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New York Times: Why Companies Like Toys ‘R’ Us Love to Go Bust in Richmond, Va.

Submitted by Anonymous (not verified) on Wed, 11/15/2017 - 20:34

By Michael Corkery and Jessica Silver Greenberg

The Toys “R” Us world headquarters are on a sprawling wooded campus next to a
reservoir in Wayne, N.J., on a street that bears the name of the company’s iconic
mascot, Geoffrey the giraffe.

But in September, when Toys “R” Us filed for one of the largest bankruptcies of
the year, it did not go to nearby Newark.

When is a tax return not a tax return?

Submitted by Anonymous (not verified) on Tue, 11/14/2017 - 18:40

New York Times: Behind the Lucrative Assembly Line of Student Debt Lawsuits

Submitted by Anonymous (not verified) on Mon, 11/13/2017 - 21:14

By STACY COWLEY and JESSICA SILVER-GREENBERG

A woman in a suburb of Columbus, Ohio, was sued twice, by two different creditors,
over the same overdue student loan. Another person, in Illinois, was taken to court
over a loan that had already been paid off. And hundreds of borrowers faced lawsuits
over debts so old that they were no longer legally collectible.

Installment agreements and dischargeability of taxes

Submitted by Anonymous (not verified) on Mon, 11/06/2017 - 21:34

Here at Shenwick & Associates, many clients, lawyers and accountants have contacted 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:

What's a taxi medallion worth these days?

Submitted by Anonymous (not verified) on Wed, 09/20/2017 - 19:46

Taxi Medallion Litigation-An Update

Submitted by Anonymous (not verified) on Tue, 09/19/2017 - 22:26

New York Times: Taxi Medallions, Once a Safe Investment, Now Drag Owners Into Debt

Submitted by Anonymous (not verified) on Wed, 09/13/2017 - 23:03

By WINNIE HU

Owning a yellow cab has left Issa Isac in deep debt and facing a precarious future.
It was not supposed to turn out this way when Mr. Isac slid behind the wheel in
2005. Soon he was earning $200 a night driving. Three years later, he borrowed
$335,000 to buy a New York City taxi medallion, which gave him the right to operate
his own cab.

Taxi medallions lenders enter conservatorship

Submitted by Anonymous (not verified) on Thu, 08/31/2017 - 18:20

Here at Shenwick & Associates, we’ve been paying close attention to developments concerning the plummeting values of New York City taxicab medallions.  A client we’ve been working with sent us this AP story last month that describes how the taxicab medallion crash isn’t just affecting owners of medallions and cab drivers, but has spread to lending companies.

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