New York-based children's clothing retailer Ezrani 2 Corp. filed for Chapter 7 bankruptcy on June 18. The company operates a group of stores under the name of RUUM American Kid's Wear that sells clothing and accessories to boys and girls between the ages of 2 and 14....
Month: June 2015
Junior liens on property unable to be stripped in Chapter 7
New York mortgage lenders may have been relieved to learn that the U.S. Supreme Court recently reaffirmed a decision that Chapter 7 bankruptcy filers are not able to strip away a junior lien secured by real property. In its decision, issued on June 1, the Supreme...
How a Chapter 13 bankruptcy could benefit retirees
For many New York retirees, filing a Chapter 13 bankruptcy could be a prudent financial move, and this is particularly true if they have capitalized on their home's value by taking out second or third mortgages or home equity lines of credit. This is because a Chapter...
Supreme Court issues ruling on bankruptcy judges
The U.S. Supreme Court has recently released its decision on a case involving the ability of bankruptcy judges to make determinations on matters involving state law. In Wellness International Network, Ltd. v. Sharif, the majority of the court ruled that these...