PMI Moves Closer to Confirmation of Reorganization Plan
October 14, 2020
Under the guidance of its counsel, Shulman Rogers and Michael Lichtenstein, PMI has moved one step closer to confirmation of its reorganization plan.
“Parking Management Inc. has agreed to pay at least $1.45 million and to take other measures to settle a lawsuit filed against it by an affiliate of JBG Smith Properties in response to the District-based parking operator’s Chapter 11 bankruptcy efforts.”( Washington Business Journal)
“Lichtenstein . . . told the court in his settlement motion that the agreement accomplishes several goals as the parking management operator seeks a path forward from Chapter 11. Among them, it saves his client additional costs in defending itself from the lawsuit, limits the potential payout to JBG Smith in the event the latter prevailed in court and allows its employees to focus on their daily jobs rather than fielding discovery requests and attending court hearings and depositions.”