2024 Year in Review: A Year of Legal Excellence and Client Advocacy
As we close out 2024, we reflect on a year filled with impactful legal achievements. From complex litigation to innovative bankruptcy solutions, our team delivered outstanding results for our clients, protecting their interests and securing positive outcomes in challenging circumstances. Here's an overview of this year’s highlights:
Litigation Highlights
- Major Counterclaims in Loan Agreement Disputes
We pursued significant counterclaims, including one for $250 million and another for millions of dollars, in cases involving breaches of loan agreements. These actions defended our clients’ rights and challenged lender overreach, preserving vital financial interests. - Corporate Disputes in Renewable Energy
We filed a derivative action involving one of the largest solar farms in the United States, addressing failures to convey shares critical to the project's success and ensuring our clients’ equity interests were protected. - High-Stakes Legal Malpractice and Defamation Cases
- Initiated a $55 million legal malpractice suit against a law firm, holding them accountable for professional lapses.
- Pursued a $30 million defamation claim to protect our client’s reputation and business standing within the competitive real estate industry.
Bankruptcy and Restructuring
Chapter 11 Successes Across Industries
Real Estate Development: Filed multiple Chapter 11 cases for real estate developers, addressing debts ranging from under $1 million to over $75 million. In one case, we confirmed a reorganization plan that fully paid creditors and returned equity to the owner. In another, we delayed adverse creditor actions for nearly a year, forcing an alternative resolution.
Church Refinancing: Represented a church in Chapter 11 with $1 million in debt and an imminent foreclosure sale. We are finalizing refinancing to preserve its $3.8 million property.
Wholesale Business: Guided a wholesale business with over $14 million in debt through Chapter 11, preparing a consensual reorganization plan to restructure liabilities and keep the business operational.
Restaurant: Resolved a Chapter 11 case for a restaurant with $1.2 million in arrears by negotiating a settlement with the landlord, enabling continued operations and dismissing the bankruptcy.
Tax Debt Relief Through Chapter 7
Assisted a client in discharging over $300,000 in tax debts incurred from a 401k scam. By initiating adversary proceedings, we secured a full discharge, providing significant financial relief.
A Year of Strategic Counsel and Positive Outcomes
This year demonstrated our ability to handle high-stakes legal challenges with precision and dedication. From defending clients in litigation to restructuring businesses and preserving assets, our focus remains on delivering results that matter.
Key Legal Trends in 2024
1. Interest Rate Impacts
Higher borrowing costs have spurred creative financing solutions and intensified scrutiny of deal structures. Understanding these dynamics is critical to ensuring compliance and mitigating risk.
2. Zoning and Land Use Challenges
Local governments are adapting to increased demand for mixed-use and affordable housing developments, presenting new regulatory hurdles for developers and investors.
3. ESG Regulations in Real Estate
Environmental, Social, and Governance (ESG) standards have become integral to investment decisions. Navigating green building requirements and sustainability obligations is now essential for long-term success.
4. Emerging Technologies
Proptech advancements, from blockchain-based transactions to AI-powered property management, bring new opportunities but also new legal considerations.
Looking Ahead to 2025
1. Legislative Developments
Anticipated changes in federal and state tax laws could impact real estate transactions and ownership structures. Jacobs PC is closely monitoring these developments to keep our clients informed and prepared.
2. Market Resilience
Despite ongoing economic uncertainty, real estate remains a stable asset class. As institutional investors continue to re-enter the market, opportunities for growth and innovation will follow.
3. Evolving Client Needs
With an increasing focus on diversification and adaptive reuse of properties, we foresee more complex deal negotiations that require strategic legal insight.
