Disputes between the Board of Directors of the Orange YWCA caused the Bankruptcy Court to appoint Jay L. Lubetkin as Chapter 11 Trustee. Recognizing that the YWCA could not support the costs necessary to remodel its full service educational, Olympic swimming, basketball, weightlifting, and exercise facility while also understanding the significant benefit to the urban community served by the premises, Jay negotiated a sale of the facility to the City in order to simultaneously provide a source of recovery for creditors of the YWCA bankruptcy estate, while ensuring through ownership of the property by the City, continued community benefits associated with access to the property. Over the vigorous objections of a local gadfly, Jay consummated the sale transaction and returned a dividend of in excess of 75% to creditors of the YWCA in a liquidating plan.
