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Success Stories

Successful collaboration between Members Hoge Fenton and Bergman Dacey Goldsmith

Sblend Sblendorio of Hoge Fenton, Silicon Valley, USA talks about a bankruptcy referral from fellow MI member, Bergman Dacey Goldsmith of Los Angeles, USA.

"Bergman Dacey Goldsmith’s long-time client is a non-profit lender to housing projects in California. The lender found itself with a borrower who filed bankruptcy in Northern California. A parcel of land in Palm Desert (in Southern California) that has the right to build an apartment complex secured the lender’s loan.

BDG referred its client to Hoge Fenton to represent it before the Bankruptcy Court in Northern California. Sblend Sblendorio and Alex Ramon of HF represented BDG’s client.

The borrower sought to impose a debt re-structuring plan upon the lender and the other creditors. HF opposed the re-structuring until the borrower agreed that BDG’s client would be paid in full within a year of the Bankruptcy Court’s approval of the borrower’s re-structuring plan.

The plan obtained court approval.

The borrower recently located a buyer for the parcel of land. The Bankruptcy Court approved the sale with a closing date of the end of this month.

As a result of the sale, BDG’s client will receive all amounts owed to it, including principal, accrued interest, and all attorneys and costs—over $5.5 million US dollars. Only one other creditor, the county in which the parcel is located, will receive full payment. The remaining creditors will receive a very small percentage of their debts."

Sblend Sblendorio

Hoge Fenton Jones & Appel, Inc.

Gregory M. Bergman

Bergman Dacey Goldsmith, A Professional Law Corporation

Successful collaboration between Members Macdonald Sager Manis LLP and Lindsay Kenney LLP

Jordan Cohen of Macdonald Sager Manis LLP, Toronto, Canada talks about a fruitful, long-standing referral as a result of their relationship with fellow MI member, Lindsay Kenney LLP in Vancouver, Canada.

"Our relationship with Lindsay Kenney (“LK”) goes back a long way. In the early 00’s we had the good fortune to a refer a client to them who went on to acquire 100’s of millions of dollars of BC real estate. Even though we regularly referred work back and forth, LK kept looking for a more substantial way to reciprocate.

In 2012, Kirk Poje from LK’s Langley office had a mortgage lending client who wished to establish itself in Ontario and commence mortgage lending operations in Ontario. They referred them to MSM, and we asked Doron Noah, one of the partners to take carriage of this matter. Doron shepherded them through the licensing and regulatory approval process, and has overseen their mortgage lending [and when necessary mortgage enforcement] work since then.

The book of business has grown dramatically over the last 9 years from high 5-figures/low 6-figures in the early years to mid-to-high 6 figures the last several years (all figures Canadian $’s). Currently the work is about 90% mortgage lending and 10% mortgage enforcement. This one client referral alone has more than justified our MI membership these last 9 years.

There is no single large fee, but a constant stream of smaller pieces of business (but larger amounts on the litigation/enforcement side). So they have been an excellent, recurring client. We are very appreciative of the referrals from LK and we are always on the lookout to refer work back."

Jordan Cohen

Macdonald Sager Manis LLP

Timothy Delaney

Lindsay Kenney LLP

Chilean and Canadian MI law firms Make Aguas Andinas water deal flow

Chilean member firm Prieto advised Aguas Andinas, Chile’s largest sanitation company, in the process of selling 100% of its stake in its subsidiary Empresa de Servicios Sanitarios de Los Lagos S.A. (ESSAL) to Canadian conglomerate Algonquin Power & Utilities Corp. (APUC).

APUC completed a deal in October to acquire a majority stake in ESSAL for US$92.3 million.

ESSAL is big -with approximately 230,000 connections in southern Chile. It operates 48 water production systems, 29 sewage plants and 4,100 kilometres of distribution and sewage networks covering 33 municipalities across three regions!

Prieto reached out to Canadian MI firms Scott Venturo Rudakoff LLP in Calgary and Toronto’s Macdonald Sager Manis LLP to assist with the deal. Both firms provided exceptional support with extremely short notice.

This collaboration of firms across the Mackrell International network shows the trust and commitment of our members to spring into action to support one another at a moment’s notice.

For more info on the deal: https://www.prnewswire.com/news-releases/algonquin-completes-essal-acqui...

Juan Tagle

Prieto Abogados

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