Blogs
A new announcement has just been submitted by the Clerk of the United States bankruptcy Court for the Northern District of Illinois. Going forward in the post-Covid future, the outlying collar county court calls will no longer be heard in those collar counties. The matters will be heard via Zoom for Government or a party+ Read More
The post Bankruptcy Matters For The Collar Counties To Be Heard In Chicago appeared first on David M. Siegel.
The recently passed Consumer Credit Fairness Act (“CCFA”) instituted some wide-sweeping, and much needed, reforms in the debt collection practice in New York State. First and foremost, the New York Statute of Limitations (“SOL”) for commencing a debt collection lawsuit was reduced from 6 years to 3 years, effective April 7, 2022. Other portions of Read More
The 9th Circuit Bankruptcy BAP has ruled in RS Air, LLC that a profit motive is not required for a debtor to qualify for Subchapter V relief. An article about this case can be found at https://www.jdsupra.com/legalnews/profit-motive-not-required-for-9954771...
Jim Shenwick, Esq. 212 541 6224 [email protected]
“Top Notch Representation, Personalized Service! ” T.M.
Diane Drain personally answers her incoming calls! Every individual has their own specific reasons for seeking bankruptcy protection. I enlisted Ms. Drain’s assistance and from that first consult I realized that this was not your typical “legal factory” churning out client cases. Following my discharge and reflecting back, her biggest strength and your most viable asset is her knowledge of the bankruptcy process. Her tenacious commitment to the prework stage (planning and preparation) is paramount to your case’s success. I’ve found her to be compassionate, yet an Arizona “straight shooter” when it came to directing my case.
Thank you, Diane and Jay for the seamless process you provided me! T.M.
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The post Top Notch Representation, Personalized Service appeared first on Diane L. Drain - Phoenix Arizona Bankruptcy Attorney.
A very information article about Subchapter V Bankruptcy for small businesses can be found at https://blogs.lawyers.com/attorney/bankruptcy/can-you-benefit-from-small...
The article is titled Can You Benefit From Small Business Bankruptcy Under Subchapter V? by Adrienne Woods
Any attorneys or clients that have questions about Subchapter V can contact Jim Shenwick, Esq at 212 541 6224 [email protected]
Bankruptcy and Depression: No, I’m Not a Doctor This post is about bankruptcy and depression. No, I’m not a doctor. (Actually my law school degree says I’m a JD– a juris doctor). But I see depressed people a lot. And because I see it a lot, I’ve read up on it. The VA says that […]
The post Bankruptcy and Depression by Robert Weed appeared first on Northern VA Bankruptcy Lawyer Robert Weed.
Bankruptcy and Depression: No, I’m Not a Doctor This post is about bankruptcy and depression. No, I’m not a doctor. (Actually my law school degree says I’m a JD– a juris doctor). But I see depressed people a lot. And because I see it a lot, I’ve read up on it. The VA says that […]
The post Bankruptcy and Depression by Robert Weed appeared first on Northern VA Bankruptcy Lawyer Robert Weed.
SubChapter V, the new small business chapter 11 bankruptcy is approximately 2 years old. Congress’s goal was to create a less costly form of reorganization for small businesses. For many small businesses, Chapter 11 filings were too expensive. SubChapter V combines elements of chapters 13 (which is only for individuals) and 11.We wrote about SubChapter V on our blog at https://shenwick.blogspot.com/search?q=subchapter+vA recent article at Bloomberg titled “Analysis: Four Statistical Snapshots of Subchapter V’s 1st Year can be found at https://news.bloomberglaw.com/bloomberg-law-analysis/analysis-four-statistical-snapshots-of-subchapter-vs-1st-yearThe Bloomberg article states that since the first case was filed in the Middle District of Tennessee on Feb. 19, 2020, a total of 1,643 bankruptcies were filed pursuant to Subchapter V. The Middle District of Florida had the most Subchapter V cases filed during its first year with more than 140 cases. Florida, California, and Texas rounded out the top five.According to the article, approximately 50 Subchapter V cases were filed in the SDNY and 50 in the EDNY.A recent article at JD Supra titled Subchapter V Changed The Chapter 11 Bankruptcy Landscape – How Should A Creditor Protect Itself? Which can be found at https://www.jdsupra.com/legalnews/subchapter-v-changed-the-chapter-11-1845098/ details how creditors can protect themselves if they are involved in a Subchapter V case.At Shenwick & Associates, we filed one Subchapter V case and then quickly moved to convert that case to chapter 7 due to, in our opinion, a difficult to deal with and inexperienced Subchapter V Trustee. Unfortunately SubChapter V requires that a Subchapter V Trustee be retained in the proceeding and the Debtor has no control over who that trustee will be.Subchapter V remains a work in progress and only time will tell if this new version of chapter 11 will be successful!Attorneys, accountants or debtors who have questions about Subchapter v or small business reorganizations should contact Jim Shenwick, Esq 212 541 6224 [email protected]
Why there’s a unified movement to cancel student loans but not credit card debt or mortgages? Very interesting article discussing this topic at CNBC at https://www.cnbc.com/2022/05/10/why-theres-a-push-to-forgive-student-loa...Jim Shenwick, Esq. 212-541-6224 [email protected]
Pot and Bankruptcy Law, Not a Great Mix
An article posted at JDSUPRA, titled "Even Indirect Income from Cannabis Can Get You Banned From Bankruptcy" notes that "despite widespread trends in state-level legalization and decriminalization of high-THC cannabis and growing acceptance of cannabis among Americans, cannabis and cannabis products remain illegal under federal law". Accordingly, the article states that bankruptcy courts have consistently dismissed cases when a debtor directly engages in violations of the Federal Controlled Substances Act ("CSA") or where the debtor's reorganization efforts depend on proceeds derived from CSA violations. The article can be found at https://lnkd.in/eKqHw-Ga
Jim Shenwick, Esq. 212 541 6224 [email protected]
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