Jerrold S. Kulback

Jerry has more than 25 years of experience in commercial restructuring, insolvency and matters arising from debtor-creditor relationships. His clients include lenders, landlords, consignment vendors, trade creditors, equipment lessors, equity holders, and appointed receivers and trustees. He advises them on disputes and transactions involving distressed debt, with a focus on understanding their business objectives and identifying practical ways to resolve difficult situations.

His creditors’ rights work includes commercial mortgage and tax lien foreclosures, enforcement of UCC Article 9 remedies, replevin actions, accounts receivable collections, and disputes over lien priority and intercreditor rights. Jerry also handles lender liability claims, fraud and fraudulent transfer litigation, and preference and other avoidance actions. In matters where a negotiated or transactional approach may be appropriate, his experience encompasses out-of-court workouts, loan restructurings, forbearance and deed-in-lieu of foreclosure agreements, distressed asset and loan sales, receiverships, and pendente lite sales.

Jerry represents clients throughout the United States in federal, bankruptcy and state courts, at both the trial and appellate levels, as well as in arbitration and mediation. His work includes pursuing and defending claims, protecting collateral interests, and navigating multi-party restructurings. The matters he handles span real estate, hospitality, construction, healthcare, transportation, warehousing, retail, and food and beverage.

Jerry approaches these matters with attention to both legal remedies and their practical consequences. He works closely with clients to assess their needs, evaluate the available options and pursue a response suited to the circumstances, recognizing that a legal solution is not always the best business solution.

• Represented consignment vendors in large retail bankruptcy cases. Negotiated provisions in the DIP financing orders and sale orders protecting the consignment vendors’ interests in the goods which remained in the possession of the debtor.
• Represented a bridge lender in a commercial mortgage foreclosure action involving over $15 million in loans secured by eighteen residential income producing and mixed-use properties. Successfully and rapidly liquidated the collateral through pendente lite sales, while simultaneously defending against claims by junior creditors challenging the validity and priority of the client’s mortgages based upon allegations of fraud by the borrower.
• Represented a regional bank in a commercial mortgage foreclosure action involving a branded hotel, after discovering that the borrower was absconding with revenue. Successfully petitioned the court for appointment of a receiver, while concurrently having the borrower’s claims against the lender dismissed with prejudice.

• Represented an accounts receivable factor, and was able to procure a lucrative settlement during arbitration against the borrower’s account debtor who had initially refused to pay anything on the construction receivable.
• Appointed by the Superior Court of New Jersey as a special master and receiver-in-aid of execution.

• Rutgers University School of Law, JD
• Franklin & Marshall College, BA

• New Jersey
• Pennsylvania

• New Jersey State Bar Association
• Camden County Bar Association – Debtor/Creditor Committee
• Turnaround Management Association (TMA)
• Risk Management Association of Southern New Jersey – Secretary
• Rutgers School of Law – Bankruptcy Pro Bono Project

• “Ethical Issues Arising from the Representation of Multiple Parties in a Chapter 11 Bankruptcy,” 19th Annual Hon. William H. Gindin Bankruptcy Bench-Bar Conference (March 2017)