The Advisory Committee on Bankruptcy Rules for the Judicial Conference of the United States which is made up of federal judges, bankruptcy attorneys, and others, proposed amendments to Bankruptcy Rules 1007, 2015, 3001, 7054, and 7056. This Alert focuses on Bankruptcy Rule 3001.

NEW YORK, NY – On October 18, 2012, the New York Court of Appeals held that federal credit unions are subject to New York State’s Mortgage Recording Tax.  The Mortgage Recording Tax requires a payment to New York State of one half of one percent (.5%) for the privilege of recording a mortgage.rpt info here.

Richard E. Weltman, legal counsel to the International Executives Associate (IEA) and a member of the Board of Directors of the Executives Association of New York City, attended the IEA Leadership Conference held  October 2-4, 2012 in Reno, Nevada. The conference was hosted by the Executives Association of Reno.

On December 1, 2011, changes to the Federal Rules of Bankruptcy Procedure (“Bankruptcy Rules”) complicated the filing of proofs of claim by secured creditors in chapter 13 cases. These new rules require secured creditors to file and continually update filed proofs of claim.

NEW YORK, NY – The U.S. Court of Appeals for the Eleventh Circuit recently ruled that chapter 7 bankruptcy debtors can strip off, or cancel, wholly unsecured mortgage liens. The per curiam opinion, issued May 11, 2012, marks a significant departure from the standard Chapter 7 practice in most districts.

Higher education costs continue to sky rocket with no end in sight. Students are incurring potentially crushing amounts of debt. Americans owe more than $1 trillion dollars in student loans, which has now surpassed the national credit card debt. While the surge in educational debt is worrisome, an even larger concern is private student loans. Private loans are a riskier way to finance education than through their federally subsidized counterparts.

Weltman & Moskowitz, LLP is pleased to announced it has signed a lease renewal for its New York CIty headquarters located at 270 Madison Avenue. The lease runs through December 31, 2022.

As credit markets tighten, professionals and business owners alike have trouble finding access to credit to fund and grow business operations. Media reports indicate loans are harder to obtain and asset-to-debt ratios are stricter than ever. As cash dwindles the debt load rises. For the overwhelmed business owner bankruptcy is only one answer. There are other alternatives.

On December 22, 2010, an upstate New York bankruptcy court in an adversary proceeding filed by debtor Christopher Weber against SEFCU (“Credit Union”), granted Credit Union’s motion for summary judgment. 

Often people with less than perfect credit scores are surprised that locating one standardized credit profile or a “uniform” credit report is more myth than reality. Judgments, repossessions, slow payment history, tax liens--as well as bankruptcy filings--are reported to a varying degree by creditor filings or with public record databases maintained by one of the three largest consumer credit reporting agencies (“CRAs”). Sometimes adverse information is reported by other sources as well. In order to learn how badly your credit rating may have been damaged, you must first identify what personally identifiable credit information has been reported about you to the CRAs.

The law firm of Weltman & Moskowitz, LLP is delighted to announce the launch of its newly redesigned website, www.weltmosk.com.

NEW YORK, NY - On April 14, 2012, Michael L. Moskowitz, a founding member of Weltman & Moskowitz, LLP, participated, for the eleventh consecutive year, as one of three "appellate judges" sitting at the Maurice A. Deane School of Law at Hofstra University with oral arguments made by first-year law students.

NEW YORK, NY - On March 29, 2012, Michael L. Moskowitz, a founding member of Weltman & Moskowitz, LLP, participated as one of the judges in the Plainview-Old Bethpage John F. Kennedy High School's 23rd Annual Moot Court Competition. The tournament was co-sponsored by the Maurice A. Deane School of Law at Hofstra University.

NEW YORK, NY -

Weltman & Moskowitz, LLP is pleased to announce that Melissa A. Guseynov has joined the firm as an associate in the Bankruptcy and Creditors’ Rights Group.

PaperStreet Web Design's development team just wrapped up the brand new re-design of weltmosk.com.   The new site not only has a modern design but is using the latest web technologies, JavaScript libraries, and web standards.