Chapter 11 Bankruptcy in New York

In July 2010, crain’s new york business.com reported a Manhattan-based tour operator, Travel Span, filed Chapter 11 bankruptcy protection, listing more than $7.1 million in debt. Travel Span booked discounted vacation packages, and airline tickets to the Caribbean, India, and Europe. It had offices in Queens and Brooklyn. Travel Span’s bankruptcy filing listed hotels, landlords, […]

Single Asset Real Estate Cases in New York

According to the Bankruptcy Code, single asset real estate (SARE) means: [R]eal property constituting a single property or project, other than residential real property with fewer than 4 residential units, which generates substantially all of the gross income of a debtor who is not a family farmer and on which no substantial business is being […]

Small Business Bankruptcies in New York

In March 2010, crain’s new york business.com reported that after being found in violation of wage and hour labor laws, Ollie’s Noodle Shop & Grille filed for Chapter 11 bankruptcy protection. The restaurant chain filed bankruptcy under the corporate entity of 1160 Third Avenue Food Service Inc. At the time of filing, Ollie’s had three […]

When Facing Bankruptcy, Hire a Lawyer

Bankruptcies are a growing concern for many homeowners and businessmen in our lagging economy. Many people are losing homes and livelihoods and finding themselves on the verge of being nearly penniless. People who are facing a bankruptcy and the onslaught of court appearances and paperwork that bankruptcies inevitably create need to be represented by a […]