Adishian Law Group Newsletter (February 2011)

(edited, originally published February, 2011)

Headnotes....

New @ ALG. We are also pleased to announce the following:

• Mhaer J. Alahydoian, Esq., is joining our firm as an Associate this month. Mr. Alahydoian earned his J.D. from Loyola Law School, with an M.B.A. from the Haas School of Business. He is a former executive with Raindance (fmrly NASDAQ: RNDC, acquired by West Corporation in 2006 for $153M), and brings broad-based business operations, M&A and real estate transactional experience. Mhaer is a member of the California Bar.

Class Action Litigation. We are presently representing a putative class of plaintiffs in an action against Greystone Bank and Greystone Service Corporation, Inc. alleging violation of California Civil Code 2924c, Breach of Contract, Unfair Competition (BPC 17200) and other claims. Per its website, Greystone Service Corporation "services ... a multi-billion-dollar portfolio of real estate loans for Fannie Mae, GNMA, private investors, public agencies, and our own portfolios."

If you have a loan (a) originated by Greystone Bank or (2) your loan is serviced by Greystone Servicing Corporation, and you have been charged excessive interest, late fees, attorneys' fees, appraisal fees or reinstatement fees, please contact us at info@adishianlaw.com. Please also visit our real estate blog for more information on mortgage class actions: http://algrealestatelaw.blogspot.com/

We expect to be taking on more class action cases over the coming months and years.

Arbitration and Mediation Services. Chris Adishian is available to serve as an arbitrator or mediator in corporate, business or real estate disputes. Recent arbitrations and mediations include the following:

• Served as one of three arbitrators appointed to decide a client-attorney fee dispute of approximately $60,000
• Served as one of three arbitrators appointed to decide a client-attorney fee dispute of approximately $750,000
• Served as one of three arbitrators appointed to decide a client-attorney fee dispute of approximately $900,000

If you would like to have Chris Adishian serve as a private Mediator or Arbitrator in your dispute, please contact the office at 310.726.0888 to check for availability of dates.

Corporate Law Update

We continue to build our corporate practice of representing top entrepreneurs and serving as general counsel for emerging companies and privately-held corporations across a range of industries from high-tech to low-tech. Ideal clients include start-ups and privately held, growth companies with $10M - $50M in revenue.

Following are some of our recent and active corporate matters. If these look or sound like something you or someone in your network are experiencing, give us a call:

• Ongoing, broad-based, general counsel work for existing clients (litigation defense strategy, contracts, joint venture agreements, licensing, marketing agreements, employment matters, real estate matters, board meetings and general compliance, etc.)
• Representing client with regard to defense of alleged pregnancy discrimination claim (alleged failure to reinstate)
• Threatened breach of licensing agreement
• Advising non-profit entity re: termination of executive
• Advising surgeon on contract negotiations involving business and employment issues
• Representing minority shareholder with regard to corporate inspection demands
• Advising potential acquiror in business acquisition
• LLC formations for real estate development, financial consulting and business start-ups

For an updated list of representative projects and transactions, please visit our Corporate Transactions Page.

In addition, we also provide a free corporate resources page, located here ALG, P.C. Corporate Resource Links.

Our flat rate corporate or LLC formation package is a great value for start-ups. If you or your clients have an idea, and are ready to run with it, please contact us at askalg@adishianlaw.com to schedule a free, no obligation consultation.

Executive-Level Wrongful Termination Law Update

Representing talented, highly compensated corporate professionals (e.g. "C-Suite" executives, Company Founders, Investment Bankers, Sales Managers, and Sales Representatives) throughout California continues to be a core piece of our practice. Many of our clients are leading performers in their chosen professions. We represent top corporate talent in high-stakes litigation against some of the largest corporations and law firms in the country. We also regularly advise senior level executives in negotiating their employment agreements.

Following are some of our current and past representative employment matters. If these look or sound like something you or someone in your network are experiencing, give us a call:

• Representing executive level client terminated from employer 6 months after relocating to California
• Representing VP level client, a long term employee alleging wrongful termination in advance of scheduled RIF, in an attempt to avoid paying his six-figure severance
• Advised minority shareholder and employee in negotiating his separation from his company
• Advised client with respect to negotiating separation from long time employer
• Represented a highly compensated sales representative in a large mid-six-figure bonus / commission dispute
• Represented co-founder, minority shareholder of a successful private company with respect to employment and corporate claims against the company and majority shareholder [Contra Costa County, MSC09-01153]
• Represented a female, former sales rep for large wholesaler alleging sexual harassment and gender discrimination, based on a hostile work environment including sexually explicit emails and photos emailed to her by males

Labor Market Review: The EDD reports that nationwide unemployment remained at 9.4%, while California's statewide unemployment was 12.5%, which is still higher than the U.S. average and slightly higher than December 2009! However, the data is highly regionalized. For example, Silicon Valley (San Mateo and Santa Clara), checking in at 8.3% and 10.4% respectively, with even lower unemployment rates in selected cities like Palo Alto 5.6%, Mountain View 7.7%, Cupertino 6.8% all with strong VC presence. On the other hand, Los Angeles county is 12.7%, and Colusa, Sutter, Plumas, Merced and Imperial Counties are all over 20%!

If you have been wrongfully terminated, you must do everything you can do to protect your economic well-being as the job market remains at historically bad levels even for those with excellent education, experience and proven abilities.

For an updated list of representative client matters, please visit Employment Results.

If you have lost your job, regardless of your employment level, you clearly are not alone. We encourage you to visit our Labor Law Blog to learn what steps we recommend that you take if you have been fired or laid off. The tough news is that no quick substantive exit from the recession is apparent, but the good news is that there are definitely steps that you can take to help you get through this difficult economic environment.

We also recommend our own Labor and Employment resources page, located here Employment Law Resources.

If you or someone you know could benefit from our services, or has a fact pattern similar to the above, please contact us at askalg@adishianlaw.com for a free consultation.

Real Estate Law Update

We have a full service real estate practice, representing investors, owner-operators, buyers, sellers and developers in real estate transactions, operations and financings, as well as representing clients involved in real estate disputes in a variety of forums including mediation, arbitration and civil litigation.

Following are some of our recent and active real estate matters. If these look or sound like something you or someone in your network are experiencing, give us a call:

• Class action: Representing putative class against lender and captive servicer that are demanding fees, penalties and interest in apparent violation of California law
• Acquisition of prime commercial land (land alone valued at $1,500,000+) via a complex multi-party transaction, including Sec. 1031 exchange, seller carryback financing and subordination utilizing three escrows
• Commercial unlawful detainer, default judgment, $165,000+
• Commercial unlawful detainer, stipulated judgment, $43,000+
• Commercial unlawful detainer, default judgment for possession granted, monetary judgment pending.
• Commercial lease abandonment (CCP 1951.2 pending Arbitration) $175,000+
• Residential purchase dispute (pending mediation): Seller allegedly failed to disclose special taxes, HOA, etc.
• Residential purchase dispute (pending mediation): Seller allegedly failed to disclose to Buyer that he had substantially built over property line
• Landlord: Drafting 20 year commercial lease
• Landlord: Negotiation and drafting 5 year commercial lease
• Advisory on residential purchase

Residential Real Estate Market Review: The residential income market is rebounding with steady tenant demand in certain areas driven by a variety of factors including (a) widespread foreclosures moving people out of homes and into the rental market; (b) demand for better school districts for those tenants raising families.

We remain in the down part of the real estate cycle, which is the better time to invest for the long term, and there are attractive opportunities in larger apartment complexes (20 units +). These opportunities often make sense for small groups (1-6) of investors with a long term horizon. If you are considering a long term investment in real estate, we strongly encourage you to contact an attorney and your CPA before committing capital.

Commercial Real Estate Market Review: As you can see, landlords have started to move against delinquent tenants with sub-par businesses. The commercial market remains challenging for landlords of office and strip malls. As the future rental streams (associated with weaker commercial tenants whose businesses failed), the commercial real estate bubble (supported by these overly optimistic rental streams) will start to deflate. It remains to be seen how quickly this collapse will happen and whether or not the next wave of entrepreneurs will absorb the commercial vacancies before the banks move to foreclose on commercial landlords. As we stated last summer, "Landlords holding lower quality locations with non-branded, non-chain tenants are suffering prolonged vacancies due to few new business starts and excess supply on the market." However, in the last 3 months, there are some signs of life in the commercial tenancy market. Leases are being signed. We'll know more by mid-year.

For an updated list of representative projects and transactions, please visit our Real Estate Results Page.

We also recommend that you visit our own real estate resources page, located here Real Estate Resources Links.

When you have your next real estate issue, whether it is a L-T issue, Broker-client dispute, pending litigation, mediation, arbitration, a new development, upcoming transaction, need capital or simply want to sell an asset, contact us via askalg@adishianlaw.com for a free, no obligation consultation.

The ALG, P.C. Difference

Our practice grows through relationships and referrals. Our points of differentiation are:

1. Professional Service. We are professionals, striving always to deliver the highest level of client service in a trusted, effective manner;
2. Representing Leaders. Our clients are exceptional individuals, families and companies who are achievers in their chosen fields and value our services;
3. Trusted, Proven Network. We also serve as "network hub", providing our clients with a single point of contact for all of their legal needs relating to the great state of California. In terms of scale, LinkedIn calculates that our 2nd level network is over 85,300 individuals, and that our 3rd level network is over 5,011,900 individuals. Every client has access to, and benefits from, our trusted, proven network of talented professionals and other firm resources.
4. Technology Forward. We are technology-forward, leveraging the latest technology to deliver our legal services in the most efficient manner;
5. Direct Attorney Involvement. We provide direct attorney involvement on every client matter, supplemented as appropriate by staff;
6. Personalized, 24 hour access. We provide highly personalized, responsive service to our clients -- clients have twenty-four hour access to our attorneys and staff;
7. International and Cross-Border Experience. We are international, advising overseas clients on inbound activities and advising California clients on outbound activities in foreign jurisdictions; and
8. Solutions Focused. We generate creative solutions founded on our practical knowledge of what works and what does not work.

In short, we act quickly, and when you need us, we are on the ground with you....wherever you may need us. Simply pick up the phone.

Related Services

• Attorney Referrals. We continue to add quality attorneys to our referral network, so even if your legal needs fall outside within our core practice areas, your first call should still be to ALG. If we cannot help you directly, chances are we have a relationship with a high-quality attorney or law firms in that area of law.
• Real Estate Brokerage: Property Management Services. Adishian Capital offers full service property management for properties in Los Angeles County and San Francisco County.
• Conference room access in Los Angeles and San Francisco
• Professional Introductions
• Company/Individual background checks
• Asset verification/Commercial debt collection

Thank you for your ongoing support, and Go Bears!

Regards,

ADISHIAN LAW GROUP, P.C.
Southern California
Pacific Corporate Towers
222 N. Sepulveda Blvd., Suite 2000
El Segundo, California 90245
P: 310.726.0888
F: 866.350.0888

Northern California
One Market
Spear Tower, Suite 3600
San Francisco, California 94105
P: 415.955.0888
F: 866.350.0888
Web: http://www.AdishianLaw.com
Skype: ALG-PC