Lawline Online Course: A field Manual for Involuntary Bankruptcies - Thursday, 11/5/2020 at 3:00pm EST
Make sure to Reserve your online seat - (Click Here)

Please Note: We are OPEN, continuing to represent clients and accepting new clients However, due to local directives, all meetings and interviews can be conducted via telephonic or video conferencing. Do not hesitate to contact us with any questions, concerns or requests for information. Our free 15 minute telephone consultation remains available.

Call For Free 15 Minute Consultation(212) 739-7599

Wayne Greenwald, P.C.

Business Debtors

Face-Saving for Embarrassed Entrepreneurs
  • On Behalf Of: Wayne Greenwald, P.C.
  • Published: September 24, 2015

The other day, I had a telephone call with a client; we’ll call him “Slim.” Slim was worried about the impact a venture’s winding up might have on his public image. His concern was that a creditor might blab to the press, which would then show him in a negative light. Slim is an entrepreneur and, as an entrepreneur, Slim assumes the risk of failing ventures. Most fail. I assume Slim’s reputation is built, in part, on his success. I also assume that his success rate is favorable. Failure’s Positives…Read More

Tech-Talk: We’ve Lost an Automatic Stay!
  • On Behalf Of: Wayne Greenwald, P.C.
  • Published: January 12, 2015

Technical bankruptcy procedure can be fun. So, here goes. Dueling Districts Imagine two bankruptcy cases, involving the same debtor or their affiliate in two different districts (e.g., Delaware and Wyoming). It’s likely that one set of interested parties (e.g., debtors, creditors, regulators) will find one of the venues inconvenient. Often, the second case’s filing responds to the first case’s inconvenient location. Federal Rule of Bankruptcy Procedure 1014(b) (“Rule 1014(b)”) provides a means for moving the inconvenient case to the preferred location. A motion is filed in the pending first case’s…Read More

A New York State Alternative to Chapter 11 for Judgment Debtors
  • On Behalf Of: Wayne Greenwald, P.C.
  • Published: November 13, 2014

Many things precipitate chapter 11 reorganization cases. Frequently, it’s a response to a judgment creditor’s efforts to enforce its money judgement. Those efforts interfere with customer relations, cash flow and the judgment debtor’s economic survival. Smart judgment creditors realize that crushing their judgment debtor won’t get them paid. Judgement debtors and creditors may not agree on what is destructive. That’s where a chapter 11 reorganization case comes in. It stops the enforcement efforts while the judgment debtor attempts to reorganize. While valuable, reorganization cases are not inexpensive. Cash-strapped judgment debtors…Read More