Freehold, NJ - Judge Appoints Fiscal Agent To Sort Out Dwek's Properties

Freehold, NJ - A Superior Court judge ended a hearing on Solomon Dwek's real estate empire by appointing a fiscal agent to help sort out the more than 200 properties controlled by embattled investor.

Judge Alexander D. Lehrer appointed Donald M. Lomurro of the Lomurro, Davison, Eastman and Munzo law firm, to begin reviewing Dwek's assets and report back to the court. Lomurro will act as a fact finder for the judge, who will try to untangle the complex business and real estate transactions. "The chaos, speculation and uncertainty will end here, now," Lehrer told the courtroom, which was packed with more than 100 lawyers, bankers, partners and observers.

Lomurro will begin his job immediately and work through the weekend, Lehrer said. His primary task will be to classify the different parties with interests in the real estate, such as mortgage holders and business partners. "This is a complex commercial piece of litigation that will be resolved by business people in a business manner," Lehrer said.

Dwek did not attend the hearing. Dwek is free on $10 million bond. Dwek's attorney, Robert A. Weir Jr., Red Bank, said his client wanted to work out the claims Thursday, but the arrest interfered with that. "Instead of walking in with funds today to settle it, we're a little behind," Weir said. "We are not running away. We are going to address it."