Last week, Ocean City, NJ Mayor Jay Gillian released a statement announcing he has declared personal bankruptcy. Now, a civil lawsuit surrounding nearly $600,000.00 in unpaid debts and fees have taken the spotlight.
In September 2023, 1st Bank of Sea Isle City & Patricia Gillian Irrevocable Trust sued Jay Gillian seeking repayment over a 2009 $1.5m line of credit that was secured by the Wonderland Pier property. On March 18, 2024, Jay Gillian was ordered to pay $595,619. This is the unpaid balance of the loan, plus interest and legal fees. Court documents allege zero payments have been made toward this judgement.
Mayor Jay Gillian, Photographed on the Wonderland Pier Carousel
Now, a recent complaint alleges that proceeds from the sale of Wonderland Pier to developer Eustace Mita were paid to Jay Gillian personally, despite a lien on the property. The lien, filed in 2022, required that any sale proceeds be used to satisfy outstanding debt before funds could be distributed to Jay Gillian.
🗓️ TIMELINE:
September 2023: 1st Bank of Sea Isle City & Patricia Gillian Irrevocable Trust sue Jay Gillian and Gilamco (company owned by Jay Gillian) seeking payment of the $1.5m line of credit.
March 2024: Cape May County Superior Court rules against Jay Gillian, ordering him to repay $595,619 (unpaid balance of the loan, plus interest and legal fees)
August 2025: Complaint alleges zero ordered payments received, names Eustace Mita & 600 Boardwalk LLC as defendants. Complaint alleges lien on property was ignored/bypassed when property was sold to Eustace Mita.
December 2025: Ocean City, NJ Mayor Jay Gillian files personal bankruptcy, citing significant financial challenges he could no longer manage.
Court activity is scheduled to resume in February 2026, just months before the June 2026 Ocean City, NJ Mayoral election. As of 12/12/2025, Mayor Jay Gillian intends to run for re-election.
During his bankruptcy announcement, Gillian wanted to emphasize that his personal financial situation has no impact whatsoever on city finances, budget, credit rating, or operations. Click here to view the full statement.
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