Marshall Socarras Grant, P.L. Featured in Wall Street Journal’s, Dow Jones DBR Small Cap NewsletterOctober 1, 2013
Marshall Socarras Grant, P.L. was recently featured in this week’s Wall Street Journal’s, Dow Jones DBR Small Cap Newsletter, Mover of the Week column.
Mover Of The Week
Boutique Florida Law Firms Find Harmony With Merger
By Stephanie Gleason
Earlier this year, Adam Marshall and Joe Grant decided it was time to expand the boutique law firm they’d created two years ago. But as the search began, the men realized it was going to be hard to find just the right fit for their practice. That’s because Messrs. Marshall and Grant didn’t just create a boutique law firm; they changed the pay model. The lawyers pooled everything, eliminating things like origination bonuses and complicated payment structures. “We wanted to get away from keeping score,” Mr. Marshall said, and “get back to a business model we were comfortable with.”
The structure ensures that the best person for the case is the always the one working on it, Mr. Marshall added, which ultimately benefits clients and the practice. “Because of our business model, it’s hard to find like-minded people,” he said. That was until they found Ruben Socarras and his law firm. The combination became official on July 1, and the seven-person boutique Boca Raton, Fla., law firm of Marshall Socarras Grant P.L. was born.
Mr. Socarras is an experienced litigator with specializations in complex business litigation, civil litigation and employment law. Although much of his work was in areas other than Chapter 11 reorganizations, he represented secured creditor Independence Bank in the Chapter 11 case of Tramcon Inc., a Virgin Islands tourist attraction. The expertise complements that of Mr. Marshall, who specializes in financial restructurings, they both said. Mr. Marshall represented creditors in the Pacific Gas & Electric’s Chapter 11 case and also worked on the Tramcon case, but he usually tends to focus on debtors, he said. Mr. Grant also specializes in bankruptcy and restructurings, having represent- ed high-net-worth individuals in Chapter 11. He and Mr. Marshall helped Harris Food Group Inc. restructure and raise capital.
It’s only been a few months since the groups merged, but the new law firm already has a high-profile representation under its belt—the mansion formerly owned by Gianni Versace. The Miami Beach property filed for Chapter 11 bankruptcy in July, facing fore- closure by mortgage holder VM South Beach LLC. That entity, owned in part by the family that founded the Jordache jeans brand, ultimately ended up pur- chasing the property for $41.5 million, beating back a bid from Donald Trump. The law firm was able to take “a historically contentious relationship,” between the lender and the mansion owner, Mr. Marshall said, and craft a deal that allowed the company to be auctioned, resulting in a successful purchase.
-Jacqueline Palank contributed to this article.
The complete article can be viewed here: Dow Jones DBR Small Cap