Help Clients 'Continue to Achieve Business Goals,' Porzio Bankruptcy Team Says
"Overall, it is always most satisfying when we identify ways to help our clients overcome financial challenges so that they can continue to achieve their business goals."
June 10, 2019 at 06:03 PM
3 minute read
In 2018 the bankruptcy and financial restructuring department of Porzio, Bromberg & Newman in Morristown represented, among others: Garces Group (chef Jose Garces) and related entities in Chapter 11 proceedings in Camden federal bankruptcy court, leading to an acquisition and reduction in debt; American Gaming & Electronics in Chapter 11 proceedings in the same court, working to get its reorganization plan confirmed quickly; and the committee of unsecured creditors in the Chapter 11 case of Miami International Medical Center in federal bankruptcy court for the Southern District of Florida.
**The responses were provided by Warren Martin Jr., partner and co-chair of the bankruptcy and financial restructuring department.**
What were some of your most satisfying successes of 2018, and why?
We had such a great year helping our clients, that it's hard to say what was most satisfying. Overall, it is always most satisfying when we identify ways to help our clients overcome financial challenges so that they can continue to achieve their business goals.
What recent economic factors have affected your practice area?
There are always multiple economic forces at play when it comes to bankruptcy and restructuring work. Industries that are evolving, markets that are changing, and technological advancement are always indicators that we keep an eye on. Industry-specific developments in health care, manufacturing, and retail have affected many of our clients.
Amid a changing market for legal services, what does it take to become a trusted transactional lawyer in New Jersey?
It takes a proven track record for results and a client-friendly approach. We love our clients and we go the extra mile to understand what they need. We look for nuances within specific industries and develop best practices so that we can proactively make recommendations that have proven to be effective time after time.
A prospective client in crisis calls and asks why your team should be retained. What is your answer?
The bankruptcy and restructuring team at Porzio offers clients the best of all worlds. Clients love working with us because as a midsize firm we are small enough to be flexible, client focused, and able to make quick decisions that have positive impacts on our clients. Yet, we are large enough that our work compares with that of an Am Law 100 firm in terms of bench strength, strategic approach, and industry knowledge that leads to easier resolutions.
Dealmakers are extraordinarily busy people. What does the firm do to ensure that they remain engaged with pro bono work, their communities and their families?
Porzio provides a tremendous amount of support and flexibility so that even the busiest teams at the firm can achieve great results for the clients while obtaining a balance between life and work. The firm fosters community service opportunities and pro bono work by compensating attorneys for their community service and pro bono hours as part of the compensation structure to promote balance. The firm also encourages telecommuting and flexible work arrangements to allow teams to manage their time and be as productive as possible.
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