Resource Published to Help Organizations Link to Trending Legal Issues

FOR IMMEDIATE RELEASE—November 18, 2020

SOUTHFIELD, Mich. —As Michigan inches closer to 2021, the uncertainty in the coming months can feel overwhelming. In a year with a still ongoing pandemic that has changed our very way of life and has left us wondering what comes next, the need to stay up to date on changes to legal issues is greater than ever.

Recognizing a need for individuals and businesses alike to stay up to date on the latest legal trends to consider in 2020 before going into 2021, Foster Swift created a “2020 Year in Review” resource webpage. The page identifies a number of key topics for individuals and businesses to consider going forward into 2021.

This page will be updated to include the latest articles, videos and other resources provided by attorneys across the firm’s practice groups. Among the many topics addressed will include:

• Business growth opportunities during COVID through mergers & acquisitions
• Current updates to COVID relief, including PPP loan forgiveness
• Business succession planning strategies
• Best practices for debt collection during a pandemic
• The importance of HIPAA compliance

To learn more, be sure to periodically visit the page at fosterswift.com/f-year-in-review-resource-page-2020.html.

Hogan Covers Bankruptcy in Wake of COVID

FOR IMMEDIATE RELEASE—October 6, 2020

GRAND RAPIDS, Mich. – Foster Swift’s Finance Practice Group continues to host a complimentary half hour webinar every second Wednesday of each month through 2020.

The next Second Wednesday will be on October 14 from 9:00-9:30 am. Moderated by Practice Group Leader Patricia Scott, bankruptcy attorney Scott Hogan will cover the topic “Your Customer Filed Bankruptcy – What’s Next?” While bankruptcy is currently at an all-time low, many predict that it is simply the ‘Calm before the Storm’ and businesses should know their rights and what they can do to protect themselves as a likely surge of filings may happen in the coming months.

While not a substitute for legal advice, these sessions give individuals, business owners and managers an opportunity to gain insight in this changing legal environment and offers the chance to ask general questions following the presentations.

Hogan practices from the firm’s Grand Rapids office and represents trustees, creditors, and debtors in all aspects of bankruptcy. For registration, visit the following link: https://bit.ly/3854E8w

For those unable to virtually attend, video recordings of the previous Second Wednesday sessions have been added to the finance practice page for viewing at fosterswift.com/services-finance-real-estate-bankruptcy-law.html.

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Since 1902, Foster Swift Collins & Smith, PC has provided comprehensive legal services to businesses, municipalities and individuals. The firm employs 95-plus attorneys and over 100 support staff in six locations; Lansing, Detroit, Southfield, Grand Rapids, Holland and St. Joseph. For more information about the firm, its attorneys and to access recent publications, visit www.fosterswift.com.

Destination Detroit’s Economic Development Partners Attract $384.9 Million, 2,639 Jobs to Southeast Michigan in Second Quarter of 2016

Destination Detroit’s Economic Development PartnersDuring the second quarter of 2016, Destination Detroit’s economic development partners directly assisted with the creation of 2,639 new jobs and $384.9 million in new investment.

One of the largest and most notable projects came from global automotive supplier Flex-N-Gate, who in May announced their decision to build a new, high-tech parts factory in the I-94 Industrial Park located on Detroit’s east side.

“Flex-N-Gate’s decision to invest here is meaningful on so many levels. Not only does a project like this reaffirm Detroit as one of the global centers for automotive manufacturing, but, most importantly, this plant will bring hundreds of well-paying jobs to local residents,” said Detroit Economic Growth Corp. President and CEO Rodrick Miller.

“The Detroit Economic Growth Corp. is proud to have played a role in this project’s success and we look forward to working with Flex-N-Gate well into the future. From infrastructure to talent, the Detroit region has a lot to offer companies,” Miller continued.

Learn more about a few of the projects that helped drive economic growth in the Detroit region from April through June of 2016:

Quarter 2 Project Highlights
Company: Flex-N-Gate
Location: Detroit
Partner Lead: Detroit Economic Growth Corp.
New Jobs: 400 initial, up to 650 over the next three to five years
New Investment: $95 million
Description: Flex-N-Gate, a Tier 1 supplier of bumpers, lighting, front-end modules and other automotive products, announced in May its plan to construct a 30-acre, $95-million factory in Detroit’s I-94 Industrial Park. Once completed, the plant will initially hire 400 people to provide aftermarket parts for Ford Motor Co., with the potential to employ up to 650 workers over the next few years. “The headline is about jobs. Hundreds of outstanding, well-paying jobs,” said Flex-N-Gate owner Shahid Khan in a Detroit Free Press article profiling the project.

Company: CityFlats Hotel and Sperry’s Movie House
Location: Port Huron
Partner Lead: Economic Development Alliance of St. Clair County
New Jobs: 40
New Investment: $20 million
Description: Michigan-based developer Chuck Reid is spearheading two major mixed-use redevelopments in downtown Port Huron. The area’s historic Sperry’s building is currently undergoing construction to become a movie house, complete with 12 small theatres, a total of 400 seats and a restaurant. The $11-million project is aiming to open within the next few months.

In addition, Reid is slated to transform the former Michigan National Bank building into the state’s third CityFlats Hotel. Once finished, the $9-million building renovation will include retail, conference space and a ballroom.

Company: Cosworth
Location: Shelby Township
Partner Lead: Macomb County Department of Planning and Economic Development
New Jobs: 50
New Investment: $30 million
Description: After initially exploring the option to build a manufacturing operation in Indianapolis, Ind., United Kingdom-based Cosworth will construct a new facility in Shelby Township to make V-8 cylinder heads for automakers. The company is expected to invest $30 million in the facility and hire at least 50 new employees. Although active in the automotive, aerospace and defense industries, the engine technologies company is globally recognized for its high-performance race engines, featured frequently in Indy-car competitions.

About Destination Detroit
Representing the 11 counties that make up Southeastern Michigan, Destination Detroit is a collaborative business attraction effort led by the Detroit Regional Chamber in partnership with the region’s principal economic development agencies. Each quarter, Destination Detroit aggregates and promotes the investment and job creation results for projects directly impacted by these organizations.