By: Russ Spencer

For nearly a decade, the saga of ASA College and its embattled owner, Alex Shchegol, has played out in New York’s courts as a cautionary tale of how mismanagement, misconduct, and aggressive legal tactics can mire landlords in years of costly litigation. The long-running dispute between Shchegol’s now-defunct for-profit college and its landlord, JEMB Realty, reached its conclusion only recently — thanks in no small part to the unrelenting efforts of attorneys Terrence and Darren Oved of Oved & Oved LLP, who navigated a labyrinth of evasive maneuvers to deliver a decisive victory for their client.

According to a report that appeared on Thursday at The Real Deal, the origins of the dispute date back to 2013, when ASA College inked a significant lease for nearly 160,000 square feet at JEMB’s Herald Center at 1293 Broadway. But by 2020, as ASA’s fortunes declined under mounting controversy, the school defaulted on its rent obligations. JEMB sued, and the battle quickly escalated into a sprawling, multi-front legal war.

As The Real Deal report documented, Shchegol had become the face of everything wrong with the for-profit college industry. Accused of sexual misconduct by multiple women, criticized for deceptive marketing campaigns, and ultimately facing the loss of accreditation, he was not merely a bad tenant but a figure engulfed in scandal.

When the courts awarded JEMB more than $18 million in judgments in 2022, Shchegol did not concede defeat. Instead, JEMB’s lawyers accused him of deliberately shielding assets, transferring properties and cash to his wife, Alla, in an effort to make himself judgment-proof.

One filing detailed how Shchegol transferred four Staten Island parcels to his wife for no consideration just before a default judgment was entered. He also allegedly sold a Florida property for $5.5 million, routing the proceeds to Alla. Adding yet another layer of complexity, Alla filed for divorce in March 2023 — after two decades of separation — which JEMB’s lawyers argued was designed to create a “veneer of separation” to further insulate assets from seizure.

It was here that Terrence and Darren Oved demonstrated their firm’s reputation for aggressive, sophisticated advocacy. The brothers, co-founders of Oved & Oved LLP, methodically unraveled what they alleged were fraudulent transfers and presented a clear picture of judgment evasion to the courts.

In their filings, they detailed Shchegol’s attempts to sidestep liability and pressed relentlessly for enforcement of the judgments. Ultimately, the settlement JEMB secured reflects years of strategic perseverance by the Oveds, who publicly framed the resolution as a testament to their client-focused approach.

“We are proud to have secured this remarkable outcome for our client after diligently pursuing defendants through their complex legal maneuvering,” Terrence and Darren Oved said in a statement reported by The Real Deal. “This settlement reflects our firm’s unwavering commitment to achieving outstanding results and safeguarding our clients’ interests.”

Their words capture the essence of the battle: one where a landlord had every reason to despair over collecting from an adversary who had made obstruction an art form, but where disciplined legal pursuit yielded accountability.

The Real Deal has followed the ASA College meltdown closely, noting how Shchegol’s legal counterattacks included filing a $100 million lawsuit against JEMB and its principal, Joseph Jerome, alleging interference with ASA’s accreditation. The claim was met with scorn by Oved & Oved, who highlighted the college’s litany of well-documented failures in accreditation and governance.

In court filings, they noted: “Unable to dig itself out of the mess it created for itself, ASA’s Complaint baselessly attempts to foist the consequences of its actions on to defendants.”

Ultimately, ASA’s case collapsed, and its once-prized Herald Center space has since been re-leased to Yeshiva University, while JEMB secured a $300 million refinancing earlier this year — further proof, as The Real Deal report observed, of the landlord’s financial resilience despite years of litigation.

For those familiar with New York’s legal and real estate circles, the names Terrence and Darren Oved are synonymous with high-stakes litigation. The brothers, both seasoned trial attorneys, built their firm into a powerhouse known for its work in commercial disputes, real estate litigation, intellectual property, and white-collar defense.

Terrence Oved, the firm’s senior partner, is a veteran litigator with decades of experience handling complex commercial matters. His courtroom reputation is one of meticulous preparation and forceful advocacy, qualities that have earned him respect in New York’s unforgiving legal environment. He has represented Fortune 500 companies, prominent developers, and high-net-worth individuals in disputes spanning from real estate to corporate governance.

Darren Oved, the firm’s managing partner, complements his brother with expertise in litigation strategy and negotiation. Known for his incisive legal writing and courtroom presence, Darren has spearheaded numerous high-profile cases involving real estate, intellectual property, and international disputes. Together, the brothers embody the boutique-firm model at its most formidable: lean, highly specialized, and unafraid to take on protracted fights against resourceful opponents.

Their work on behalf of JEMB in the ASA litigation exemplifies their skill set — untangling a web of asset transfers, pressing claims across multiple lawsuits, and resisting attempts at delay until a favorable settlement was achieved.

The case also highlights a recurring theme covered by The Real Deal: how New York landlords often face not just tenant defaults but elaborate strategies to delay or evade judgments. With office vacancies and distressed assets reshaping the city’s commercial real estate market, such disputes are likely to multiply.

In this context, firms such as Oved & Oved have become crucial players in defending landlord interests. Their ability to track asset transfers, pierce attempts at obfuscation, and sustain legal pressure over years-long battles sets a precedent for how landlords can protect themselves from tenants unwilling to honor obligations.

The settlement brings an end to a contentious three-year litigation, during which JEMB Realty was forced to chase its tenant through layers of legal maneuvering. For Shchegol, whose once-expansive ASA College empire has collapsed under scandal and insolvency, the case is yet another blow.

For JEMB and its attorneys at Oved & Oved, the outcome represents vindication. Not only has the landlord reclaimed its space, now occupied by Yeshiva University, but it has also secured a path to collect from a defendant who worked tirelessly to place himself beyond reach.

And for Terrence and Darren Oved, the case reinforces their reputation as among New York’s most tenacious real estate litigators, demonstrating once again why clients turn to them when the stakes are at their highest.

As The Real Deal report summed it up, this was more than just a landlord-tenant dispute; it was a test of persistence, legal ingenuity, and the ability to bring a seemingly judgment-proof adversary to account.