Chief Judge Carla E. Craig of the United States Bankruptcy Court for the Eastern District of New York, has asked Brooklyn bankruptcy attorney and partner Bruce Weiner to join a select group of bankruptcy practitioners in an advisory committee designed to provide “a forum for communication and feedback between the Board of Judges and the bar regarding Chapter 11 practice and procedure with the goal of better serving the needs of individual and business entities seeking reorganization…”. The first meeting is scheduled for the beginning of March.
Beware Grace Periods, Debtors
Too often, debtors see grace periods offered by lenders as free benefits. “Grace” makes it sound so innocent. However, debtors who routinely rely on grace periods when making payments will find themselves facing financial difficulties that might lead to bankruptcy. The reason is that although creditors offer grace periods to debtors, they also use them