In a recent and highly significant victory for its client–a company that owns the artwork created by iconic artist Peter Max – Schlam Stone & Dolan partner Jeffrey M. Eilender, affiliated counsel Rebecca Smithwick, and associate Alexandra Douglas got an emergency preliminary injunction preventing a majority of their client's shareholders from holding a shareholder vote as part of what the court held was likely an "illegal" voting agreement. Describing this win as a "decision of apparent first impression," the highly regarded New York Business Divorce blog analyzes the decision and the law behind it in this excellent, must-read article.
On July 23, 2021, Schlam Stone & Dolan partner Jeffrey M. Eilender and counsel Joshua Wurtzel secured a significant victory for their client in federal court in Arizona, winning almost $100,000 in attorneys’ fees following a successful summary-judgment motion. In Arizona, courts have the discretion to shift fees in contract cases. And over the defendants’ objections, the court did just that, agreeing with Eilender and Wurtzel that it was appropriate to award their client attorneys’ fees, and rejecting the overwhelming majority of defendants’ challenges to a fee award.
Our previous article on this topic outlined the challenging issue of LIBOR transition—that is, moving from LIBOR to another benchmark rate—for asset-backed securities such as residential mortgage-backed securities (RMBS), and particularly, the complication created by there being two levels of transition: LIBOR-indexed mortgage notes that are assets of an RMBS securitization trust, and LIBOR-indexed interest rates paid on the securities issued by the securitization trust.
On June 8, 2021, Schlam Stone & Dolan LLP partner Jeffrey M. Eilender and counsel Joshua Wurtzel secured a major victory in Arizona federal court to enforce a term sheet requiring defendants to pay $2.5 million. Following a long-running dispute that involved Schlam Stone previously securing a criminal and civil contempt order and an arrest warrant against a related adversary, in January 2020, the parties held a mediation and signed a binding term sheet to resolve their outstanding disputes. The term sheet required the defendants to pay $2.5 million to Schlam Stone’s client, but the defendants refused to pay, and Schlam Stone brought suit to enforce the term sheet. Following cross summary-judgment motions, the Arizona federal court accepted Schlam Stone’s arguments that the term sheet was binding and enforceable against all of its signatories, and granted summary judgment to Schlam Stone’s client. This was a major victory for Schlam Stone and its client, and marks the close of a long-running and hard-fought legal battle in three states and two countries.
On behalf of former recording industry executive Charlie Walk, Schlam Stone & Dolan LLP on March 25 filed a $60 million legal malpractice action against Walk’s former attorney Mark Kasowitz, contending that rather than challenging Walk’s unjustified ouster by his former employer, UMG Recordings, Inc., Kasowitz counseled Walk to accept a settlement that deprived him of tens of millions of dollars due him and of his ability to defend his reputation. Schlam Stone & Dolan attorneys Jeffrey Eilender, Erik Groothuis and Michael Brodlieb, along with co-counsel Bryan Freedman, are handling the case.
On February 5, 2021, partner Jeffrey M. Eilender and counsel Joshua Wurtzel scored a significant victory for their real-estate partnership client by defeating a German investment company’s motion for summary judgment in lieu of complaint on a $136 million claim. In its motion, the plaintiff argued that it was entitled to reimbursement from the partnership for repaying a partnership debt for which it claimed it was a guarantor, and cast the case as open and shut. But arguing before the court last Friday, Wurtzel persuaded the Honorable Barry R. Ostrager of the New York County Commercial Division that issues of fact existed, including concerning whether the plaintiff had standing and capacity to sue on this claim. This was a major victory for Schlam Stone and its client, and stopped the plaintiff dead in its tracks in its effort to secure accelerated judgment at the outset of the case.
Partners Jeffrey M. Eilender and Douglas E. Grover, and Counsel Seth D. Allen won a decisive victory from the Circuit Court of Florida, Clay County, on behalf of their client, Haarslev Inc., a subsidiary of a worldwide industrial corporation headquartered in Denmark. Following a two-day evidentiary hearing, conducted via Zoom, the Florida court granted Haarslev’s motion to compel arbitration before the International Chamber of Commerce.
U.S. News & World Report has named Schlam Stone & Dolan LLP to their highly regarded list of Best Law Firms.
Jonathan Mazer commented at length to Business Fleet concerning New York law applicable to vehicle fleet operators who want to ensure that drivers are classified as independent contractors rather than employees.
We hope that all are well in these chaotic times.