Have you been on the receiving end of a preference action this past year? More than one? You’re not alone. According to CFO.com, “Bankruptcy trustees are aggressively seeking to reclaim payments made by insolvent firms to vendors and other unsecured creditors.” The article notes that though the number of large corporate bankruptcy filings has dwindled …
Why is there a wave of preference actions right now? Read More »
According to a recent post by Professor Bob Lawless on CreditSlips.org (a bankruptcy blog that features top academic minds in the bankruptcy world), 1 in every 9 bankruptcy cases in the U.S. is filed pro se. (FYI, pro se means when you represent yourself in a case rather than hire a lawyer.) And in some …
How frequently do people file for bankruptcy without a bankruptcy lawyer? Read More »
You’ve seen the commercials on tv and heard them on the radio. Maybe seen billboards or ads on the subway or at the bus stops. “We’ll fix your credit!” they tell you in a voice that sounds vaguely familiar to that voice that cries, “But wait! There’s more! For $19.95 you also get this handy-dandy, …
Time for another edition of Brooklyn Bankruptcy Update, a look at the latest Bankruptcy news and happenings out of the County of Kings (aka Brooklyn). “Fraudulent nursing school files for bankruptcy: Students left holding the bag at Brooklyn-based Envision Review Center Inc.“ (Crain’s New York Business) – The nursing school, located on 1894 Flatbush Avenue, …
The latest Bankruptcy Bill cartoon is out (“Bankruptcy Bill #25: Dutch Date“) and finds humor in the euphemisms bankruptcy lawyers might employ in discussing a blind date gone awry. The humor is intended primarily for an audience of bankruptcy lawyers. But I thought it also offers a nice opportunity to educate my clients and other …
Time for another edition of Brooklyn Bankruptcy Update, a look at the latest Bankruptcy news and happenings out of the County of Kings (aka Brooklyn). 1. Mayor Bloomberg Announces New NYC Service Initiative to Provide Free Legal Services to Homeowners in Danger of Foreclosure (RealEstateRama.com) “A new NYC Service initiative to provide free legal support …
Bankruptcy Man (f/k/a BAPCPA Man) fights through a classic mortgage industry trick by Mortgantua. Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of Bankruptcy Man. If you’re concerned about foreclosure in New York and dealing with mortgage and other financial problems, if you’re in search of your …
Bankruptcy Man vs. Mortgantua – Mortgage Note Request! Read More »
The Lenny Dykstra bankruptcy drama continues. When we last checked in, Dykstra was demonstrating what not to do in an individual Chapter 11 bankruptcy by trashing his mansion and allowing it to fall into disrepair in various ways. Essentially he was throwing away value that could’ve been used toward paying back creditors in an effort …
Lenny Dykstra Chapter 11 bankruptcy anti-case study continues Read More »
Filing for bankruptcy, especially Chapter 11, doesn’t necessarily mean you’re broke or that your business failing. Sometimes it’s part of a larger strategy to get out of a tight situation. In the case of Sid’s Hardware Store on 345 Jay Street in Metrotech, the business was viable but the lease was too expensive to enable …
Strategic small business bankruptcy: Sid’s Hardware uses Chapter 11 to end lease Read More »
The Bankruptcy Bill Bankruptcy Song Contest (of which I was one of the sponsors) announced it’s winner in a cute cartoon: “DEBTS IN WRONG PLACES” by Judge Alan S. Trust(United States Bankruptcy Judge, Eastern District of New York) (Bankruptcy Bill Song Contest cartoon image used by Rosenberg Musso & Weiner LLP with the express permission …
Judge Alan Trust wins Bankruptcy Bill Bankruptcy Song Contest Read More »
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