Articles from Shenwick & Associates

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 What Is Chapter

Submitted by Anonymous (not verified) on Fri, 07/01/2022 - 16:48

 What Is Chapter 7 Bankruptcy? See a very helpful article in the South Florida Report, URL below. https://southfloridareporter.com/what-is-chapter-7-bankruptcy/
Jim Shenwick, Esq 212 541 6226 [email protected]

Subchapter V Debt Ceiling has been Restored to $7.5 Million

Submitted by Anonymous (not verified) on Fri, 06/24/2022 - 18:59

 National Law Review is reporting that the Subchapter V Debt Ceiling has been Restored to $7.5 Million.  With the new law, the $7.5 million debt ceiling will remain effective until June 21, 2024.   The article can be found at https://www.natlawreview.com/article/subchapter-v-debt-ceiling-restored-...
Jim Shenwick Esq. 212 431 6224 [email protected]

4th Circuit Rules that Exceptions to Discharge Apply to Business Debtors in Subchapter V

Submitted by Anonymous (not verified) on Mon, 06/20/2022 - 01:34

 Many of the readers of our email newsletters and blogs are aware that Subchapter V of Chapter 11 of the Bankruptcy Code was implemented to help small businesses reorganize quicker and cheaper. Debt limits for Subchapter V bankruptcy filings are currently $2,725,625 limit, but pending legislation will soon raise it to $7,500,000.00.In these challenging economic times, Subchapter V may be a very helpful tool to help businesses reorganize.A recent Fourth Circuit case, In re Cleary Packaging, LLC, 2022 WL 2032296 (4th Cir.

Fourth Circuit’s recent decision In re Cleary Packaging, LLC, 2022 WL 2032296 (4th Cir. June 7, 2022) holds that in certain Subchapter V cases the statutory exceptions to the bankruptcy discharge will apply to corporate debtors

Submitted by Anonymous (not verified) on Fri, 06/17/2022 - 18:57

 The Fourth Circuit’s recent decision In re Cleary Packaging, LLC, 2022 WL 2032296 (4th Cir. June 7, 2022) holds that in certain Subchapter V cases the statutory exceptions to the bankruptcy discharge will apply to corporate debtors. An article at National Review explains generally, in a traditional Chapter 11, exceptions to discharge for corporate debtors are more limited if the corporation is not liquidating.

Any income you earn over $600 is now being reported to the Internal Revenue Service by payment apps including eBay, Venmo and Airbnb see the NY Post Article below

Submitted by Anonymous (not verified) on Wed, 06/15/2022 - 18:42

 The Taxman Cometh: The IRS wants in on your Venmo, see the article at https://nypost.com/2022/06/09/the-taxman-cometh-the-irs-wants-in-on-your...As the article provides, any income you earn over $600 is now being reported to the Internal Revenue Service by payment apps including eBay, Venmo and AirbnbForewarned, is forearmed! Jim Shenwick Esq 212 541 6224 [email protected]

Chapter 13 Bankruptcy Forbes Advisor

Submitted by Anonymous (not verified) on Tue, 06/14/2022 - 18:57

 Forbes Advisor has very interesting and informative article about Chapter 13 Bankruptcy, it can be found at Forbes Advisor Chapter 13Those people with questions about personal bankruptcy should contact Jim Shenwick, Esq. 212 541 6224 [email protected]

InfoWars Case Spotlights Limits of Small Business Bankruptcy Law and Subchapter V

Submitted by Anonymous (not verified) on Tue, 05/31/2022 - 18:27

 Bloomberg Law has an interesting post about InfoWars Case Spotlights Limits of Small Business Bankruptcy Law and Subchapter V small business chapter 11 filings. The article can be found at https://lnkd.in/gFH7fJE8Persons with questions about Subchapter V should contact
Jim Shenwick, Esq. 212 541 6224 [email protected]

Subchapter V eligibility update

Submitted by Anonymous (not verified) on Thu, 05/26/2022 - 21:07

 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...

Subchapter V Bankruptcy for Small Businesses

Submitted by Anonymous (not verified) on Thu, 05/19/2022 - 18:11

 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

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