This blog has frequently considered the power given to companies who have filed a Chapter 11 bankruptcy petition to revoke real estate leases that still have many months left on the original term. Now a New York City landlord is attempting to reverse the process by...
Month: March 2019
What is reaffirmation of debt?
For many people in Rockland County, bankruptcy looks like an expert ski hill - once you start down, you have almost no way to stop. In the process, creditors will seize assets that provide security for a loan that will be discharged, and valuable assets, such as a car...
What happens to employees’ claims for wages in a bankruptcy?
When a business files a petition in bankruptcy, it may have a number of employees who are owed payment for work performed prior to the filing of the petition. One of the most pressing questions for Rockland County individuals who work for firms entering into...
Scandal-plagued restaurant on Hudson files for bankruptcy
Many factors can force a business into bankruptcy. The most common reasons for a business to seek bankruptcy protection is too many debts and insufficient revenue. Shoddy business practices can also be an underlying cause. A popular restaurant on the Hudson River, La...
