| Articles | The
FALL 2005 • Vol. XLIII
- Bankruptcy – An Overview of
Changes in the Law
- Calendar Calls
- Dates to Remember
- FCSMCC - A Team Approach
- Of Note
FCSMCC - A Team Approach
Major transactions have been undertaken by the
firm on behalf of its client Northrop Grumman Corporation,
bringing together several of the firm’s practice areas.
Most recently, on July 26, 2005, the firm’s team approach
resulted in the successful completion of the Northrop Grumman
Corporation’s first phase of a two-part closing under
a Memorandum of Agreement with the County of Nassau.
The transaction was managed by partner Brian R. Sahn. Jeffrey
D. Forchelli managed land use and zoning issues relative
to the transaction, and partner Aaron Gershonowitzmanaged
environmental matters related to the transaction. Associates
Robert Reiman and Diana Fantano Hoffman also participated
in various aspects of the transaction.
Several versions of an agreement with the County had been
in negotiation for the past four years. As a result, Northrop
Grumman conveyed to the County approximately 29.75 acres
of land under and around an approximate 660,000 square foot
building formerly owned by the U.S. Navy and used by Northrop
Grumman dating back to the 1940s. The building, at one time,
housed the development and assembly teams for the Apollo
moon lander built by Grumman in the 1960s. Several other
parcels of land and other assets were exchanged between
Northrop Grumman and the County as a result of the transaction.
The next phase of the closings will involve the Navy’s
105-acre parcel in Bethpage, for which it is anticipated
that the land will be conveyed to the County.