“South Florida may be insulated more than other states because of the population influx since the pandemic began and new vaccines may also soften the economic blow,” said Aleida. She noted that this October, Chapter 11 reorganization filings in South Florida were up 70% compared to the year prior.

“Bankruptcy is a lagging economic indicator,” she said. “The spring closures and downturn will likely not appear as actual new bankruptcy or reorganization filings until the end of 2020 or, more likely, the first quarter of 2021.”

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“This would be one of the final options if they can’t do it directly with their creditors,” said Aleida. “The reason why I don’t think these are imminent is I would expect there is still the opportunity to negotiate directly with creditors, and creditors are being realistic, and I see a lot of out-of-court workouts taking place. Folks are negotiating, and everyone is being for the most part realistic, settling out of court.”

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DuBosar and his team bring significant and diverse commercial litigation experience to the firm. Specialty areas include corporate and partnership litigation; business divorce; business torts – including fraud, negligence, and statutory claims; commercial real estate recovery and workouts; bankruptcy litigation; and intellectual property litigation. The group has also represented law firms in numerous partnership and co-counsel disputes.

The team joining Weiss Serota includes Harrison DuBosar, an attorney who focuses on commercial litigation and appellate work, and several longtime employees of The DuBosar Law Group, P.A.

“Howard and Harrison DuBosar’s wide-ranging skillset takes our litigation division and Boca Raton office, which already has a phenomenal group of attorneys, to another level,” said Boca Raton Office Managing Director Brett Schneider. “We are thrilled to welcome them to the Weiss Serota family and know they will add tremendous value to the firm.”

Before launching The DuBosar Law Group, P.A., Howard DuBosar served as partner at Kluger, Peretz, Kaplan & Berlin, P.A. – leading the Miami law firm’s expansion into Boca Raton, and as managing shareholder of the Boca Raton office of Greenberg Traurig, LLP.

“Weiss Serota has a phenomenal culture and I have been impressed with the growth of the Firm,” said DuBosar. “I’ve known for several years the firm’s attorneys and looking forward to working with lawyers across various practice groups,” he added.

DuBosar earned his Juris Doctor from the University of Miami School of Law and a Bachelor of Science from Florida State University. He has substantial industry and community involvement, including as a board member of the Legal Aid Society of Palm Beach County; the Jewish Federation of South Palm Beach County – where he has held various leadership positions including past president of its Young Adult Division; and as past president of the Hillel Day School of Boca Raton’s Board of Trustees.

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The receiver attempted to recover funds under the Florida Uniform Fraudulent Transfer Act and sought to collect tort damages from JPMorgan. The U.S. District Court in Miami dismissed the complaint under Federal Rule of Civil Procedure 12. It held that the receiver failed to sufficiently show JPMorgan had actual knowledge of the Ponzi scheme, which resulted in the Court of Appeals affirming the ruling of the District Court.

Aleida observed that receivers have their limits. “I cannot overstate the importance of the receivership order and what it says and how it says it. It is another lesson for those seeking to implement receivership or receivers.”

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Additionally, Aleida said “this whole experience is showing those older folks who were less inclined to go online that not only is it feasible, doable and fairly easy, but if they are over 65 and have issues and are really concerned about venturing outside of their homes, shopping online is almost a necessity.”

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WSH’s Litigation Division routinely represents private businesses and individuals in the prosecution and defense of a wide variety of general commercial and business dispute litigation in both individual and class action settings. Our attorneys have experience with Fraud and RICO litigation, securities litigation and fraudulent transfer litigation. Our representation of our clients does not end at the judgment stage; the attorneys in our Bankruptcy and Creditors’ Rights Group are skilled in enforcing and collecting domestic and foreign money judgments. The Group has directed collection efforts throughout the world, including Central and South America.

You can read a copy of the October 9 indictment here.

Author(s): Brooke P. Dolara

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With more than 55 attorneys committed to the finest principles of traditional legal practice, WSH has been consistently recognized as an AV-rated firm, and has been selected for inclusion in US News’ Best Law Firm rankings in several practice areas. We service both public sector and private sector clients, delivering our services in an integrated, team approach. Many of the attorneys in our Local Government Law Division are former city attorneys, assistant city attorneys, and assistant county attorneys, as well as those who work primarily on behalf of private sector entities and individuals in more than 30 different practice areas, including litigation, construction law, bankruptcy law, community association law, and appellate practice.

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The mandatory mediation program was introduced in 2009 to help alleviate the backlog of foreclosure cases piling up in the state. While the program was intentionally created to provide a forum for borrowers and lenders to communicate, participants reported a number of problems with the process that left both banks and owners disgruntled. Since its inception, only 3.6% of eligible cases resulted in revised mortgage agreements. The Office of the State Administrator reports that from March 2010 to March 2011, almost 67% of mediated cases failed to produce any agreement between the lender and borrower.

Although homeowners who are currently scheduled for mediation remain eligible to complete the program, no new mediations will be available for homeowner defendants. Also, the end of state-mandated foreclosure mediation will not require local mediation programs to stop. Some local courts have established programs to address the foreclosure crisis with greater success.

Click here to read a copy of the Order.

Author(s): Brooke P. Dolara

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