“A man complained that on his way home to dinner he had every day to pass through that long field of his neighbor’s. I advised him to buy it, and it would never seem long again.”
– Ralph Waldo Emerson
Steven became a member of BoltNagi’s transactional department in 2012, after serving as judicial law clerk to the Honorable Alan D. Smith of the Superior Court of the Virgin Islands. With a wealth of experience in commercial, corporate, and financial legal services that any business with active or prospective operations in the Virgin islands would require, he has quickly created a name for himself among his clients.
He has worked in the legal areas of corporate entity formation and structuring, asset transfers, mergers & acquisitions, general contract law, real estate, and commercial lending. In addition, he is also well versed in maritime law in relation to maritime transactions and finance, which is an asset to clients in the U.S. Virgin Islands.
A few hallmarks of his work include:
- Completed a variety of commercial transactions including machinery/equipment transfers, supply agreements, service agreements, contracts of carriage, franchise agreements, nondisclosure agreements, and government procurement contracts.
- Closed a large variety of commercial real estate transactions on behalf of purchasers, sellers, landlords, tenants, lenders, borrowers, and developers, which included conducting due diligence, negotiating terms and drafting/revising all necessary documentation (e.g., purchase/sales contracts, ground leases, retail leases, mortgages, leasehold mortgages, deeds, SNDAs, estoppel certificates, etc.)
- Served as Virgin Islands local counsel in large national and international real estate transactions including the development/construction, financing and transfer of large hotel properties and timeshare resorts.
- Represented local and national lending institutions in a wide variety of secured commercial loans (term, lines, and construction), which included negotiating terms, preparing loan agreements and related documents, initiating and supervising due-diligence, conducting closings and resolving post-closing matters.
- Structured and closed the purchase, sale, and financing of multiple fleets of vessels, which included completing due diligence, negotiating transaction documents, and adhering to federal + local maritime laws, regulations, and procedures.
- Structured and closed a variety of hospitality-related transactions including hotel ownership transfers, management agreements, franchise agreements, timeshare regimes, and on-property vendor agreements.
- Formed and structured new business entities tailored to needs of clients and drafted customized corporate governance documents (e.g., bylaws, operating agreements, partnership agreements, and joint venture agreements)
- Participated in mergers/acquisitions of local, national, and international corporate entities, which included the drafting and negotiation of stock purchase agreements and asset purchase agreements.
- Maintained existence of corporate entities and regularly fulfilled all corporate secretarial requirements.
- Drafted opinions of counsel of Virgin Islands and federal law concerning banking, real estate, maritime, motor vehicles, aviation, corporate regulation, consumer protection, intellectual property, labor & employment, etc.
- Designed and implemented compliance training program for clients in response to newly-promulgated regulations.
- Analyzed, commented on, and drafted alternatives to proposed legislation and local regulations.
Steven’s qualifications include being a member of the Virgin Islands Bar Association and the State Bar of Georgia. However, he is also active in the American Bar Association and the Section of Real Property, Trust & Estate Law where he serves as the Vice Chair of the Hotels, Resorts & Tourism Committee.
Steven is the Vice Chair of the Virgin Islands Bar Association’s Legislation and Law Reform Committee as well as a member of the Supreme Court of the Virgin Islands Interest of Lawyers Trust Account Board.
District Representative, Tenth District of the Young Lawyer, American Bar Association (2013-present)
- Completed real estate and financial transactions including purchase/sales, mortgages, refinances, and deeds in lieu of foreclosure for residential and commercial properties
- Structured many new businesses and reorganized existing ones so as to be tailored to liability, tax, and corporate governance needs of the owners while ensuring compliance with all relevant laws and regulations
- Participated in mergers/acquisitions of local and national corporate entities (both asset sales and equity sales)
- Represented clients before the Virgin Islands Economic Development Commission regarding application for EDC tax status as well as resolution of alleged compliance violations
- Administered domiciliary and ancillary decedents estates (both testate and intestate)
- Drafted all necessary documents (wills, trusts, powers of attorney, medical powers of attorney, etc.) for estate plans tailored to unique needs and circumstances of the client
- Represented clients before the Superior Court of the Virgin Islands in limited matters