Contact McBride Law PC

Contact McBride Law PC:

Tel: (213) 600-6077
Fax: (213) 600-6005
km@mcbride-law.com

Address:
McBride Law PC
700 South Flower Street
Suite 1000
Los Angeles, CA 90017

RECENT UPDATES

The recent El Monte Gateway bankruptcy is yet another setback for this important San Gabriel Valley project--which is unfortunate for El Monte city and its residents. Located off the 10 Freeway at Santa Anita Avenue, the El Monte Gateway mixed-use project is centered around the bus and transit station. Read more… →

SOFTBANK RESTRUCTURING FRAUD: A CLEAR AND PRESENT DANGER

Softbank restructuring fraud is a destructive--but real--twist on business restructuring models. Most corporate restructuring occurs through new opportunities and effective marketplace execution--and sometimes through a Chapter 11 bankruptcy filing. But Softbank, the well-known "software company," "venture capital fund," hedge fund, keeps finding new ways to restructure its business through fraudulent market manipulation. Read more… →

HEALTH CARE SHARING TAX DEDUCTION

The Internal Revenue Service is set to recognize a health care sharing tax deduction for the first time. The Service should be issuing its final regulation on the health care sharing tax deduction in the coming months--likely before the 2020 election. Read more… →

ROCKPORT DEVELOPMENT BANKRUPTCY: REAL ESTATE LIQUIDATION

Rockport Development filed for bankruptcy in May, 2020 under Chapter 11 in Santa Ana. The company develops, builds and/or “flips” high end single-family and multi-family residential homes in Southern California. The company is owned by Kevin Zhang. Allegations of impropriety surfaced against Mr. Zhang in connection with several of his real estate projects, which led to the Chapter 11 filing. Read more… →

HYTERA COMMUNICATIONS BANKRUPTCY: IP THEFT

Hytera Communications America filed for bankruptcy under Chapter 11 in May, 2020 in Santa Ana. Hytera manufactures and sells digital two-way radios and trunking systems used by first responders and others. The Hytera Communications bankruptcy appears to be a tactical maneuver to avoid paying an enormous civil judgment for IP theft: $345.8 million in compensatory damages and $418.8 million in punitive damages ($764.6 million total). Read more… →

GLOBAL EAGLE ENTERTAINMENT BANKRUPTCY: HEDGE FUND DRIVEN

Global Eagle Entertainment (NASDAQ: ENT) filed bankruptcy under Chapter 11 on July 22, 2020. Global Eagle Entertainment is a Los Angeles based company, but is incorporated in Delaware. Global Eagle Entertainment provides in-flight internet connectivity and entertainment to the airline industry. This bankruptcy filing is a perfect example of a now-established trend: using Chapter 11 to recapitalize a company's balance sheet and expedite an asset sale to hedge funds or private equity firms. Read more… →