At Meland Russin & Budwick we know that our clients' issues are often the most important in their lives or careers. We take each client's matter to heart, which drives us to achieve the best possible outcome under the unique circumstances of each matter. The following is a sampling of our current cases and transactions. Represent 1040 Biscayne Associates, LLC, in connection with the acquisition, development, state and federal filings, and end unit closings of a $150 million mixed-use project known as Ten Museum Park Residential Condominium on Biscayne Bay, Miami, Florida. The representation included the modification of an $80 million construction loan. Supra Telecommunications & Systems, Inc. - MRB represented largest CLEC in the Southeastern United States in its Chapter 11 Reorganization during which the firm litigated numerous contentious matters with Bellsouth and successfully reduced Bellsouth's claim from approximately $170 million to approximately $37.5 million and ultimately confirmed a plan. Represent the Developer of Old Spanish Village in its development of a landmark mixed-use project in Coral Gables, Florida. The project will ultimately include a master association with numerous condominiums and homeowner associations and other commercial units. Florida Development Associates- MRB represented the developer of a new $110 million luxury condominium project in South Beach with approximately 189 units. After successfully negotiating a $49 million debtor in possession on loan and subordinating $10 million of the mezzanine lender's claim, we successfully confirmed a Chapter 11 plan of reorganization. Represent Cape Horn Group in connection with the acquisition, financing, condominium document preparation and end unit closingsfor two office building condominium conversions located1680 Michigan Avenue, Miami Beach, Florida and 11900 Biscayne Boulevard, North Miami, Florida. Puig, Inc. - MRB represents the Official Joint Committee of Unsecured Creditors in connection with 26 separate affiliated condominium entities in the business of real estate and condominium conversions. The asserted unsecured claims exceed $100 million and the claims against third parties include fraudulent conveyance, professional malpractice, usury, fraud and breach of fiduciary duty. The firm is responsible for prosecuting all litigation claims and representing the interests of the general unsecured creditors. Represent the developer of IOS Condominium in its acquisition and development of, and condominium document preparation for IOS on the Bay, a condominium.The representation also included negotiation, closing of an acquisition and construction loan and subsequent modifications. Pan American Hospital - MRB represented the successful purchaser of a landmark operating hospital for in excess of $34 million through a Chapter 11 Section 363 sale Represent the Developers of Villages at Dadeland Condominium, Dadeland Capri Condominium, South Bay Plantation Condominium, and Club Caribe Condominium, in the acquisition and condominium conversion and end unit closings of the properties consisting of over 1,140 condominium units in Miami-Dade, Broward and Collier Counties, Florida. Vision Development Group, LLC - MRB represents the developer of a large condominium conversion project and its principal member. The claims against the debtor include the senior secured lender, Corus Bank, which is owed in excess of $9 million, as well as mezzanine lenders claiming in excess of $10 million. Represent the Developers of The Madison Downtown in the conversion from apartment use to condominium use of a 355-unit project in Downtown, Miami, Florida. Vision Development Group, LLC - MRB represents the developer of a large condominium conversion project and its principal member. The claims against the debtor include the senior secured lender, Corus Bank, which is owed in excess of $9 million, as well as mezzanine lenders claiming in excess of $10 million. Represent Angler's Resort, LLC, in connection with the preparation of hotel condominium documents, the construction financing for the project, and the subsequent cancellation of purchase agreements and negotiation with existing lenders to convert the loan from a condominium development loan to an operating hotel loan. Certified Services, Inc. - MRB represents O2HR, a PEO, in the purchase of assets from the debtor, which involved the settlement of significant litigation claims. Represented Leviev Boymelgreen Developers in connection with its acquisition, development, state and federal filings for numerous land acquisitions and the proposed Soleil Condominium, a large mixed-use project to include 288 residential and 11 commercial condominium units, and the Vitri Condominium, a mixed-use project to include 66 residential and 19 commercial condominium units. Condominium Developer Workouts - during the current downturn on the real estate and condominium market, the firm has been involved in numerous workouts on behalf of developers with senior secured and mezzanine lenders, including, Corus Bank, Fremont, Key Bank and Ritchie Capital. Represented AWAS Aviation Services, Inc. in connection with its lease of its new headquarter space at 801 Brickell Avenue, Miami, Florida. New Florida Properties, Inc. (Blue and Green Diamond) - MRB represented the equity holder and its affiliates in connection with claims against the senior secured participating lenders, including, Union Planters and Ocean Bank. MRB raised claims against the lenders for equitable subordination and lender liability resulting in bank groups waiving over $6 million of its claim. Represented the Bankruptcy Estate of Florida Development Associates, Ltd. in acting as settlement/closing agent for all units at the Bentley Bay Condominium located in Miami Beach, Florida. Falcon Air - MRB represented the Official Committee of Unsecured Creditors in an operating airline Chapter 11 case resulting in a successful sale of the airline and creation of a liquidating trust for the benefit of the unsecured creditors. Represent BNY Mellon Bank, Metro Bank and other lenders in numerous commercial loan transactions. Thomas Abrams - MRB represented the Chapter 7 Trustee and Michael Budwick served as the receiver appointed by the United States District Court in a $19 million “ponzi scheme” case. MRB brought a variety of litigation claims and reached a multi-million dollar settlement with Fidelity Federal Bank & Trust, N.A. New World Network International Ltd. - MRB represented a group of minority shareholders in a Chapter 15 bankruptcy pending in the Southern District of New York and litigated whether a foreign proceeding in Bermuda should be recognized as a main proceeding as well as other venue issues.
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