Articles from Shenwick & Associates

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New York Magazine: Driven to Despair

Submitted by Anonymous (not verified) on Tue, 05/22/2018 - 20:49

By Jessica Bruder

Dischargeability of taxes in bankruptcy

Submitted by Anonymous (not verified) on Mon, 05/21/2018 - 21:42

Here at Shenwick & Associates, many clients, lawyers and accountants have called us regarding the discharge of taxes in bankruptcy filings.  Many kinds of “old” state and federal income taxes are dischargeable in bankruptcy. In the case of income taxes, they are dischargeable in Chapter 7 if all the following criteria are met:

New York Daily News: City sets aside sale of taxi medallions as their value plummets

Submitted by Anonymous (not verified) on Wed, 05/16/2018 - 17:53

By Dan Rivoli and Erin Durkin

The city has indefinitely pushed off selling more taxi medallions as the market for the once-valuable medallions continues to plunge.
Mayor de Blasio's executive budget assumes no cash will come in from taxi medallion sales for the next five years.

New York Times: What Will New York Do About Its Uber Problem?

Submitted by Anonymous (not verified) on Tue, 05/08/2018 - 21:31

New Yorkers who can afford to avoid their dysfunctional subway system are spoiled for choice these days. In addition to long-established taxis, livery cabs, black cars and limousines, they can summon rides through Uber, Lyft, Via, Juno and other app-based ride-hailing and ride-sharing services.

April 2018 Taxi & Limousine Commission sales

Submitted by Anonymous (not verified) on Tue, 05/08/2018 - 18:54

The April 2018 New York City Taxi & Limousine Commission (TLC) sales results have been released to the public. And as is our practice, provided below are James Shenwick’s comments about those sales results.
1. The volume of sales continues to decline. In April, there were only 23 taxi medallion sales (excluding stock transfers).

Bloomberg-Taxi Cab Owners and Regulators Created Uber

Submitted by Anonymous (not verified) on Mon, 05/07/2018 - 19:12

By Barry Ritholtz

On this day May 4, 2011, Uber NYC launched. It filled an enormous, artificial void that was created by the Taxi and Limousine Commission at the behest of the Yellow Cab medallion owners.

A ray of hope for (some) student loan debtors

Submitted by Anonymous (not verified) on Thu, 04/12/2018 - 18:29

Here at Shenwick & Associates, many of the people we work with have student loan debt.  This should come as no surprise, considering that Americans owe more in student loan debt than credit card debt.  We’ve written about student loan debt and how difficult it is to discharge in bankruptcy previously (mostly recently here).  This month, we wanted to tell you about a pending case that may offer hope f

Bloomberg: Trump Lawyer Said to Invest in Once-Valuable NYC Taxi Medallions

Submitted by Anonymous (not verified) on Wed, 04/11/2018 - 21:16

By

(Bloomberg) -- The FBI raid on the offices of President Donald Trump’s lawyer, Michael Cohen, included one surprising aspect: taxi medallions. Agents were seeking documents on Cohen’s ownership of “numerous” New York City taxi medallions, according to CNN.

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