After a New York Bankruptcy

After receiving a discharge from the bankruptcy court in New York, most prior debt will no longer exist and debtor keeps any money acquired after discharge. To prevent getting into bankruptcy again, make a budget to control impulses to overspend. Save cash to become independent of credit until the big purchase items come along. The […]

Bankruptcy May Deter Employment

In Rea v. Federated Investors, 627 F.3d 937 (3d Cir. 2010), the court made clear the differences between public and private employers’ abilities to consider bankruptcy as a factor in the hiring process. The case makes people think twice about bankruptcy because bankruptcy may hurt someone’s employment opportunities, not just the credit score. The Federal […]

Bankruptcy and Intellectual Property

Intellectual property smacks with bankruptcy when a technology licensor has a debtor licensee who wants to assign the licensed rights to a licensor competitor. The Bankruptcy Code provides a debtor protection from spending to perform contract obligations with agreements are executory contracts. These agreements have material terms not yet performed by each party. For example, […]

Creditors Rights Endorsement in New York

Title companies discontinued effective March 8, 2010 offering as a standard the American Land Title Association (ALTA) 21 endorsement, also known as the “creditor’s rights endorsement”. This provided New York lenders and owners with title insurance protection for losses or damages arising out of voidable estate or interest in property, including a mortgage, resulting from […]