Case number: 2:22-bk-14539 - National Realty Investment Advisors LLC - New Jersey Bankruptcy Court

Case Information
  • Case title

    National Realty Investment Advisors LLC

  • Court

    New Jersey (njbke)

  • Chapter

    11

  • Judge

    John K. Sherwood

  • Filed

    06/07/2022

  • Last Filing

    03/25/2026

  • Asset

    Yes

  • Vol

    v

Docket Header
Complex, LEAD, CLMAGT, REDACTEDMLGLIST, ADVERSARY, CONFIRMED, AnsFiled



U.S. Bankruptcy Court
District of New Jersey (Newark)
Bankruptcy Petition #: 22-14539-JKS

Assigned to: Judge John K. Sherwood
Chapter 11
Voluntary
Asset


Date filed:  06/07/2022
Plan confirmed:  08/10/2023

Debtor

National Realty Investment Advisors LLC

1 Harmon Plaza
9th Floor
Secaucus, NJ 07094
HUDSON-NJ
Tax ID / EIN: 20-5923100

represented by
Daniel Harris

Cole Schotz P.C.
Court Plaza North
25 Main Street
Hackensack, NJ 07601
201-525-6202
Email: dharris@coleschotz.com

Gregory Kopacz

Sills Cummis & Gross, PC
One Riverfront Plaza
07102
Newark, NJ 07102
973-643-7000
Email: gkopacz@sillscummis.com

Riker Danzig LLP

Headquarters Plaza, 1 Speedwell Avenue
Morristown, NJ 07962-1981

Joseph L. Schwartz

Riker, Danig, Scherer, Hyland, Perretti
Headquarters Plaza
One Speedwell Ave
Morristown, NJ 07960
(973) 538-0800
Email: jschwartz@riker.com

Sills Cummis & Gross P.C.

One Riverfront Plaza
Newark, NJ 07102

S. Jason Teele

Sills Cummis & Gross P.C.
The Legal Center
One Riverfront Plaza
Newark, NJ 07102
973-643-4779
Email: steele@sillscummis.com

U.S. Trustee

U.S. Trustee

US Dept of Justice
Office of the US Trustee
One Newark Center Ste 2100
Newark, NJ 07102
(973) 645-3014

represented by
David Gerardi

DOJ-Ust
U.S. Department of Justice
Office of the U.S. Trustee
One Newark Center, Ste 2100
Newark, NJ 07102
973-645-3014
Email: david.gerardi@usdoj.gov

Alexandria Nikolinos

U.S. Department of Housing and Urban Development
The Strawbridge Building, 12th Floor
801 Market Street
Ste Orc
Philadelphia, PA 19107
215-430-6633
Email: Alexandria.M.Nikolinos@hud.gov

Fran B. Steele

U.S. Department of Justice
Office of the US Trustee
One Newark Center
Suite 2100
Newark, NJ 07102-5504
(973) 645-3014
Fax : (973) 645-5993
Email: Fran.B.Steele@usdoj.gov

Creditor Committee

The Official Committee of Unsecured Creditors


represented by
Nathan Basalyga

ICE MILLER LLP
1500 Broadway, Suite 2900
New York, NY 10036
212-835-6312

Jessa DeGroote

Ice Miller LLP
One American Square
Suite 2900
Indianapolis, IN 46282
317-236-2356
Email: jessa.degroote@icemiller.com

Louis T. DeLucia

Ice Miller LLP
1500 Broadway
Suite 2900
New York, NY 10103
212-835-6312
Fax : 212-835-6322
Email: louis.delucia@icemiller.com

Alyson M. Fiedler

Ice Miller LLP
1500 Broadway
Suite 2900
New York, NY 10036
212-835-6315
Email: alyson.fiedler@icemiller.com

Ice Miller LLP

1500 Broadway
Suite 2900
New York, NY 10036
212-835-6312

Michael Ott

ICE MILLER LLP
200 West Madison Street, Suite 3500
Chicago, IL 60606
312-726-7103
Email: michael.ott@icemiller.com

Daniel Polatsek

ICE MILLER LLP
200 West Madison Street, Suite 3500
Chicago, IL 60606
312-726-6245
Email: daniel.polatsek@icemiller.com

Creditor Committee

Ice Miller LLP


represented by
Louis T. DeLucia

(See above for address)

Creditor Committee

Alvarez & Marsal North America, LLC
represented by
Louis T. DeLucia

(See above for address)

Latest Dockets

Date Filed#Docket Text
03/27/2026Pro Hac Vice Payment has been made to the US District Court in the amount of $250.00. Receipt Number 53770. (related document:[4295] Order on Application to Appear Pro Hac Vice). (rah)
03/25/20264295Order Granting Application To Allow Attorney Blair M. Rinne to Appear Pro Hac Vice. (Related Doc # [4290]). Service of notice of the entry of this order pursuant to Rule 9022 was made on the appropriate parties. See BNC Certificate of Notice. This order has been mailed to the Treasurer of the New Jersey Lawyer's Fund for Client Protection via US mail. Signed on 3/25/2026. (zlh)
03/20/20264294Transcript regarding Hearing Held 03/18/26 (related document:[4230] Order (Generic), [4244] Motion (Generic) filed by Creditor AIRN Liquidation Trust). The transcript may be viewed at the Bankruptcy Court Clerk's Office. For information about how to contact the transcriber, call the Clerk's Office. Notice of Intent to Request Redaction Deadline Due By 3/27/2026. List of Items to be Redacted Due By 04/10/2026. Redacted Transcript Submission Due By 04/20/2026. Remote electronic access to the transcript will be restricted through 06/18/2026. (J&J Court Transcribers)
03/18/2026Minute of Hearing Held and Continued. (related document:4230 AMENDED CONSENT ORDER AND STIPULATION ON AIRN LIQUIDATION TRUST ADVISORY BOARDS MOTION TO ENFORCE LIQUIDATION TRUST AGREEMENT WITH RESPECT TO THE RETENTION AND PAYMENT OR REIMBURSEMENT OF ALL REASONABLE FEES AND EXPENSES INCURRED BY THE ADVISORY BOARDS INDEPENDENT COUNSEL. (related document:4199). Service of notice of the entry of this order pursuant to Rule 9022 was made on the appropriate parties. See BNC Certificate of Notice. Signed on 8/26/2025. ). Service of notice of the entry of this order pursuant to Rule 9022 was made on the appropriate parties. See BNC Certificate of Notice. Signed on 12/4/2025.) Hearing scheduled for 04/10/2026 at 10:00 AM, JKS - Courtroom 3D, Newark. (mff)
03/18/2026Minute of Hearing Held and Continued. (related document:4244 Motion re: ENTRY OF ORDER APPROVING UPDATED COMPENSATION PACKAGE Filed by Louis T. DeLucia on behalf of AIRN Liquidation Trust. Hearing scheduled for 1/27/2026 at 10:00 AM, JKS - Courtroom 3D, Newark.. (Attachments: # 1 Exhibit A to Motion # 2 Proposed Order # 3 Declaration of J. Richard Budd # 4 Exhibit A to Declaration of J. Richard Budd # 5 Exhibit B to Declaration of J. Richard Budd # 6 Exhibit C to Declaration of J. Richard Budd # 7 Exhibit D to Declaration of J. Richard Budd # 8 Exhibit E to Declaration of J. Richard Budd # 9 Exhibit F to Declaration of J. Richard Budd # 10 Exhibit G to Declaration of J. Richard Budd) Filed by Creditor AIRN Liquidation Trust) Hearing scheduled for 04/10/2026 at 10:00 AM, JKS - Courtroom 3D, Newark. (mff)
03/18/20264293Opposition to (related document:[4244] Motion re: ENTRY OF ORDER APPROVING UPDATED COMPENSATION PACKAGE Filed by Louis T. DeLucia on behalf of AIRN Liquidation Trust. Hearing scheduled for 1/27/2026 at 10:00 AM, JKS - Courtroom 3D, Newark.. (Attachments: # 1 Exhibit A to Motion # 2 Proposed Order # 3 Declaration of J. Richard Budd # 4 Exhibit A to Declaration of J. Richard Budd # 5 Exhibit B to Declaration of J. Richard Budd # 6 Exhibit C to Declaration of J. Richard Budd # 7 Exhibit D to Declaration of J. Richard Budd # 8 Exhibit E to Declaration of J. Richard Budd # 9 Exhibit F to Declaration of J. Richard Budd # 10 Exhibit G to Declaration of J. Richard Budd) filed by Creditor AIRN Liquidation Trust) filed by Amit Parekh. (dlr)
03/17/20264292Document re: Liquidation Trustee's Response to the Advisory Board's March 17, 2026 letter requesting that the Court strike the Liquidation Trustee's reply submission or adjourn the March 18, 2026 hearing (related document:[4291] Document filed by Other Prof. AIRN Liquidation Trust Advisory Board) filed by Louis T. DeLucia on behalf of AIRN Liquidation Trust. (DeLucia, Louis)
03/17/20264291Document re: Letter Regarding Untimely Submission of Supplemental Papers Regarding AIRN Liquidation Trust Advisory Board's Motion to Enforce Liquidation Trust Agreement (related document:[4129] Motion to Seal filed by Other Prof. AIRN Liquidation Trust Advisory Board, [4135] Motion (Generic) filed by Other Prof. AIRN Liquidation Trust Advisory Board) filed by Margreta Morgulas on behalf of AIRN Liquidation Trust Advisory Board. (Morgulas, Margreta)
03/17/20264290Application for Attorney Blair M. Rinne to Appear Pro Hac Vice Filed by David J. Molton on behalf of AIRN Liquidation Trust, Ice Miller LLP. Objection deadline is 3/24/2026. (Molton, David)
03/16/20264289AIRN Liquidation Trust Advisory Board's Supplemental Opposition to Motion of the Liquidation Trustee and Wind-Down CEO for Entry of Order Approving "Updated" Compensation Package for all Employees and Executives of Wind-Down Entities in Opposition to (related document:[4244] Motion re: ENTRY OF ORDER APPROVING UPDATED COMPENSATION PACKAGE Filed by Louis T. DeLucia on behalf of AIRN Liquidation Trust. Hearing scheduled for 1/27/2026 at 10:00 AM, JKS - Courtroom 3D, Newark.. (Attachments: # 1 Exhibit A to Motion # 2 Proposed Order # 3 Declaration of J. Richard Budd # 4 Exhibit A to Declaration of J. Richard Budd # 5 Exhibit B to Declaration of J. Richard Budd # 6 Exhibit C to Declaration of J. Richard Budd # 7 Exhibit D to Declaration of J. Richard Budd # 8 Exhibit E to Declaration of J. Richard Budd # 9 Exhibit F to Declaration of J. Richard Budd # 10 Exhibit G to Declaration of J. Richard Budd) filed by Creditor AIRN Liquidation Trust, [4274] AIRN LIQUIDATION TRUST ADVISORY BOARDS OPPOSITION TO MOTION OF THE LIQUIDATION TRUSTEE AND WIND-DOWN CEO FOR ENTRY OF ORDER APPROVING UPDATED COMPENSATION PACKAGE FOR ALL EMPLOYEES AND EXECUTIVES OF WIND-DOWN ENTITIES in Opposition to (related document:[4244] Motion re: ENTRY OF ORDER APPROVING UPDATED COMPENSATION PACKAGE Filed by Louis T. DeLucia on behalf of AIRN Liquidation Trust. Hearing scheduled for 1/27/2026 at 10:00 AM, JKS - Courtroom 3D, Newark.. (Attachments: # 1 Exhibit A to Motion # 2 Proposed Order # 3 Declaration of J. Richard Budd # 4 Exhibit A to Declaration of J. Richard Budd # 5 Exhibit B to Declaration of J. Richard Budd # 6 Exhibit C to Declaration of J. Richard Budd # 7 Exhibit D to Declaration of J. Richard Budd # 8 Exhibit E to Declaration of J. Richard Budd # 9 Exhibit F to Declaration of J. Richard Budd # 10 Exhibit G to Declaration of J. Richard Budd) filed by Creditor AIRN Liquidation Trust) filed by Margreta Morgulas on behalf of AIRN Liquidation Trust Advisory Board. (Attachments: # 1 Exhibit AB-1 Budd Consulting Agreement # 2 Exhibit AB-2 January 12, 2026 Email and Withheld Exhibit D Attachment # 3 Exhibit AB-3 Budd December 2, 2025 Email and Dempsey Compensation Plan # 4 Exhibit AB-4 Liquidation Trust Agreement # 5 Exhibit AB-5 August 18, 2025 Fierro Email and Budd/Wind-Down Personnel Compensation Plan # 6 Exhibit AB-6 September 4, 2025 Letter # 7 Exhibit AB-7 September 29, 2025 Fierro Email and Dempsey Engagement Letter # 8 Exhibit AB-8 October 10, 2025 Letter # 9 Exhibit AB-9 Fierro December 24, 2025 Email # 10 Exhibit AB-10 October 16, 2025 DeLucia Letter # 11 Exhibit AB-12 December 11, 2025 Letter # 12 Exhibit AB-13 January 6, 2026 Email # 13 Exhibit AB-14 December 18, 2025 Email # 14 Exhibit AB-15 Fierro December 19, 2025 Email # 15 Exhibit AB-16 December 23, 2025 Email) filed by Other Prof. AIRN Liquidation Trust Advisory Board, [4285] Document re: REPLY IN SUPPORT OF MOTION FOR ENTRY OF ORDER APPROVING UPDATED COMPENSATION PACKAGE (related document:[4244] Motion (Generic) filed by Creditor AIRN Liquidation Trust) filed by Louis T. DeLucia on behalf of AIRN Liquidation Trust. (Attachments: # 1 Exhibit A # 2 Exhibit B) filed by Creditor AIRN Liquidation Trust) filed by Margreta Morgulas on behalf of AIRN Liquidation Trust Advisory Board. (Attachments: # (1) Exhibit Exhibit AB-17 # (2) Exhibit Exhibit AB-18 # (3) Exhibit Exhibit AB-19) (Morgulas, Margreta)