OAKLAND, CA – Oakland City Attorney Barbara J. Parker has obtained $850,000 for the City in a bankruptcy court settlement with Outer Harbor Terminal, LLC, a company that leased Port of Oakland property and managed shipping and other operations there.
Outer Harbor Terminal, also known as Ports America Outer Harbor Terminal, filed for bankruptcy in February of this year. The company had a 50-year lease with the Port of Oakland to run Port operations.
In November, the U.S. Bankruptcy Court for the District of Delaware approved the payment of $850,000 to the City of Oakland to settle a City claim regarding transfer tax (a tax the City imposes when a party sells or conveys an equivalent property interest in real estate). The City has received the payment.
City Attorney Parker thanked Special Counsel Dianne Millner, Deputy City Attorney Kathleen Salem-Boyd and the City’s outside counsel, Monique Jewett-Brewster of the Hopkins & Carley law firm, for their work on the case.
“Securing large settlements like this in bankruptcy court is very challenging. I applaud our team for its skillful handling the case,” Parker said. “Large corporations operating in our city must pay their fair share of taxes, just like everybody else. These dollars will be deposited in the City’s general fund and will help to pay for police, firefighters, libraries, parks and other crucial services that the people of Oakland rely on and deserve.”