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Ronald S. Cook, LLM, JD, MBA, MCT, CTT+ |
Suffolk: (631) 265-0102 Nassau: (516) 559-7219 Manhattan: (917) 464-3815 |
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October 2, 2008
A few weeks ago, I sent out note about an attorney program at the Suffolk bar association which was entitled “Depressed real estate, distressed clients.” Click Here for a quick recap of that event held on 9/17/08.
A few days later, I attended another attorney program at the Nassau Bar association which was entitled “Bankruptcy Roundtable 2008" which was held on 9/22/08. The panelists included three bankruptcy court judges which are here in our Eastern District (Hon. Dorothy D.T. Eisenberg, Hon. Robert E. Grossman, Hon. Alan S. Trust) as well as bankruptcy trustees and bankruptcy attorneys. I saw most of the Eastern District bankruptcy trustees in attendance at this event, and the large conference room at the Nassau Bar Association was packed with attorneys for the event.
The topics included local rule amendments, recent case law on consumer issues, risks of pre-bankruptcy asset planning, unique issues in Chapter 11 cases, selected landlord-tenant issues, etc. Given the current economic climate, I was not surprised that the program contained a lot about Chapter 11 bankruptcies. These permit reorganizations for business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, while Chapter 13 provides a reorganization process for the majority of private individuals. You have been reading about the large number if individuals filing for bankruptcy in our region in the local newspapers. A wave of business failures comes also parallels an economic downturn. I recently read an article indicating 80,000 jobs will be lost in tri-state area, in the near future, due to the financial firm failures.
On a more upbeat note... Besides assisting individuals and companies with financial crisis situations, I have also been very active in helping firms and individuals grow their businesses using advanced marketing technology. I had dinner with Brian Tracy last night along with a few dozen local leaders in the community. This event was sponsored by my friends at the Alternative Board. (Click Here for more information about the Alternative Board.) A big part of the discussion was how to grow your business in an increasingly competitive market. Last month I was in Arizona at a Tom Hopkins event which extensively covered how businesses can double their sales even in a tight economic climate. I also spent several days in Arizona last month with the amazing "techies" that work for a company called Infusionsoft regarding advanced marketing. Click Here to learn more about advanced marketing automation.
More later...
Regards,
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Copyright © 2008 Ronald S. Cook, P.C. Email: info@RonCookLaw.com |
