HomeMy WebLinkAboutR-92-0532J-92-550
7/22/92
RESOLUTION NO. 9 2' 532
A RESOLUTION RATIFYING AND APPROVING THE
ENGAGEMENT OF THE LAW FIRM OF FINE, JACOBSON,
SCHWARTZ, NASH, BLOCK AND ENGLAND ("FINE
JACOBSON") TO SERVE AS COUNSEL BEFORE THE
UNITED STATES BANKRUPTCY COURT SOUTHERN
DISTRICT OF FLORIDA, IN CONNECTION WITH THE
CHAPTER 11 PROCEEDINGS FILED BY MIAMI CENTER
ASSOCIATES, LTD., ("MCA") WITH FEES FOR SAID
SERVICES IN AN AMOUNT NOT TO EXCEED
$12,000.00; ALLOCATING FUNDS THEREFOR FROM
THE CITY OF MIAMI'S SELF-INSURANCE AND
INSURANCE TRUST FUND.
WHEREAS, MCA, the hotel developer of the Hyatt Regency Hotel
at the James L. Knight International Center ("Miami Convention
Center") filed proceedings under Chapter 11 of the United States
Bankruptcy Act; and
WHEREAS, the City Attorney authorized employment of, and
payments not to exceed $4,500 to, the law firm of Fine Jacobson _
to serve as legal consultant in the case of re: Miami Center
Associates, Ltd., Case No.: 91-15467-BKC-AJC; and
WHEREAS, contingencies have occurred which necessitate
increasing the compensation to be paid to said firm, namely,
Aetna Life Insurance Company has filed adversary bankruptcy court
proceedings against the City of Miami and MCA (Adversary
CITY COMMISSION
MEETING OF
5EP 1 0 1992
Resolution No.
92- 532
Proceeding No. 92--0350-BEC-AJC-A) which require additional
litigation, discovery and negotiations; and
WHEREAS, although the law firm of Fine Jacobson has reached
I`
the maximum levels of its authorized compensation of $4,500, they
have continued to provide excellent legal services to the City,
pending authorization for additional funds by the City
Commission;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
Section 2. The City Attorney's engagement of the law
firm of Fine Jacobson to serve as counsel before the United
States Bankruptcy Court Southern District in connection with the
Chapter 11 proceedings filed by MCA, is hereby ratified and
approved, with fees for said services in an amount not to exceed
$12,000.00 therefor hereby allocated from the City of Miami's
Self -Insurance and Insurance Trust Fund.
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92- 532
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p.
Section 3. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 10th day of September 1992.
XAVIER AREZ, MAYOR
ATT T
f'
MATTY HIRAI
CITY CLERK
INSURANCE REVIEW:
SUJAN S . CHHAB , CTOR
DEPARTMENT OF
BUDGETARY REVIEW:
r+MAN. SURANO
CITY MANAGER
PREPARED AND APPROVED BY:
i
CARMEN L. LEON
ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
s
C
0
. CITY AT EY
CLL:rma 3064
- 3 -
J..
92- 532
CITY OF MIAMI, FLOAIDA
INTEROFFICE MEMORANDUM
to: Honorable Mayor and Members
of the City Commission
FROM . A. Quinn Jones, III
City Attorney
RECOMMENDATION:
DATE . July 8, 1992 4r92-550
SUBJECT : Resolution Ratifying and
Approving the Engagement of
a Law Firm
REFERENCES: Miami Convention Center
ENCLOSURES: ( 1 )
It is respectfully recommended that the City Commission
adopt the attached resolution ratifying and approving the
engagement of the law firm of Fine, Jacobson, Schwartz, Nash,
Block & England ("Fine Jacobson") to serve as counsel before the
United States Bankruptcy Court Southern District of Florida in
connection with the Chapter 11 proceedings filed by Miami Center
Associates, Ltd., ("MCA"). The fee for this service is estimated
not to exceed $10,000.00 and funds are available from the City of
Miami's Self -Insurance and Insurance Trust Fund.
BACKGROUND:
MCA, the hotel developer of the Hyatt Regency Hotel at the
James L. Knight International Center ("Miami Convention Center"),
on November 4, 1991 filed a Chapter 11 bankruptcy petition. The
City of Miami, including the Department of Off -Street Parking, is
a creditor of MCA, furthermore, the City and MCA have certain
mutual legal obligations because of the Lease and Agreement for
Development pursuant to which the City leased to MCA in 1979
certain Air Space and Easements for a period of 45 years with an
option to extend for another 45 years. In order to protect the
City's rights in the bankruptcy proceedings, the City Attorney
authorized the employment of the law firm of Fine Jacobson with
payments not to exceed $4,500. Aetna Life Insurance Company
("Aetna"), MCA's mortgage holder, has filed adversary bankruptcy
proceedings against the City and MCA and it seeks a declaratory
judgment to determine the validity, priority and extent of
Aetna's lien on the hotel. The Chapter 11 and adversary
bankruptcy proceedings have required litigation, discovery and
extensive negotiations which Fine Jacobson continues to perform
pending authorization for additional funds by the City
Commission.