Jeffrey M. Rosenblum, P.C.
A Fresh Start

October 2012 Archives

HMX Group filed for Chapter 11 a second time

Despite their differences, both President Barack Obama and his opponent, Mitt Romney, enjoy wearing Hart Shaffner Marx suits, a brand owned by suit company HMX Group. Unfortunately, HMX Group has found itself in financial trouble, having to file for Chapter 11 bankruptcy reorganization for the second time since 2009. While multiple filings through the years aren't uncommon for bankrupt New York businesses, the filings occurring so closely together indicate a company that's experiencing serious difficulties.

Long Island foreclosure relief scams prompt warnings

Three organizations have issued a warning to Long Island homeowners regarding con artists who falsely promise to stop home foreclosure. According to the U.S. Department of Housing and Urban Development, the New York state attorney general's office and Long Island Housing Services Inc., some creditors have been dishonest by "giving the false impression that they are affiliated with government programs, charging illegal up-front fees and executing fraudulent lease-back financing schemes."

American Airlines cites problems, improvements after Chapter 11

When a large corporation struggles through bankruptcy, it can often affect many areas of the business, including customer service and productivity. A Chapter 11 bankruptcy filing is often one of the more complicated forms of bankruptcy, because it involves the reorganization of debts and assets and relies on working with existing creditors

Roaming office brings legal advice to New York residents

The effects of the 2008 financial collapse are still being felt four years later as many homeowners struggle to stop home foreclosure. As many people know, New York, and especially Long Island, has been hit hard by the foreclosure crisis. Although the number rate may not as bad as other states, many people would agree that any number above zero is too high. However, residents in Centereach, on Long Island, got a little free help from a mobile legal clinic operated by a Manhattan-based law firm.

Bankruptcy of firm partly responsible for the film "Titanic" leads to asset sale

A business bankruptcy, whether it's a reorganization that keeps the firm in business or a business's liquidation, often involves the sale of assets belonging to that company. The bankruptcy of James Cameron's Digital Domain Productions included the sale of assets related to the company's stake in feature films, including part ownership in "Titanic" and the upcoming film "Ender's Game." The company filed for bankruptcy relief recently in federal court in New York and a week later filed for the same protection in Canada.