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

December 2012 Archives

Why area foreclosure numbers are so high

Even after doing everything right, homeowners can find themselves thrust into unforeseen economic hardships due to any number of reasons, from illness to unemployment. Missed payments can lead to mortgage lenders initiating court proceedings for home foreclosure. Each state has a different foreclosure process, and this can have an effect on statistical reports. Many people living in neighboring states commute to New York City for work, so their economic success is intertwined with that of the city.

Brooklyn hospital seeking bankruptcy protection

When a business is in financial trouble, it can file for bankruptcy to either liquidate its assets and go out of business or reorganize and try to stay afloat. The latter process is known as a Chapter 11 bankruptcy, and it offers a business the opportunity to enter into business debt negotiations with creditors. A Chapter 11 filing can be a complex situation, so any business considering this route should seek the advice of a professional who is knowledgeable about the process.

Hostess bakers' union needs Chapter 11 trustee

In difficult economic times, a business may seek to settle its debts through a Chapter 11 bankruptcy. Chapter 11 bankruptcy affords a business the opportunity to reorganize and restructure its debts as opposed to selling off all of its assets like in a Chapter 7 bankruptcy. However, when a large company, such as Hostess, decides to commit to a Chapter 11 bankruptcy, resolving disputes can get quite complicated.