Bankruptcy cases are filed each day in the United States by parties seeking debt relief. Individuals and couples seek relief from the bankruptcy court, but there are also thousands of business bankruptcy cases filed by companies each year. Companies are not permitted to file a Chapter 13 bankruptcy case. However, a bankruptcy lawyer can assist companies and businesses as they seek debt relief by filing Chapter 7 bankruptcy cases and Chapter 11 bankruptcy cases.
The tech titan just released the polished version of the Apple Watch, with a meld of pioneering components to help consumers live a safe and healthy lifestyle. Along with an enhanced electric heart sensor, the Apple Watch Series 4 can now lend a hand during a crisis situation.
On October 29, 2018, New Jersey’s Paid Sick Leave Act will become effective. The Act will provide eligible employees with paid leave associated with tending to their own medical needs as well as the medical needs of family members.
On Sunday, the Tulsa-founded aerospace manufacturer and repair company The NORDAM Group Inc. filed a voluntary Chapter 11 bankruptcy petition aiming to reorganize their business. The CEO, Meredith Madden, of NORDAM, believed filing bankruptcy was not the route they originally desired, but what the company desperately needed—as it preserved NORDAM Group's operations without disruption. The company says the bankruptcy filing comes subsequent to a protracted contract dispute with Pratt & Whitney Canada over engine nacelles for the Gulfstream G500 and G600.
Recently, I successfully represented a creditor in seeking to dismiss a debtor’s bankruptcy case for being filed in bad faith. In this case, we contested the Debtor’s use of phantom expenses for purposes of passing the means test. Also, we contested the filing of the bankruptcy case pursuant to the totality of the circumstances based on the fact that the Debtor had about $1,922.00 in monthly disposable income that should have been used in a debt repayment plan towards his creditors.
Toys R Us filed for Chapter 11 Bankruptcy last fall, but their recent announcement of liquidation of their stores could put employees at risk.
When a large corporation files for Chapter 11 Bankruptcy, the effects are felt by many. The Toys R Us liquidation is no expectation here in New Jersey. Attorney John Scura speaks with News 12 about what this means for employees as well as for customers who hold gift cards.
Scura, Wigfield, Heyer, Stevens & Cammarota, LLC encourages employees to check how their pensions are set up and make sure they are covered.
News 12 New Jersey
Posted: Mar 15, 2018
A possible liquidation of all Toys R Us stores in the United States could put 30,000 people out of work.
The Wayne-based toy retail giant apparently broke the news to its employees Wednesday, according to a toy industry analyst. The chain filed for Chapter 11 bankruptcy protection last fall.
Bankruptcy attorney John Scura says pensions for large corporations like Toys R Us are typically set up in separate, protected funds but this is the first thing employees should check.
"There could be a shortfall on certain payments that are made to it,” Scura says.
Scura, Wigfield, Heyer & Stevens, LLP is representing the DiNapoli family who recently filed a lawsuit stating an elderly man was killed in his Bloomfield apartment on Dec. 13, 2015 from extreme heat caused by a defective heating/cooling system.
Buying a new home is often regarded as an exciting time. Whether it is the homeowner's first home or not, purchasing a home is a major event. Moreover, it is a major financial responsibility that needs to be factored in whenever the homeowner makes any financial decisions. However, when an individual is dealing with financial troubles, those troubles could impact the homeowner's ability to make timely mortgage payments, which could unfortunately lead to foreclosure.
Expanding a business requires more than just a business plan. There must be additional capital, cash resources or another source of funds that will help leverage the process. When this is not available, it might mean putting this expansion on hold; however, if such a business venture is unavailable due to financial problems, a business might need to restructure its finances or even consider debt relief options.