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Schulman Bhattacharya Forces $21.3 Million Buy-Out of Client’s Interests in Nine Washington Area Real Estate Companies

Nov 13

Schulman Bhattacharya secured a $21.3 million buy-out for its New Jersey-based client after a more than three-year effort to invoke and implement complex buy/sell provisions in the operating agreements for nine leading real estate companies in the Washington, D.C. area.  Jeremy Schulman was lead counsel in the engagement, assisted by Koushik Bhattacharya and Jeffrey Gavenman.  The Schulman Bhattacharya team crafted and prosecuted the strategy to secure a third-party buyer for various properties, present the offer to invoke the stipulated buy-sell process, initiate lawsuits to compel compliance by the recalcitrant majority partners, settle the lawsuits on favorable terms, and ultimately negotiate and close the buy-out transactions.  These transactions represent the fourth buy-out dispute and related transaction Schulman Bhattacharya has successfully handled in just the past four months.  The firm is currently spearheading two other active buy-out processes for unrelated clients in the hospitality industry.