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Vice Chair, Bankruptcy & Restructuring Department
Jeffrey Prol provides strategic guidance and cutting-edge solutions to clients in crisis. He brings over 30 years of experience to his work in matters involving debtor/creditor rights, including complex business transactions and litigation, corporate restructuring, business consulting, out-of-court workouts, and foreclosures. His practice encompasses the representation of unsecured creditor committees, debtors, secured creditors, and other parties, including landlords, lessors, guarantors, and equity holders in high-profile cases under all chapters of the U.S. Bankruptcy Code.
Jeffrey has broad experience representing unsecured creditor committees in numerous industries with a particular focus on chemicals, foods, metals, paper, and mass torts. His recent committee engagements include NBG Home, Gold Standard Baking, Southeastern Metals, NORPAC Foods, Fibrant LLC, and Yueting Jia. With significant experience in mass tort-related matters, Jeffrey represents companies with asbestos liabilities in Chapter 11 bankruptcy cases and out-of-court workouts and has served as counsel to the Official Committees of Asbestos Claimants in the Chapter 11 bankruptcies of GI Holdings Inc., f/k/a GAF Corp., Burns & Roe Enterprises, and The Muralo Company.
In the Diocese of Camden (New Jersey) case, Jeffrey represented the Official Committee of Tort Claimant Creditors in negotiating a settlement on behalf of more than 300 survivors of childhood sexual abuse, where the Diocese agreed to pay $87.5 million in cash—the second largest cash payment by any Catholic diocese in bankruptcy to-date—and assign its insurance rights to a trust for the benefit of survivors.
Jeffrey is currently serving as counsel to the Official Committee of Tort Claimant Creditors in the Roman Catholic Bishop of Oakland (California) Chapter 11 bankruptcy case filed in the United States Bankruptcy Court for the Northern District of California. The Committee is comprised of 9 survivors of sexual abuse.
Jeffrey also speaks frequently on bankruptcy issues at various conferences and credit group meetings.
Representation of creditors’ committees in NBG Home, Appvion Paper, CST Industries, Frank W. Kerr, Noranda Aluminum, Protostar Ltd., Memorex/Telex Corporation, Tandycrafts, Inc., Vectour, Inc., Cenargo International, Inc.
Representation of official creditors' committee in Chapter 11 bankruptcies of integrated poultry producers, Zacky Farms LLC, Townsends, Inc., Allen's Family Foods, Inc. and Cagle's Inc., as well as integrated hog producer as Agfeed USA.
Representation of asbestos claimants committees in G-I Holdings, Inc. (successor to GAF Corporation), Burns and Roe Enterprises, Inc., The Muralo Company, and Hercules Chemical Corp.
Representation of a nationwide homebuilder in a successful Chapter 11 reorganization.
Recognized in the Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law section
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Rutgers Law School (J.D. 1989)
United States Merchant Marine Academy (B.S. 1985), with honors
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