Financial Services

Porzio Recognized in 15 Practice Areas by U.S. News – Best Lawyers "Best Law Firms" 2017 Rankings

11/1/2016| News

Porzio, Bromberg & Newman P.C. is pleased to announce that the firm has received Tier 1 New Jersey 2017 rankings by U.S. News – Best Lawyers “Best Law Firms” in the following 12 practice areas:

  • Appellate Practice
  • Arbitration
  • Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
  • Commercial Litigation
  • Litigation – Bankruptcy
  • Litigation – Intellectual Property
  • Litigation – Labor & Employment
  • Litigation – Real Estate
  • Mass Tort Litigation / Class Actions – Defendants
  • Mediation
  • Personal Injury Litigation – Defendants
  • Product Liability Litigation – Defendants

Additionally, the firm received Tier 2 metropolitan rankings in Trusts & Estates Law, along with Tier 3 metropolitan rankings in Environmental Law and Tax Law.

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8th Annual Porzio Employment Law Forum

11/15/2016| News

The 8th Annual Porzio Employment Law Forum was held on November 15, 2016 at Porzio's Morristown, NJ office location.

In-house counsel, business owners, managers, human resource professionals and other company officials with a need for an understanding of employment law and regulations attended from all over New Jersey. Participants learned about the latest developments in federal and New Jersey employment law, networked with peers and Porzio attorneys, and gained up-to-date knowledge to help minimize their organizations' exposure to liability.

Industry hot topics included:

  • "Job Descriptions: Cutting Edge Tips for Ensuring You Get It Right the First Time," presented by Vito A. Gagliardi, Jr. Esq. and Janelle Edwards-Stewart, Esq.
  • "Knowing That The "E" in "E-Mail" Stands for "Evidence:" Best Practices For Employers," To Manage Electronically Stored Information presented by Eric L. Probst, Esq. and Deborah H. Share, Esq.
  • "New Regulations, Legislation, and Case Law Impacting Your Business," presented by Sal M. Anderton, Esq., Marie-Laurence Fabian, Esq., and Eliyahu S. Scheiman, Esq.
  • "Cyber Security For Employers: Not A Question Of If, But When," presented by Deirdre R. Wheatley-Liss, Esq. and David L. Disler, Esq.
  • "Critical Changes to the FLSA: Exempt vs. Non-Exempt Employees," presented by Kerri A. Wright, Esq. and Emre M. Polat, Esq.
  • "Potential Impact of Trump Administration on New Jersey Businesses," presented by Vito A. Gagliardi, Jr., Esq., Sal M. Anderton, Esq. and Barbara DeMarco

This complimentary seminar provided the option of New Jersey Continuing Legal Education credits and general credit hours toward PHR, SPHR and GPHR recertification through the HR Certification Institute.

To receive the Porzio Employment Law Monthly and to stay informed on future Porzio events, please sign up here.

Porzio Bankruptcy Team Wins Avoidable Transfer Verdict of Over $1.15 Million

8/10/2016| News

After a four-day trial before U.S. Bankruptcy Court Judge Andrew B. Altenburg, Jr. in Camden, New Jersey, Porzio, Bromberg & Newman ("Porzio") successfully obtained a judgment of over $1,155,000 against Susquehanna Bank, now known as BB&T Bank ("Bank"). 

On behalf of client Andrew Sklar, the Chapter 7 Trustee ("Trustee") of Global Protection USA, Inc., Porzio pursued the avoidance and recovery of both a $500,000 pre-bankruptcy transfer as a preference and/or fraudulent conveyance, and $655,000 in post-bankruptcy transfers as being unauthorized under the Bankruptcy Code or court order.  Additionally, Porzio sought an award of certain fees and expenses incurred by the Trustee. 

The Porzio Bankruptcy team overcame unique challenges throughout this litigation.  Ultimately, Bankruptcy Judge Altenburg issued a favorable 50-page decision in which he agreed that the evidence supported Porzio's arguments, and found the Bank's arguments unpersuasive.  Specifically, Judge Altenburg ruled that: (1) the $500,000 transfer was recoverable as a preferential transfer; (2) the $655,000 in post-bankruptcy transfers were recoverable as transfers not authorized by the Bankruptcy Code or court order; and (3) the Trustee was entitled to $2,000 in fees and expenses due to the Bank's violation of a certain discovery order.  A subsequent appeal filed by the Bank was settled with the Trustee recovering a total of $1,100,000, which represents ninety-five percent (95%) of the principal amount of the judgment.

The Porzio Bankruptcy team was led by practice group co-chair and principal John S. Mairo.  Playing primary roles were counsel Kelly D. Curtin and paralegal Maria Dermatis.  

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Porzio Launches Porzio Compliance Services™ to Provide Managed Solutions for BEA Mandatory Reporting Obligations

9/17/2015| News

To support individual and business clients tasked with mandatory reporting obligations to the U.S. Bureau of Economic Analysis (BEA), the law firm of Porzio, Bromberg & Newman, P.C. (Porzio) proudly announces the launch of its newest subsidiary, Porzio Compliance Services™ (PorzioCS™).  Based in New York City, PorzioCS's regulatory compliance team is dedicated to simplifying the BEA's complex requirements and streamlining the filing process, significantly decreasing clients' reporting burden and ensuring compliance.

PorzioCS personnel offer vast experience in deciphering the complicated regulations imposed by the BEA.  Beyond the scope of BEA reporting, the PorzioCS team is well-versed in  business compliance and the complex regulatory framework imposed by the BEA.  The PorzioCS team is led by Robert M. Schechter, JD and Christopher F. Schultz, JD.

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Restructurings with Cross-Border Investments: Maintaining U.S. Bureau of Economic Analysis Regulatory Compliance...

3/19/2015| Article

By Robert M. Schechter and Christopher F. Schultz

Bloomberg BNA, BNA's Bankruptcy Law Reporter, 27 BBLR 427, March 19, 2015 -- Whether seeking work in the international insolvency arena or not, restructuring and insolvency professionals are increasingly jumping into engagements with clients who hold interests beyond the borders of the clients’ home country. Clients (corporate or individual) with even minor business investments abroad, such as a minority stock interest or real estate holding for business purposes, may require special consideration and counseling to avoid harsh penalties for failure to satisfy regulatory reporting requirements.

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2014 Tax Update

12/5/2014| Article

By Philip J. Siana, Joseph G. Dolan, Deirdre R. Wheatley-Liss, Mary B. Goldhirsch and Matthew C. Mills

Although taxpayers have been spared a government shutdown this year, extensive changes to the tax laws will again delay the IRS's acceptance of income tax returns that will be filed. Before looking too far ahead, however, taxpayers would be remiss to not consider potential planning opportunities and pitfalls before ringing in the new year.

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