Departments

Phone: 212.644.2092
Fax: 212.684.0197

Jason A. Nagi

Shareholder
Jason A. Nagi is a shareholder in Polsinelli Shughart PC’s Loan Enforcement and Bankruptcy and Restructuring practice groups.

Mr. Nagi regularly represents and advises national banks, loan servicers and individual note purchasers in commercial loan enforcement and real estate-related workouts, state court foreclosures and bankruptcy cases. Mr. Nagi has litigated lender liability, fraud and breach of contract claims, guarantee enforcement and disposition of collateral matters, claims under articles 3 and 4 of the Uniform Commercial Code, and contested valuations and claim settlements in bankruptcy court.

Mr. Nagi has counseled agent banks and lender constituencies in court supervised restructurings as well as out-of-court workouts and has acted as counsel to both secured lenders and borrowers in matters concerning debtor-in-possession financing, exit financing and plans of reorganization in New York and Delaware bankruptcy courts. In addition, Mr. Nagi has represented secured creditors in valuation disputes, formulation of pre-negotiated plans, lockup agreements, disputes concerning intercreditor agreements, receivership proceedings, debt purchases, adversary proceedings and claim disputes. Mr. Nagi also has extensive experience conducting internal investigations into allegations of anti-money laundering and USA PATRIOT Act violations and has defended numerous civil rights actions brought against the City of New York and its employees.

In addition to acting as primary counsel to the firm's clients in matters pending in New York and New Jersey, Mr. Nagi serves as local counsel and conflicts counsel for matters in New York and New Jersey courts.

Memberships and Affiliations

  • Association of the Bar of the City of New York
  • Turnaround Management Association
  • New York Institute of Credit

Experience


Bankruptcy

  • Represents businesses in distressed situations, including loan workouts.
  • Counseled various creditors in SIPA proceedings.
  • Counseled various potential debtor companies on insolvency issues.
  • Represented agent and majority second lien lenders holding more than $150 million of secured debt, in an out-of-court workout of a distressed, multi use property in Las Vegas, Nevada.
  • Represented agent bank for the first lien lenders in a Chapter 11 case in the Southern District of New York. Successfully defeated efforts by the debtor and junior lien holders to effect a cramup valuation of the agent’s collateral. Consensual plan of reorganization reached between first and second lien lenders.
  • Represented prepetition secured lenders, that were also DIP and exit financing lenders and became the equity owners of the reorganized national trucking company in the United States Bankruptcy Court for the District of Delaware.
  • On team that represented national certified air carrier in its orderly Chapter 11 liquidation in the United States Bankruptcy Court for the Southern District of Indiana.

Loan Enforcement and Litigation
  • Represented creditors in various avoidance actions and claim disputes.
  • Dismissal of claims against a national mortgage bank in an action alleging violation of the automatic stay, breach of contract and violation of various state statutes.
  • Represented national bank in enforcement action seeking recovery for defaulted loan.
  • Obtained judgment of over $1,750,000 on behalf of a national bank in action enforcement seeking recovery on guarantee of a defaulted loan.
  • Represented international financial institution in federal class action and action on behalf of individuals seeking judicial declaration that New York's attachment statute is unconstitutional as applied to electronically deposited social security funds.
  • Dismissal of all but one claim against international real estate services company in an action alleging breach of contract, fraud, breach of the implied duty of good faith and fair dealing and tortious interference with a business relationship. Settlement negotiated on remaining claim where payment was made entirely by co-defendants. 
  • Summary judgment confirming arbitration panel’s award of interim security in the amount of $900,000 in favor of international insurance company and dismissal of action seeking to overturn award based on lack of due process.
  • Dismissal of action alleging fraud, breach of fiduciary duty, unfair improper debt collection practices and various state statutory violations against financial institution.
  • Jury verdict on behalf of City of New York and its employees in an action alleging use of excessive force and other civil rights violations.

Publications & Presentations

April 2010
The Bankers Forum on Distressed Properties & Real Estate Loan Workouts
March 2010
ABI Asset Sales Committee Newsletter, Volume 7, Number 2
2001