Neal Kronley

Real Estate Litigation

• Neal represented an institutional lender to defeat a borrower's attempt to enjoin the sale of the ownership interest in a significant Manhattan commercial property. The win followed fast-paced litigation and lead to the client quickly securing ownership of the property
• Neal represented a commercial lender in a complicated mortgage foreclosure matter involving a property secured by a bankrupt health care facility. The dispute involved multiple litigations in state and bankruptcy courts, addressing regulatory challenges, overseeing a receivership, and extensive negotiations that, ultimately, led to a favorable outcome for the client
• Neal brokered a favorable outcome for a lender client that combined litigation with a practical negotiating strategy to resolve a dispute over a defaulted mortgage loan on a commercial and residential property
• Neal was an integral part of a DLA team that resolved a contentious nine-figure construction arbitration involving fifteen parties and arising out of a Fortune 100 company's development project at its world headquarters
• Neal represented a commercial lender sued by a commercial real estate broker and a commercial lessor over claims the lender unreasonably withheld consent for a lease in a commercial building in Times Square. Neal led the case from discovery through its successful resolution on summary judgment
• In a valuation dispute over commercial real estate in bankruptcy court, Neal and the DLA team presented evidence at trial to support our client's conclusions as to the valuation of its collateral and the appropriate "cram down" interest rate for its restructured notes. The Bankruptcy Court ruled in favor of our client and confirmed the client's bankruptcy plan

Commercial and Business Litigation

• Neal has achieved numerous wins in New York state and federal courts, including the Second Circuit and the New York Court of Appeals, on behalf of clients facing litigation in New York despite having little to no connection to the state. These cases have presented issues of first impression on the court's power to exercise personal jurisdiction over foreign companies, and courts have overwhelmingly decided these questions in favor of our clients
• Neal "second chaired" a trial in the Eastern District of New York that achieved a unanimous jury verdict in favor of the firm's insurance company client in a case involving the application of an "insured versus insured" exclusion in an insurance policy
• Neal has been involved in internal investigations involving firm clients in various sectors and industries, and has worked to respond to Securities and Exchange Commission (SEC) inquiries into various companies, including hedge fund and other financial services companies
• In a novel suit challenging the reach and constitutionality of the statute governing Puerto Rico's restructuring, Neal was part of a team that ensured the statutory stay remained in effect during a crucial stay period designed to allow Puerto Rico to restructure its debts
• Neal defended a policyholder suit against a major insurance company that was affirmed by the Second Circuit Court of Appeals. DLA Piper argued that the policyholder was not entitled to insurance coverage under a directors and officers' liability policy because the claims were "related" to claims made prior to the policy's inception. The US District Court for the Southern District of New York agreed, and the Second Circuit Court of Appeals affirmed
• Neal also was part of a DLA Piper team that won a case before the Second Circuit Court of Appeals involving the question whether an excess insurer was obligated to provide insurance coverage due to the possibility of a policyholder's exposure to liability despite the fact that the bankrupt underlying insurance companies had not exhausted their limits of liability
• In a suit alleging breaches of fiduciary duty, waste and unjust enrichment by directors of a Fortune 10 company, Neal was part of a DLA Piper team that successfully defended the directors and officers on demand futility grounds before the Supreme Court of New York, New York County