On February 22, 2023, in Bartenwerfer v. Buckley, 598 U.S. __ (2023), the U.S. Supreme Court ruled that a debtor who is liable for her partner’s fraud cannot discharge that debt in bankruptcy, regardless of her own...more
On December 30, 2022, New York Gov. Kathy Hochul signed into law the Foreclosure Abuse Prevention Act (the “Act”), which will hinder lenders and servicers’ ability to foreclose on New York homeowners. The Act makes the...more
Nonprofit hospitals, nursing homes and other care providers are now prohibited from placing liens on patient homes or garnishing patient wages to collect medical debts in New York.
Gov. Kathy Hochul signed the law...more
For the first time since 1981, New York will lower the interest rate on money judgments based on consumer debts from nine percent (9%) per annum to two percent (2%) per annum. Governor Kathy Hochul signed the bill, S5724-A,...more
On November 8, 2021, Governor Hochul signed into law the Consumer Credit Fairness Act (Legislation S.153/A.2382). The intent behind the legislation is to protect consumers from abusive debt collection practices. The Act...more
The Supreme Court of the United States recently issued a decision regarding the scope of the “automatic stay” codified at section 362 of the Bankruptcy Code. By way of background, the filing of a bankruptcy petition...more
The COVID-19 crisis has resulted in a state and federal response to provide immediate assistance to those individuals that have experienced financial hardship from the global pandemic.
In New York State, Governor Cuomo...more
The COVID-19 crises recently prompted the passage of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) which, in part, includes changes to the Bankruptcy Code of which financial institutions should be made...more
The state of emergency declared by both New York state and the Federal government due to the COVID-19 pandemic has caused significant economic disruptions for many businesses. We are all aware that these disruptions in turn...more
It is bad enough when a customer or borrower files for bankruptcy and you have to write off the debt, but things can get worse when you are then faced with a lawsuit to recover payments made within the 90 days prior to the...more
2/24/2020
/ Bankruptcy Code ,
Bankruptcy Reform ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Due Diligence ,
New Legislation ,
Preferential Transfers ,
Reorganizations ,
Section 547 ,
Small Business Reorganization Act of 2019 (SBRA)
Our series dedicated to maximizing collections on long-term care accounts now turns to the importance of the admission agreement. The admission agreement presents an opportunity for long-term care facilities and nursing homes...more
2/3/2020
/ Admissions ,
Applications ,
Assisted Living Facilities (ALFs) ,
Elder Care ,
Elder Issues ,
Governor Cuomo ,
Long Term Care Facilities ,
Long-Term Care ,
New Legislation ,
Nursing Homes ,
Pay Rates
To continue our series on strategies for maximizing collections on long-term care accounts, we're focusing on the first steps: vetting the applicant by gathering the information that you'll want to have upon application for...more
As Baby Boomers have aged into needing medical care beyond what can be provided at home, the long-term care market has both staggering opportunity to grow and daunting challenges to face. The CDC reported in 2016 that 65,500...more