation Subrogation Case Settlement
We substituted in mid-case as counsel to defend a multimillion-dollar environmental remediation subrogation case brought by the property owner's insurer. The action involved ground contamination by various organic solvents used in a dry cleaning operation. The plaintiff asserted that the defendant negligently failed to remediate the contaminated property by utilizing unproven technology, and failed to meet contractual guarantees that the remediated contamination levels would meet state standards. A vigorous pursuit of the client's causation and contract defenses resulted in the action settling for 1/8th of the plaintiff's claimed damages.
Breach Of Financial Consulting Agreement
We obtained a judgment after court trial in the amount of $341,200 in favor of our client against defendant investment company and its principal for breach of a financial consulting agreement. The result was particularly notable to us and our client, as we successfully pierced the corporate veil and established alter ego liability against the principal of the investment company.
Structuring Of Complex Real Estate Purchase Transaction
We structured a complex real estate purchase of numerous, undeveloped residential lots on behalf of our client. The transaction involved many complexities, including the tax defaulted status of the property and the seller, the validity and preservation of development entitlements, and title insurance issues.
$50 Million Asset-Based Loan Closing
We acted as counsel for a regional depository bank in negotiating and closing a $50 million collateralized, revolving to term loan. The loan was particularly complex as the terms involved investment grade collateral that could be sold by the borrower during the revolving period.
Wholesale Jeweler Consignment Contracts
We were retained by our client, a wholesale jeweler, to analyze the efficacy of its consignment contracts, revise the contracts, and establish best practices and protocols to assure title and lien rights in the consigned goods.
Closing of Private, Asset Based Loan Agreements
We documented a series of private finance loans between a wholesale jeweler and retail jeweler, securing our client’s loans to the borrower with both personal and real property security instruments.
International Distribution And Trademark Licensing Agreement
Our client, a manufacturer and distributor of specialized sporting goods, retained us to prepare a manufacturing, licensing and distribution agreement with a European distributor of the subject product. The transaction was particularly complex as it involved cross-licensing of the parties' respective trademarks, and cross-distribution agreements for the United States and European territories.
Veterinary Clinic/Hospital Startup
Our client, a veterinary clinic/hospital startup, engaged our services to form the business entity and negotiate the terms of its lease. We worked closely with our client's real estate broker to assure that the lease terms contained build-out provisions necessary for protection of our client during the city's conditional use permit application process, and to allow sale of the practice during the lease term.
Trial Defense For Loan Servicer And Lender In Wrongful Foreclosure Action
We successfully defended a loan servicer and its lender at trial in a wrongful foreclosure lawsuit. The borrower asserted that the reinstatement and payoff statements were incorrect with respect to reconciliation of an escrow account for unpaid property taxes and unpaid insurance. The judgment confirmed our clients' right to foreclose, and confirmed title vesting in the lender following foreclosure.
Quiet Title Trial Judgment For Lender
Our client, a mortgage lender, retained our firm to initiate an action to quiet title to its deed of trust, and to validate its foreclosure sale, after discovering that the borrowers had forged a reconveyance of the client's deed of trust. The borrowers cross-complained for wrongful foreclosure. We obtained a trial judgment in favor of our client, establishing the validity of the client's deed of trust and resulting foreclosure sale.