The coffee shop chain Fika opened in New York City in 2006. The company was known for its sleek modern ambience, and its shops became very popular. 10 years after it opened, Fika had 17 locations in the city, and its owner was telling people that the company intended...
Month: January 2019
Can the New York homestead exemption save a debtor’s home?
Previous posts here have discussed New York's statutory exemption of an owner's equity in a homestead from creditors' claims in a bankruptcy proceeding. In order to fully understand this topic, a review of the automatic bankruptcy stay is also important.New York, like...
Sears’ CEO buys company assets in bankruptcy auction
In a recent post about the status of the Sears bankruptcy, the efforts by the company's CEO Eddie Lampert to secure financing for a purchase of the company's assets received significant attention. The other shoe has apparently fallen, because recent reports from the...
American Chopper host caught in tangled bankruptcy
Personal bankruptcy can be a smooth process that can provide significant relief from overburdening debt. Occasionally, however, the real world intervenes, and the bankruptcy process becomes extremely tangled. Paul Teutel, the host of the Discovery Channel's popular...
Sears is on the brink of dissolving; will it be saved?
Sears has several stores in Rockland County and elsewhere in downstate New York. The court handling the closely-watched business bankruptcy set a recent deadline for the submission of bids to buy the company. If no qualifying bids were submitted, the court stated that...
