Cory Mitchell Gray

Practice Details

• Firm Information
  Position

  Shareholder

  Firm Name

  Greenberg Traurig, LLP
• Representative Cases & Transactions
  Cases

  Experience: Representative Matters: Mr. Gray has been lead counsel in hundreds of commercial disputes, involving breach of contract, fraud, title
  lien priority issues, leasing
  lending disputes, insurance fraud claims, foreclosures,
  l
  use issues on behalf of owners/operators, developers, lenders,
  insurance companies. In the following matters, Mr. Gray: Represented a lender in a matter of first impression involving the priority of lender's mortgage balance over a construction lien. Contractor asserted that lender was not entitled to priority because its loan had been satisfied by proceeds received from the sale of certain loan collateral. Court ruled in favor of client
  held that lender did not ab
  on its rights as lender by exercising collateral assignments
  that lender was entitled to preserve the amount of its priority claim by applying loan payments to non-priority components of the debt before applying loan payments to priority components of debt.
  Represented a developer in preserving its rights to acquire an approved multi-use parcel in Woodbridge, New Jersey by obtaining a temporary restraining order,
  through ensuing negotiations. Ultimately, arranged for financing for developer through a second GT client
  transaction closed successfully.
  Represented a real estate developer in its defense of claims brought in 54 different actions by over 170 contract purchasers of condominium units at a beach destination resort on Maui, Hawaii. After five years of litigation, in which the client successfully defended 9 separate summary judgment motions, the actions were jointly settled through mediation. Although the terms of the settlement are confidential, the defenses of the cases,
  the mediation, resulted in the elimination of the client's potential exposure of over $750 million.
  Represented a real estate developer in its defense of claims brought by 235 purchasers of condominium units in a planned ski resort destination. After nearly 8 years of litigation, including the production of over 1 million documents
  the conducting of over 85 depositions,
  appellate proceedings, the action was settled in an amount equal to less than 2% of client's initial exposure.
  Represented a private mortgage acquisition company in its acquisition of mortgages
  in the foreclosure proceedings
  defense of counterclaims asserted by the defendant-borrowers. The case has been cited as authoritative with respect to a lender's duties to its borrower in at least six jurisdictions, as well as in law reviews, Corpus Juris Secundum, American Jurisprudence,
  the Restatement of Agency.
  Represented a private lender in an action brought by a developer alleging that lender breached a joint venture agreement. Through deposition practice, it was established that the developer had not satisfied one of the seven conditions precedent to enforceability of the joint venture agreement. Accordingly, the action was dismissed in its entirety by the trial court. The trial court's decision was sustained by the U.S. Court of Appeals for the 11th Circuit,
  the trial court's decision has been cited as authoritative in four states, three federal courts, Florida Jurisprudence 2nd, Florida Practice
  American Jurisprudence.
  Represented major supermarket operator in an action brought by a developer which alleged that its lease to the client could not be terminated by the client because the developer was compliant with all contractual conditions. During the pendency of the client's motion for summary judgment, the parties entered into a settlement which terminated the lease
  imposed use restrictions on the developer's property such that a competing supermarket could not be sited on the property for an agreed-upon term. The client thus obtained exclusivity in the geographic region
  it subsequently opened a supermarket less than one mile from the subject site.
  Foreclosed mortgages, on behalf of a private mortgage acquisition company, secured by 38 properties in four states,
  ultimately effectuated a bankruptcy resolution pursuant to which the client acquired or sold all the properties at issue. At the time of the resolution of the foreclosure action, the debt secured by the mortgages was nearly $500 million, making this foreclosure action one of the largest foreclosures ever litigated in New Jersey.
  Represented a private mortgage acquisition company in its acquisition of mortgages encumbering 32 properties located in New Jersey
  Pennsylvania
  , following the acquisition, prosecuted foreclosure actions
  suits on the promissory notes in federal court. Defendants asserted numerous affirmative defenses
  counterclaims sounding in improper accountings
  improper administration of a lockbox by the original lender. At the time of the settlement of the action, the indebtedness secured by the mortgages was approximately $150 million, making this action also one of the largest foreclosures in New Jersey.
  Represented factoring company in recovering damages resulting from two major frauds, perpetrated by different factoring clients but sharing the same methodology, namely, false confirmations by account debtors. Mr. Gray obtained asset freezes of numerous of the defendants, resulting in early settlements,
  his prosecution of the lawsuits in numerous jurisdictions resulted in the client recovering all of its out-of-pocket losses, which were in excess of $5 million.
  Represented clothing importer in an action against two of its former employees who were alleged to have received kickbacks from the client's suppliers in the amount of approximately $2.7 million
  who started a competing company to market goods similar to those manufactured by plaintiff. Mr. Gray obtained an attachment on defendants' homes
  an injunction against the defendants' marketing of the competing product. When discovery, including production of defendants' off-shore bank records, established the merits of plaintiff's claim, a settlement was reached pursuant to which defendants were required to sell their homes
  other assets to fund repayment to the client. From the filing of the lawsuit to execution of the settlement agreement was only seven months.
  Represented client in an action brought against it by a real estate broker seeking a $600,000 brokerage commission together with a declaratory judgment that the client,
  others, were responsible for future brokerage protection with respect to the subject property. Third party discovery disclosed the lack of foundation for the broker's allegations
  the case was favorably settled at the commencement of trial, with, among other things, the client having no ongoing obligation to pay brokerage commissions with respect to the subject property.
  Previous Experience: Barrister, Richard J. Hughes Inn of Court
  Instructor, L
  Use
  Zoning, Rutgers University, Center for Government Services, Edward J. Bloustein School of Planning
  Public Policy
  Writer, The Star-Ledger (Newark, NJ)
• Additional Links
  http://www.gtlaw.com/People/Cory-Mitchell-Gray