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  • New Jersey Sees Surge in High-Profile Bankruptcy Cases

New Jersey Sees Surge in High-Profile Bankruptcy Cases

New Jersey Sees Surge in High-Profile Bankruptcy Cases

by broy@rltlawfirm.com / Wednesday, 27 December 2023 / Published in Law
Prominent companies in financial trouble are increasingly seeking bankruptcy protection in New Jersey, when they would previously have sought jurisdictions like New York, Delaware, Virginia and Texas.
Examples including Bed Bath & Beyond Inc., Rite Aid, WeWork and Z Galleria have sought Chapter 11 protection in Newark and Trenton. In addition, Whittaker, Clark & Daniels, a defunct talc supplier, recently filed for Chapter 11 protection in New Jersey after a $29 million verdict in South Carolina.
Critics have accused large companies of gaming the system by filing for bankruptcy in districts where they are not based in order to snag sympathetic judges. Bipartisan bills were introduced to Congress in 2018 that would ban corporations from “venue shopping,” but the proposed legislation did not gain traction.
Rabinowitz Lubetkin & Tully has been selected as local counsel for the Honorable Shelley C. Chapman (Ret.), future claimants’ representative, represented by Willkie Farr & Gallagher in the Whittaker, Clark & Daniels bankruptcy. RLT is also representing landlords of both Bed Bath & Beyond and Rite Aid.
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Rabinowitz, Lubetkin & Tully, LLC is a six (6) lawyer firm that focuses its practice in the areas of bankruptcy, civil litigation, and commercial real estate. RLT’s attorneys are leaders in their field. Chambers USA, which lists America’s leading lawyers for business, and is a highly-respected legal directory based on in-depth interviews with in-house counsel and private practice attorneys, recently ranked RLT ahead of many larger well-respected firms. RLT was described as "deliver[ing] effective, timely and beneficial services that yielded favorable results." RLT was also noted as "hav[ing] tremendous knowledge and [the ability to] do timely and efficient work."

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