MVC News

/MVC News

Menicucci Villa Cilmi Adds Criminal Defense With Joseph V. Sorrentino

Veteran criminal defense attorney represents clients in New York and New Jersey state courts, and federal courts across the U.S.

STATEN ISLAND, N.Y. (AUG. 1, 2018) – The law firm of Menicucci Villa Cilmi PLLC (MVC) has welcomed prominent criminal defense attorney Joseph V. Sorrentino as an “Of Counsel” member to its legal team. 

Practicing in federal courts nationwide and the state courts of New York and New JerseyJoseph Sorrentino is a seasoned criminal defense lawyer and former prosecutor with more than three decades of impressive performance,” said Michael M. Menicucci, MVC founder and managing partner. “His contribution to our legal team offers our clients fresh perspective and convenient access to a top criminal defense attorneyfurther underscoring our firm’s long-standing commitment to excellence. It’s great to welcome Joe on board.”

Sorrentinowho attended St. John’s University and St. John’s University Law School with Menicucci, began his legal career in 1984 as an assistant district attorney in the Bronx and left four years later to pursue his passion of criminal defense.

He has since worked the gamut of criminal cases, defending clients accused of illegal acts such as those involving organized crimemajor drug casesfraud; theft; gambling; racketeering; money launderingalleged violations of the Hobbs Act, a federal extortion statute, and purported breaches of U.S. Securities and Exchange Commission laws, to name just a few.

“I’m very pleased to associate myself with Menicucci Villa Cilmi,” Sorrentino said. “MVC’s long-established reputation of integrity, uncompromised due diligence, and success align well with the character and high ethical standards that define my practice.”

A GOOD FIT

Sorrentino’s criminal defense expertise nicely complements Menicucci Villa Cilmi’s years of experience in civil litigation and court proceedings, further addressing the potential needs of clients.

Having served clients for over 30 years, MVC is a New York law firm skilled in the legal details of business; banking and finance, including regulatory-compliance issues; residential and commercial real estate transactions; land use and development; mortgages and foreclosures; all forms of commercial litigation; appeals, and personal injury.

Headquartered on Staten Island, with additional offices in Manhattan and Brooklyn, Menicucci Villa Cilmi PLLC – with Founder and Managing Partner Michael M. Menicucci, Esq., at the helm – is recognized as one of the top law practices of its kind in the NYC metropolitan area. 

The multi-faceted law firm brings considerable knowledge in various legal disciplines to the table when handling litigation, including, but not limited to, matters of: Commercial and residential real estate transactionsbusiness law; banking law; zoning, land use and environmental lawfinance, and many more. 

WIDE-RANGING EXPERTISE

More specifically, from pre-suit evaluation to trial – and throughout the appellate process – MVC offers expertise in a variety of matters, such as: Commercial transactions, leases, and business disputes; real estate litigation, including claims involving commercial or residential transactions, or partition actions; residential and commercial mortgage foreclosures; foreclosure alternatives; mortgage foreclosure defense and loan modifications; construction litigation, such as contract negotiations, finance, management claims, arbitration, mechanic’s liens, contract or tort claims; land use and zoning litigation, including environmental law, civil enforcement of municipal regulations, administrative litigation of violations, environmental claims, site remediation, and zoning issues; commercial and residential landlord-and-tenant disputes, and lease negotiation; prosecuting and defending personal injury claims, and banking litigation.

MVC may be reached at 718-667-9090; Joseph Sorrentino may be emailed directly at jsorrentino@mvclaw.com

Pitfalls in failing to structure your investment property in an LLC

Investment Properties

Brendan T Lantry Associate

Brendan T. Lantry, Esq. BLantry@mvclaw.com

In commencing a new development project, novice investors will often question the need to place title to their investment property in a corporate entity such as a Limited Liability Corporation (LLC), as opposed to owning the property personally. When advised that corporate ownership could avoid personal liability, the question is often asked: “If I have property insurance, won’t that cover all liability?” Here is a brief discussion as to why investors/developers should protect their investment property by placing it in an LLC or other corporate entity:

One major benefit of corporate ownership of investment property is the avoidance of personal liability. From the moment that a deed transfers legal title, the purchaser may be held legally liable for any claim which occurs thereafter with respect to property – even immediately thereafter. A claim, for example,
for negligence or personal injury, can arise at any time – even hours or minutes after property legally changes hand. These claims, if valid, could subject the new property owner to an indeterminate amount of money in damages. Owning the property in a duly formed, proper corporate entity will shield the individual investor/ owner’s assets from liability or seizure resulting from a successful lawsuit, and instead may effectively limit liability to the value of the property, and protect any other separately owned property or assets. Many investors who own several properties will in fact form a new corporate entity for each property they own, so liability on one property cannot extend to other properties, which could occur if the properties were owned by the same entity.

Further, in advance of a purchase of property, an investor should always take steps to ensure that there are no gaps in insurance coverage – in other words, there is no period of time when the seller’s insurance has been terminated, and the investor’s insurance has not yet begun – leaving the property uninsured against loss and liability. Even once insurance is in place, there are typically numerous exclusions in a standard insurance policy, which will not provide coverage for certain events. Some of these exclusions include gross negligence, flood damage, lack of certain kinds of maintenance (e.g., snow removal). In addition, should the subject property be insured, it’s important to note that any recovery in excess of the insurance cap will be the responsibility of the property owner.

For example, an individual seeks monetary damages for a personal injury accident in the amount of $1,500,000.00. If the property owner’s policy covers damages only up to $1,000,000.00, then the property owner will be open to liability for the additional $500,000.00. If the property was owned by a corporate entity – not an individual – then under most circumstances, the entity – and not the individual investor – would be subject to this liability. Thus, it is also important for an investor to make sure that his or her entity is property insured in a sufficient amount to protect the investment property.

If there is more than one investor in a property, using a corporate entity has the additional advantage of using an Operating Agreement, or other corporate governance document, to set the parameters for how the property will be utilized, protected, and sold. For example, if two individuals own a property together, and one wishes to sell, and the other not, the only remedy is expensive litigation by way of a “partition action”. An operating agreement can provide that a property be sold pursuant to a vote of a certain number of ownership interest, avoiding costly litigation. There may also be tax and financial benefits to purchasing or owning an investment property under a corporate entity.

While there are costs to form an LLC or other corporate entity, for the purpose of purchasing real property, the benefits often far outweigh these costs. Simply stated, it’s important not to be penny wise, pound foolish when engaging in investment property ownership. Ownership in a corporate entity, while having minor upfront costs, can help avoid substantial, and expensive, future headaches.

If you have any questions for Brendan Lantry, Esq. or the Menicucci Villa Cilmi PLLC team about setting up a Limited Liability Company for your real estate investments in New York call 718-667-9090 today!

Law Firm Menicucci Villa Cilmi Marks 20th Anniversary of Residential Lending Division’s Operations Director

Expansion of Dina Malliae’s workplace responsibilities were inspired by a proactive response to tougher banking regulations by the Staten Island-based legal practice

STATEN ISLAND, N.Y. – Dina Malliae, operations director of the Residential Lending division at Menicucci Villa Cilmi PLLC (MVC), is celebrating her 20th anniversary with the law firm, much to the delight of its namesake founder.

“Dina has proven her capabilities over a span of two decades, working with our firm’s partners and the lending institutions we represent,” said MVC Managing Partner Michael M. Menicucci. “She has never faltered in her ability to embrace vital and complex responsibilities with eagerness and self-confidence, arguably playing an integral role in the growth of our firm.”

However, Ms. Malliae said she would not have foreseen her latest career milestone 20 years ago.

“I took this position as a mom with two little kids who was buying a home and retained Mike [Menicucci] to be my lawyer,” recalled Ms. Malliae, whose employment at the firm began in December 1997. “I wasn’t looking for a job, but Mike offered me an opportunity to work at the office just a few hours a week – and it seemed like the perfect fit at the time.”

Upon her arrival, Ms. Malliae lacked an understanding of the mortgage industry, but that would dramatically change.

“Over time, Mike taught me the business,” she said. “As I was learning, the department was growing, and together we transformed it from a two-man show into a fully staffed lender-services department, representing most of the top mortgage lenders and brokers.”

As the years went by, industry regulations became stricter, guidelines become more demanding – and MVC evolved with the times.

“We developed and integrated a state-of-the-art IT system, which was fully Dodd-Frank compliant,” Ms.  Malliae said.

The firm’s proactive response to tougher banking regulations inspired an expansion of Ms. Malliae’s responsibilities.

“We had to quickly learn and adhere to these demands from an operational standpoint, which led to a change in my role at the firm,” she said.

Today, as operations director of MVC’s Residential Lending division, some of Ms. Malliae’s work involves regulatory compliance; training of staff with regard to Dodd-Frank and TILA-RESPA Integrated Disclosure (TRID) guidelines; processing and closing loans; preparation of profit and loss (P&L) statements; conferring with the firm’s senior partners; traveling to out-of-state lender sites, and more.

 

 

February 13th, 2018|MVC News|

NYC Law Firm Menicucci Villa Cilmi Adds ‘Triple Threat’ Litigator to Legal Team

Attorney Brendan T. Lantry, an experienced political counsel, criminal prosecutor and civil litigator is based at New York law firm’s Staten Island headquarters

STATEN ISLAND, N.Y.  – The legal team of Menicucci Villa Cilmi PLLC (MVC) is marking the recent addition of accomplished civil litigator, former political counsel and criminal prosecutor Brendan T. Lantry.

“I’m delighted to have Brendan Lantry on board,” said Michael M. Menicucci, the law firm’s founder and managing partner. “His litigation experience, political savvy, and courtroom acuity are a ‘triple threat,’ and support MVC’s mission of providing the expertise and dedication our clients expect of us.”

Lantry, 31, experienced a variety of legal roles prior to joining Menicucci Villa Cilmi as an associate in late 2017, such as: Litigation associate with one of New York City’s premier medical malpractice defense firms; district director to Congressman Daniel (Dan) M. Donovan Jr.; counsel to former New York City Council Minority Leader Vincent M. Ignizio; assistant district attorney in Kings County, and legislative aide to State Sen. Andrew J. Lanza.

In his new position, Lantry is primarily focusing upon civil litigation, including commercial and personal injury litigation, as well as election law matters, commercial agreements and real estate transactions.

“MVC maintains a stellar reputation in the Staten Island litigation, real estate, and commercial-transaction legal communities,” Lantry said. “I’m elated to join this team of fine professionals in providing diligent and efficient legal representation to the Staten Island and Brooklyn communities, and all of metropolitan New York. Thank you to Michael Menicucci and the rest of the MVC team for providing me with this opportunity.”

 

 

February 3rd, 2018|MVC News|