(Click here to read, “Who Are Chapter 11 Bankruptcy Debtors?” part 1.) This post continues my analysis of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) Report for 2016, specifically its data on chapter 11. Aside from displaying national information, these posts relate it to Brooklyn bankruptcy and New York bankruptcy. The report is …
Who Are Chapter 11 Bankruptcy Debtors? (Part 2 of 2) Read More »
In chapter 7 and chapter 11 New York bankruptcy, a bankruptcy estate is created and then either liquidated or managed for the creditors. In chapter 7, the estate is controlled by the trustee; in chapter 11, it’s managed by the debtor in possession or a trustee if appointed by the bankruptcy court. It’s easy to …
Capital Gains, Transfer Taxes, and the Bankruptcy Estate Read More »
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 …
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 »
Just a quick post to let readers know that I will be teaching the “Small Business Bankruptcy“ portion of the March 3 “Consumer and Small Business Bankruptcy 2010“ seminar at the Practicing Law Institute (PLI) in New York City. Here are the topics I’ll be covering: Small Business Bankruptcy Eligibility for filing as a small …
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