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Bruce J. Wisotsky

  • Jan 08, 2021Before the Deluge: Preparing for the Anticipated Rise in Bankruptcy Filings

    Melissa Anne Peña, a Member of law firm Norris McLaughlin, P.A., and Chair of its Bankruptcy & Creditors’ Rights Practice Group, along with Jerome F. Gallagher, Jr., and Bruce J. Wisotsky, also Members of the firm, will present the free webinar, “Before the Deluge: Preparing for the Anticipated Rise in Bankruptcy Filings.”

    Preparing for the Anticipated Rise in Bankruptcy Filings

    Even under the best of circumstances, navigating thru a Chapter 11 bankruptcy filing can be stressful and fraught with uncertainty for all involved. Add in the disruptive effects of COVID-19, and it’s easy to appreciate the daunting task facing bankruptcy courts, debtors, creditors, and their lawyers. The pandemic has challenged many industries and as the economy has worsened through the pandemic, declaring bankruptcy has become the only lifeline left, and, given the ongoing economic uncertainties, a successful Chapter 11 reorganization has become all the more important.

    This webinar will address steps that can be taken to protect a creditor’s interests before and immediately after a bankruptcy filing by a customer, client, or counterparty to an agreement. The panelists will discuss the recommended actions to be taken:

    • Upon establishment of creditor-debtor relationship
    • When a customer/client appears to be in financial distress
    • Upon notice of bankruptcy filing

    When: Thursday, January 28, 2021

    10:00 – 11:00 a.m.

    Register for Norris McLaughlin, Attorneys at Law, Legal Events in New Jersey, New York, and Pennsylvania

    Although questions will be taken at the conclusion of the webinar, we strongly encourage you to submit questions in advance to be sure we address your specific needs. Please submit your questions by 1:00 p.m., Wednesday, January 27, 2021, via email to marketing@norris-law.com with “BANKRUPTCY WEBINAR” in the subject line.

    About Your Attorney Panelists

    Melissa Peña

    Melissa concentrates her practice on commercial litigation and bankruptcy and creditors’ rights. Her clients include financial institutions, private lenders, creditors, and accounting firms. She has successfully represented secured creditors and unsecured creditors in Chapter 11 bankruptcy cases and state court insolvency proceedings. Melissa frequently handles commercial foreclosure actions, actions to enforce promissory notes and guarantees, lien priority disputes, fraudulent conveyance actions, and creditor enforcement matters. She has also defended accounting firms in disputes regarding alleged failure to detect criminal and fraudulent activity in the state and federal courts of New Jersey and New York.

    Outside the courtroom, Melissa handles commercial workouts, negotiating forbearance agreements on behalf of lenders and troubled cross-border transactions. She frequently represents investors seeking to acquire defaulted loans from the due diligence stage to closing on the sale. Melissa also helps lenders to liquidate their collateral through UCC sales, including sales of co-ops. In connection with her participation in the firm’s cross-border practice, she represents clients concerning inbound and outbound transactions that require working with government agencies such as the U.S. Office of Foreign Asset Control and U.S. Customs and Border Protection.

    Jerry Gallagher

    Jerry engages in civil trial and appellate practice with a concentration in commercial litigation, creditors’ rights, construction, contract litigation, and commercial accounts receivable matters. He also provides legal services related to contract drafting and negotiations. Jerry serves as New Jersey counsel to several national companies and represents private businesses in several industries, including cosmetics, retail packaging, computer support, and specialty concrete products.

    Jerry’s more significant results for clients include: an appellate affirmance of a trial court’s dismissal of “spoliation of evidence” claims against a national financing company; a jury verdict dismissing claims against a national real estate developer for alleged violations of New Jersey’s Consumer Fraud Act; prosecuting fraud claims against an insurance broker on behalf of a premium finance company, resulting in a seven-figure money judgment; a jury verdict in favor of a commercial equipment leasing company including dismissal of “lender liability” counterclaims; dismissal of Consumer Fraud Act and punitive damages claims brought against a privately owned electronic parts testing company; domesticating foreign judgments; recovering payments on surety bonds posted to stay post-judgment collection proceedings pending appeal; obtaining numerous monetary judgments in favor of financial institutions and businesses on commercial loan and accounts receivable claims; and regularly represents contractors in residential and commercial construction disputes, lien claims and commercial collection actions.

    Bruce Wisotsky

    Bruce has represented debtors, creditors’ committees, equity committees, trustees, landlords, and other individual creditors in Chapter 11 and 7 bankruptcy proceedings in New Jersey, New York, Delaware, Florida, and other jurisdictions. He has also represented assignees for the benefit of creditors in state court insolvency proceedings. A significant portion of Bruce’s practice has involved out-of-court restructurings, either as counsel to companies and individuals experiencing financial difficulties or their creditors.

    Bruce lectures on various bankruptcy issues before the New Jersey Institute for Continuing Legal Education, the Turnaround Management Association, and the Essex County Bar Association. He has addressed topics including prosecution and defense of preference actions, treatment of tax claims in bankruptcy proceedings, executory contract issues, and retention bonus issues. Bruce is included in The Best Lawyers In America in the Bankruptcy Litigation and Bankruptcy and Creditor-Debtor Rights Law sections and New Jersey Super Lawyers in the Bankruptcy & Creditor/ Debtor Rights section. He was also named the Best Lawyers Bankruptcy Litigation “Lawyer of the Year” in the Woodbridge, New Jersey, Metro Area in 2020, 2018, and 2016.

    Posted in: Bankruptcy & Creditors' Rights, Bruce J. Wisotsky, Events, Jerome F. Gallagher, Jr., Melissa Anne Peña | Tags: , , ,

  • May 27, 2020Bruce Wisotsky Present to Medical Practice Management on COVID-19 Financial Impact and Bankruptcy

    Bruce J. Wisotsky, a Member of law firm Norris McLaughlin, P.A., will present the free webinar, “The Financial Impact of COVID-19: Bankruptcy 101,” at noon on Friday, May 29, for the New Jersey Medical Group Management Association and eight other state Medical Group Management Associations.

    “COVID-19 has brought on significant financial hardships to small businesses, including medical practices. In the face of a practice’s substantially reduced income and mounting debt, it’s helpful to be educated on avenues of business preservation,” said Wisotsky.

    For more topics related to the coronavirus, visit the firm’s Coronavirus (COVID-19) Preparedness Resource Center or its Coronavirus Thought Leadership Connection.

    About the COVID-19 Financial Impact

    Ros and Wisotsky will discuss the different bankruptcy chapters available to businesses, the recently enacted Small Business Reorganization Act, and the impact of the CARES Act on the ability to obtain bankruptcy relief, with an emphasis on the availability of those laws on medical and other professional practices. They will also answer participants’ questions. For more information about the NJMGMA, visit njmgma.com.

    About Bruce Wisotsky

    Wisotsky, a member of the Bankruptcy & Creditors’ Rights Law Practice Group, represents debtors, creditors’ committees, equity committees, trustees, landlords, secured and unsecured creditors in Chapter 11 and 7 bankruptcy proceedings. He has litigated a wide variety of bankruptcy and commercial issues during his career inclusive of contract and lien validity disputes, actions to recover preferential transfers, fraudulent conveyance claims, and non-dischargeability of debt actions.

    Wisotsky has also lectured on various bankruptcy issues before the New Jersey Institute for Continuing Legal Education, Turnaround Management Association, and the Essex County Bar Association. He has addressed topics including prosecution and defense of preference actions; treatment of tax claims in bankruptcy proceedings; and retention bonus issues. Wisotsky is a member of the New Jersey Regional Advisory Board of the Anti-Defamation League, the American Bankruptcy Institute, and the Turnaround Management Association. He is also on the United States Bankruptcy Court’s approved list of mediators.

    Wisotsky received his J.D. in 1978 from Temple University School of Law and his B.A., magna cum laude, in 1975 from Temple University.

    Posted in: Bankruptcy & Creditors' Rights, Bruce J. Wisotsky, Health Care & Life Sciences, News | Tags: , ,

  • May 26, 2020The Financial Impact of COVID-19: Bankruptcy 101

    Bruce J. Wisotsky, a Members of law firm Norris McLaughlin, P.A., will present the free webinar, “The Financial Impact of COVID-19: Bankruptcy 101,” for the New Jersey Medical Group Management Association and eight other state Medical Group Management Associations.

    About the COVID-19 Bankruptcy Webinar

    Discussion topics will include:

    • How the CARES Act has raised the debt ceiling for small businesses
    • Different chapters of bankruptcy
    • Sub-Chapter V rules in the Small Business Reorganization Act
    • Which chapter of bankruptcy may be appropriate for medical practices experiencing financial hardships caused by COVID-19
    • What factors must be considered when determining whether to file for bankruptcy

    When: Friday, May 29, 2020

    noon – 1:00 p.m.

    Registration: njmgma.net

    About Bruce Wisotsky

    Bruce represents debtors, creditors’ committees, equity committees, trustees, landlords, secured and unsecured creditors in Chapter 11 and 7 bankruptcy proceedings. He has litigated a wide variety of bankruptcy and commercial issues during his career inclusive of contract and lien validity disputes, actions to recover preferential transfers, fraudulent conveyance claims, and non-dischargeability of debt actions. Bruce has also lectured on various bankruptcy issues before the New Jersey Institute for Continuing Legal Education, Turnaround Management Association, and the Essex County Bar Association. He has addressed topics including prosecution and defense of preference actions; treatment of tax claims in bankruptcy proceedings; and retention bonus issues.

    Posted in: Bankruptcy & Creditors' Rights, Bruce J. Wisotsky, Events, Health Care & Life Sciences | Tags: , ,

  • Apr 09, 2019Bruce Wisotsky Speaks on Asset Protection for Physicians

    Bruce J. Wisotsky, a Member of law firm Norris McLaughlin, P.A., presented “Asset Protection for Physicians: Prescriptions for Preservation of Wealth” at the New Jersey Chapter of the American College of Surgeons 2019 Socio-Economic Meeting, Saturday, April 6, at the Renaissance Woodbridge Hotel and Conference Center in Iselin.

    Wisotsky discussed asset protection, creditors’ rights, and best practices to protect physician’s practices and personal assets if unforeseen creditors come looking to collect. For more information, please click here.

    About Bruce Wisotsky

    Wisotsky represents debtors, creditors’ committees, equity committees, trustees, landlords, and secured and unsecured creditors in Chapter 11 and 7 bankruptcy proceedings.  He has litigated a wide variety of bankruptcy and commercial issues during his career inclusive of contract and lien validity disputes, actions to recover preferential transfers, fraudulent conveyance claims, and non-dischargeability of debt actions.

    Wisotsky has also lectured on various bankruptcy issues before the New Jersey Institute for Continuing Legal Education, Turnaround Management Association and the Essex County Bar Association.  He has addressed topics including prosecution and defense of preference actions, treatment of tax claims in bankruptcy proceedings, and retention bonus issues.  He is also on the United States Bankruptcy Court’s approved list of mediators.

    Wisotsky is a member of the New Jersey Regional Advisory Board of the Anti-Defamation League, the American Bankruptcy Institute, and the Turnaround Management Association.  He also served as an officer and counsel to Help Darfur Now, a non-profit corporation which raised funds to purchase food and medical supplies for refugees in the Darfur region of Sudan.  Wisotsky received his B.A. and J.D. degrees from Temple University and Temple University School of Law.

    Posted in: Bankruptcy & Creditors' Rights, Bruce J. Wisotsky, Health Care & Life Sciences, News | Tags: , ,

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