Articles from Shenwick & Associates

Pandemic Pushes N.Y.C. Cabbies to the Brink: ‘I Can’t Hold On’

https://www.nytimes.com/2020/11/12/nyregion/nyc-taxi-drivers-coronavirus.html Originally appeared on  The New York TimesWhile some businesses have adapted to virus restrictions, the yellow cab industry is especially suffering.In September, an average of 3,257 yellow cabs and 575 green cabs operated each day, according to city data.</body></html>

For Millions Deep in Student Loan Debt, Bankruptcy Is No Easy Fix

https://www.nytimes.com/2020/11/07/your-money/student-loans-bankruptcy.html Originally appeared on The New York Times
 It’s an extremely difficult debt to discharge, and only a few hundred people a year even try. Here are the stories of some who succeeded —mostly.

Record number of small-business bankruptcy filings signal COVID-19 distress

 https://www.djournal.com/mbj/record-number-of-small-business-bankruptcy-filings-signal-covid-19-distress/article_5ccdcae6-13ab-11eb-8ccf-d37eb8a883c1.htmlOriginally appeared on Mississippi Business JournalA record number of small businesses based in Mississippi filed for protection under Chapter 11 of the U.S.

City Council set to vote on new office to regulate NYC taxi medallion sales

 https://www.nydailynews.com/new-york/ny-tlc-taxi-medallion-oversight-20201015-2pyve3pmfreuvfsii6mpjh43ta-story.htmlOriginally appeared on NY Daily NewsNew York City Council members hope a new office within the Taxi and Limousine Commission will keep taxi medallion owners from being taken for a ride.The Council on Thursday will vote on a bill to establish a new “Office of Financial Stability” within the TLC designed to kee

Why filing for Chapter 11 bankruptcy could be the best way to save your small business

Originally appeared on Baltimore Business Journal Filing for bankruptcy protection may seem taboo to small business owners, but a relatively new and little-known program could prove to be the difference between surviving the Covid-19 pandemic or closing for good. The flood of bankruptcies that many economists, lawyers and accountants expected has not transpired. While several large companies in the retail industry have filed for Chapter 11 bankruptcy — J.C. Penney, Neiman Marcus and Brooks Brothers to name a few — most small businesses have held off as they try to tread water.

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