Hill Wallack LLP Firm News/Blogs Feed

A Celebration of Life - Rocky Peterson

21 Mar 2025

Rocky Peterson, former partner with the Princeton, New Jersey law firm of Hill Wallack and former Law Director under Mayor Douglas Palmer of Trenton, passed away on Sunday, March 16, 2025 at home.

The son of military veterans, Rocky spent his formative years in Kaiserslautern, Germany and El Paso, Texas before relocating to East Orange, New Jersey. He graduated from East Orange High School in 1970, receiving a full academic scholarship to Cornell University where he received both his undergraduate and juris doctorate degrees.

Rocky commenced his legal career in state government, first with the Administrative Office of the Courts and later with the Division of Criminal Justice. Upon joining Hill Wallack in 1983, he represented municipalities, school districts, community colleges and other public entities, eventually heading the firm’s School Law and Municipal Law Practice Groups, during which he also served eight years as the Law Director for the City of Trenton.

Rocky was well-respected by his colleagues. He was a member of numerous bar associations, including the New Jersey State Bar Association, where he was a founding member of the Minorities in the Profession Section. He also served twelve years on the Supreme Court Disciplinary Review Board, including two years as its Chair. In addition, Rocky was an active member of the Trenton Alumni Chapter of Kappa Alpha Psi. He also previously served on several boards, including Crossroads Theatre in New Brunswick and Crossroads of the American Revolution in Trenton.

In 2018, at age 67, Rocky suffered two serious strokes within a two-week time frame. With the intervention of Congresswoman Bonnie Watson-Coleman and Robert Ross, Esq., Rocky was admitted to what was then Magee Rehabilitation Hospital in Philadelphia. Under the direction of Dr. Brian Kucer and his rehabilitation team, Rocky defied the prognosis, immediately following his second stroke that he likely had four months to live. Although completely paralyzed, with only the ability to communicate by blinking, he learned to speak, text, and email through eye gaze with the Tobii Dynavox assistive device. He was able to continue reading books on Kindle and keep up with local and world events through various media. Rocky regained some mobility in his limbs with intensive physical therapy, which enabled him to use his stationary bicycle and to operate his power wheelchair with his head. Magee, whose philosophy is to “Believe In a Way Back”, continued to provide rehabilitation therapy to Rocky as an outpatient.

Rocky was predeceased by his parents, Natalia and Lynwood Peterson, his brother Gilbert Peterson, and his best friend Vance VanJones. He is survived by his wife Paulette Peterson, three children, Malik Peterson (Yudelky), Danita Cooper-Lindsey (Derrick) of Denver, Colorado, and Dr. Corrie Fountain of Acworth, Georgia; five grandchildren, Marcus and Marissa Peterson, Tremain and Turner Davis, and Devon Cooper; three godchildren Pam Jones, Denita McBride and Walker Richardson. Rocky was proud that his grandson Tremain will be following him into the legal profession just like his goddaughter Pam. In addition, he is survived by special cousins, Robert “Ritt” Davenport, Bonita Dixon, Glenn McArthur, Denise and Donald McBride, and a special nephew, Palmer Richardson, Esq., who faithfully sat with his uncle to ensure that with the use of his
Tobii, Rocky could participate in monthly fraternity meetings.

In life, we have relatives by birth and relatives we are blessed to choose. Rocky is survived by the following relatives of choice: Pearl Lawrence, Jane Altman, Esq., Ethelyn and Dr. Charles Bowers, the Honorable Gerald Council, Donald and Moya Kearny, Dr. William Stanley, Tanya VanJones, William “Bill” Watson, and his former Hill Wallack partners. He is also survived by a host of other relatives and friends.

Finally, the family is grateful for the medical team that took this nearly seven-year journey with Rocky, including RWJ Family Home Practice, Bayada Home Health Agency, Matossian Eye Associates, Princeton Hypertension, Princeton Medical Group, Princeton Medical Center Critical Care Unit (Penn Medicine), Princeton Surgical Associates, Respiratory and Sleep Specialists, Hospital of the University of Pennsylvania Neuro and Medical Critical Care Unit, and most especially, what is now Jefferson-Moss Magee Rehabilitation Hospital.

In lieu of flowers and cards, a donation may be made in his name to Jefferson-Moss Magee Rehabilitation Foundation and/or The Trenton Alumni Chapter of Kappa Alpha Psi.

Arrangements are under the direction of Hughes Funeral Home of Trenton New Jersey. A celebration of life will be hosted by Hill Wallack on April 26, 2025, at its Princeton location, 21 Roszel Road, beginning at 10:00 a.m.

“They that love beyond the world cannot be separated by it. Death cannot kill what never dies.” William Penn

The Corporate Transparency Act Or The Roller Coaster Continues

04 Mar 2025

Last week we reported that the Corporate Transparency Act (“CTA”) is once again to be enforced by the Financial Crimes Enforcement Network (“FinCEN”) requiring the reporting of beneficial ownership information by all business entities in the United Sates. Essentially, under the CTA, the vast majority of companies in the United States would have been required to disclose the beneficial ownership information relating to who are the beneficial owners of a company, partnership, LLC etc. by the deadline date of March 21, 2025. Now, however, the Treasury Department announced on Sunday that it will not enforce any penalties or fines against US companies that fail to report beneficial ownership information as required by the CTA. It announced that proposed new rules by the Treasury Department would narrow the scope of the requirements of the CTA to only to apply to foreign reporting companies. This means that US companies will not be required to report beneficial ownership interest information, even after new rules are finalized. Both the American Bankers Association and the Treasury Secretary, Scott Bessent, believe that this decision by the Treasury Department represents a commonsense approach to the CTA enforcement while safeguarding national security. Hopefully, this will be the end of the Roller Coaster ride under the CTA.

Breaking News Regarding Reporting Under Corporate Transparency Act

28 Feb 2025

The status of BOI (Beneficial Ownership Information) reporting requirements pursuant to the Corporate Transparency Act (CTA) has changed yet again. On February 27, 2025 FinCEN issued the following press release regarding the BOI reporting requirements under the CTA. As indicated below, FinCEN will not be issuing fines for those that fail to file or update by the current deadline March 21, 2025. However, they will be issuing an interim final rule by that date. As we have previously advised, this reporting obligation currently applies to community association board members. It is recommended therefore that you continue to check the FinCEN website for updates.

Immediate release: February 27, 2025

WASHINGTON––Today, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines. No fines or penalties will be issued, and no enforcement actions will be taken, until a forthcoming interim final rule becomes effective and the new relevant due dates in the interim final rule have passed. This announcement continues Treasury’s commitment to reducing regulatory burden on businesses, as well as prioritizing under the Corporate Transparency Act reporting of BOI for those entities that pose the most significant law enforcement and national security risks.

No later than March 21, 2025, FinCEN intends to issue an interim final rule that extends BOI reporting deadlines, recognizing the need to provide new guidance and clarity as quickly as possible, while ensuring that BOI that is highly useful to important national security, intelligence, and law enforcement activities is reported.

FinCEN also intends to solicit public comment on potential revisions to existing BOI reporting requirements. FinCEN will consider those comments as part of a notice of proposed rulemaking anticipated to be issued later this year to minimize burden on small businesses while ensuring that BOI is highly useful to important national security, intelligence, and law enforcement activities, as well to determine what, if any, modifications to the deadlines referenced here should be considered.

The current reporting deadline remains March 21, 2025, but that will likely change before that date arrives.

If you have any questions about the Corporate Transparency Act and the BOI reporting requirements, or any other law affecting community associations, contact any of the lawyers in Hill Wallack’s Community Associations practice group.

Updated Status Of Reporting Pursuant To Corporate Transparency Act

21 Feb 2025

The status of BOI (Beneficial Ownership Information) reporting requirements pursuant to the Corporate Transparency Act (CTA) has changed yet again. As a result of a federal District Court opinion issued February 18, 2025 in Texas (Smith, et. al. v. US), the stay on BOI reporting requirements to the FinCEN has been lifted and the new deadline to file an initial, updated, and/or corrected BOI report is now March 21, 2025. As we have previously advised, this reporting obligation currently applies to community association board members.

FinCEN has reported that it will provide updates on any changes to the reporting deadline, as well as its intention to revisit and possibly revise the BOI reporting requirements so as to lessen the burden on lower-risk reporting entities. We will pass along any such updates as they become available.

Further, a bill has been unanimously passed by the U.S. House of Representatives to extend the BOI reporting deadline to January 1, 2026. The U.S. Senate has not yet taken up the bill, which if passed would need the President’s signature to become law.

If you have any questions about the Corporate Transparency Act and the BOI reporting requirements, or any other law affecting community associations, contact any of the lawyers in Hill Wallack’s Community Associations practice group.

Representing a Common Interest Community Association (CA)

19 Feb 2025

Representing a condominium or homeowners association (CA) is much different than when I started representing associations in 2000. Unlike Pennsylvania which has a Uniform Planned Community Act, New Jersey practitioners must know and balance the sometimes-competing requirements of a number of legislative enactments including the Condominium Act, the Planned Real Estate Development Full Disclosure Act, the Non- Profit Corporation Act and the accompanying regulations. On top of that is the ever-evolving case law as CA members and interested industry groups become more litigious. Finally, if you are representing associations, it is likely you are going to handle their collection matters so you must be aware of the Fair Debt Collection Practitioners Act and related regulations which are evolving through case law weekly and which expose you, rather than your client, to liability even for technical violations of the Act. Laws obviously designed to protect consumers from credit card and bank collectors do not take into consideration the differences and challenges of collecting for a CA.

In 2007 the New Jersey Supreme Court decided the Twin Rivers case¹ which held that a member can challenge association rules which place a restriction on the constitutional guarantees of free expression and assembly and ruled that such restrictions must be reasonable as to time, place and manner. As such, the status of CAs as a purely private entities was forever changed. There are still many unsettled questions about how much an association can control political speech and CA attorneys must try to predict how a court might ultimately rule on each particular issue. These issues have only become more difficult to deal with given the increased political and social enmity within communities.

In 2017 came the passage of the “Radburn Act”² and since then, new case law and legislative additions that impact CAs have been coming fast and furious. Radburn changed the rules for association elections overriding their Bylaws, redefined “good standing”, required disclosure of association records, and changed methods for amending governing documents among other changes. The Department of Community Affairs, which is charged with carrying out the mandates of the legislation, complicated matters by adopting sweeping regulations which were challenged and litigated over the next 3+ years. Inconsistencies between the legislation and the regulations are just one of the issues that CA attorneys must help clients manage.

In 2023 the Corporate Transparency Act was passed by Congress and was inexplicably applied to CAs that are primarily formed as non-profits. The deadline for association board members to register with the government’s website was December 31, 2024 but was stayed by a Federal Court (and then unstayed and then reimposed within a week) so navigating our association boards through that process has been challenging.

The biggest current issue facing CA attorneys is the January 8, 2024 law that dramatically changed the rules concerning mandatory structural inspections and the creation and maintenance of CA reserves. This was a reaction to the South Florida disaster where a high-rise condominium collapsed killing a hundred people because the members refused to spend money to inspect and properly maintain the building. For associations that have been woefully under-reserved since inception (a far-too frequent occurrence) this law is creating nightmares for homeowners faced with substantially increased assessments and special assessments and for the CA attorneys helping boards to understand that they have no choice in the matter. Ignoring the law is not an option as it could subject board members to uninsured liability.

These are not the only legislative and legal issues which CA attorneys are dealing with daily, but it hopefully points out that this is not a practice you can “dabble” in without subjecting yourself to substantial risk of malpractice. On the other hand, it is a challenging area of law that constantly presents new and interesting issues.

¹192 NJ 344 (2007)
2 As series of amendments to the Planned Real Estate Development Full Disclosure Act NJSA 45:22A-21 et seq. spurred by ^a

Hill Wallack LLP Promotes Henry T. Chou to Equity Partner

13 Feb 2025

Hill Wallack LLP is proud to announce the promotion of Henry T. Chou to Equity Partner. This achievement reflects Henry’s outstanding legal expertise, dedication to client service, and contributions to the firm’s continued success. His promotion also marks a significant milestone, as Henry becomes the first Equity Partner of East Asian descent in the firm’s history.

Henry has been a vital member of Hill Wallack, based in the Princeton, NJ office, where he has spent his entire legal career. He began as a first-year Associate in 2001 before being promoted to Partner, and most recently, Equity Partner. Henry plays an integral role in multiple practice areas, including Corporate, Foreign Direct Investment, Life Sciences, Renewable Energy & Sustainability, Real Estate, Land Use, Environmental, and Commercial Leasing. His work has been instrumental in guiding domestic and foreign companies, public entities, and non-profits through complex transactions and regulatory matters, particularly in corporate law, mergers and acquisitions, environmental permitting, and renewable energy projects.

“With his outstanding legal acumen and strong commitment to client success and his dedication and loyalty to the firm, Henry has earned this well-deserved promotion,” said Michael Kahme, Managing Partner of Hill Wallack. “His leadership and expertise have significantly contributed to our firm’s growth and ability to serve a diverse client base.”

A graduate of Rutgers Law School, Henry was admitted to practice law in New Jersey and Pennsylvania in 2000 and has since built an impressive career in corporate and real estate law. He also holds a degree from the Honors College of the University of Georgia and is proficient in Mandarin Chinese, which has strengthened his ability to serve international clients.

Henry’s promotion to Equity Partner highlights Hill Wallack’s ongoing dedication to recognizing excellence and cultivating leadership within the firm. As he steps into this new role, the firm looks forward to his continued contributions to its success and the success of its clients.

For more information about Hill Wallack LLP and its team, please visit www.hillwallack.com

Hurricane Ida Forbearance Statute

20 Dec 2024

The New Jersey Legislature recently passed a bill providing mortgage payment relief and foreclosure protection to homeowners affected by Hurricane Ida. Under the bill, storm-impacted homeowners may receive a forbearance from making mortgage payments on their primary residence for a period of one year. Homeowners who are already in foreclosure may also obtain a stay of foreclosure proceedings for a period of one-year or through January 1, 2026, whichever date is earlier. To receive a forbearance under the new law, a storm-impacted homeowner must show that they have satisfied all eligibility criteria by receiving a Certification of Eligibility for Forbearance from the New Jersey Department of Community Affairs (DCA).

Under the new law, the DCA must make the online application system publicly available no later than January 28, 2025. A storm-impacted homeowner then has 30 days from the date the online application system becomes publicly available to submit their application for approval. If approved, the DCA issues the homeowner a Certification of Eligibility for Forbearance (CEF) which entitles the homeowner to a one-year period of forbearance from the date the CEF is issued. A homeowner who is already in foreclosure proceedings when they receive a CEF must make an application to the Court to stay the proceedings by April 1, 2025, although the court has discretion to permit a later filing. The homeowner’s receipt of a CEF constitutes good cause for the award of a stay for a period of no more than one year from the date the stay is awarded or January 1, 2026, whichever is earlier.

It is the responsibility of the homeowner to provide a copy of the CEF to their mortgage servicer for the forbearance to be effective. During the forbearance period, the mortgage servicer is prohibited from sending the homeowner a notice of intention to foreclose or otherwise initiating the foreclosure process. One exception to this is if the homeowner’s property is vacant or abandoned. The statute of limitations will be tolled (suspended) during the period of forbearance. All terms of the original mortgage will remain in effect except with regard to default and delinquency. No fees, including attorney’s fees, may be assessed related to the forbearance, late payment, or early repayment during the period of forbearance. The homeowner will be responsible for paying property taxes, insurance obligations, and maintaining the property.

The new law imposes a reporting requirement on mortgage servicers to report all loans for which a CEF has been issued within the State to the Department of Banking and Insurance (DOBI) on a monthly basis, or on any alternative schedule as directed by DOBI. Moreover, if required to do so by the Administrative Director of the Courts, the mortgage servicer must provide the docket numbers, party names, and property addresses as to any pending court actions involving any property granted a forbearance to the Superior Court Clerk’s Office.

Importantly, the new law does not apply to mortgage loans made, insured, or securitized by Fannie Mae, Freddie Mac, the Federal Housing Administration of the United States Department of Housing and Urban Development (HUD), the Department of Veterans Affairs, or the Rural Housing Service. Additionally, the new law does not affect mortgage loans serviced pursuant to the policies of these entities which were not made, insured, or securitized by these entities. The only circumstance in which the Act will apply to a mortgage loan made by these entities is if the loan has been granted a forbearance under the Act prior to being serviced by these entities.

For more info please contact Eric Kelner, Mark Roney or Daniel Kaschak.

Hill Wallack LLP Opens New Office in Orlando, Florida, Expanding Its "Impact Where It Matters Most"

09 Dec 2024

Orlando, FL — Hill Wallack LLP is proud to announce the opening of its newest office at 300 S. Orange Ave, Suite 1000, Orlando, FL 32801. This expansion represents Hill Wallack LLP’s commitment to serving our clients across the country. The Orlando office will be led by two highly accomplished resident attorneys, Leslie Rushing and Michelle De Leon, both of whom bring extensive experience and a deep commitment to client service in their respective fields.

Leslie Rushing, Florida Resident partner and Managing Attorney of the Bankruptcy Group, specializes in creditors’ rights and real estate legal services with a focus on bankruptcy. With a career dedicated to the financial services industry, Mrs. Rushing has a proven track record in representing creditors in all bankruptcy chapters, as well as managing loan servicing and default-related legal services. Her leadership and expertise position the Orlando office as a hub for excellence in creditors' rights and bankruptcy representation.

Michelle A. De Leon, Counsel, practices in the Foreclosure Division within the Creditors’ Rights Department, with a focus on residential and commercial foreclosures, evictions, garnishment, debt collection, and landlord/tenant disputes. With over a decade of experience, Ms. De Leon has been recognized for her contributions to the financial services industry, including being named one of the Top 50 in the Industry. Bilingual in English and Spanish, Ms. De Leon is also an active volunteer in her community, contributing her time to nonprofit organizations like TransLife, a non-profit organ donor organization.

“We’re entering one of the fastest-growing markets in the country, and Orlando is the perfect gateway to expanding our presence throughout the Southeast,” said Michael Kahme, Managing Partner of Hill Wallack LLP. “This is a major milestone for Hill Wallack and a reflection of our continued momentum and forward-thinking vision.”

“We are thrilled to expand our footprint into Florida to serve our current clients and for new opportunities. I am thrilled that Leslie and Michelle have joined us and we look forward to growing our Florida presence. Having graduated from the University of Miami Law School, I recognized that Florida was a dynamic State with growth opportunities. While it has taken too long, I couldn’t be happier with our team in Florida and the potential that awaits”,” said Michael Kahme, Managing Partner of Hill Wallack LLP. “This expansion represents Hill Wallack’s continued evolution and our commitment to being at the forefront of legal solutions for the financial services and real estate industries,” added Eric Kelner, Partner and Chair of the Creditors’ Rights Department. “Leslie and Michelle exemplify the firm’s values and expertise, and we’re excited to see how their work will impact and expand our presence to Florida. As we continue to grow, we remain dedicated to delivering top tier service to our clients while building lasting connections in the communities we serve,” added Kelner.

Corporate Transparency Act – Registration Requirements Placed on Hold by Federal Court

04 Dec 2024

A federal court has very recently issued a nationwide injunction against the application and enforcement of the Corporate Transparency Act (CTA). The court issued a preliminary injunction that puts a stop on the CTA reporting requirements, stating that the CTA reporting requirements cannot be enforced and that reporting companies (therefore including community association board members) are not required to comply with the January 1, 2025 deadline pending further order of the court. A copy of the court’s decision can be found in the attached link.

Community association board members are therefore not required at this time to register under the CTA. If any board member has registered, no further action (including any updating) is required at this time. We will continue to keep you apprised as additional information becomes available. Note that this is a temporary injunction, not permanent, and could change as further court proceedings are held.

The Hill Wallack Community Association team is here to help our clients navigate through this process. For further information, contact any of our team members: Ken Sauter, George Greatrex, Gregg Shivers, Michael Karpoff, Terry Kessler, Jenn Webb, Daria Janka, Effie Hibshman, John Bobber, and Chris Lugara.

Link to the full decision HERE

Hill Wallack Completes SOC 2 Type II Audit, Strengthening Commitment to Data Security and Privacy

11 Nov 2024

Hill Wallack LLP is pleased to announce the firm has successfully completed a SOC 2 Type II audit, affirming its ongoing commitment to maintaining the highest standards of data security, privacy, and operational controls.

SOC 2 (System and Organization Controls 2) is an industry-leading audit standard developed by the American Institute of CPAs (AICPA) that evaluates a company's controls related to five key trust service criteria: security, availability, processing integrity, confidentiality, and privacy. Achieving SOC 2 Type II certification demonstrates that Hill Wallack has met these rigorous standards over an extended period (typically six to 12 months), with an independent audit verifying that the firm’s systems, processes, and controls are secure and effective.

"We are proud to have completed the SOC 2 Type II audit, which underscores our unwavering commitment to safeguarding sensitive client information and maintaining the highest levels of trust in our services," said Michael Kahme, Managing Partner of Hill Wallack "As a law firm that handles complex and confidential matters for a diverse client base, security and privacy are of the utmost importance. Achieving SOC 2 Type II certification is a key milestone in our ongoing efforts to enhance data protection and ensure the reliability of our services."

The SOC 2 Type II audit provides external validation that Hill Wallack's internal controls are not only well-designed but are also operating effectively over time. This certification offers assurance to clients and stakeholders that the firm is well-equipped to mitigate risks and protect critical data against breaches or unauthorized access. It also positions Hill Wallack as a trusted partner for businesses and individuals seeking legal services in an increasingly data-sensitive environment.

"This audit reinforces our promise to clients that we prioritize the confidentiality, integrity, and availability of their data," added Kahme. "As the legal industry continues to evolve and digital transformation accelerates, we are committed to staying at the forefront of security best practices to provide our clients with the confidence they deserve."