Lim Ruger Closes $11.7M Financing for Supermarket Chain

Lim Ruger has successfully closed a $11.7 million financing transaction for one of the largest independently owned supermarket chains in Southern California.  The "blend and extend" financing involves the replacement of notes scheduled to mature next year with notes that mature in 2020 and includes $4.5 million in new financing.  The real estate on which the supermarket chain operates its stores is owned by affiliates of the chain.  The notes were issued by the affiliates and purchased by a group of holders, with a major life insurance company acting as collateral agent.  Lim Ruger attorneys John Lim and James Ho represented the supermarket chain and its affiliates.

New Senior Associate

Lim Ruger is excited to announce the addition of Senior Associate, Peter Rho, Transactional Attorney.Mr. Rho has officially joined the firm on March 1, 2010.100408_new_senior[1]

CRE Loan Workout Seminar for Bankers

Lim Ruger is pleased to invite you to a seminar presented by two leading experts in commercial real estate loan workouts and bankruptcy. This very timely, informative seminar will be presented in a workshop format to discuss all the critical components in CRE loan workouts and implications of filing bankruptcy by the borrower due to failed workout efforts or default of the terms of the workout agreement.100408_cre_loan_seminar[1]
"10 Must-Do's in CRE Loan Workouts" Date: April 22, 2010 Time: 5:15 pm Location: Lim Ruger, 1055 W. Seventh St., 28th FloorPresented by: John Lim (Loan Workouts) and Sam Oh (Bankruptcy) MCLE Credit of 1.5 Hours (approval pending)Click here for the Loan Workout Outline.Please note that space is limited to first 40 persons to register. Contact Judy Kim at (213) 955-9500, or RSVP by email to [email protected] with the following information:1. Your full name 2. Company name and affiliation 3. Phone number 4. Email address* Wine & cheese reception to follow **Parking provided

Lim Ruger Wins Environmental Cleanup for Developer

April 8, 2010 - In an action to determine responsibility for soil and groundwater contamination, Lim Ruger has obtained a settlement agreement that is very favorable both for the environment and for Lim Ruger's client, which owns the subject property and is a developer of lifestyle shopping centers. The settlement agreement requires one of the contaminators to spend millions of dollars to remediate the site at the contaminator's sole expense.100408_environment_cleanup[1]
In the same case, Lim Ruger has proceeded to trial against a second contaminator to obtain a money judgment that will fully compensate the property owner for the costs of investigating the scope of contamination and remediation activities.Lim Ruger helped the owner to acquire the contaminated property pursuant to a purchase and sale agreement that provided for the seller to assign its claims against the parties that caused most of the contamination to the new owner. The successful outcome of the litigation against the contaminators has created a win-win situation for Lim Ruger's client and the environment.The Lim Ruger team consisted of litigator Bruce Iwasaki and transactional attorneys John Lim and Marc Manason.
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