Accomplishments
Commercial Mortgage Bailout (CMBS): negotiated more than $510 million dollar CMBS
Liquidated Damages: Negotiated/Litigated more than $250 million dollars
Area of Protection: Negotiated/Litigated Area of Protection - Impact Analysis of more than 100 hotels/motels
Modifications to Franchise Agreement - Developed and implemented business deal elements for more than 200 hotels/motels
Purchase Sale Agreement - Developed and implemented due dilligence items for more than 500 contracts
Employee Handbook: Documented employment rules, regulations, and procedures for more than 200 hotel/motel owners
Sharma Law Group is actively negotiating modifications to existing loans to recognize the effects of worsening economy, hotel/motel owner’s ability to pay, and enforceability of the loan documents for more than $500 million
In November 2008, Sharma Law Group has been successful in vacating arbitration in the Unites States District Court Maryland. The arbitrator had entered an ex-parte award against a 115 rooms hotel/motel franchisee in Pennsylvania for $80,000.00 fees, and liquidated damages of $286,000.00
In October 2008, Sharma Law Group has filed a case in United States, District Court, Maryland, seeking confirmation of an arbitration award in the amount of $223,000.00 in the Unites States District Court Maryland. The arbitrator had entered an award in favor of franchisees 102 Rooms franchisee and against the Franchisor for removing the “Airport” designation of the Franchisee. Sharma Law Group is seeking modification of the arbitration for loss of real estate and business, and award of attorney’s fees and costs as the “prevailing party” in this litigation
Sharma Law Group was successful in a published opinion dated February 28, 2008, by the United States Court of Appeals for the 4th Circuit in confirming vacation of an arbitration award by the United States District Court for Maryland. The arbitrator had awarded the Franchisor more than $255,000 for the liquidated damages
Sharma Law Group has successfully negotiated modifications to more than 100 franchise agreements for new construction and conversion of existing hotels
Sharma Law Group effectively represented more than 50 existing franchisees to protect against new comers in the “Area of Protection” (“AOP”) recognized by the Franchisors in franchise agreements, fair franchising and incremental impact policies