Scarinci Hollenbeck Partner Joel N. Kreizman Secures $3.5+ Million Judicial Award on Behalf of Client
Red Bank, NJ – October 16, 2019 – Scarinci Hollenbeck Partner Joel N. Kreizman recently obtained a judicial decision awarding $3.5+ million to his client, Ryan Lurch. Decided before the Superior Court of New Jersey, this award is more than double of what was originally offered before Scarinci Hollenbeck was retained in the matter.
“We are very pleased with this result. Following years of litigation, it was rewarding for both my client and me to achieve this outcome,” stated Mr. Kreizman.
Ryan Lurch is the administrator of the estate of his father, Joseph Lurch, who died in an accident in July 2014. Joseph and his brother, Douglas Lurch, owned three businesses together: Lertch Recycling, Lertch Disposal and Lertch Wrecking. The brothers also owned a large piece of property in Wall Township, NJ, upon which their businesses operated. The estate in question was entitled to Joseph Lurch’s share of the businesses and the property. Additionally, when Joseph died, he was also entitled to compensation from the businesses for the 7 months that he had been working before his death. Joseph Lurch’s brother, Douglas, submitted a buy-out contract to his nephew, Ryan Lurch, to purchase the estate of Joseph’s interest. However, Ryan believed the valuations were too low and sought counsel from Joel Kreizman.
The ensuing trial was held before the Hon. Linda Grasso-Jones, J.S.C. of the Superior Court of New Jersey, Monmouth County. The trial, in addition to the opinion, centered around valuations of the businesses and the property wherein the businesses operate. Ultimately, the Hon. Linda Grasso Jones, J.S.C. accepted the valuations provided by Scarinci Hollenbeck counsel and Ryan Lurch’s witnesses as well as the legal bases for those valuations. Judge Jones rejected the valuations provided by the witnesses and counsel of Douglas Lurch and awarded Joseph Lurch’s estate the compensation the deceased was entitled to from 2014. The Court awarded the Estate approximately $2.6 million, which is currently due and double the amount offered by Douglas Lurch before Scarinci Hollenbeck was retained. This sum, coupled with required payments over the next five years plus interest, brings the amount awarded to $3.5-3.6 million.
About Joel N. Kreizman
Joel N. Kreizman, Partner, concentrates his practice in Commercial Litigation and Trust & Estate Litigation. As a litigator, he frequently appears in Federal Court and in the Chancery Division of the State Courts. He is the former chairman of the Federal Practice Committee of the Monmouth Bar Association and was the Chairman of the Chancery Practice Committee of that Association from 2000-2010. Additionally, he served as a Judge of the Ocean Township Municipal Court for eleven and a half years and was named to SuperLawyers for 2011-2018.
You can learn more about Joel N. Kreizman at: https://scarincihollenbeck.com/attorneys/joel-n-kreizman/