Sheppard Mullin Completes Sale of 1,250 Acres of Southern California Coastal Land to Trust For Public Land
Sheppard Mullin represented Amyla Holdings LLC in the sale of approximately 1,250 acres of pristine coastal land to The Trust for Public Land (TPL). The property is located near Malibu, California in Ventura County and includes almost 2.5 miles of frontage along the Pacific Ocean.
The sale was the culmination of a 16-year saga that originated when the principal of Amyla was defrauded by the family trust that owned the property at the time. In 2008, she obtained a $12 million judgment in her favor and recorded a judgment lien against the property. For the next 10 years, she successfully fended off a series of lawsuits that attempted to overturn her judgment and invalidate her judgment lien. Sheppard Mullin then worked with TPL (which had a longstanding desire to acquire the property) and a new owner of the site for two years to structure, document and close a two-step transaction by which Amyla acquired the property and then transferred it to TPL for a discounted purchase price.
The Sheppard Mullin team was led by Jack Rubens and included Keith Gercken, Tamar Rosenberg, Ted Cohen and Rachel Cheong.
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