Articles from Shenwick & Associates

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NYT: Disabled Borrowers Trade Loan Debt for a Tax Bill From the I.R.S.

Submitted by Anonymous (not verified) on Mon, 03/31/2014 - 21:14

By Tara Siegel Bernard
Six months after his wife learned that she had a rare vascular disease of the brain,
Frank, now 66, lost his job as director of sales of a telecommunications company.
His wife, to whom he had been married for 36 years, died just two months later.
He was still grieving when he learned that he had kidney cancer. The tumor
was operable, but the exam brought to light a long list of other serious problems,
including a pulmonary embolism and a heart-rhythm disorder.

NYT: A Lawyer and Partner, and Also Bankrupt

Submitted by Anonymous (not verified) on Mon, 01/27/2014 - 17:55

By James B. Stewart

Anyone who wonders why law school applications are plunging and there’s
widespread malaise in many big law firms might consider the case of Gregory M.
Owens.

The silver-haired, distinguished-looking Mr. Owens would seem the
embodiment of a successful Wall Street lawyer. A graduate of Denison University
and Vanderbilt Law School, Mr. Owens moved to New York City and was named a
partner at the then old-line law firm of Dewey, Ballantine, Bushby, Palmer &
Wood, and after a merger, at Dewey & LeBoeuf.

NYT: Loan Monitor Is Accused of Ruthless Tactics on Student Debt

Submitted by Anonymous (not verified) on Thu, 01/02/2014 - 17:33

By NATALIE KITROEFF Stacy Jorgensen fought her way through pancreatic cancer. But her struggle was just beginning.
Before she became ill, Ms. Jorgensen took out $43,000 in student loans. As her payments piled up along with medical bills, she took the unusual step of filing for bankruptcy, requiring legal proof of “undue hardship.”

Santiago-Monteverde v. Pereira

Submitted by Anonymous (not verified) on Mon, 10/28/2013 - 22:15

NYT: Widow’s Bankruptcy Case Poses Risk to Rent-Stabilized Tenants

Submitted by Anonymous (not verified) on Mon, 10/21/2013 - 18:09

By MIREYA NAVARROAfter her husband died, Mary Veronica Santiago fell behind on her bills, and the creditors began to call.

NYT: Patients Mired in Costly Credit From Doctors

Submitted by Anonymous (not verified) on Mon, 10/14/2013 - 17:22

By JESSICA SILVER-GREENBERG The dentist set to work, tapping and probing, then put down his tools and delivered the news. His patient, Patricia Gannon, needed a partial denture. The cost: more than $5,700.

Rent stabilized leases in Chapter 7 bankruptcy (continued)

Submitted by Anonymous (not verified) on Thu, 10/03/2013 - 17:42

As many readers of our e-mails and blog are aware, if an individual resides in an apartment with a rent controlled or rent stabilized lease and files for personal bankruptcy under Chapter 7 of the Bankruptcy Code, the trustee assigned to the case can assume, assign and transfer the bankruptcy estate's rights and interests in the lease to the landlord, pursuant to § 365 of the Bankruptc

Manhattan Office Leasing

Submitted by Anonymous (not verified) on Thu, 08/22/2013 - 17:33

Here at Shenwick & Associates, we are seeing a significant uptick in reviewing and negotiating commercial leases. For those who have never leased commercial office space in Manhattan, you need to be aware that the market and leasing terms are unlike any other commercial real estate market in America. Here are seven provisions that all commercial tenants should request when negotiating an office lease in Manhattan. Failing to consider these points can cost a tenant a significant amount of money and aggravation.

WSJ: Creditor-Proof Trusts Replacing Offshore Accounts

Submitted by Anonymous (not verified) on Tue, 08/13/2013 - 17:29

    By ARDEN DALE

    As offshore accounts draw greater scrutiny, some financial advisers are having their clients use a special trust as an alternative strategy to shield their assets from potential lawsuits.

    So far, 15 states allow the creation of domestic asset protection trusts, which safeguard securities or other assets of the owner. In the past, they weren't widely used and few states allowed them.

    Adversary Proceedings 101

    Submitted by Anonymous (not verified) on Wed, 07/31/2013 - 17:42

    Here at Shenwick & Associates, our summer is busy with (among other matters), representing clients in adversary proceedings. An adversary proceeding is a lawsuit that is brought within a bankruptcy proceeding and based on conflicting claims, usually between the debtor (or the bankruptcy trustee) and a creditor or other interested party.

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