Jennifer M. Marcus

Special Counsel

New Brunswick, NJ
120 Albany Street Plaza
6th Floor
New Brunswick, NJ 08901
P 732.448.2580 F 732.846.8877
P 732.448.2580 F 732.846.8877

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Experience

Jennifer Marcus has close to two decades of civil litigation experience in the State and Federal Courts of New York and New Jersey with a primary focus in the representation of financial institutions. Her representation includes the aggressive pursuit of creditor rights in both commercial and residential foreclosures, bankruptcies, garnishment proceedings, and in defense of various State and Federal banking and/or consumer protection laws (including TILA, RESPA, FDCPA, EFTA, FCRA, claims under the Uniform Commercial Code, lender liability, and consumer fraud). She has also defended some of largest national banks in the country in arbitration before the AAA.

Jennifer has significant experience handling complex matters, including contested loan default matters with various collateral liquidation, UCC sales, claims involving the setting aside of fraudulent transfers, preferences, title claims, priority disputes, and corporate insolvency proceedings. In the bankruptcy context, she has also obtained favorable results for lender clients by objecting to Chapter 11 plans, moving for stay relief, and in the prosecution of adversary proceedings arising from borrower fraud.

She has also documented notes, security agreements, mortgages, related loan documents as well as modifications, extensions and forbearance agreements. When possible, Jennifer favors utilizing detailed and thorough contracts to facilitate collection for clients prior to the commencement of costly and/or protracted litigation.

Representative Matters of Note

TD Bank, N.A. v. Talia Properties, Inc., 973 N.Y.S.2d 789 (2d Dep’t 2013). Appellate Division, Second Department reversed the Supreme Court’s denial of a deficiency judgment against an individual guarantor under RPAPL 1371, and remanded the matter back to Supreme Court for entry of the appropriate judgment. The Court held that a judgment of foreclosure and sale entered against a defendant is final as to all questions at issue between the parties and all matters of defense which were or could have been litigated in the foreclosure action.
New Millennium Bank v. Tashan Corp., Index No. 601369/2019 (Sup. Ct., Nassau County 2021). Successfully moved for leave to commence foreclosure action of secondary real estate collateral (the guarantor’s home) under RPAPL 1301 upon Chapter 7 discharge of all guarantors and proof that corporate assets had value too nominal to repossess, notwithstanding that final judgment had been entered on the note and guaranty agreement. The favorable ruling led to the listing and sale of the home and the local banking client was paid in full.
Valley National Bank v. Ashkenazi, 14-18942-CMG (U.S.B.C. Dist.N.J. 2015). In jointly administered adversary proceedings against guarantors for conversion of collateral and various frauds under the bankruptcy code, summary judgment was entered in favor of federally chartered bank denying the discharges being sought under Chapter 7 for failure to produce records, concealment of a business interest, and income. Following the favorable ruling, an installment payment order was obtained under the law division docket in which the bank’s judgment had originally been obtained to compel the guarantors and/or the third party that had been concealing income to make monthly payments to the bank.
Valley National Bank v. JB Properties of Burlington, MID-L-3055-11 (Middlesex County Law. Div. 2021). Guarantor’s application to stay execution and for fair market value credit was denied in a State Court commercial collection action. The guarantor unsuccessfully argued to the Court that the Judgment should be reduced to zero due to payments made under the auspices of a Chapter 11 plan for the corporate borrower and the foreclosure and sale of commercial real estate collateral. The Court held that there was no entitlement to a fair market value in a commercial matter and that the bank had given the guarantor credit for the Chapter 11 payments and the net sale proceeds of the real estate. The guarantor also failed to submit proof in admissible form to show that he was entitled to anything further.
The Estate of Barry Gimelstob v. Holdel Financial Services, Inc., MRS-L-1762-19 (Morris County Law. Div. 2019). Successfully obtained pre-answer dismissal of an amended complaint filed by a judgment creditor against local bank for aiding and abetting fraudulent transfer and claims under the Uniform Fraudulent Transfer Act. The underlying claim was for breach of contract and the plaintiff /judgment creditor was seeking to attach commission from insurance sales of the defendants (local bank’s borrower). The local bank was able to demonstrate that the income stream from insurance sales had already been pledged to the bank long before the judgment creditor’s claims arose and no new money was lent by local bank in subsequent refinancing of debt. The Court found that because there was sufficient consideration for the pledge and all security interests of the bank, the judgment creditor was not able to state an actionable claim against the local bank.
New Millennium Bank v. Staten Island Power Sports, Index No. 150875/2013 (Sup. Ct., Richmond Cty. 2017). In a heavily contested garnishment proceeding against an oral surgeon, the Court ordered monthly installment payments to local bank, based upon a demonstration of imputed income, after confirming the report of a court-appointed referee following the examination of the judgment debtor under oath. The referee made findings favorable to the local bank after proof was submitted that the judgment debtor had made his personal expenses from his practice and had concealed income utilizing the bank account of a relative.

Academia

Pace International Law Review
Clinical Legal Education Assocation, Outstanding Clinical Student Award
Federal Judicial Extern Honors Program
Law Trustee Scholarship
Alpha Sigma Lambda National Honor Society

Practices

Education

J.D., cum laude, Dean's List, Pace University School of Law, 2004
B.A., Dean's List, Rutgers University, 2001

Admissions

New Jersey (2004)
New York (2005)
United States District Court for the District of New Jersey
United States District Court for the Eastern District of New York
United States District Court for the Southern District of New York
United States Bankruptcy Court, District of New Jersey
United States Bankruptcy Court, Eastern District of New York
United States Bankruptcy Court, Southern District of New York