In the Media

In this article, Kenneth A. Rosen, a partner at the Roseland-based law firm Lowenstein Sandler PC, played a prominent role as the chair of the 13th Annual Jewish Law Symposium. The event, moderated by Rabbi Shalom Lubin of Chabad of Morris County, focused on exploring ethical and moral dilemmas faced by attorneys in New Jersey. The symposium, held at Birchwood Manor in Whippany, drew nearly 800 participants and delved into topics such as religious tolerance, immigration, defending challenging clients, and the obligation to provide pro-bono legal services. Kenneth Rosen welcomed the participants and set the stage for the evening, which included a pre-Rosh Hashanah shofar blast by Rabbi Lubin. The featured presenter was New Jersey Supreme Court Associate Justice Barry T. Albin, who spoke about the ethical lessons that can be derived from the beloved musical "Fiddler on the Roof." Justice Albin discussed the themes of tradition, change, and the role of public support in altering entrenched traditions. Rabbi Lubin introduced a panel of legal experts, who explored ethical challenges related to tradition while referencing scenes from the 1971 movie version of "Fiddler on the Roof." The discussion covered topics such as work-life balance, breaking traditions within law firms, and the defense of individuals deemed repugnant. The symposium provided an opportunity for legal professionals to network, enjoy a kosher dinner, and earn continuing legal education credits in ethics. The event, now in its 13th year, has become a tradition-filled evening, with each year featuring a unique theme developed by Rabbi Lubin and an advisory board of attorneys from prominent New Jersey firms. The symposium contributes to the legal community's understanding of ethical issues through the lens of both civil and talmudic law.

Kenneth A. Rosen comments to CNBC on the changing approach to bankruptcy by retailers, explaining that the 2005 changes to the U.S. Bankruptcy Code shortened the timeline for a sale or reorganization before a retailer was pushed into liquidation and that a new market of liquidators now competes to run retailers’ going-out-of-business sales. “There is no patience for a protracted reorganization anymore,” he says. “Chapter 11 is too darn expensive, and I think lenders have alternatives to a long-term Chapter 11 that are better.”

Lowenstein Sandler has been recognized as a prominent force in corporate bankruptcy, earning a position among the top ten "power players" in a decade-long analysis by The Wall Street Journal. The study focused on companies with assets exceeding $500 million that sought bankruptcy protection, revealing the firm's substantial influence. The analysis showcased Lowenstein Sandler's extensive experience, with the firm appearing for either the debtor or the official creditors’ committee in almost two-thirds of major cases. This acknowledgment aligns with the broader trend of a select group of law firms, including Lowenstein, shaping the landscape of corporate bankruptcy. Kenneth A. Rosen, Chair of the Bankruptcy & Restructuring Department, emphasized the firm's commitment to providing creative and practical solutions. The recognition underscores Lowenstein Sandler's strategic growth success, as it remains one of the nation's fastest-growing law firms, according to recently released American Lawyer data.

Lowenstein Sandler’s role as legal counsel to Aceto Corporation in its Chapter 11 bankruptcy filing and in the proposed $338 million sale of its chemical business assets to New Mountain Capital is highlighted in Bankrupt Company News, MarketWatch, GlobeNewswire, Markets Insider, StreetInsider.com, and EIN Presswire. The firm’s role as legal counsel in Aceto’s sale of subsidiary Rising Pharmaceuticals, Inc. is noted in The Associated Press and MarketScreener.com. (Lowenstein team: Kenneth A. Rosen, Steven E. Siesser, Paul Kizel, Michael S. Etkin, Jeffrey Cohen, Wojciech F. Jung, Philip J. Gross, Michael Savetsky, and Michael Papandrea.) (subscription required to view certain content) View Lowenstein’s news announcement about this transaction.

Lowenstein Sandler's involvement as legal counsel to Aceto Corporation in its Chapter 11 bankruptcy filing and the proposed $338 million sale of its chemical business assets to New Mountain Capital is prominently featured in various media outlets, including Bankrupt Company News, MarketWatch, GlobeNewswire, Markets Insider, StreetInsider.com, EIN Presswire, MarketScreener.com, and the Global Legal Chronicle. The firm's role in Aceto's sale of subsidiary Rising Pharmaceuticals, Inc. is also acknowledged in The Associated Press, MarketScreener.com, and the Global Legal Chronicle. The legal team from Lowenstein, including Kenneth A. Rosen, Steven E. Siesser, Paul Kizel, Michael S. Etkin, Jeffrey Cohen, Wojciech F. Jung, Philip J. Gross, Michael Savetsky, and Michael Papandrea, played a crucial role in these transactions. (Note: Certain content may require a subscription to view.) For more information, refer to Lowenstein's news announcements on this representation dated March 18, 2019, and May 13, 2019.

Infosurhoy (November 21, 2018), Chron (October 29, 2018), The Seattle Times (October 25, 2018), The Vindicator (October 25, 2018), The Associated Press (October 25, 2018), the New York Post (October 11, October 14, October 16, and October 24, 2018), and Bloomberg Quint (October 17, 2018) quote Kenneth A. Rosen in several articles exploring the aftermath of Sears Holdings Corp.’s bankruptcy and the continued attempts by former Sears CEO Eddie Lampert to avoid liquidation. Rosen comments on the state of Sears’ current financing and on the highly public manner in which Sears' assets were sold to Lampert’s hedge fund, ESL Investments.

The New York Post quotes Kenneth A. Rosen in an October 11, 2018, article about Sears’ potential bankruptcy and CEO Eddie Lampert’s aim of avoid a corporate liquidation by bidding on Sears’ remaining assets. Rosen notes that, while some bankruptcies are designed to secure a court’s permission to sell assets to someone inside the company, he believes Sears may be in liquidation within the next few months. In the Post's October 14, 2018, article announcing Sears' October 15, 2018, Chapter 11 bankruptcy filing and noting Lampert's bid to keep several hundred stores open, Rosen states that some of the stores may currently be successful and that Lampert likely knows which ones they are. The Post quotes Rosen again in an October 16, 2018, piece reporting on the retailer's efforts to reassure vendors that the company has the financing to pay for new merchandise supplied to Sears' stores. Rosen notes that such reassurances may no longer resonate with vendors.

USA Today, The Daily Journal, My Central Jersey, CBS19, and MonroeNow quote Kenneth A. Rosen on his role in a charitable team effort to purchase a large Geoffrey the Giraffe statue from the corporate headquarters of bankrupt retailer Toys “R” Us and install it at Bristol-Myers Squibb Children’s Hospital in New Brunswick, New Jersey. Rosen donated funds to cover the cost of installing the statue at the hospital. The Atlanta Journal-Constitution, New Brunswick Patch, and FiOS1 News also cover the story.

Fortune, Bloomberg, Bloomberg Quint, Bloomberg's Distressed Daily newsletter, FMT News, ATT.net, Fatherly, The Morning Call, Holmdel Patch, New Brunswick Patch, and MSN quote Kenneth A. Rosen on his role in a charitable team effort to purchase a large Geoffrey the Giraffe statue from the corporate headquarters of bankrupt retailer Toys “R” Us and install it at Bristol-Myers Squibb Children’s Hospital in New Brunswick, New Jersey. Rosen, who donated funds to cover the cost of installing the statue at the hospital, stated that he believed it would provide sick children with a significant mental health boost. Bloomberg Law - Big Law Business, edplay, Chain Store Age, and The Columbian mention Rosen in briefer descriptions of this project.

The Global Legal Chronicle highlights Lowenstein Sandler’s selection as legal counsel to represent Gibson Brand’s Official Committee of Unsecured Creditors in its Chapter 11 bankruptcy proceedings. The article notes that the Lowenstein team is led by Jeffrey Cohen and Kenneth A. Rosen and includes Wojciech F. Jung, Andrew David Behlmann, Scott Cargill, and Keara Waldron. Lowenstein’s Delaware co-counsel on the engagement is Adam Landis of Landis Rath & Cobb LLP.

Kenneth A. Rosen comments in Turnarounds & Workouts regarding the judge’s rejection of a potential bidder’s demand for a negotiating fee in the Chapter 11 bankruptcy liquidation of Bon-Ton Stores. Citing time limits under the U.S. Bankruptcy Code, Rosen claimed there were issues which prevented the retailer from being able to reorganize.