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.

  • 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

    September 12, 2016

    Stroock Wins Major Voting Rights Case

    PRESS RELEASE | A litigation team led by Stroock & Stroock & Lavan LLP won a major victory September 9th in the U.S. Court of Appeals for the District of Columbia on behalf of the National League of Women Voters and the Alabama, Kansas and Georgia Leagues of Women Voters. The result will allow tens of thousands of voters across three states who faced mass disenfranchisement to vote in the upcoming presidential election.

    The Court of Appeals entered a preliminary injunction against the U.S. Election Assistance Commission from giving effect to the January 29, 2016 decisions of its Executive Director, Brian Newby, approving requests by Kansas, Alabama and Georgia to add a proof of U.S. citizenship requirement to the National Mail Voter Registration Form (the "federal form").

    The Stroock Pro Bono team was led by partner Michael Keats and included Joel Dodge, Chelsea Goulet and Amelia Schmidt....Read More

  • September 9, 2016

    Lior Ohayon quoted in "5 Marketing Mistakes That Could Foil A PE Fund"

    LAW360 | Lior J. Ohayon, Chair of Stroock's Private Funds Practice Group, was quoted in Law360's article which explored five common mistakes made in private equity fund marketing documents that legal counsel can help clients avoid. ...Read More

    September 8, 2016

    Bruce Gallant, Former Managing Director and Associate General Counsel of JPMorgan Chase, Joins Stroock in New York

    PRESS RELEASE | Bruce D. Gallant, former Managing Director and Associate General Counsel of JPMorgan Chase Bank, N.A, has joined Stroock & Stroock & Lavan LLP as Of Counsel in the firm's New York office, where he will advise clients on employee benefits, executive compensation, ERISA and related matters.

    "The addition of Bruce Gallant, a preeminent regulatory and business counsellor, is further evidence of Stroock's focus on the needs of our financial services clients," stated Stuart H. Coleman, Stroock's co-managing partner....Read More


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.


    "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.


    "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.


    "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."