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Tribune Tower Purchase Closes for $20.5 Million in Contested Receivership Sale

On December 13, 2016, Lubin Olson & Niewiadomski's client Harvest Properties closed on the purchase of the historic Oakland Tribune Tower for $20.5 million, out of a contested receivership pending in Alameda County Superior Court.  The Tribune Tower became subject to the receivership when plaintiff Alan Young filed a derivative action against Thomas Henderson and his multiple CallSocket entities.  The Tribune Tower was a property subject to the lawsuit.

Lubin Olson represented Harvest in satisfying its due diligence for the purchase of the Tribune Tower, in obtaining approval of the contested sale in Alameda County Superior Court and then defeating all efforts by Henderson and related friendly entities to stop the sale.  Henderson sought a TRO/injunction, filed a quiet title action, sought a writ of mandate and put the owner entity into a Chapter 11, all in an attempt to stop the sale to Harvest.  Lubin Olson worked with and planned the strategy with receivers’ counsel and assisted Young’s counsel in defeating the multiple attempts to enjoin the sale.  Lubin Olson also joined in the concerted efforts to obtain the dismissal of the Chapter 11 case, which Judge Roger Efremsky of the Northern District Bankruptcy Court granted, allowing escrow to close on December 13, 2016.

Lubin Olson attorneys Cherie Song and Dennis Miller represented Harvest in the matter.