Bachrach Quoted on Glitch Bill

Foley Partner Daniel Bachrach was quoted in an article that appeared in Globe St. on June 28, 2011 titled “‘Glitch Bill’ Gives Developers New Exit Strategy.” Bachrach discusses a Florida law which eliminates ambiguities in the Distressed Condominium Relief Act by clearly defining bulk property buyers and ensuring that they will not inherit a developer’s liabilities when purchasing foreclosed property. He states that the law gives developers a possible new exit strategy for some existing condominiums with available inventory by allowing them to subject units to a separate condominium regime that allows timeshare plans.