Articles from Shenwick & Associates

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New York Times: ‘They Were Conned’: How Reckless Loans Devastated a Generation of Taxi Drivers

Submitted by Anonymous (not verified) on Mon, 05/20/2019 - 18:57

Yesterday, the New York Times published the first part of a devastating investigation into taxi medallion loans.  We highly recommend the article and will post further parts as soon as they become available.

The Student Borrower Bankruptcy Relief Act of 2019

Submitted by Anonymous (not verified) on Thu, 05/16/2019 - 19:14

Here at Shenwick & Associates, one of the most difficult issues for our clients (especially younger ones) is student loan debt, which is now over $1.5 trillion (that’s not a typo), far eclipsing other types of consumer debt.  As we’ve discussed many times in our posts, most courts follow the “undue hardship” Brunner tes

April 2019 TLC medallion sales

Submitted by Anonymous (not verified) on Thu, 05/16/2019 - 19:02

The April 2019 New York City Taxi & Limousine Commission (TLC) sales resultshave been released to the public. And as is our practice, provided below are Jim Shenwick’s comments about those sales results.
1. The volume of transfers rose from March. In April, there were 75 unrestricted taxi medallion sales.

Recommended consumer bankruptcy changes from the American Bankruptcy Institute

Submitted by Anonymous (not verified) on Mon, 05/13/2019 - 18:08

Here at Shenwick & Associates, spring is in the air and the A/C isn’t on yet.  One of things that we love about the law is that it’s always changing, and we do our best to keep up with new developments in bankruptcy law.

March 2019 TLC medallion sales

Submitted by Anonymous (not verified) on Wed, 04/10/2019 - 17:41

TheMarch 2019 New York City Taxi & Limousine Commission (TLC) sales resultshave been released to the public. And as is our practice, provided below are Jim Shenwick’s comments about those sales results.
1. The volume of transfers fell from February. In March, there were 38 unrestricted taxi medallion sales.

The potential impact of relief of indebtedness income on settlement agreements

Submitted by Anonymous (not verified) on Tue, 03/12/2019 - 17:39

Shenwick & Associates is happy to announce that we have just settled another taxi medallion debt with a favorable result for the client.

WPIX: Cabbies protest congestion pricing fee they now have to charge; it’s killing business, and drivers, they say

Submitted by Anonymous (not verified) on Tue, 03/12/2019 - 17:33

MIDTOWN, Manhattan -- It's a proposal that would affect almost every driver in New York City starting in 2021, if it passes the state legislature this year.

However, congestion pricing -- the plan that would charge drivers for driving in the southern third of Manhattan's streets -- has already been in effect for yellow and green cab drivers since February 2.
Many of the drivers say that the added cost is ruining their business. On Wednesday, dozens of cab drivers held a mobile, and very loud, protest against the surcharge outside of Gov. Andrew Cuomo's office.

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