• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar

McCarter & English Logo

  • People
  • Services
  • Insights
  • Our Firm
    • Leadership Team
    • Social Justice
    • Diversity, Equity & Inclusion
    • Pro Bono
    • Client Service Values
    • Alumni
  • Join Us
    • Lawyers
    • Summer Associates
    • Patent Professionals
    • Professional Staff
    • Job Openings
  • Locations
    • Boston
    • Philadelphia
    • East Brunswick
    • Indianapolis
    • Stamford
    • Hartford
    • Trenton
    • Miami
    • Washington, DC
    • New York
    • Wilmington
    • Newark
  • Share

Share

Browse Alphabetically:

  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • I
  • J
  • K
  • L
  • M
  • N
  • O
  • P
  • Q
  • R
  • S
  • T
  • U
  • V
  • W
  • X
  • Y
  • Z
  • All
Bankruptcy, Restructuring & Litigation
Blockchain, Smart Contracts & Digital Currencies
Business Litigation
Cannabis
Coronavirus Resource Center
Corporate
Crisis Management
Cybersecurity & Data Privacy
Delaware Corporate, LLC & Partnership Law
Design, Fashion & Luxury
E-Discovery & Records Management
Energy & Utilities
Environment & Energy
Financial Institutions
Food & Beverage
Government Affairs
Government Contracts & Global Trade
Government Investigations & White Collar Defense
Healthcare
Hospitality
Immigration
Impact Investing
Insurance Recovery, Litigation & Counseling
Intellectual Property
Labor & Employment
Life Sciences
Manufacturing
Products Liability, Mass Torts & Consumer Class Actions
Public Finance
Real Estate
Renewable Energy
Sports & Entertainment
Tax & Employee Benefits
Technology Transactions
Transportation, Logistics & Supply Chain Management
Trusts, Estates & Private Clients
Venture Capital & Emerging Growth Companies
  • Broadcasts
  • Events
  • News
  • Publications
  • View All Insights
Search By:
Insights News Contract Stack
Main image for NJ Firm’s Bankruptcy Estate Could Sue Insiders, Report Says
News|Quote

NJ Firm’s Bankruptcy Estate Could Sue Insiders, Report Says

Law360

11.8.2016

The bankruptcy estate of New Jersey foreclosure firm Zucker Goldman & Ackerman LLC may have grounds to sue its insiders over their interests in a separate company purportedly bankrolled by the firm’s funds, according to a report released Tuesday.

The startup and operation of 4S Technologies LLC, a company formed by Zucker Goldberg Managing Member Michael Ackerman, has whittled the amount the firm’s creditors can recover under its Chapter 11 plan, said the report by former U.S. Bankruptcy Judge Donald Steckroth of Cole Schotz PC, the bankruptcy examiner whom the creditors committee enlisted to investigate possible claims.

Ackerman formed 4S, a Zucker Goldberg affiliate that was funded by intercompany loans, in 2007. Three years later, Zucker Goldberg took a hit due to the “exponential” increase in the timelines of mortgage foreclosure proceedings and regulatory changes that impacted fee structures. The firm’s financials plummeted from $28 million in assets and $19.5 million in liabilities in 2009 to $9.3 million in assets and approximately $54.2 million in liabilities in 2015, according to the report.

The unsecured creditors committee is represented by David J. Adler and Matthew B. Heimann of McCarter & English LLP.

sidebar

pdfemail

Related People

Media item: David Adler
David Adler

Partner

Related Services

Bankruptcy Litigation
Subscribe to our Insights
McCarter & English, LLP
Copyright © 2023 McCarter & English, LLP. All Rights Reserved.
  • Login
  • Attorney Advertising
  • Privacy
  • Awards Methodology
  • Contact
  • Subscribe
  • Sitemap

The McCarter & English, LLP website is for informational purposes only. We do not provide legal advice on this website. We can provide legal advice only to our clients in specific inquiries that they address to us. If you are interested in becoming a client, please contact us, but do not send any information about your specific legal question. We cannot serve as your lawyers until we establish an attorney-client relationship, which can occur only after we follow procedures within our firm and after we agree to the terms of the representation.

Accept Cancel