Articles from Shenwick & Associates

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A Wave of Small Business Closures Is on the Way. Can Washington Stop It? Bipartisan proposals address weaknesses of a hastily passed aid program New York Times May 21, 2020

Submitted by Anonymous (not verified) on Thu, 05/21/2020 - 18:26

A Wave of Small Business Closures Is on the Way. Can Washington Stop It?
Bipartisan proposals address weaknesses of a hastily passed aid program.

One of the great threats to the post-pandemic economy is becoming clear: Vast numbers of small and midsize businesses will close permanently during the crisis, causing millions of jobs to be lost.

The federal government moved with uncharacteristic speed to help those businesses — enacting the Paycheck Protection Program, with $669 billion allocated so far.

New York City's Taxi Drivers Are in Peril as They Brave the Coronavirus and Uncertain Futures

Submitted by Anonymous (not verified) on Tue, 05/19/2020 - 00:12

From: Time By: Melissa ChanMay 15, 2020

Every cent matters to Kim Jaemin, a cab driver in virus-ravaged New York City, whose diet has been reduced to instant noodles despite working 14-hour shifts, seven days a week.

Since the coronavirus pandemic emptied the streets of passengers, the 58-year-old from South Korea has been living on about $65 a day. He buys near-expired, discounted food that he rations to last the week. Two meals of the day consist of the cheapest brand of ramen noodles he can find. “Forget about nutrition,” he says.

Warning: Never hire a debt settlement company

Submitted by Anonymous (not verified) on Fri, 05/15/2020 - 17:33

From: Asian JournalMay 13, 2020By: Atty. Raymond Bulaon A LOT of people who are burdened with credit card debt often don’t know where to turn for help. They see all the ads on TV, internet, etc. by so-called “debt consolidation” or “debt settlement” companies hoping that this will get them out of debt without filing for bankruptcy. More often than not, however, they end up either getting scammed or disappointed when those companies cannot deliver the big promises made.

Small Business Reorganizations under New Subchapter V-copy of James Shenwick Outline to be presented at World Wide Land Transfer on Wednesday May 27 2020 at 10.00AM to 11.30AM

Submitted by Anonymous (not verified) on Tue, 05/12/2020 - 20:18

Small Business Reorganizations under New Subchapter V of Chapter 11 of the Bankruptcy Code The purpose of this class will be  to discuss  the changes to the new Subchapter V of the bankruptcy code and its impact on small business reorganizations.On August 23, 2019, President Trump signed into law the Small Business Reorganization Act of 2019 (“SBRA”), Pub. L. No. 116-54 (2019).

A new bankruptcy law could prove a big help for small businesses. Here’s everything you need to know FORTUNE MAY 11, 2020

Submitted by Anonymous (not verified) on Tue, 05/12/2020 - 17:33

As the coronavirus shutdowns continue to strain companies across the U.S., many small businesses are now facing a tough decision: whether or not to file for bankruptcy.

As Restaurants Remain Shuttered, American Cities Fear the Future New York Times May 7, 2020

Submitted by Anonymous (not verified) on Mon, 05/11/2020 - 17:48

Restaurants have become the economic lifeblood for many cities. The coronavirus threatens to take away more than just delicious food.

The change in Botanical Heights started with a single restaurant.

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