Jonathan Rabinowitz

While practicing in business insolvencies in all types of industries, including manufacturing and retail, Mr. Rabinowitz has a special concentration in real estate reorganizations. He argued the seminal case in the Court of Appeals for the Third Circuit concerning assignments of rents in real estate Chapter 11 proceedings, Jason Realty. In Jason Realty, the Third Circuit Court of Appeals held that an assignment of rents under New Jersey law was an absolute assignment, rather than a collateral assignment. If a debtor with income from the rental of real property defaulted pre-petition on the bank debt secured by the assignment of rents, the rents belonged to the bank and could not be used by the debtor in its post-petition operations or to fund a plan of reorganization. This holding had a significant impact on the reorganization of real estate chapter 11 debtors.Mr. Rabinowitz also has extensive experience in all aspects of healthcare restructuring, including hospitals, group medical practices, and nursing homes. He represented the State of New Jersey in various healthcare matters including the NJ HIP liquidation. In the NJ HIP liquidation, administered by the New Jersey Chancery Court in Middlesex County, New Jersey HIP's managing agent filed bankruptcy in the Bankruptcy Court for the District of Delaware. Notwithstanding the bankruptcy, Mr. Rabinowitz was able to have the assets of the company brought within the jurisdiction of the New Jersey Chancery Court for administration, thereby facilitating a more orderly liquidation while insuring continued healthcare for over 25,000 New Jersey residents.Mr. Rabinowitz is an adjunct professor at Rutgers University School of Law in Newark, at which he teaches Bankruptcy, Business Associations, and Articles 2, 3, 4 and 9 of the Uniform Commercial Code, and is a former adjunct professor at the New York University paralegal program.