TL Management’s Acquisition of Field Home-Holy Comforter and Catharine Field Home

Cadwalader represented Field Home-Holy Comforter and Catharine Field Home in the sale of their skilled nursing and assisted living facilities, respectively, located in Cortland Manor, New York, to national senior housing operator TL Management.

Although the sales agreements were executed in December of 2015, the closings were conditioned on New York State Department of Health and Supreme Court approval on notice to the Attorney General. After almost two years of review and many months of negotiation, the Attorney General refused to endorse the sales. With the buyer’s commitment nearing expiration, Cadwalader litigators proceeded by Order to Show Cause to obtain an expedited hearing in Westchester County Supreme Court on petitions for judicial approval. Over the opposition of the Attorney General, the Cadwalader team was able to secure the orders approving the sales in a rare, contested proceeding, with the judge signing the Orders within an hour after the hearing concluded on February 23, 2018, noting “Decision to Follow” on each order. Closing of the transactions took place on April 12, and Justice Mary H. Smith issued the Court’s Decision on May 21, 2018.

Cadwalader advised with a team including Corporate partner Stephanie Marcantonio (Picture), Michael DiFiore, Marsena Farris. The Litigation team was led by senior counsel Kathy Chin, Jared Facher and Hyungjoo Han and input from Corporate partner Paul Mourning.

Involved fees earner: Stephanie Marcantonio – Cadwalader Wickersham & Taft; Michael DiFiore – Cadwalader Wickersham & Taft; Marsena Farris – Cadwalader Wickersham & Taft; Paul Mourning – Cadwalader Wickersham & Taft; Kathy Hirata Chin – Cadwalader Wickersham & Taft; Jared Facher – Cadwalader Wickersham & Taft; Hyungjoo Han – Cadwalader Wickersham & Taft;

Law Firms: Cadwalader Wickersham & Taft;

Clients: Field Home-Holy Comforter ;

Author: Ambrogio Visconti