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Category Archives: Uncategorized

Labor and union contracts holding American Airlines from exiting bankruptcy

American Airline’s parent company, AMR, recently filed for Chapter 11 bankruptcy protection. Articles have reported on the idea of a merger with US Airways, but after years of talk between labor groups and management, that idea seems to be out of the picture, putting pressure on AMR to resolve the nation’s third-largest airline’s finances by…Continue Reading

Bronx bankruptcy attorney discusses New York rehabilitation agency’s bankruptcy

  Daytop Village, one of New York’s oldest and largest drug rehabilitations agencies announced that they filed for a Chapter 11 bankruptcy protection, as reported by the New York Times in an April 6th, 2012 news article. In a statement released to the media, Daytop stated that they filed because of “extreme financial pressure from…Continue Reading

Financial Concerns for Recently Widowed

Losing one’s spouse comes with additional financial woes on top of the emotional. According to a New York Times article published September 3, 2011, the recently widowed may be more prone to falling into financial pitfalls. The death of a spouse can leave many financial issues left unattended, and women often take on these concerns.…Continue Reading

Supporting your child after you are gone

Parents always want the best for their children they encourage them to achieve greatness. But sometimes being over involved in a child’s life can lead to a child never being able to be an independent mature adult. Of course then the next issue that a parent has to deal with is, who is going to…Continue Reading

Massachusetts Port Authority dismissed from 9/11 lawsuit

In the last lawsuit related to the events of September 11, 2011, a federal judge dismissed the claim against the Massachusetts Port Authority, the Associated Press reports. “NY judge releases Mass. Agency from 9/11 lawsuit,” Associated Press, Wednesday, July 27, 2011. Mark Bavis, 31, died when he was aboard United Airlines Flight 175, the second…Continue Reading

Appaloosa Management sold off a good part of its holdings in Bank of America

Appaloosa Management, one of Bank of America’s most outspoken supporters, has apparently sold a significant amount of its stake in Bank of America, the New York Times reports. “Bank of America Shares Fall to Lowest Point in 2 Years,” The New York Times, Tuesday, August 9, 2011. Appaloosa Management is the big hedge fund run…Continue Reading

More people are getting adjustable-rate mortgages

  More people are becoming interested in adjustable-rate mortgages, The New York Times reports. “In Mortgages, ARM Is Back,” The New York Times, Saturday June 25, 2011. An adjustable-rate mortgage (ARM) is a loan in which the interest rate is fixed for a fixed period of time and adjusts annually after that. And according to…Continue Reading

Bank of America’s stock has been downgraded to underperform from outperform

  Mike Mayo, a well-regarded banking analyst, downgraded Bank’s of America’s stock to underperform from outperform, the New York Times reports. “Bank of America Shares Fall to Lowest Point in 2 Years,” The New York Times, Tuesday, August 9, 2011. Bank of America is facing a lot of setbacks recently. Shares in Bank of America…Continue Reading

A class action has been filed against Cooley Law School for allegedly inflating job statistics

    Students and graduates filed a class action against Thomas M. Cooley Law School alleging fraudulent inflation of post-employment graduation and salary statistics to lure prospective students, the New York Law Journal reports. “Suits Accuse New York Law School, Thomas Cooley of Job Statistics Fraud,” New York Law Journal, Thursday, August 11, 2011. According…Continue Reading

The nomination of a new director for the Consumer Financial Protection Bureau

President Barack Obama announced that he would nominate Richard Cordray, former Attorney General of Ohio, to lead the new Consumer Financial Protection Bureau, The New York Times reports. “Former Ohio Attorney General to Head New Consumer Agency,” The New York Times, Sunday July 17, 2011. As Attorney General, Mr. Cordray aggressively investigated mortgage foreclosure practices.…Continue Reading

Bronx bankruptcy lawyer comments on new discrimination affecting the unemployed

The unemployed face bigger troubles in finding a job. The New York Times reported on July 26th, 2011 that employers looking to hire are less likely to hire those who are currently unemployed. After reviewing many of the job placement websites it was found that many hiring employers are advertising that they “strongly prefer” or…Continue Reading

Bronx bankruptcy law firm shares news that billions in fines are not being collected

Many corporations and business people owe more than $65 billion in fines, and only a very small percentage is being paid, The New York Times reports. “Debt Collections Elude Uncle Sam,” The New York Times, Monday, July 4, 2011. For instance, in 2009 a court ruled that National Century Financial Enterprises, a health care finance…Continue Reading

Bronx attorney give subpoenas 101:

Many people have heard the legal term “subpoena” but do not fully understand what it is and how it works. To simply put it, the court system uses subpoenas to help obtain information needed to complete a trial case. There are two types of subpoenas; subpoenas ad testificandum and subpoenas duces tecum. A subpoena ad…Continue Reading

SALVATION ARMY SUES BANK OF NEW YORK MELLON FOR MISMANAGING ITS ASSETS

The Salvation Army sued the Bank of New York Mellon for $22 million accusing that this institution has mismanaged the charity’s assets, the New York Times reports. “Salvation Army Accuses Bank of Mismanaging its Assets,” The New York Times, Saturday, April 2, 2011. According to the lawsuit filed by the southern division of the Salvation…Continue Reading

Bronx attorney blog: The higher the mortgage the less governmental support

“For the last three years, federal agencies have backed new mortgages as large as $729,750 in desirable neighborhoods in high-cost states like California, New York, New Jersey, Connecticut and Massachusetts.” Stated an article from The New York Times on May 10th, 2011. But the federal government is starting to close up shop for those looking…Continue Reading

NEW YORK LAW FIRM REPORTS TIPS ON HOW TO GO PAPERLESS

One way to take better care of your finances is to keep all your documents electronically filed. Going paperless have several advantages, but it is a decision that should be done carefully, as explained in an article by Money magazine. “Going Paperless the Right Way,” Money, May 2011. Saving your financial documents electronically is better…Continue Reading

A Bronx family lawyer explains how to obtain a real estate property deed or mortgage.

  Before purchasing a piece of property a person should always check the property’s deed and mortgage history. This information can be easily found online at http://www.nyc.gov/html/dof/html/jump/acris.shtml. Here is a step-by-step guide in finding this information. Step-by-Step: 1) Click on the website listed above. It should take you a website called ACRIS 2) Next, click…Continue Reading

Bronx financial attorney comments on Citigroup’s lack of security

    Citigroup has joined the recently growing list of large companies that have fallen victim to hackers. But the public has been chastising Citigroup instead of giving sympathy, as reported in a June 10th, 2011 New York Times article “Citi Data Theft Points Up a Nagging Problem.” Citigroup’s failure to inform their clients until…Continue Reading

BRONX ATTORNEY ON NEW YORK COURT CUTS

    Budget cuts in the courts has resulted in an overall slower court system. The New York Times reported on May 16th, 2011, that $170 million have been cut from the court’s funding. New York is not the only state to feel these cuts in their judicial system. States like Georgia, Maine, Nevada, Oklahoma,…Continue Reading