bankruptcy law

Giuliani Seeks to Alter Bankruptcy to Speed Asset Sale but Keep Future Income

Rudolph W. Giuliani told a bankruptcy court on Monday that he would like to have his assets sold to pay his creditors, including two Georgia election workers he defamed in his efforts to keep former President Donald J. Trump in office after the 2020 election.

Mr. Giuliani asked the bankruptcy court to convert his case from what is known as Chapter 11 to Chapter 7, which would put an independent trustee in charge of his assets, similar to what the creditors requested.

Mr. Giuliani, who filed for bankruptcy in December, has listed about $11 million in assets, most of which come from two properties he owns in New York and Palm Beach, Fla. In court filings, he has disclosed that he owes about 20 people and businesses about $153 million, including $148 million to the two election workers, Ruby Freeman and Shaye Moss.

After months of absent, late and incomplete filings, lawyers for his creditors recently asked the court to hold the former New York City mayor in contempt and to impose penalties. They have previously expressed concerns that he is hiding income. Last month, they asked the court to appoint an independent trustee to take over Mr. Giuliani’s

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July 2, 2024 by ATTORNEY

5 ‘must-haves’ to finding a bankruptcy lawyer

5 ‘must-haves’ to finding a bankruptcy lawyer

Key takeaways

  • When seeking a lawyer to guide you through the bankruptcy process, it is crucial to choose a specialist in bankruptcy law.

  • Opt for a bankruptcy attorney with local expertise, well-versed in both bankruptcy laws and the specific procedures of the local court where your case will be filed.

  • Choose a bankruptcy attorney who provides personalized service, listens to your specific case details and makes you feel comfortable.

  • Avoid ‘bankruptcy mills’ and non-attorney petition preparers and prioritize a lawyer who understands your situation.

If you are considering filing for bankruptcy, your best bet for a successful outcome is to choose a good bankruptcy lawyer. Although it is possible to file for bankruptcy on your own without hiring an attorney, it is not advisable to do so. Obtaining the help of a specialist who is experienced and can offer expertise in both federal and local law is essential, as they will be able to provide you with personalized service for your case and provide the comfort and familiarity needed to get through this challenging process.

1. Look for a specialist

Lawyers practice in multiple areas and your best bet would be to go with someone who specializes in bankruptcy

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December 1, 2023 by ATTORNEY

Bankruptcy Lawyer Daniel Straffi Sheds Light on New Jersey Bankruptcy Laws in Latest Article

Bankruptcy lawyer Daniel Straffi of Straffi & Straffi Attorneys at Law has recently published an insightful article that delves into the complexities of bankruptcy law in New Jersey. The piece offers an in-depth understanding of these laws and aims to help individuals and businesses navigate the arduous process of bankruptcy.

In the opening paragraphs, the bankruptcy lawyer establishes the firm’s commitment to providing compassionate, diligent, and honest services to all clients. Emphasizing the firm’s down-to-earth approach, Straffi illustrates their readiness to assist clients with a myriad of legal counsel needs, including bankruptcy and family law issues, in Brick NJ, and Toms River NJ.

In the article, bankruptcy lawyer Daniel Straffi writes, “Individuals strive to prevent financial hardship throughout their lives. Unfortunately, despite their best intentions and meticulous planning, it is still possible for hard times to come without warning leading to overwhelming debts.” He proceeds to discuss the intertwining complexities of bankruptcy and divorce, two of the most stressful events in a person’s life.

Understanding the unique challenges that come with facing bankruptcy and family law issues concurrently, Straffi & Straffi have positioned themselves as a supportive and friendly resource for their clients. “Our team of attorneys is ready

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October 9, 2023 by ATTORNEY

J&J Is Left Weighing Options After Second Talc Bankruptcy Tossed

Johnson & Johnson may be forced to pivot to other legal avenues to resolve tens of thousands of cancer claims after its latest bankruptcy court setback.

J&J cannot use the bankruptcy of its subsidiary, LTL Management LLC, to settle claims that its talc-based products, like baby powder, caused cancer, Judge Michael Kaplan of the US Bankruptcy Court for the District of New Jersey ruled July 28.

The ruling leaves J&J boxed out of its preferred venue to settle the claims, although the company said it would appeal. Aside from an appeal, J&J can settle individual claims, negotiate with plaintiff firms or pursue a global settlement.

J&J didn’t immediately respond to a request for comment. Lawyers pursuing claims against the company are weighing next steps, and some have said they are continuing to discuss a resolution with J&J.

Although it would be more challenging for the company to resolve all claims through mass tort litigation,“there are ways of resolving this outside of bankruptcy,” said Otterbourg PC attorney Adam Silverstein, who represents the official committee of claimants in the LTL bankruptcy.

LTL was not in “imminent and immediate financial distress” and therefore did not qualify for the benefits of bankruptcy, Kaplan ruled.

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August 4, 2023 by ATTORNEY

U.S. Supreme Court says bankruptcy law overrides tribal sovereignty

  • Justice Jackson ruled that bankruptcy law treats tribes the same as other governments
  • Tribe argued it was neither a “foreign” nor “domestic” government
  • Dispute centered on a tribe’s effort to collect an overdue $1,100 payday loan

NEW YORK (Reuters) – The U.S. Supreme Court ruled on Thursday that U.S. bankruptcy protections override a Native American tribe’s sovereign immunity, stopping the tribe’s effort to collect on an overdue payday loan taken out by one of its members who subsequently filed for bankruptcy.

In an 8-1 opinion written by Justice Ketanji Brown Jackson, the court ruled that U.S. bankruptcy law applies to all creditors and “abrogates the sovereign immunity of any and every government,” including tribes. Tribal governments are not entitled to an exception solely because the U.S. bankruptcy code does not specifically mention Indian tribes when describing how it applies to governments, Jackson wrote.

The Wisconsin-based Lac du Flambeau Band of Lake Superior Chippewa Indians had petitioned the Supreme Court after an appeals court rejected its effort to collect on a high-interest $1,100 payday loan extended to Brian Coughlin, a member of the tribe. Coughlin had borrowed the money from the tribe-owned business Lendgreen in 2019, but he filed for Chapter

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June 24, 2023 by ATTORNEY
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