September 23, 2016

Bruce Gallant quoted in "Can GCs Perform a Compliance Role and Act as Strategic Advisors?"

BLOOMBERG BIG LAW BUSINESS | Bruce D. Gallant, Of Counsel in Stroock's Employee Benefits and Executive Compensation Practice Group, is quoted in a Bloomberg Big Law Business article which discusses a University of Michigan business school professor's paper on the expanding roles of general counsels and their effectiveness in a compliance role.


  • September 22, 2016

    90 Stroock Attorneys Recognized as 2016 Super Lawyers and "Rising Stars"

    PRESS RELEASE | 90 Stroock attorneys have been named to Super Lawyers for 2016. Among those listed are several first-time Super Lawyers, including Partner Jordan M. Rosenbaum and Of Counsel Ronald A. Kriss. First-time "Rising Stars" include Partners Alex Cota and Amanda K. Moore; and Associates Julia F. Casteleiro, Lauren V. DiLeonardo, Amrita K. Nangiana and Margot J. Wainger....Read More

    September 21, 2016

    Stroock Aids Launch of P2P Insurance Company

    PRNEWSWIRE | Stroock advised Lemonade, the world's first peer to peer insurance company, which launched as a licensed homeowners insurance company in New York State. At Lemonade, technology drives everything from speed and ease of use to reducing costs from the entire insurance process. In the overwhelming majority of instances, Lemonade's customers can get insured and settle claims instantly from any device via their mobile app. At the same time, the company has been architected according to principles of behavioral economics, with policyholders' good behavior and good luck resulting in donations of underwriting profits to causes policyholders care about. The holding company is a Delaware public benefit corporation and a certified B-Corp, and Lemonade is remaking insurance as a social good, rather than a necessary evil....Read More

  • September 21, 2016

    Jeff Keitelman featured in "Stroock Names DC Partner as New Co-Leader"

    NEW YORK LAW JOURNAL | Jeff R. Keitelman, Stroock's Co-Managing Partner, Co-Chair of the National Real Estate Practice and Co-Managing Partner of the Washington, DC office, is featured in a New York Law Journal article which discusses his appointment as the new Co-Managing Partner of the Firm. ...Read More

    September 20, 2016

    Stroock Announces Selection of New Co-Managing Partner

    PRESS RELEASE | In a major leadership transition, Stroock & Stroock & Lavan LLP announced that longtime Co-Managing Partner Stuart H. Coleman will be stepping down from that role. Mr. Coleman, a Stroock corporate attorney since 1979 who represents many of the country’s leading mutual funds and investment advisers, has held his management position since 2004. He will continue to serve as the leader of Stroock’s industry-leading Investment Management group and a member of the firm’s Executive Committee. Succeeding Mr. Coleman is Jeffrey R. Keitelman, Co-Chair of Stroock’s National Real Estate Practice and Co-Managing Partner of the firm’s Washington, DC office. Mr. Keitelman joins New York Litigation Practice Co-Chair Alan M. Klinger, who has served as Stroock’s Co-Managing Partner since 2007....Read More

  • September 16, 2016

    Shira Scheindlin mentioned in "Judges Discuss Applications of Amendments to Federal Rules of Civil Procedure"

    LAW TECHNOLOGY NEWS | Shira A. Scheindlin, of counsel in Stroock's Litigation Practice Group, was mentioned in a Law Technology News article on a panel discussion at the 2016 Conference on Preservation Excellence. As part of the panel, Judge Scheindlin discussed 12 key e-discovery cases from the past year. ...Read More

    September 15, 2016

    Quyen Truong quoted in "In Afterglow of Wells Case, U.S. Consumer Agency Faces Fight for its Life"

    REUTERS | Quyen Truong, a partner in Stroock's Financial Services/Class Action Practice Group, was quoted in Reuters' article on the Consumer Financial Protection Bureau’s fight to justify its existence while at the center of a debate about the value and limits of regulation. ...Read More

  • September 15, 2016

    "Stroock Represents JPMorgan in $220 Million Sale of Fort Lauderdale Office Tower"

    LAW360 | Ira K. Teicher, a partner in Stroock's Real Estate Practice Group, was mentioned in a Law360 article which discusses the firm's representation of JPMorgan in the $220 million sale of the Las Olas City Centre, a Fort Lauderdale, Florida office tower. ...Read More

    September 14, 2016

    Michael Keats quoted in "Discrimination Suit Filed Against Alabama Judiciary System"

    THE WASHINGTON INFORMER | Michael C. Keats, a partner in Stroock's Litigation Practice Group, was quoted in The Washington Informer's article which discusses a lawsuit filed by The Lawyers' Committee for Civil Rights Under Law on behalf of the Alabama State Conference of the NAACP and four black voters alleging that the method of electing the state's most powerful judges violates the Voting Rights Act. ...Read More

SEP30

Jerry Goldfeder to Speak at Fordham Law Review's Election Law Forum

Stroock will be co-sponsoring Fordham Law Review's Election Law Forum. The forum will take place September 30, 2016 in New York, NY at Fordham Law School.

Special Counsel Jerry H. Goldfeder will be moderating the forum.

  • September 30, 2016 - Fordham Law Review's Election Law Forum
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  • October 16-19, 2016 - AIRROC 2016 NJ Commutations & Networking Forum
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  • October 25-26, 2016 - Platts' 18th Annual Financing US Power Conference
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  • SEPTEMBER 13, 2016 | LAW360

    "Mitchell-Lama Cooperatives: An Alternative To Privatizing"

    As of Aug. 15, 2016, there are 20 city-supervised Mitchell-Lama cooperatives that are eligible to voluntarily dissolve and become either a market-rate cooperative or a condominium. This article provides information regarding a meaningful alternative to privatization that may be helpful to shareholders of these 20 cooperatives.

    It’s the Article II to Article XI conversion program — a program that is in line with the mission of the Mitchell-Lama law, and which also provides modest equity appreciation to existing shareholders and much needed middle income housing for future generations to come.

  • SEPTEMBER 7, 2016 | NEW YORK LAW JOURNAL

    "Priority of Liens—Evolving Rules For Condominiums and Lenders"

    Cooperative housing corporations have a first lien on the shares and appurtenant proprietary leases for co-op apartments. As a result, in the event of a foreclosure (whether initiated by the co-op to collect maintenance arrears or the holder of a share loan/mortgage on an apartment), the co-op will receive from the proceeds generated by the sale of the apartment the amount owed to it for unpaid maintenance charges before payment of any portion of the outstanding balance of the loan owed to the apartment owner’s lender. However, a condominium association (HOA), unlike a co-op, does not have a first lien for unpaid common charges on condominium units.

    Therefore, when a unit owner defaults on the payment of common charges and the mortgage on the unit, the HOA's lien for common charges is junior to the "first mortgage of record against the premises."

    This column examines the conflicts that often arise in a foreclosure proceeding, as between an HOA seeking to recoup unpaid common charges, and a unit owner’s lender attempting to maximize the amount of and recover its first mortgage of record—all in light of significant recent case law.

  • SEPTEMBER 2, 2016 | STROOCK SPECIAL BULLETIN

    "CashCall – A Court Win To Embolden CFPB Enforcement"

    The Consumer Financial Protection Bureau (“CFPB”) won a major victory on August 31, 2016, when Judge John F. Walter of the U.S. District Court for the Central District of California granted it partial summary judgment against CashCall, Inc., several related companies and their principal, which allegedly offered high-interest, short-term loans through online tribal lender Western Sky Financial to avoid state usury limits. Although the question of tribal immunity had dominated this case at its beginning, the Judge’s opinion resonates on a broad range of other issues – from identification of the “true lender,” to choice-of-law, to defenses to liability based on reliance, to the CFPB’s authority to find unfair, deceptive and abusive acts or practices (“UDAAPs”) based on violations of state laws.

    This opinion is likely to have significant impact by emboldening the CFPB’s enforcement activities and increasing uncertainty for companies seeking to reduce regulatory risk.

  • SEPTEMBER 2016 | HABITAT MAGAZINE

    "The Seesaw World of Condo Foreclosures"

    Cooperatives and condominiums are very different animals. Consider the handling of foreclosures. When a co-op apartment owner fails to pay maintenance, and that owner has a loan secured by her shares, the cooperative is often protected because it has a first lien on the apartment. In practice, very often a lender will pay the maintenance (or at least portions of it) to the cooperative to preserve the asset. If the apartment is sold at a non-judicial foreclosure auction, the cooperative will receive the balance of monies due and, thereafter, the lender will be permitted to receive what is owed on the loan. Condominiums are not so lucky.

    When a condo unit-owner defaults in the payment of common charges, and also defaults in the payment of his mortgage, the condominium can seek to foreclose. But unlike a cooperative, its lien is second to what’s known as the "first mortgage of record against the premises."