May 22, 2017

Pierre Yanney quoted in “Supreme Court limits venue shopping in patent litigation, ruling may end East Texas supremacy”

SOUTHEAST TEXAS RECORD | Pierre R. Yanney, a partner in Stroock’s Intellectual Property Practice Group, was quoted in a Southeast Texas Record article that discusses the May 22, 2017 U.S. Supreme Court decision in favor of TC Heartland, an Indiana-based company that argued Kraft Foods should not have been allowed to file suit in Delaware.


Join Jeffrey Uffner at NYSSCPA's event, All About REITs In The Private Funds World

  • Jeffrey D. Uffner
  • 9:00 a.m. - 10:00 a.m. EDT
  • Marcum LLP
    750 Third Avenue
    New York NY, 10017

Stroock Partner, Jeffrey Uffner, will be speaking at an NYSSCPA event, All About REITs in the Private Funds World, by the Taxation of Financial Instruments and Transactions Committee on Thursday, June 8, 2017. Mr. Uffner will provide an overview of REITs, REITs as blockers, and PATH Act amendments.

  • June 8, 2017 - All About REITs In The Private Funds World
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  • June 14, 2017 - Structuring Redemptions of Partnership and LLC Interests: Navigating Issues Unique to Liquidating Distributions
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  • June 28, 2017 - PLI's Doing Business in and with Emerging Markets 2017
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    "Foresight Energy Refinancing Results in Big Win for Stroock's Clients"

    Due to a combination of factors, including a winning litigation strategy and execution thereon, noteholders represented by Stroock and Houlihan Lokey in the Foresight Energy situation, whose notes traded as low as 70% of par, recently benefited from a redemption at par plus a make-whole premium. Noteholders also received and still hold warrants that could have significant value.

    All in, the Foresight matter was a huge victory for the noteholders and a case study in how pushing back on an issuer’s overreach can pay large dividends. This Stroock Special Bulletin details how that victory was achieved.


    Good News for Developers: New York Adopts the 421-a "Affordable Housing NY Program"

    More than a year after New York State’s 421-a tax exemption program expired on January 16, 2016, the state legislature has adopted a 421-a replacement law, known as the “Affordable Housing NY Program.” The law, which passed following extensive back and forth in the legislature on issues such as an expansion of the maximum number of units for a condominium project, is almost unchanged from the version introduced by Governor Cuomo earlier this year.

    The most notable change is that the New York City Comptroller, rather than HPD, will be the agency charged with overseeing newly added wage mandates that apply to certain projects with 300 or more units in qualifying areas. The new law resurrects the provisions of the Rent Act of 2015 that require every project receiving the 421-a tax exemption to meet certain on-site affordable housing requirements, which vary depending on the specifics of the project.

    Now that the law is on the books, the next step will be structuring new deals.

    Existing tools, such as inclusionary housing requirements and the requirements for structuring condominiums, will be paramount for making deals work. Careful attention must be paid to meeting the affordability requirements, and how to layer additional subsidies and requirements into a deal.

    Stroock stands ready to advise developers on these requirements and on how best to structure deals to take advantage of the Affordable Housing NY Program.


    Stroock Reports – Public Employee Law

    Welcome to the Spring 2017 issue of Stroock Reports – Public Employee Law. Our cover story –"With America's Attention on Supreme Court Nominations, Congress Pushes Federal 'Right-to-Work' Bill" – provides an analysis of recent attacks on agency fees and developments in the federal and state legal landscapes that are threatening or protecting such fees.

    This issue also reports on the developing Supreme Court jurisprudence regarding free speech in the public employment sector, and addresses the implications of attempts to amend the New York State Constitution with so-called ethics reforms, the status of the soon to be implemented Paid Family Leave law, the NLRB's recognition of the right of teaching assistants in private universities to organize, and whether the City of Miami can unilaterally reduce the wages, pension benefits and other economic terms of employment of police union members because of a declared "financial urgency."

    We are pleased to provide this issue to our public sector union clients, government relations clients and other friends of the firm.

    Let us know if you find the material informative.


    Alan M. Klinger, co-managing partner

    Dina Kolker, special counsel