Jeffrey M. Sklarz
Jeff Sklarz practices at the intersection of bankruptcy law and tax law — the corner of the field most lawyers try to avoid, and the corner where much of the actual money in business insolvency lives. He represents debtors, creditors, committees, and trustees in Chapter 11 cases and adversary litigation across Connecticut and New York, and he handles the commercial litigation that surrounds contested restructurings.
His recognition includes selection as Best Lawyers® 2022 Lawyer of the Year for Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law (New Haven), inclusion in the Best Lawyers in America 2021 edition, and Fellow status in the American College of Tax Counsel. He has been named to the New England Super Lawyers list for Business Litigation continuously since 2010.
The combination of a bankruptcy litigator and a tax lawyer in one seat is what allows Jeff to structure Chapter 11 plans that resolve IRS and DRS liabilities alongside secured and unsecured debt.
- Chapter 11 debtor and creditor representation
- Bankruptcy litigation and adversary proceedings
- Tax controversy — civil and Tax Court
- Commercial and creditor/debtor litigation
Jeff regularly serves as counsel in "bet the company" financial matters, is a frequent writer and lecturer on bankruptcy and tax topics, and is a co-founder of the New England IRS Representation Conference.
Financial Restructuring & Bankruptcy
- Counsel to debtors-in-possession across industries including finance, real estate, aerospace, medical devices, construction, hospitality, manufacturing, and energy
- Counsel to unsecured creditors committees, liquidating custodians, and liquidation trustees in reorganization and post-confirmation matters
- Counsel to ad hoc creditor committees in bankruptcy proceedings and out-of-court restructurings
- Counsel to debtors in out-of-court workouts
- Prosecution and defense of preference, fraudulent transfer, and avoidance actions
- Counsel to Chapter 7 trustees in litigation, avoidance actions, and asset sales
Tax Litigation
- Resolution of criminal tax investigations and civil tax controversies, including trials in U.S. Tax Court
- FBAR penalty litigation: obtained a January 2021 Connecticut District Court summary-judgment ruling, on an issue of first impression, that the non-willful FBAR penalty is capped at $10,000 per form rather than per account
- Anikeev v. Commissioner (U.S. Tax Court, February 2021): ruling that credit-card rewards points were not taxable income to the taxpayers
- Abatement of employment tax penalties assessed against a company on account of internal fraud by its controller
- Abatement of federal excise tax penalties for a major fuel installation
- Resolution of Connecticut sales tax liability for an out-of-state consulting firm
- Workout and resolution of tax shelter matters
Commercial Litigation
- Civil trials, including jury trials, in state and federal courts
- Defense of an independent trustee in a three-month jury trial involving trusts and business holdings
- Defense of an apparel business in a month-long jury trial
- Prosecution and defense of fraudulent transfer matters
- Defense of a commercial lessee establishing significant case law on damage-mitigation requirements in commercial leasing
- Counsel to note holders in litigation involving improper use of "personal goodwill" as an asset-protection tool