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Sheila E. Calello
Alternate image for Sheila E. Calello

Sheila E. Calello

Partner

Chair, Bankruptcy & Commercial Litigation Practice

973.639.6931
Newark
scalello@mccarter.com

Sheila Calello leverages more than 25 years of experience helping lenders and other clients recover funds during both robust and difficult economic times.

Chair of the firm’s Bankruptcy & Commercial Litigation Practice, Sheila protects creditors’ rights, including handling workouts, state and federal court commercial litigation, foreclosures, defensive litigation, loan sales, forbearance agreements, and bankruptcy matters. She has addressed numerous types of commercial claims involving all types of commercial properties and collateral.

Sheila’s extensive experience gives her insight into the unique business needs and objectives of her clients. She has developed long-lasting relationships with her clients who rely on her counsel concerning collecting or restructuring their troubled loans or protecting their interests, including advising on lender liability claim prevention.

Sheila’s appellate work includes having co-written the briefs and participated in the lender’s appeal in In re Jason Realty before the Third Circuit Court of Appeals, which established a lender’s outright entitlement to rents under an assignment of rents. She also participated in preparing amicus briefs before the New Jersey Supreme Court, including a challenge to the Appellate Division’s holding as to when the statute of limitations begins to run under the actual fraud provisions of the New Jersey Fraudulent Transfer Act.

A frequent lecturer and writer, Sheila has spoken on a variety of subjects related to enforcement of remedies, loan collection, and bankruptcy-related issues. Her published writings include “Jason Realty: The End of Single Asset Reorganizations?” on lender’s rights under an assignment of rents published in the New Jersey Debtor Creditor Newsletter and an article in the Seton Hall Law School Constitutional Law Journal on the Eighth Amendment and proportionality review.

Representative Matters

Special servicers—Foreclosure and sale

Representation of special servicers in collection of securitized loans and achieving recoveries through foreclosures and property sales, or restructuring debt.

National bank—Non-dischargeability action

Represented a lender in the bankruptcy proceedings of its borrower and guarantor and obtained summary judgment in the non-dischargeability adversary proceeding against the guarantor, resulting in a substantial settlement payment to the bank.

National Football League (NFL) team—Subpoena response

Represented an NFL football team in response to a subpoena and defense of threatened preference/fraudulent transfer claims in the bankruptcy proceeding of In re National Events Holding, LLC.

Commercial lender—Collection actions 

Representing a commercial lender in collecting a $16 million loan from non-obligor sources based on causes of action of fraud, conversion, and accountant malpractice.

Grocery wholesaler—Multi-loan recovery litigation

Secured a full recovery on $7 million in loans made by our grocery wholesaler client to a borrower within a contested state court litigation that required navigating a forbearance agreement and the borrower selling some assets.

Commercial bank—Multi-forum loan recovery litigation

Representing a commercial bank in litigation to collect a $5 million Small Business Administration loan made to a bankrupt construction company. The litigation involves liquidation of more than 400 pieces of machinery and equipment, four foreclosure actions, and multiple collection actions against guarantors.

Highlights

Recognitions

Best 50 Women in Business, <em>NJBIZ</em>, 2016
Best 50 Women in Business, NJBIZ, 2016

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Services

Transportation, Logistics & Supply Chain Management
Creditors’ Rights
Bankruptcy, Restructuring & Litigation
Bankruptcy
Bankruptcy Litigation
Appellate
Financial Institutions
Healthcare
Impact Investing

Education

Seton Hall University School of Law JD, summa cum laude, 1991
Carnegie-Mellon University BS, 1985

Bar Admissions

New Jersey
Pennsylvania

Court Admissions

U.S. District CourtSouthern District of New York

Memberships & Affiliations

Commercial Real Estate Finance Council (formerly CMSA)
Member

National Association of Women Lawyers

American Bar Association

New Jersey State Bar Association

Insights News Contract Signing
Events|Webinar
Managing Chaos in the Era of Loan Defaults: What Lenders and Borrowers Need to Know
Turnaround Management Association
9.29.2020
Insights News Contract Signing
Publications|Alert
Get It in Writing
Bankruptcy & Restructuring Alert
6.7.2018
Insights News Contract Signing
News|Press
McCarter & English Assisted Naturalization Applicants in Partnership with the American Friends Service Committee
4.5.2017
Insights News Newspaper Stack
News|Press
McCarter Attorneys Help International Rescue Committee
McCarter Press Release
1.6.2017
Insights Awards Top Stars
News|Recognition
Best 50 Women in Business: The Class of 2016
NJBIZ
3.22.2016
Insights Speaking Microphone 2
Events|Speaking Engagement
Getting Somewhere: Using Diversity to Advance and Retain Talent
NJ Bankers Association: Women in Banking Conference
6.5.2014
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