Melinda Middlebrooks, Esq., Managing Partner of Middlebrooks Shapiro, PC and Immediate Past Chair of the New Jersey State Bar Association Bankruptcy Law Section and Member of the New Jersey State Bar Association Legislative Committee is serving as a Moderator/Speaker for the featured Panel “Renaissance – Redevelopment + Rebirth of Dead Shopping Centers.
Renaissance – Redevelopment + Rebirth of Dead Shopping Centers
Nov. 6 | 8:30 – 9:45 a.m. | Chopin
According to a recent article in the Wall Street Journal, one-fifth of all shopping malls in the United States that are financed through commercial mortgage-backed securities are worth less than their loans. As more than $14 billion of loans backed by failing shopping malls come due in the next 12 months, struggling malls are defaulting on their debt. With mortgage rates up sharply, refinancing that debt will be more challenging and expensive.
As retailers rely more and more on online sales, shopping centers are dying. This leaves huge, abandoned buildings in many cities and towns. What happens next?
Land use attorneys, planners, bankruptcy lawyers and developers will discuss this phenomenon, which was exacerbated by the pandemic. They will discuss the legal issues surrounding the takeover of defunct shopping centers, redevelopment of the land, and provide creative solutions.
Moderator/Speaker:
- Melinda Middlebrooks Esq., Immediate Past Chair, NJSBA Bankruptcy Law Section
Middlebrooks Shapiro, PC, Belmar
Speakers:
- Hon. Rosemary Gambardella
United States Bankruptcy Judge for the District of New Jersey - Thomas J. Cannon III, President
Flag Wharf, Inc. - Maria DeOliveira, Esq.
McCarter & English, LLP, Newark - Kenneth A. Porro, Esq.
Chasan Lamparello Mallon & Capuzzo, PC, Secaucus
Past Chair, NJSBA Local Government Law Section - Colleen M. Restel, Esq.
Lowenstein Sandler, Roseland
