Software sales trainer Prehired loses bid to keep bankruptcy in N.Y.

(Reuters) – A New York bankruptcy judge on Tuesday transferred the bankruptcy of Prehired LLC to Delaware, ruling that the software sales training company did not have sufficient business ties to New York to file for bankruptcy in the state.

U.S. Bankruptcy Judge Philip Bentley granted the transfer at the request of Delaware’s attorney general, one of several state AGs investigating Prehired for its attempts to collect on payment agreements that allowed students to defer fees for career training.

Prehired filed for Chapter 11 protection in New York in September, citing students’ failure to pay for sales training and state attorney general investigations into its attempt to collect money from former students. Prehired requires its students to pay $30,000 in $500 monthly installments after they land a job in the field of software sales.

Delaware Deputy Attorney General Katherine Devanney argued that Prehired’s bankruptcy case should be heard in Delaware, where the company is incorporated and where it sued 289 former students who did not make payments after completing Prehired’s training.

Prehired’s attorney Christopher Warren argued that the bankruptcy case should remain in New York because its principal assets are contracts based on New York law. The assets are mostly

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October 30, 2022 by ATTORNEY

Holy Ground Tiny Homes builder under criminal investigation, bankruptcy

ENGLEWOOD, Colo. (KDVR) — A convicted felon who promised to build people their tiny dream home has instead filed for bankruptcy and faces an investigation by the Englewood Police Department.

Matthew Sowash and his attorneys did not return phone calls or emails to the Problem Solvers, but FOX31 spoke to multiple people who fear they could be out of their life’s savings.

“I really hope he’s not a fraudster,” Samara Nait, a 24-year-old mom with a 3-year-old daughter, said.

She was the first customer the Problem Solvers interviewed back in September.

At the time she was living out of her car because the 400-square-foot tiny home she paid for in full, $64,000, never arrived in Paonia by Sept. 1.

“It’s super stressful. I mean I feel like I have no other choice but to just trust that he’s going to come through because I don’t even want to think about losing that money,” Nait said.

Status of Sowash’s tiny home business

The day before FOX31 interviewed Nait, she showed up at the Holy Ground Real Estate warehouse in Englewood, where the tiny homes are built, to ask for her house or a refund.

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October 29, 2022 by ATTORNEY

Chapter 7 Bankruptcy: What to Expect & How Bankruptcy Works | Business

Filing for bankruptcy is never an easy choice.

But sometimes, it can feel like the only way to escape the vice grip of debt and move on with life.

Most personal bankruptcy filers will turn to a Chapter 7 bankruptcy, which offers almost total debt forgiveness and a quick discharge time.

But before you can get a fresh start from a Chapter 7 bankruptcy, you should know the basics — and what to expect from the bankruptcy process.

What Is Chapter 7 Bankruptcy?

In researching your options, you’ll find there are two common types of bankruptcy for individuals and couples: Chapter 7 and Chapter 13. While similar in many ways, they differ in some big areas.

Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” is a bankruptcy by which individuals or couples who are deemed to not have a high enough income to pay back debts can absolve themselves through liquidating their assets. You can include both secured debts and unsecured debts.

If the liquidation doesn’t cover the entire debt, then the remaining balance is typically forgiven.

Chapter 13 bankruptcy, also known as “wage-earner bankruptcy,” is for those whose income or other qualifiers make them ineligible

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October 28, 2022 by ATTORNEY

Moskovits, Lichtenstein Lose Stake in Williamsburg Apartments

Moskovits, Lichtenstein Lose Stake in Williamsburg Apartments
Moskovits, Lichtenstein Lose Stake in Williamsburg Apartments

From left: Hutton Capital’s Ron Friedman, BridgeCity’s Allan Lebovits, Toby Moskovits, and Heritage Partners’ Michael Lichtenstein along with 225-227 Grand Street in Brooklyn (Getty, Google Maps, Hutton Capital, BridgeCity, Heritage Partners)

The apartment and retail building at 225-227 Grand Street in Williamsburg cemented Toby Moskovits’ rise as a Brooklyn developer. Now it could represent her fall.

The 41-unit property has been sold at a bankruptcy auction to the sole bidder: its mezzanine lender, an entity that includes Hutton Capital’s Ron Friedman, Rosewood Realty’s Aaron Jungreis and BridgeCity Capital’s Allan Lebovits.

It’s the latest sign of trouble for Moskovits and business partner Michael Lichtenstein, who lost control of the nearby Williamsburg Hotel to a trustee in June as part of a separate bankruptcy.

The saga of 227 Grand Street involves some of the biggest players in Brooklyn real estate.

A decade ago, Moskovits’ firm tapped prolific architect Karl Fisher to design the building, whose oversized black windows, red brick facade and expansive rooftop symbolized Williamsburg’s cool industrial aesthetic at a time when the neighborhood was still evolving into a haven for well-to-do millennials.

In 2011, Moskovits turned to up and coming Brooklyn landlord Yoel Goldman to invest in the project,

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October 22, 2022 by ATTORNEY

Alex Jones arms for verdict fight with Sandy Hook parents

Alex Jones is not rushing into bankruptcy protection after a Connecticut jury ordered him to pay $965 million in defamation damages to eight Sandy Hook families last week, his attorney said on Monday.

“[T]here is simply no need for a bankruptcy filing until the appellate courts have handled these cases on appeal,” said Jones’ bankruptcy attorney Shelby Jordan, speaking not only of the eye-opening Connecticut verdict but the $49 million a Texas jury ordered Jones to pay in August to parents of a slain Sandy Hook boy Jones defamed. “Keep in mind that these judgments were obtained by barring almost all defensive testimony to the damage claims made and in particular allowing the jury to hear only one side of that evidence.”

The first post-verdict fight will come on Thursday where Jones will ask a Texas judge to apply the state law’s $750,000 limit on punitive damages in civil cases, and deny a claim by the Sandy Hook parents that they are exempt from the cap because of their severe emotional suffering.

The two sides couldn’t be further apart.

The parents of the slain Sandy Hook boy argue they’re entitled to the $45 million in punitive damages the jury awarded

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October 20, 2022 by ATTORNEY
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