Lakewood Bankruptcy Attorney Daniel Straffi Announces Service Area Expansion in Lakewood Neighborhoods

Bankruptcy attorney Daniel Straffi of Straffi & Straffi Attorneys at Law is set to expand their area of service to new neighborhoods within Lakewood. This move comes as a part of their continued commitment to provide legal assistance to the residents of the city.

Lakewood, a vibrant city located in the heart of Ocean County, New Jersey, has a rich history dating back to its inception in the late 19th century. It has seen significant growth over the years, becoming a bustling hub of culture, commerce, and community. The city’s geographical location, nestled between the Metedeconk River to its north and the South Branch Metedeconk River to its south, provides a unique blend of urban and suburban living.

The city’s landscape is a testament to its distinct history. One of its notable landmarks, Lake Carasaljo, a sprawling 300-acre lake, offers residents a serene environment for recreational activities. This natural wonder, situated within Lakewood, is a beloved spot for outdoor lovers, offering opportunities for boating, fishing, or simply enjoying the tranquility of nature.

Lakewood is also home to FirstEnergy Park, a popular destination for sports fans. This ballpark, known for hosting the Lakewood BlueClaws, a minor league baseball team,

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October 8, 2023 by ATTORNEY

Parishes, schools to be shielded from lawsuits in Archdiocese of Baltimore bankruptcy for now

A federal bankruptcy judge on Tuesday agreed to shield the Archdiocese of Baltimore’s parishes and schools from lawsuits, at least for now, in order to protect insurance policies that are likely some of the archdiocese’s most important assets.

The decision means that childhood sexual abuse survivors will not be able to file lawsuits against an individual parish or school if the institution was covered by the same insurance policy as the archdiocese.

The judge’s order shielding those institutions is preliminary. A legal fight over the church’s assets is almost certain to come later as plaintiff’s lawyers seek compensation and other benefits for sexual abuse victims in the bankruptcy.

The archdiocese’s lawyers on Tuesday presented the move as an effort to shield assets that will later be distributed among victims with claims against abusive members of the clergy and church officials that protected them.

RELATED: Maryland’s Child Victims Act takes effect: What to expect in the days ahead

If survivors file lawsuits against individual parishes that are covered by the same insurance policies as the archdiocese, their potential winnings in court would diminish the total amount available for distribution from the policies later, they said.

U.S. Bankruptcy Judge Michelle M. Harner

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October 5, 2023 by ATTORNEY

The Purdue Case: Can the Rich Use Bankruptcy Law as Cover?

Upholding the Sackler release “would leave in place a roadmap for wealthy corporations and individuals
to misuse the bankruptcy system to avoid mass tort liability,” the solicitor general wrote to the Supreme Court. The justices agreed to hear the case
in December—and to pause Purdue’s plan in the meantime.

In sometimes stark language, a number of law professors argue in
amicus briefs that the rationale invoked by the Second Circuit panel is being
used to protect people outside bankruptcy and to strip survivors and others of
their fundamental right to sue and be heard, forcing some of them to take a
deal they don’t agree to. They brand the Sackler release as “abusive,”
a “moral hazard,” and a “descent into lawlessness” in Chapter 11. 

A group of Canadian municipalities and First Nations protest the
Sackler release—which voters did not get to approve separately—as barring
“anyone, anywhere, anytime, from filing an opioid-related claim against
thousands of individuals and entities—including generations of Sackler
family members born and unborn, along with officers, directors, trustees and
others for Purdue and its related entities—for their roles in directing,
assisting, and facilitating Purdue’s misconduct.”

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October 4, 2023 by ATTORNEY

The Lawyers Sam Bankman-Fried Once Trusted Are Drawing Criticism

Just before FTX collapsed in November, one of its outside lawyers at the law firm Sullivan & Cromwell emailed a colleague at another firm, insisting that the cryptocurrency exchange’s finances were stable.

Rumors of FTX’s demise were “silliness,” the lawyer, Andrew Dietderich, wrote. “FTX is rock solid, doesn’t use customer funds or take credit risk at all,” he said.

Four days later, FTX filed for bankruptcy. Mr. Dietderich quickly arranged for Sam Bankman-Fried, the exchange’s founder, to step down so that a new chief executive, John Jay Ray III, a specialist in corporate turnarounds, could lead the company. When Mr. Ray needed lawyers to manage the bankruptcy, a lucrative assignment, he asked a judge to appoint the same ones who had helped get him the job: Sullivan & Cromwell.

Now, with Mr. Bankman-Fried set to go on trial next month on fraud charges stemming from FTX’s failure, Sullivan & Cromwell’s tangled history with the exchange is drawing scrutiny — especially from Mr. Bankman-Fried’s lawyers and family.

For months, Mr. Bankman-Fried has attacked Sullivan & Cromwell in court papers and on social media, arguing that the firm’s lawyers set him up as the fall guy for FTX’s implosion while downplaying their

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September 24, 2023 by ATTORNEY

Unclaimed Funds Pose Profit Potential For Bittrex’s Bankruptcy

(MENAFN- CoinXposure) Bittrex, which filed for bankruptcy in May, may still be profitable because consumers are not claiming their funds .

The U.S. Secret Service was a significant patron, with millions in the cryptocurrency exchange.

Most crypto bankruptcies are tales of anguish and loss: Anguished ex-customers of FTX or Celssign up and hope to recover a portion of their holdings one day.

Not so for Bittrex’s U.S. subsidiary, which is having trouble convincing over a million creditors to shut up and accept their money, potentially resulting in a profitable Chapter 11 bankruptcy estate.

Since May, and now that the deadline for filing a claim has passed, just under 36,000 customers have withdrawn approximately $143 million worth of cryptocurrency , the company’s attorney told a Delaware court Wednesday.

After the company’s U.S. and Maltese branches filed for bankruptcy in May, emails were sent to a small portion of its 1.6 million customers, imploring them to withdraw.

“One of the questions we wanted to answer was why our participation rates are so low,” Tomasaid, adding that some customers may have been reluctant to provide the additional personal information required for anti-money laundering checks to claim a relatively modest amount.

They are

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September 21, 2023 by ATTORNEY
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