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BLANCO TACKABERY MOVING TO DOWNTOWN WINSTON-SALEM

Prominent business law firm Blanco Tackabery will move to downtown Winston-Salem’s SENTINELCOMMMONS in mid-summer of 2021 creating a dynamic boost to the much anticipated redevelopment project. The firm will lease approximately 23,000 SF on the Ground and Second Floors of the complex. SENTINELCOMMONS is the redevelopment of the former Winston-Salem Journal property bounded by Marshall, Fifth and Spruce Streets. The Journal remains a tenant in the complex and has been joined by others including Gemcap Development and Parks Companies. LAMBERT Architecture + Interiors is also a tenant in addition to being the designer for the overall redevelopment project and Blanco Tackabery’s new offices.

George Hollodick, attorney and vice-president of Blanco Tackabery, said “We are very excited about our upcoming move. The move of the firm to downtown will allow for the firm’s growth and enable Blanco Tackabery to continue to play a central role in Winston-Salem’s business community. Over 45 years ago, Don House and David Blanco set out to build a law firm founded on the key principles of trust, exceptional client service and exemplary legal advice. Over the years, our firm has grown, yet we still combine the experience and sophistication of a large firm with a level of personal service that our clients appreciate. This new office space will allow us to expand on that tradition and become even more engaged with our community.” Blanco Tackabery has 26 attorneys including practice groups that cover commercial real estate, civil litigation, estates/trusts, business law, bankruptcy/creditor’s rights, affordable housing and renewable energy development.

Kane Wilkerson, the building manager and project developer for 418 Marshall Street Properties, said, “We are thrilled to have Blanco Tackabery join SENTINELCOMMONS. Having the firm as a prime tenant represents a tipping point for the redevelopment of the property. We have made incremental progress over the past 4 years with interior infrastructure improvements as well as stunning interior spaces for the other tenants here. This will allow us to turn our focus to key renovations on the exterior of the building. We are in final negotiations with additional tenants and will announce more details within the next few months along with plans for the exterior improvements.”

Stuart McCormick, President of LAMBERT Architecture and Interiors, outlined the design for the law firm’s new office space: “Blanco Tackabery’s entrance and reception lobby will occupy the ground floor of the historic 1927 building at 404 N. Marshall Street. The space features the original paneled wainscot and 13-foot-tall arched windows. Three conference rooms convenient for client meetings will be located off the lobby and the majority of the attorney and legal staff offices will be located on the 2nd floor of the building complex. All offices will incorporate glass fronts allowing natural light to permeate the interior.”

SENTINELCOMMONS is unique in its history and layout. Built for the Winston-Salem Journal as their headquarters and printing / distribution operations, The oldest portion was completed in 1927 and won the NC Chapter of the American Institute of Architects “Building of the Year” award that same year. Designed by architect Harold Macklin, the exterior was modeled on Independence Hall in Philadelphia. Despite the c. 1700’s historic styling, the structure was fully modern for the day with a concrete-clad steel frame and a sprinkler system forming a “fireproof” building. The complex had a significant expansion in 1958 in the mid-Century modern style and a final expansion in 1982 that extended all the way to Fifth Street.

Frank L. Blum Construction continues as construction manager for the redevelopment of the complex. Jeff Andrews of Commercial Realty Advisors represented Blanco Tackabery in the transaction. Nick Gonzalez of Linville Team Partners represented the building owners.

Contact:

Mike Reed, Marketing Manager
Email: mgr@blancolaw.com
Blanco Tackabery, Attorneys and Counselors at Law

Legal Feeding Frenzy!

Blanco Tackabery is proud to, once again, participate in the North Carolina Legal Feeding Frenzy, a food and fund drive competition among all North Carolina law firms to assist North Carolina’s Feeding America Food Banks.

According to a COVID-19 Food Bank Impact report released by Feeding the Carolinas, there is a dramatic and immediate need to support our local food banks:

Food Banks had an almost immediate increase in clients served of on average 57%, and is currently at 30-40%, with no signs of letting up anytime soon. The economic downturn has caused many citizens to turn to the Food Banks for help.
Food insecurity since COVID-19 struck has increased from 1 in 7 adults to almost 1 in 5, and 1 in 4 children.

They have also seen food shortages and reduced lead times on providing food to those who need it:

Food banks rely heavily on donated product. Retail store pickups are way down due to lower inventory levels and the challenges of picking up food safely in a pandemic. That also means salvage is down as well. Without donated food, the Food Banks are forced to purchase food.
Food purchases by the Food Banks almost immediately increased from an average of about $82,000 per month to almost $1 million per month – a 12x increase PER Food Bank.

The report indicates that there is a lack of volunteers due to sheltering at home:

Two reliable sources of volunteers – employer-sponsored events and retirees – were disrupted due to shelter-in-place orders and local health concerns. NC and SC deployed National Guard members to food banks to make up for this lack of volunteers, providing a temporary resource to manage the mass distribution of food. This deployment has ended in SC and will come to an end in NC in December.
Food banks have lost at least 50% of their regular volunteer base as a result of the pandemic.

Finally, the report reveals that “on average, 30-40% Partner Agencies shut their doors during the pandemic; in some areas, Food Banks lost three-quarters of their distribution network.”

For the above reasons and more, Blanco Tackabery feels more compelled than ever to do our part in providing the items these food banks need to be effective.

The Legal Feeding Frenzy is a friendly competition for a very worthwhile organization that helps a large number of families in our city and it is a great way for us to share with our community.

Blanco Tackabery Announces New Shareholder

Blanco Tackabery is pleased to announce that James F. Goodwin has been named shareholder at the firm effective January 1, 2021. James focuses his practice on representing clients in the development and operation of affordable housing projects financed with low income housing tax credits. He assists for-profit and non-profit clients in obtaining multifamily project financing from federal and federally assisted sources, including HUD-insured loans and loan modifications, the HOME Investment Partnerships program, and multifamily loan programs administered by USDA-Rural Development and the Federal Home Loan Bank.

He also advises multifamily property managers on a range of topics, including reasonable accommodation and modification requests, assistance animals, and other Fair Housing Act issues. He is dedicated to helping clients keep their properties in compliance with HUD regulations and requirements imposed by state housing finance agencies.

Blanco Tackabery Sponsoring Partners in Hope

Blanco Tackabery is proud to sponsor the 11^th Annual Kentucky Derby Party hosted by Trellis Supportive Care Foundation Leadership Council on Saturday, May 6, at The Atrium Biotech Place.

This annual event serves as a fundraiser to support the mission of Trellis Supportive Care, which shares a passion for community involvement and philanthropy, and a strong drive to positively impact end of life care in our community.

11^th Annual Kentucky Derby Party

Trellis Supportive Care Foundation Leadership Council

The Atrium At Wake Forest Biotech Place

May 6, 2023 | 5-7pm

To learn more and to purchase tickets, visit: https://trellisderbyparty.org/

Chad Archer Recognized by NC Bar for 2020 Pro Bono Work

Blanco Tackabery is pleased to announce that litigator Chad Archer has been spotlighted by the NC Bar for his commitment to Pro Bono work in 2020.

“Archer already maintains a busy caseload as a litigation associate at Blanco Tackabery & Matamoros, P.A. in Winston-Salem,” wrote Caroline Trautman on the NC Bar Blog. “His practice consists of title curative litigation, corporate and commercial disputes, landlord-tenant litigation, and appeals. But during the year 2020, he took his practice to the next level, maintaining a litigation caseload while handling two major pro bono matters.”

Chad Archer joined Blanco Tackabery in 2017. Chad practices in the Civil Litigation group, where he represents clients in a range of litigation matters. Please join us in celebrating Chad for his noteworthy contribution to Pro Bono legal work in 2020 and beyond.

You may read the entirety of the NC Bar Blog article here: https://ncbarblog.com/pro-bono-volunteer-spotlight-chad-archer/

Caroline Munroe to Participate in New CLE for Creative Lawyers on Collaborative Conflict Resolution

The Collaborative Law Process is a streamlined conflict resolution option that saves time, money and stress. It avoids litigation and instead involves a series of five or six round-table meetings between the parties and their collaboratively trained lawyers. During these meetings, the parties discuss the problem and its resolution.

Caroline Munroe, an attorney from our Trusts and Estates practice area, will be presenting in an upcoming CLE event on how to use collaborative conflict resolution techniques in trust, estate and fiduciary disputes, where personal relationships between the parties are particularly important. The CLE is titled Collaborative Conflict Resolution: The New Uniform Act and How to Apply It and is conducted in coordination with the North Carolina Civil Collaborative Law Association.

The North Carolina Civil Collaborative Law Association is a non-proﬁt organization which serves as a resource for information about the ﬁeld of civil collaborative law. Among other things, they seek to educate both the public and attorneys about the process of collaborative law and the many advantages of using it to resolve certain civil disputes in the commercial arena.

If you’d like more information about the event, the agenda is available for download here.

To sign up for the CLE, click here.

Blanco Tackabery Attorneys Named to the 2021 Super Lawyers© of North Carolina

Blanco Tackabery is proud to announce that five of their attorneys have been named to the 2021 edition of Super Lawyers^© and Rising Stars lists in North Carolina. The publication recognizes outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. Approximately 5% of lawyers from across the state are recognized as “Super Lawyers” and fewer than 3% are named as “Rising Stars.”

The following five attorneys have been chosen by their peers in their respective practice areas:

Elliot A. Fus
Business Litigation

James F. Goodwin
Rising Stars: Real Estate: Business

Peter J. Juran
Business Litigation

Ashley S. Rusher
Bankruptcy: Business

Neal E. Tackabery
Estate Planning & Probate

Elliot A. Fus

James F. Goodwin

Peter J. Juran

Ashley S. Rusher

Neal E. Tackabery

Affordable Housing and Community Development Team Provides Holiday Gift Bags for Children and Elderly Tenants

While many families are looking forward to the Holiday season and consider it “the most wonderful time of the year,” others are not necessarily so fortunate. Our Affordable Housing and Community Development team put together 1250 gift bags—800 for the children and 450 for the elderly tenants—in low income developments owned by our clients to spread some extra Holiday cheer.

Each bag had an assortment of items in it, from toys and candy for the kids to personal care items for the adults. We provided gift bags for 17 different developments across the state including Charlotte, Asheville, Jefferson, Winston-Salem, Durham, Kannapolis, Gastonia, Greensboro, Jacksonville, and High Point!

The bags are being delivered this week by members of our own staff. We are so thrilled to have a small part in spreading the Holiday cheer to the tenants served by our clients, and we’re wishing everyone a safe and happy Holiday season.

Blanco Tackabery’s Chris Seamster Receives the Winston Under 40 Leadership Award

Blanco Tackabery is proud to announce that Greater Winston Salem, Inc. Winston Under 40 has recognized one of our own as an outstanding community leader in their annual Leadership Awards.

Chris concentrates his practice in dealing with all aspects of corporate/business law, securities law and intellectual property, including corporate finance (and related securities issues), mergers and acquisitions, joint ventures, corporate formation and restructurings, start-up financing and general corporate governance representation.

We are proud of Chris and his wife Kirsten, who has also received a Winston Under 40 Leadership Award this year.

Melissa McKinney Interviewed On Taking the Bar Exam During a Pandemic

Melissa L. McKinney

In an effort to shine the light on an impressive “league” of new lawyers, The NC Bar Association has recently published an interview series detailing the requirements and restrictions exam takers faced.

The series gave six law school graduates a unique opportunity to share their experiences.

Jessica Junqueira, the NCBA Communications Manager, explains:

In a series of interviews, we talk with six recent law school graduates who became licensed North Carolina attorneys in 2020. As they navigated the unchartered territory of a major exam during a public health crisis, they faced thoughts of the unknown and days filled with questions. What would the exam be like? Would they be able to focus while wearing a mask, and was there a risk that they might contract COVID-19? Would the exam even take place at all?

Blanco Tackabery is proud to announce that our newest Trusts and Estates attorney, Melissa McKinney, was asked to share her own story as part of the interview series.

The article containing all six interviews can be viewed here: https://www.ncbar.org/nc-lawyer/2020-11/a-league-of-their-own-bar-exam/

The New North Carolina Commercial Receivership Act

With the anticipated continuing economic downturn, many creditors will be weighing options for pursuing delinquent borrowers. Creditors seeking to enforce a borrower’s obligations have a limited number of options for protecting their rights under North Carolina state law. One of the more effective but infrequently used options is having a receiver appointed. Recent amendments to North Carolina receivership statutes have increased the desirability of seeking appointment of a receiver and have provided more certainty in how the process works. The Commercial Receivership Act (“Act”) was signed into law on June 25, 2020 and is effective January 1, 2021.

Background

Some background will be helpful to understanding the significance of the new Act. A receiver is a court-appointed agent who is responsible for taking possession of, managing and controlling property, including an operating business. North Carolina statutes and common law permitted a receiver to be appointed in limited circumstances. The statutes provided for the appointment of a receiver and addressed matters such as required bonds, but provided very little guidance with regard to the specific powers of a receiver. The new Act provides significant clarity with regard to a receiver’s powers and also creates new rights which greatly enhance the desirability of seeking the appointment of a receiver.

Where It Applies

The Act applies only to corporations, limited liability companies, partnerships and individual business debtors. In order to be considered an individual business debtor, an individual’s debts must be comprised of less than 50% consumer debt. A receivership can be general or limited. A general receivership is imposed over all or substantially all of the nonexempt property of a debtor. A limited receivership is any receivership that is not a general receivership, and places a receiver in control of less than all of a debtor’s property. A receivership based on a foreclosure or enforcement of a security agreement or judgment is generally a limited receivership.

A receivership is begun by filing a civil action which may seek only the appointment of a receiver or which may be ancillary to a civil action, such as in support of a foreclosure. The Act expanded the grounds for appointment of a receiver. Under the former statutes, a creditor had to demonstrate that its collateral was in danger of being lost or materially injured or impaired. The Act provides for the appointment of a receiver if the debtor is insolvent or simply failing to pay its debts when they become due. In a foreclosure proceeding, a receiver can be appointed if the debtor agreed to such appointment in a signed record. Most deeds of trust provide for the appointment of a receiver, easily satisfying this requirement.

How It Applies

The Act provides clarification with regard to the specific powers of a receiver. A receiver can: 1) take possession, collect, control, manage, conserve and protect receivership property; 2) incur and pay expenses; 3) assert rights, claims and causes of action or defenses related to receivership property; and 4) seek instruction from the court with regard to any matter related to receivership property. In addition, a general receiver can, inter alia: 1) operate a business constituting receivership property; 2) compromise and settle claims involving receivership property; 3) enter into contracts necessary for the management, security, insuring or liquidating receivership property; and 4) file a bankruptcy case related to receivership property. A new feature of the Act is that it permits a receiver to sell receivership property free and clear of liens.

An important addition to the powers of a receiver is the granting of lien creditor status as of the time of appointment. This treats the receiver as a creditor with priority over other creditors with claims that are not secured by liens or security interests.

A significant new feature of the statute is the imposition of an automatic stay (similar to that in bankruptcy) with regard to any action to obtain possession of receivership property or to perfect a lien against such property. This prevents creditors from improving their positions without court approval once a receivership is in effect. In addition, the statute now provides that a single judge can retain jurisdiction to oversee the receivership.

Conclusion

The clarifications provided by the Act represent welcome changes to existing North Carolina law. Many of the new features of the Act are parallel to provisions of the Bankruptcy Code. With the changes, a receivership becomes a more effective tool for creditors seeking to protect their rights without having to attempt to force a borrower into an involuntary bankruptcy.

Blanco Tackabery is prepared to assist you with navigating through the receivership process. If you have questions, contact Jim Vaughan or Ashley Rusher for assistance.

Blanco Tackabery Named to the Best Law Firms in America

Blanco Tackabery is proud to announce that two of their practice groups have been named in the 2021 edition of The Best Law Firms in America^© by U.S. News and World Report. The two practice groups are:

Firms are recognized for professional excellence with consistently impressive ratings from clients and peers. To be eligible for a ranking, a ﬁrm must ﬁrst have a lawyer recognized in The Best Lawyers in America©, which recognizes the top 5% of private practicing lawyers in the United States. Achieving a tiered ranking signals a unique combination of quality law practice and breadth of legal expertise. Ashley S. Rusher and Neal E. Tackabery are the two attorneys who were named to Best Lawyers in these practice group areas.