Joseph L. Schwartz, Chair of the Firm's Bankruptcy & Corporate Restructuring Group, co-authored the article, "Guardianship in Subchapter V Chapter 11 Bankruptcy: A Case Study," which was published by the Turnaround Management Association's Journal of Corporate Renewal. The piece examines the complex intersection of subchapter V bankruptcy, guardianship, and receivership proceedings through the Arbah Hotel Corp. bankruptcy case, which was filed in New Jersey, detailing how Joe, serving as the subchapter V trustee, helped facilitate a complex resolution among competing parties while navigating, among other things, corporate authority and other challenges. The case involved the bankruptcy of a shuttered New Jersey hotel whose equity was primarily owned by an incapacitated individual in a New York guardianship proceeding. The case study demonstrates the critical value of subchapter V trustees in complex reorganizations, as Joe successfully orchestrated a $24 million asset sale that significantly exceeded the property's $9 million appraised value, and involved multi-party disputes across multiple court systems.
