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Lowenstein Sandler LLP

Joseph J. DiPasquale

Joseph J. DiPasquale

Partner

Expertise

  • Bankruptcy, Financial Reorganization & Creditors' Rights
  • Real Estate

WSG Practice Industries

Activity

WSG Leadership

WSG Coronavirus Task Force Group
Member

Lowenstein Sandler LLP
New Jersey, U.S.A.

Profile

Joe's practice encompasses corporate restructuring, complex bankruptcy, debtor/creditor rights, corporate transactions, and commercial litigation. He has extensive experience working with clients in a wide range of industries, including health care, hospitality, energy, real estate, retail, transportation, manufacturing, and finance.

For more than two decades, Joe has built a strong record of success serving as lead counsel, trusted advisor, strategist, and fiduciary in high-stakes insolvencies. He represents debtors, creditors’ committees, Chapter 11 and 7 trustees, receivers, assignees, equity holders, secured creditors, private equity/hedge funds, and other parties. Clients describe Joe as “seasoned,” “polished,” and a "talented lawyer" who demonstrates "a strong balance of technical skill, practicality, and business sense" and offers “creative solutions” (Chambers USA).

From 2009 to 2014, Joe served on the managing board of directors of Team Capital Bank (TCB) and chaired the bank’s risk committee. He was involved in the June 2014 merger of TCB into Provident Financial Services (Provident Bank), a publicly traded company. From 1994 through 1997, he was a principal of NJ Lenders Corp., one of the largest mortgage banking firms in New Jersey. In 1994, he was appointed to the New Jersey Criminal Disposition Commission by Governor James Florio.

Joe is frequently invited to speak before legal and industry organizations, a testament to his deep knowledge of bankruptcy and tax matters. He is the coauthor of the “Retention and Compensation” chapter of the New Jersey Bankruptcy Manual and served as editor of the New Jersey State Bar Association Bankruptcy Law Section Newsletter.

Committed to his community, Joe is a director on the board of Cornerstone Family Programs & Morristown Neighborhood House. He previously served on the board of directors of the New Jersey Friends of Roger Williams School of Law Foundation as well as the fundraising committee of the Community FoodBank of New Jersey.

After completing law school, Joe served as the law clerk for the Hon. William F. Tuohey of the U.S. Bankruptcy Court for the District of New Jersey.

Bar Admissions

    New Jersey
    New York
    District of Columbia
    U.S. District Court for the District of New Jersey
    U.S. District Court for the Southern District of New York
    U.S. District Court for the Eastern District of New York
    U.S. Court of Appeals for the Third Circuit
    U.S. Court of Appeals for the District of Columbia Circuit

Education

Widener University Commonwealth Law School (J.D. 1994)
University of Padua, School of Law (1992), European Economic Community Law
Muhlenberg College (B.A. 1990)
Areas of Practice

Bankruptcy, Financial Reorganization & Creditors' Rights | Business Litigation | Real Estate

Professional Career

Significant Accomplishments

Debtor Representations:

Gracious Home and certain of its affiliates. Served as chapter 11 counsel to one of New York City’s most well-known retailers of high-end housewares and home furnishings, with multiple locations.

Hudson Healthcare, Inc. Served as chapter 11 counsel for HHI, which had over $120 million in annual revenues, several hundred contracts and leases, and over 1,400 employees and physicians, in its successful 363 sale which preserved over 1,200 jobs and relieved the City of Hoboken of its guarantee of over $52 million in bonds.

Frank Theatres and affiliates. Served as chapter 11 counsel of high-end movie theater company with over 20 locations in multiple states in successful confirmation of plan of reorganization.

Kara Homes, Inc. and its 54 affiliates. Served as lead special bankruptcy transactional counsel to Kara, which prior to chapter 11 generated $300 million in revenues and was one of New Jersey’s largest home builders, and negotiated with 16 separate senior lenders involving the successful private and public 363 sales of multiple residential developments and DIP financing which ultimately lead to the confirmation of Kara’s plan of reorganization.

Creditors' Committee Representations:

Hygea Holdings Corp. Successfully negotiated formation of creditors’ trust, which includes various causes of action, five percent equity in the reorganized debtors, and funding for the trust. Hygea owned multiple medical practices and asserted approximately $200 million in debt.

New England Motor Freight, Inc. Successfully negotiated a settlement with NEMF’s insiders and equity holders that resulted in a recovery in excess of $6 million for creditors and assisted in the 363 sale of two NEMF subsidiaries, which lead to confirmation of joint plan of liquidation. NEMF was a motor freight company with 3,745 employees, 1,500 tractors, 5,596 trailers, and 36 trucking terminals and was a leading “less-than-truckload” carrier with a focus on the Mid-Atlantic, Midwest, and Northeast United States, held “the largest rolling stock auction of the last decade.” As committee counsel, worked with all parties to resolve two WARN Act class action claims that resulted in settlement payments to the former employees. 

Orchids Paper Products Company. A publicly traded national supplier of high quality paper consumer tissue products.

Mountain Creek Resorts, Inc. A four-season hotel resort located in Vernon, New Jersey with 167 skiable acres on four mountain peaks along with a 25 acre waterpark.

East Orange General Hospital. Successfully challenged and enhanced the original 363 sale and subsequently represented the liquidating trustee, which resulted in a dividend of 45 percent to general unsecured creditors.

Other Representations:

Represents one of the “Big Four” auditors and international accounting firms in retention and fee-related issues on a national level.

Served as the chapter 11 trustee for 71 Clinton, Inc. Consummated the 363 sale of an apartment building located in the Lower East Side of Manhattan for approximately $16 million, by resolving certain environmental and other issues complicating the transaction.

Served as independent director of The Chia Co.

Published Decisions:

In re: Skyworks Ventures, Inc. 431 B.R. 573 (Bankr. D.N.J.  2010). Successful dismissal of involuntary petition filed against debtor in bad faith and award of attorneys’ fees, costs, and punitive damages.



Professional Associations

American Bankruptcy InstituteAssociation of Insolvency & Restructuring AdvisorsBoard of Directors, Old Dominion National BankBoard of Trustees, Association of the Federal Bar of New JerseyChair, Bankruptcy Court Committee of the Association of the Federal Bar of New JerseyFellow, Litigation Counsel of AmericaNational Association of Bankruptcy TrusteesNew York Institute of CreditTurnaround Management Association


Professional Activities and Experience

Accolades
  • Chambers USA: America's Leading Lawyers (2017-2020) - Joseph DiPasquale
  • LexisNexis AV Preeminent - Joseph DiPasquale
  • The Best Lawyers in America - Joseph DiPasquale
  • New Jersey Super Lawyers Top 100 - Joseph DiPasquale
  • New Jersey Super Lawyers - Joseph DiPasquale
  • THE M&A ADVISOR'S 14th ANNUAL TURNAROUND AWARDS

Articles

When Financial Stress Turns to Distress–Restructuring Tools to Avoid Disaster Parts 1 and 2: Chapter 11 Checklist and What Else Is in the Toolbox
Lowenstein Sandler LLP, April 2020

When Financial Stress Turns to Distress–Restructuring Tools to Avoid Disaster Parts 1 and 2: Chapter 11 Checklist and What Else Is in the Toolbox In this Client Alert series, Lowenstein’s Bankruptcy, Financial Reorganization & Creditors’ Rights Department will introduce the various restructuring tools available to help businesses avoid financial catastrophe in the current environment...

Sears (MOAC v. Transform): Landlord May Rest (Adequately) Assured of ‘Similar’ Financial Condition and Operating Performance, But Not Necessarily Tenant Mix
Lowenstein Sandler LLP, March 2020

A recent decision from the United States District Court for the Southern District of New York (the District Court) in the bankruptcy cases of Sears Holdings Corp. may loom large in a day and age when shopping mall operators are seeking creative alternatives to the traditional, retail-oriented anchor-store business model. The Bankruptcy Code (via 11 U.S.C...

Blogs

Big Thoughts/Quick Reads Antitrust Blog
Lowenstein Sandler LLP 

Triggered by current issues or by long-settled issues that we think need to be unsettled and reconsidered

Capital Markets Litigation
Lowenstein Sandler LLP 

Litigation News for the Global Financial Community

WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

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