Karl J. Norgaard
Top Rated Bankruptcy Attorney in Englewood, NJ
Selected to Rising Stars: 2014 - 2019
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About Karl J. Norgaard
First Admitted: 2004, New Jersey
Professional Webpage: https://www.norgaardfirm.com/About/Karl-J-Norgaard.shtml
Other Outstanding Achievements
- Served as Council Member in Borough of Leonia. In that capacity I also served as Police Commissioner, Fire Comissioner and Chair of Laws and Ordinace Committee.
Pro bono/Community Service
- Volunteer Lawyers for Social Justice; Trustee of the New Jersey Bankruptcy Lawyers Foundation (NJBLF.com)
- Closed real estate transactions with value of over $30,000,000. Negotiated Note purchases and continued foreclosure matters both in New Jersey and New York. Represted debtors as well as creditors in all aspects of chapter 7, 11 and 13 matters.
- Represented Freddie Mac and Fannie Mae in volume bankruptcy practice; now represents community banks and private lenders as well as hedge funds.
- Bergen County Bar Association; Bankruptcy Bar Asociation; Federal Bankruptcy Inn of Court- Barrister (leads lecture topics)
- Evaluate applications in nonprofit entity; Client Coice Award from AVVO (See VVO Profile for more informaiotn) especially regarding client reviews., Trustee NJ Bankruptcy Lawyer's Foundation
- , Super Lawyer, Thompson Reuters, 2021
- AV Preeminent, Martindale Hubbel, 2021
- St. Joseph Regional High School, 2nd in class, 1997
- Seton Hall Law School, J.D., 2004
- Rutgers College, B.A., 3.91 GPA, 2001
- Prevailed in below matter:CONTRACTS | REAL ESTATENew Alliance, LLC v. Lin, Superior Court Chancery Division, Judge DeLuca. The parties entered a purchase agreement in which plaintiff Krikor Kalfayan agreed to purchase real property from defendants, for a purchase price of $1.9 million with $100,000 payable within one year of the agreement date and the balance by the following year. Kalfayan agreed to pay real estate taxes and provide liability and fire insurance; the parties agreed to split rent income through closing. Several years later in 2015, defendant and plaintiff One New Alliance entered into an agreement to purchase the property, with the agreement stating that ONA's members included plaintiff Kalfayan and Amrish Patel. The 2015 agreement stated that the purchase price was $1.7 million, with $170,000 paid at execution, $340,000 paid at closing, and the balance paid by mortgage . The property was to be sold "as is." Plaintiffs filed a breach of contract action; in response, defendants filed a landlord-tenant action against plaintiffs. The parties later reached a settlement, which acknowledged that the purchase price of the property was $1.7 million, with a $85,000 to be paid within five days, $435,000 at closing, and the balance by mortgage. Past real estate taxes were to be paid by plaintiffs. The parties later purported to negotiate a second revised settlement which defendants did not execute. Defendants contended that defendant Pai-Chaun Lin and his counsel did not have authority to bind defendants to the second settlement. The court found that defendants' counsel was authorized to conduct revised settlement negotiations. The court ruled that plaintiffs and their counsel were justified in presuming that defense counsel was also authorized to enter into settlement on behalf of defendants. Thus, the court ruled that plaintiffs' acceptance of defense counsel's proposed revised settlement created an enforceable contract. [Filed May 19, 2021], 2021
Last Updated: 5/15/2022