Proud platinum sponsors of the 2013 National Association of Settlement Purchasers (“NASP”) conference, Las Vegas Nevada, November 5, 2013 through November 7, 2013.

Real Estate Department: Sacco & Fillas, LLP commends the real estate team for their representation of a corporate purchaser that only through the sheer tenacity and meticulousness of our team on multiple levels could have accomplish a recent complex real estate closing. The purchase price of the subject Manhattan Residential Complex was Nine Million Five Hundred Thousand ($9,500,000.00) Dollars, and the purchaser needed to assume the existing loan of Four Million Five Hundred Thousand ($4,500,000.00) Dollars notwithstanding the fact that the existing loan prohibited any assumption. Moreover, the final hurdle was that the property had to close pursuant to 1031 Exchange guidelines and deadlines. Through the sheer effort and dedication of the real estate team did the deal close with the full finance in place and in satisfaction of the 1031 guidelines to ensure the client did not pay one penny in capital gains for its recent sale of the exchange property for Two Million ($2,000,000.00) Dollars. This is one example of the recent closings handled by our real estate team within the past six (6) months our commercial real estate clients have successfully taken advantage of the record low interest rates to refinance and purchase. A job well done!

LABOR LAW: Pursuant to Section 240 (1) of the Labor Law our motion for summary judgment was granted where the Supreme Court found the property owner and general contractor responsible for the accident that caused the laborer to fall off the plywood utilized by workers to walk from beam to beam without any safeguards. Larry Badash, Esq. successfully drafted and argued the motion. Today, partner Elias N. Fillas, Esq. closed the file at mediation for $750,000.00. Amazing result Counselors!!!

As experts of INSURANCE LAW Sacco & Fillas, LLP obtains recovery for a victim of a fall from a defective stairwell even though the insurance carrier refused to provide coverage to the defendant. The refusal to provide coverage to its insured who is the defendant in our action (“insured/defendant”) on the grounds that the insured/defendant untimely notified the insurance company of the claim. The insured/defendant then defaulted in answering the summons and complaint. The firm successfully obtained a significant judgment against the insured/defendant at an inquest in Supreme Court: Queens County. After obtaining the judgment, our client now had standing to sue the insurance carrier of the defendant for failure to provide coverage to its insured and to pay the judgment obtained at the inquest. After the commencement of the declaratory judgment action against the insurance carrier, the parties agreed to an out of court mediation. In the end, our client was well compensated at the mediation. This process is a standard example of legal maneuvering and the tenacity that is in place by the partners, Tonino Sacco and Elias Fillas, who handled this matter, for uncollectable judgments arising from personal injury matters when insurance carriers improperly decline to provide coverage to their insured/defendant.