Joseph R. McCarthy is a Shareholder in Stark & Stark’s Banking & Financial Services Group. As a commercial litigator specializing in creditors’ rights with over 20 years’ experience, Joseph represents state and nationally chartered financial institutions, private lenders, investment companies, landlords, receivers, and other creditors in a variety of legal matters including mortgage and tax foreclosures, bankruptcies, collections, workouts, receiverships, and landlord/tenant matters. In the course of his litigation work, Joseph has gained valuable experience negotiating and drafting complex forbearance and settlement agreements, loan restructurings, and deeds in lieu of foreclosure. He also represents both purchasers and sellers of defaulted loans and loan pools including the negotiation and drafting of loan sale agreements, conducting due diligence, and drafting the bill of sale and assignment documents.
Joseph also has extensive experience representing lending institutions in commercial lending transactions in both New Jersey and New York, including acquisitions, construction financing, asset-based loans, and loan modifications, and representing investors and developers in a broad range of commercial real estate matters including real property transactions, commercial leasing, and property management.
Joseph received his law degree from New York Law School and was twice published in the New York Law School’s Journal of Human Rights. After graduating law school, Joseph served as an Assistant Prosecutor with the Union County Prosecutor’s Office where he specialized in criminal jury trials. A devoted father of three (3) teenagers, Joseph enjoys spending time with his family and coaching softball, baseball, and basketball.
Representative Experience
*Results may vary depending on your particular facts and legal circumstances*
- Represented a statutory receiver appointed in a civil action brought by the NJ Bureau of Securities against an individual and several companies that perpetrated a multi-million Ponzi scheme in the Ocean County, NJ area. Assisted the receiver in the recovery of monies for the defrauded creditor estate through the prosecution of fraudulent transfer litigation and the liquidation of real estate and personal property.
- Represented the former owners of a well-known wedding and banquet hall in Berkeley Heights, NJ in connection with a quiet title action involving a dispute over land with Union County and the State of New Jersey which resulted in a consent judgment that enabled the client to convey clear and insurable title to its purchaser.
- Represented financial institution in highly contested commercial foreclosure action of a partially completed townhome project including defending client from fraud claims, filing a motion for pendente lite sale of the real estate which ultimately resulted in the liquidation of project and payment in full to client.
- Represented financial institution in connection with a $5.3 million construction loan to build a new children’s school at a Muslim temple in Somerset, New Jersey that closed during the height of the COVID-19 Pandemic in 2020.
*Results may vary depending on your particular facts and legal circumstances*
