Jay L. Lubetkin concentrates his practice in the representation of all parties in interest in Chapter 11 and Chapter 7 bankruptcy cases, including the representation of corporate, partnership, and individual debtors, Chapter 11 trustees, secured creditors, official committees, competing plan proponents, landlords, liquidators, and equity interest holders. He serves as both a chapter 11 trustee and chapter 7 panel trustee. He is a well-respected mediator on the register maintained by the Clerk of the Bankruptcy Court and has conducted numerous successful mediations in the last year. He also maintains a substantial real estate, commercial litigation, and transactional practice.
A significant portion of Jay’s efforts is on behalf of closely held New Jersey businesses seeking reorganization of their financial affairs. Jay served as lead bankruptcy counsel for Ah Pizz Corporation, Harvest Transportation, IE Test, LLC, Giant Carpet Stores of America, Wall Furniture Outlets, Arthur’s Catalog Showrooms, Eber’s Patio Shop, Druckers Electronics, Internal Intelligence Service, Inc., and Surrey Electric, among others. He was counsel to the official committee of unsecured creditors in The Channel Home Centers and Trader Horn bankruptcy proceedings.
In his capacity as a Chapter 11 trustee for Scantek Medical, Inc., Jay took the reins of this public medical device manufacturer, resolved significant joint venture partner litigation, and obtained confirmation of a liquidating plan. In the case of Amark Industries, Inc., Jay operated a $1,000,000 wire wholesaler. Jay’s turnaround efforts created monthly operating profits approaching six digits.
Jay previously served as Chapter 11 trustee for Lisanti Foods, Inc., a $350,000,000 food wholesaler. In that case, Jay obtained confirmation of a plan affecting substantive consolidation and prevailed on the appeal of the confirmation order both in the District Court and the Third Circuit Court of Appeals. He also conducted hotly contested fraud litigation against the corporate affiliates, yielding an approximate $2,500,000 recovery for the estate.
Jay also served as Chapter 11 trustee for the City of Orange Township YWCA. His stewardship enabled the sale of the debtor's property to the City of Orange, enabling the creation of a youth and cultural center while providing creditors with a return of in excess of seventy-five percent (75%).
Jay also has extensive experience representing individuals in complex bankruptcy proceedings. Jay concluded the representation in the Bankruptcy Court for the Southern District of New York of the president and sole shareholder of a third generation industrial steel fabricator, accomplishing the discharge of more than $30,000,000 in debt and the successful resolution of five non-dischargeability proceedings. Jay recently ushered the principal of a large-scale general contractor through the Chapter 7 process, resulting in the discharge of millions in bank and bonding company debt.
Jay engineered the bankruptcy sale of the real property of a development debtor, valued at more than $100,000,000 upon completion, while simultaneously resolving complex membership disputes and broker lien claim encumbrances.
Jay is a chapter 7 panel trustee for the District of New Jersey, Region 3, Newark Vicinage, and a chapter 11 trustee by appointment from the United States Trustee’s Office. In his capacity as Chapter 7 Trustee, he has administered more than 10,000 bankruptcy cases.
Jay has drafted numerous asset purchase agreements, limited liability company operating agreements, leases, management agreements, construction contracts, confidentiality and non-disclosure agreements, real estate sale contracts, employment agreements, and numerous other commercial transaction documents.
Jay brings the unique combination of a Wharton academic degree, substantial real-world business experience and a sophisticated understanding of the complex nuances of the legal process to his practice.
Jay has extensive Bankruptcy Court trial experience, and recently served as the lead trial attorney in a twelve-day non-dischargeability trial.
Jay has lectured on bankruptcy related matters before the American Bankruptcy Institute, the New Jersey Institute for Continuing Legal Education, the National Business Institute, and the Essex County Bar Association, is a frequent panel lecturer at the annual New Jersey Bankruptcy Section Bench Bar Conference, and has written articles for The Bankruptcy Strategist and the Essex County Bar Association Chronicle. Jay is a co-author of a chapter in the New Jersey Bankruptcy Manual.
Jay receives the prestigious AV rating from Martindale-Hubbell, has been consistently recognized as a New Jersey and New York area “Super Lawyer,” and is listed in the Best Lawyers of New York and Chambers USA. He is a three-term member of the District V-B Ethics Committee, and regularly serves as a panel chair hearing and determining grievances respecting alleged violations of the Rules of Professional Conduct.