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Fay L. Szakal
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Fay is a results-driven corporate and business lawyer who provides general and specialized representation to small, midsized and large business entities, including for-profit and nonprofit businesses, in corporate, real estate, and healthcare transactions.

She represents clients in mergers and acquisitions (M&A), the formation of business entities, the transfer or sale of membership interest or ownership equity, statutory mergers, private equity deals, financing transactions, joint ventures, and other commercial transactions. Her work encompasses the drafting and negotiation of an inclusive range of corporate agreements and contracts. She also drafts and negotiates employment and consultant agreements, including within the context of acquired businesses for which the seller plays a continuing role as a consultant or employee, as well as restrictive covenants, such as non-competes and non-solicitation agreements.  

Fay supports the firm’s healthcare sector clients by assisting with the formation and structuring of new healthcare entities, and with navigating New Jersey’s corporate practice of medicine doctrine. She plays a significant role in identifying potential regulatory red flags in transactions, including issues arising under the Stark Law and federal and state anti-kickback statutes.   

For clients in the commercial real estate industry, Fay serves as a strategic advisor on entity formation, corporate due diligence, financing options, and the contractual allocation of risk. She is a resource for clients who wish to pursue tax incentives as a financing tool for commercial, mixed-use, and residential projects that demonstrate a financing gap. Her knowledge of the complexities of tax credits as a business development incentive extends to her work with clients interested in utilizing the New Jersey Film and Digital Media Tax Credit Program, a significant incentive designed to attract film, television, and digital media production to the state.  

Fay provides comprehensive services to non-profit entities, including 501(c)(3), (c)(4), and (c)(6) organizations such as charities, foundations, and membership associations, to ensure that a non-profit business entity’s mission can be effectively pursued within the parameters of any applicable tax exemption. Her work for the non-profit sector encompasses entity formation and tax-exempt applications, governance and strategy guidance, operational support and general counsel services, and counseling on compliance and risk management including adherence to the New Jersey Nonprofit Corporations Act.

Results may vary depending on your particular facts and legal circumstances.

Bar Admissions

  • New Jersey, 2014
  • New York, 2015
  • U.S. District Court, District of New Jersey, 2015
  • U.S. District Court, Southern District of New York, 2015
  • U.S. District Court, Eastern District of New York, 2015

Education

  • Rutgers School of Law-Newark, J.D., 2014
  • The University of Chicago, B.A., cum laude, 2005

Recognition

  • Listed in Super Lawyers - New Jersey Rising Stars (a Thomson Reuters business) in the Business/Corporate practice area (2021 - 2024)

Rated By SuperLawyers Rising Stars Fay L. Szakal

Please visit our Award Methodology page for a description of the standard or methodology on which these accolades are based. Attorney Advertising: No aspect of this advertisement has been approved by the Supreme Court of New Jersey.

Clerkships

  • Former law clerk to The Honorable Carmen Messano, New Jersey Superior Court, Appellate Division (2014-2015)

Representative Matters

  • Representing New Jersey’s first “homegrown” film and television production company in connection with a $1 billion multi-year film and television studio development in New Jersey, serving as general corporate counsel for entity formation, financings, redevelopment and energy coordination, contract negotiations, and applications for New Jersey Economic Development Authority tax credit programs, including Aspire incentives.
  • Representing a healthcare system in drafting and negotiating a uniform exclusive radiology services agreement implemented across multiple hospitals, standardizing contractual terms and negotiating arrangements with regional radiology groups.
  • Represented a real estate development principal in analyzing ownership structures and advising on Corporate Transparency Act compliance for approximately 75 affiliated entities, including beneficial ownership reporting and related corporate governance matters.
  • Represented a purchaser of a small business in a $500,000 acquisition, resolving a fraudulent Small Business Association (SBA) loan and lien discovered during due diligence by submitting a Freedom of Information Act request, coordinating with law enforcement and the SBA, and securing release of the lien to allow the transaction to close.
  • Represented a buyer in the $1.2 million acquisition of a daycare center and related commercial property, structuring a multi-entity transaction involving SBA financing.
  • Representing a nonprofit foundation in the formation and tax-exempt qualification of affiliated 501(c)(4) and 501(c)(3) organizations, structuring governance and compliance to support nationwide advocacy, educational programming, and charitable fundraising initiatives.
  • Representing a healthcare provider in the $2.5 million sale of a radiology and imaging center, including negotiation of transaction documents and coordination of Department of Health approval for transfer of an ambulatory care facility license.

Published Cases

  • In Stewart v. New Jersey Turnpike Authority (2022), represented an appellant paving and road work contractor before the New Jersey Supreme Court, successfully challenging claims arising from a major public infrastructure project. Fay argued the case on behalf of the client and secured a ruling clarifying contractor liability and public-authority oversight in large-scale construction matters.

Memberships

  • New Jersey State Bar Association: LGBTQ Rights Section; Business Law Section
  • Middlesex County Bar Association
  • Monmouth County Bar Association
  • American Health Law Association
  • Alliance of Merger & Acquisition Advisors, North New Jersey Chapter
  • USA 500 Clubs, Tri-State Region

Personal

  • Girl Scouts of the Jersey Shore: Registered Volunteer 
  • Monmouth Reform Temple, Tinton Falls: Board of Trustees
  • While attending law school as a Dean's Merit Scholar, Fay served on the Rutgers Moot Court Board, as Commentaries Editor for the Rutgers Law Review, and as a teaching associate for the Legal Research & Writing program.  
  • Prior to law school, Fay was an 8th grade language arts/English literature teacher for four years. She attended law school as an evening student and continued to teach up until her graduation.

Client Alerts

Seminars & Events

A well-crafted governing agreement is the essential foundation for any business, providing a clear roadmap for decision-making and long-term growth. Our partner Fay L. Szakal explains in this video why establishing a framework is a best practice for every business in order to protect both the entity’s survival and the interpersonal relationships of its owners.  

Of Interest