
Joel R. Glucksman
Partner
201-896-7095 jglucksman@sh-law.comFirm Insights
Author: Joel R. Glucksman
Date: October 24, 2013
Partner
201-896-7095 jglucksman@sh-law.comGeorge Washington Carver Memorial Gardens Inc., which closed its doors in September, has sought bankruptcy protection under Chapter 7 of the bankruptcy law. Although the company, which owns a cemetery in the gardens, has been struggling financially for several years, residents with loved ones buried in the gardens and those who have purchased plots are concerned about the filing.
Company President Louie Reese III, the firm’s sole director and a shareholder, said that Chapter 7 bankruptcy was the best course of action, according to court documents filed with the U.S. Bankruptcy Court. Under Chapter 7 proceedings, a trustee will be assigned to the case and sell the debtor’s nonexempt assets, the proceedings of which will be used to pay creditors. The firm named 38 creditors in court documents, which include the Alabama Department of Revenue, the Internal Revenue Service and the State of Alabama Commission of Insurance. The company listed between $500,000 and $1 million in liabilities and less than $100,000 in assets, according to Alabama news station ABC 3340.
Following the announcement, more than 1,000 people attended a public forum to express their concerns about the closing and ask questions about how the cemetery will be maintained. Some voiced their fears about misplaced graves, while others who have pre-purchased plots demanded to know what course of action they would be permitted to take, according to AL.com.
The filing is expected to bring about several lawsuits against G.W. Carver Memorial Gardens. During the public forum, which was hosted by state Rep. Juandalynn Givan, angered residents who have already purchased plots in the cemetery were urged to file formal complaints against the company with the state Department of Insurance, the news source reports. It is unclear how many individuals plan to take action against the company.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Breach of contract disputes are the most common type of business litigation. Therefore, nearly all New York and New Jersey businesses will likely have to deal with a contract dispute at least once. Understanding when to file a breach of contract lawsuit and how long you have to sue for breach of contract is essential […]
Author: Brittany P. Tarabour
Closing your business can be a difficult and challenging task. For corporations, the process includes formal approval of the dissolution, winding up operations, resolving tax liabilities, and filing all required paperwork. Whether you need to understand how to dissolve a corporation in New York or New Jersey, it’s imperative to take all of the proper […]
Author: Christopher D. Warren
Commercial leases can take a variety of forms, which is often confusing for both landlords and tenants. Understanding the different types, especially the gross lease structure, is important when selecting the lease that best suits your needs. One key distinction between lease types is how rent is calculated and paid. This article addresses the two […]
Author: Robert L. Baker, Jr.
Over the past year, brick-and-mortar stores have closed their doors at a record pace. Fluctuating consumer preferences, the rise of online shopping platforms, and ongoing economic uncertainty continue to put pressure on the retail industry. When a retailer seeks bankruptcy protection, a myriad of other businesses are often impacted. Whether you are a supplier, customer, […]
Author: Brian D. Spector
Since his inauguration two months ago, Donald Trump’s administration and the Congress it controls have indicated important upcoming policy changes. These changes will impact financial services policies and priorities. The changes will particularly affect cryptocurrency, as well as banking rules and regulations. Key Regulatory Changes in Cryptocurrency For example, in the burgeoning cryptocurrency business environment, […]
Author: Dan Brecher
The retail sector has experienced a wave of bankruptcy filings over the last year. Brick-and-mortar businesses in financial distress include big-name brands like Big Lots, Party City, The Container Store, and Vitamin Shoppe. When large retailers seek bankruptcy protection, they are not the only businesses impacted. Landlords can be particularly hard hit. While commercial landlords […]
Author: Brian D. Spector
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!