NEW YORK–(BUSINESS WIRE)–Quotas in immigration are no new thing. Work Visas typically fill their quota every year around June or July leaving all immigrants looking to work in the United States having to wait until January of the next year to file for status. But for the first time in its 24 year history, the EB-5 program has hit its annual quota of 10,000 visas per year. This comes on the heels of Canada shutting down its program after a large backlog. The backlog in Canada and the meeting of the quota in the United States for the first time are largely attributed to the influx of wealthy Chinese investors. EB-5 immigration status awards visas to immigrants who invest $500,000 to $1 million in a U.S. business. Applicants who can prove that their investment has created at least 10 jobs get permanent green cards. The program’s popularity has exploded in recent years — the number of applicants vying for the annual allotment of 10,667 visas has doubled nearly every year since 2009. An estimated 85% of the EB-5 funds in 2014 have come from China. That money been used to build projects across California and elsewhere, including the JW Marriott hotel at L.A. Live in downtown Los Angeles.
As of fiscal year 2012, the U.S. Citizenship and Immigration Services (USCIS) agency estimated that the program had created at least 49,000 jobs. The USCIS said the EB-5 has generated more than $6.8 billion in new investment since its inception in 1990. It’s popular with Republicans and Democrats who tout the program’s potential to create jobs. Changes in the EB-5 program had been included in a comprehensive immigration reform bill that languished in Congress for two years before collapsing this summer. At a July EB-5 convention in Newport Beach, Rep. Bob Goodlatte (R-Va.) called the delays unacceptable and promised reforms to an audience of attorneys and investors. “This is a tremendous boon to our economy,” Goodlatte said. In May, Goodlatte and Rep. Darrell Issa (R-Vista) introduced a proposal to streamline the application process and increase the number of visas available to the EB-5 program. The bill is still in committee.
Wilson Harvey Browndorf LLP operates an Elite EB-5 and Global Investment Division from its offices in Irvine, California and New York, New York. Led my Firm Managing Partner, Matthew Browndorf and the practice groups co-managing member, John Hayner, both Browndorf and Hayner have advised clients currently considering the EB-5 Visa as part of their global investment strategies in the United States to have their applications prepared before the year end so they are first in line for the January filings in 2015. John Hayner said, “Much like rising interest rates in home mortgages will cause an increase in new home sales from a rush of buyers to lock in lower rates, we expect the meeting of the EB-5 quota to cause a rush in preparatory legal work over the next quarter so applicants are ready with their finger on the button come January 1, 2015.” Stella Wang, MBA, who works at Wilson Harvey Browndorf’s Irvine office, said, “The EB-5 program is particularly attractive to Chinese investors who are already making an investment in the United States as part of a merger and acquisition activity.”
Wilson Harvey Browndorf, LLP
Justin Palermo, 800-690-5557
WHB’s philanthropic efforts keep pace with company growth
IRVINE, CA (BUSINESS WIRE) – Wilson Harvey Browndorf (“WHB”) continues their charitable giving with their generous donation to the Juvenile Diabetes Research Foundation (“JDRF”). On May 22, 2014, L.A. Car Connection joined with JDRF for their 3rd annual Track Day Invitational at Willow Springs International Raceway. The JDRF’s goal of improving the lives of every person affected with Type 1 Diabetes took one more step, as they successfully raised over $24,000 on Track Day. The challenge of fast speeds, swift turns, and challenging elevations matched the enthusiasm and support displayed by the WHB team, who was happy to make contributions to the cause.
This continues a trend for the WHB team and their active role in participating in charitable organizations that hold sentimental meaning to individuals in the WHB team. Last November, firm managing partner Matthew Browndorf, Sarina Browndorf, and Anthony Arnold attended the Diamond Ball at the Ritz-Carlton in Laguna Niguel to support the Wounded Veterans Initiative of Canine Companions for Independence and the Friends of Orange County’s Homeless Pets. “Our military veterans are a very important part of our community and have been severely underserved for far too long, the Diamond Ball proudly represented those who fought for us,” said Anthony Arnold, senior associate at the WHB Irvine office. In 2012, Chris Shea, the non-lawyer managing member of WHB’s affiliate, BP Law Group, made a presentation and testimonial of his personal connection with the Hope Foundation.
About Wilson Harvey Browndorf, LLP
Wilson Harvey Browndorf LLP is an international law firm with core offices in New York, California, Washington, D.C. and Arkansas. Focused on the needs of business and finance clients in mergers and acquisitions and business and insurance litigation, Wilson Harvey Browndorf LLP is managed by Firm Managing Partner, Matthew C. Browndorf, resident in the New York City office. For more information about the services provided by Wilson Harvey Browndorf LLP, please visit our website at http://whbllp.com/.
About BP Law Group, LLP
In an economic climate where more and more individuals are defaulting on mortgages, credit cards, loans and other financial obligations, BP Law Group has in place proven processes to help clients recover overdue balances as quickly and effectively as possible. With hubs in California, Texas and New York, the firm provides debt collection and a wide range of other legal services from offices around the world. The firm’s geographic diversity and extensive investments in technology enable its high-caliber professionals to efficiently cater to clients in the world’s leading business and financial markets. For more information, please visit www.bplawgroup.com.
Leading Litigation and Transactional Firm Increases Size with Surge in Industry Presence
IRVINE, Calif.–(BUSINESS WIRE)–The partners at Wilson Harvey Browndorf LLP, a New York and Southern California-based full service law firm, today announced the opening of their new flagship location in Irvine, Calif. Featuring a state-of-the-art AM LAW 100-style design, the office will house a total of 85 employees known for diverse business experiences, education and interests that continue to shape the firm’s dynamic culture. The partners opted to make the move to the location not only to properly house their ever-expanding staff but also make themselves more easily accessible to those clientele based in Orange County.
“We are proud to call this new location the site of our flagship as it is a representation of what we strive for – deliverance of superior service to our clients and the level of personal accessibility they require.”
“Our passion to be the most effective, solution-driven law firm is unsurpassed, and this is clearly evident in our-day-to-day interactions with clients,” said Firm Co-founder Matthew Browndorf. “The flagship expansion only further solidifies our place in the community as a solid force with which to be reckoned, and my colleagues and I are excited for what is on the horizon.”
In addition to its remarkably modern design, the new office serves as a professional yet comfortable spot for visitors of all kinds, including investors, business colleagues, and new and existing clients. The office’s ample space houses the firm’s full range of C-suite executives, attorneys, legal personnel and support staff, with multiple conference rooms and massive meeting areas only slightly denting the location’s overall 22,000 square footage.
“Over the years, Wilson Harvey Browndorf has carved a firm path to success that continues to deepen as we garner more and more success,” says Irvine Managing Partner Michael Keadjian. “We are proud to call this new location the site of our flagship as it is a representation of what we strive for – deliverance of superior service to our clients and the level of personal accessibility they require.”
Irvine, Calif. (March 12, 2014) – The partners at Wilson Harvey Browndorf LLP, a New York and Southern California based full service law firm, announced today that on March 7, 2014, Managing Partner Marc Lazo secured a major defense victory following a two-week premises liability jury trial. This win stands particularly triumphant for the firm because despite a recent trend of Orange County juries awarding large verdicts to personally injured plaintiffs, Mr. Lazo was able to secure a favorable verdict for the defense.
The inciting incident of the case took place at a Holiday Inn in San Clemente, California. The plaintiff, a formal world record-holding swimmer and Ironman competitor, claimed that she suffered life-altering physical injuries from a fall on an allegedly defectively designed walkway in the hotel’s parking garage. The plaintiff claimed she was injured in such a way that her competitive career was forever taken away from her and will prevent her from future record-breaking pursuits. The plaintiff sought hundreds of thousands of dollars in retribution for damages and pain and suffering. Her lawyer, a highly experienced trial attorney and member of the American Board of Trial Advocates, retained a safety expert who deemed the walkway unsafe for a variety of reasons, and notwithstanding the fact that defense had no such expert of its own, Mr. Lazo was able to obliterate the expert’s opinions in cross-examination. Ultimately, after just half-day of deliberation, the jury came back with a defense verdict and awarded the plaintiff no damages.
“Through the tenacious work of our team, we are proud to report this recent defense victory,” said Mr. Lazo. “We know that whatever the latest jury trend might be, we at Wilson Harvey Browndorf LLP will not back down from seeking justice for our clients, and will continue to strive for precedential setting verdicts and judgments that better our legal community as a whole.”
Leading the firm’s litigation practice out of the Irvine, California office, Mr. Lazo focuses his practice on complex business and commercial litigation, as well as insurance and real estate law. He represents premises owners, non-profit organizations, institutional lenders and brokers, as well as real estate developers and private investors in a wide array of litigation matters, and regularly advises his clients to develop litigation-avoiding strategies in their business operations and capacities.
WCCB, LLP is a limited liability law partnership organized under the laws of the state of New York and licensed to practice law within the various listed jurisdictions. To the extent that WCCB, LLP is required to accept a home jurisdiction, we accept the jurisdiction of New York.