Fishman Haygood prevailed on a securities law issue of first impression before the United States Court of Appeals for the Fifth Circuit.  Citing the Delaware Supreme Court, the Fifth Circuit overturned the district court’s ruling that Louisiana investors in Delaware hedge funds lacked standing to bring securities fraud claims against their former investment advisers under Louisiana law because Delaware law would require the investors to join the fund in a derivative action.  …

Fishman Haygood client, Stirling SST Con1, L.L.C. (an affiliate of Stirling Properties, L.L.C.), sold a portfolio of Walgreens stores to ExchangeRight, a real estate firm in Pasadena, California.  The sale involved the defeasance of a commercial mortgage-backed securitized loan held by U.S. Bank National Association, and the replacement of the mortgage collateral with government-backed securities.  The sale closed on August 14, 2019.

Steven Serio and Carson Haddow were Stirling’s counsel for the transaction.

All of the Who’s Who Legal-Real Estate “Thought Leaders-Global Elite 2019” in the United States, including Fishman Haygood Partner Scott Willis, are Fellows of the American College of Real Estate Lawyers (ACREL). ACREL is national organization comprised of outstanding real estate attorneys. …

Fishman Haygood client, Black Bay Energy Capital, has partnered with Total Operations and Production Services (TOPS). Black Bay is a private equity firm focused on high-growth companies with next-generation products, services and technology solutions in the oilfield services and equipment sector. TOPS is a provider of compression products and services that specializes in gas lift applications in the Permian Basin.…

Sharonda Williams is one of seven influential women who will receive the Outstanding Woman Lawyer Hidden Figure/Impact Award from the National Bar Association, Women Lawyers Division.  This national honor celebrates women lawyers and jurists who advance and embody the ideals of the NBA-WLD.…

A team led by Fishman Haygood partner Alysson Mills has successfully argued Anheuser-Busch violated the Mississippi Beer Industry Fair Dealing Act when it “matched and snatched” a Mississippi beer distributor’s sale to another distributor.

Rex Distributing, a family-owned distributor in Gulfport, Mississippi, alleged Anheuser-Busch and Mitchell Distributing conspired to redirect Rex’s intended sale to Mitchell instead, to punish Rex for having done business with Yuengling, Anheuser-Busch’s competitor.  …

The Community Development Financial Institutions (CDFI) Fund today announced the opening of the calendar year 2019 allocation round of the federal new markets tax credit (NMTC). Applications are due October 28, 2019. The CDFI Fund anticipates announcing 2019 NMTC awards in summer 2020. The CDFI Fund provides resources including an introduction to the NMTC program, the NMTC program application, the Notice of Allocation Availability (NOAA), an Awards Management Information System navigation guide, an application FAQ and an application roadmap presentation here.

The Opportunity Zones (“OZ”) tax incentive allows taxpayers to defer until 2026 taxes on capital gains if those profits are reinvested in opportunity funds–which are equity funds that invest in businesses in opportunity zones.  Read more about Opportunity Zones here.  If you have questions about Opportunity Zones, contact Charles Landry.

Real Estate Developers in Louisiana can receive tax dollars to enhance projects through Economic Development Districts (EDDs).  EDDS are strictly defined geographic areas that are authorized and created by ordinance of the city or parish where they are located.  The vast majority of EDDs generate tax revenues for real estate developments from sales and use taxes and hotel occupancy taxes, though property taxes may also be used.  Read more about EDDs here. If you have questions about Opportunity Zones, contact John Werner or  Charles Landry.

Fishman Haygood and New Orleans CREW (Commercial Real Estate Women), welcomes CREW delegates from across the country for the 2019 CREW Network Leadership Summit.  This multifaceted meeting brings together the top leaders in CREW Network to learn from one another about chapter management, but also to learn from leading experts about the critical leadership skills that give you the business advantage.