Alex R. Hess Law Group

Pro Hockey 🏒 Player Robin Lehner is now facing allegations of fraud in his bankruptcy case.
6 weeks before filing bankruptcy, Lehner allegedly made false disclosures on a loan application to secure a $4.75 Million loan from a. Growth hedge fund. If the answers Lehner gave on his loan application prove to be fraudulent, he will be required to repay the entire $4.75 million loan with interest and potentially attorneys fees for winning the bankruptcy fraud trial.

Golden Knights' Robin Lehner Accused of Fraud in Bankruptcy Case Vegas Golden Knights goaltender Robin Lehner has been accused of fraud by a major lender in his bankruptcy case. Daniel Kaplan of The Athletic reported…

Suffolk University Law School will be hosting the Eight Annual Complex Commercial Litigation Conference this year on April 25th. The line up is a Whos-who of top trial lawyers, well-respecter judges, and experts on new legal developments and cases.

Loyal Companion pet stores have filed for Chapter 11 Bankruptcy and will be closing all its Massachusetts locations at the end of February.
Closing multiple store locations may be part of a strict plan to stop losing money and operate on slim operating expenses.

MA Pet Store Chain Closing 18 Location After Bankruptcy Filing The pet store chain will remain open until the end of February. The chain filed for Chapter 11 bankruptcy this week.

Bed Bath & Beyond’s new plan to sell $1 Billion in preferred stock and warrants. These would trump and dilute current shareholders.
Whether anyone will buy this offering is yet to be seen, but the current stock price is below $4 based upon low earnings numbers reported in January.
BBBY is doing everything is can you prevent a chapter 11 bankruptcy but it cannot find a buyer for the entire business now.

Bed Bath & Beyond lines up funding in a last-ditch bid to avoid bankruptcy Bed Bath & Beyond has been on the verge of bankruptcy but bought some time with a public stock offering that's expected to bring in more than $1 billion.

The party 🎉 🎈 is over for Party City.

Party City has filed for Chapter 11 Bankruptcy to restructure its massive debt of 1.67 BILLION with less than $200 Million ongoing cash to lay its expenses.
Party City enters is bankruptcy with a $155 million bankruptcy loan to pay its secured debt and vendors.

This article details significant supply chain and covid woes that devastated the party industry.

This case will be worth monitoring and watching to see how the deploy their cash and survive mountain debt.

Party City files for bankruptcy with plans to restructure mounting debt Retailer Party City has filed for Chapter 11 bankruptcy protection, toppled by a heavy debt load as inflation hits consumers' wallets and dents sales.

Live view from oral arguments at the Connecticut Supreme Court 🏛️
Very exciting oral arguments today about mortgage fraud and illegal foreclosures in CT judicial foreclosures. Big changes and wins are coming in 2023.

The Connecticut Supreme Court will hear oral arguments in an Important Mortgage Fraud case tomorrow (Tuesday Jan. 10th).
In Connecticut, mortgage companies must file an affidavit of the balance of the mortgage in order to properly foreclose on a home. The CT Supreme Court will determine whether an objection and Homeowner's Affidavit trumps the mortgage's form affidavit without any backup.

Views from the Office. Weekend Warrior.

Bankruptcy Update: “WHEREABOUTS UNKNOWN.” The Founders and Managers of 3 Arrow Capital (3AC) filed for Chapter 15 Bankruptcy in Southern District of New York on July 1st.
Since then, lawyers have admitted in a court filing that the founders are missing and not cooperating in any meaningful way with the liquidation process. This has caused significant concern for the Bankruptcy Court and Creditors attempting to be repaid.

Founders of bankrupt crypto hedge fund 3AC go missing, as investors try to recoup assets Lawyers representing 3AC's creditors say the physical whereabouts of Zhu Su and Kyle Davies are "currently unknown."

A rise in foreclosures also means a rise in Illegal and Wrongful foreclosures. Typically these illegal foreclosure do not follow Mass. Law, do not have sufficient or proper notice, and many times the entity or Trust foreclosing doesn’t even own or hold the mortgage. It is critical to seek experienced legal counsel immediately to prevent wrongful foreclosures as soon as possible!

https://www.attomdata.com/news/market-trends/foreclosures/attom-q2-2022-vacant-property-and-zombie-foreclosure-report/?fbclid=IwAR3x4Idap64CooWmgyPqhEJv4Y-P3eA2TO9aj9XyBwqqYCQGyUsKAJasu54&fs=e&s=cl

Vacant Zombie Properties Rising in Second Quarter Amid Jump in Foreclosure Activity ATTOM's Q2 2022 Vacant Property and Zombie Foreclosure Report shows that 1.3 million homes are sitting vacant, representing 1.3% of homes.

On July 1, 2022: Connecticut will join the growing list of states where recreational ma*****na is legal for everyday purchase.
However, there are strict fines, limits on what an individual can purchase and grow, and limits on WHERE you can smoke. Familiarize yourself with local rules before engaging in newly decriminalized activity.

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Cannabis becomes legal next month: Everything you need to know (WTNH) – On July 1, 2022, ma*****na will be legal in Connecticut. Last year, Connecticut legalized cannabis for residents who are 21 and older. News 8 is breaking down everything you need to know b…

Bankruptcy 🏦 is a complex area and many times things do not go according to plan no matter how hard Debtor’s counsel works with Trustees and creditor committees.
When you lost your mega mansion for sale in your Chapter 11 bankruptcy for $87 MILLION and only garner a $45 Million offer….
You’re in for a big reality check.

This flashy Bel Air mansion that was listed at $87.8 million flopped at auction — and now the seller is furious "Horrible, Horrible, Horrible!" was how the seller, who filed for Chapter 11 last year, characterized the auction results to CNBC.

Google Russia to File Bankruptcy:
According to reports, the Russian government has seized all of Google Russia's bank accounts, making it impossible to pay vendors, employees, and pay daily operating expenses. Reports claim that Russia took the drastic move over a severe disagreement over Google not deleting or taking down "anti-Russian" content and "illegal" content that was not explained. Either way, international and cross-border bankruptcies are a natural problem and unavoidable when international sanctions and state-imposed sanctions force a company into non-operation. There will be much to come and possibly detailed commentary on the Russian bankruptcy process coming up.

Google's Russian subsidiary to file for bankruptcy after bank account seized Google's Russian subsidiary plans to file for bankruptcy after authorities seized its bank account, making it impossible to pay staff and vendors, but free services including search and YouTube will keep operating, a Google spokesperson said on Wednesday.

For the Second Year in a Row, Alex Hess has been recognized as a Rising Star ⭐️ by Super Lawyers, part of Thomson Reuters
I’m honored to be selected and thank my peers and colleagues for the kind nomination.
Recognized in Bankruptcy Law and Commercial Litigation 🏛

The Second Circuit Court of Appeals appeared skeptical about the wealthy opioid Sackler Family seeking personal family protection from lawsuits through the Purdue Pharma corporate bankruptcy case. Judges expressed concern about a lack of legal authority and no federal statute providing such broad sweeping protections to a NON-party in a bankruptcy case. The individual Sackler family members are not in bankruptcy, only Purdue Pharma is.

Purdue urges skeptical appeals court to revive Sackler opioid lawsuit shield Judges on a U.S. appeals court appeared hesitant on Friday to revive a legal shield that would protect the Sackler family that owns Purdue Pharma from lawsuits related to the prescription opioid OxyContin, a key to ending the company's bankruptcy.

Bankruptcy Update: bankruptcy fraud is a serious offense, and committing bankruptcy fraud may lead to an indictment from the U.S. Attorneys Office and a criminal prosecution.
Tennis 🎾 🏸 legend Borria Becker was sentenced to 2 1/2 years in prison for transferring large sums of money and concealing/refusing to disclose assets in his 2017 bankruptcy case.



https://nypost.com/2022/04/29/boris-becker-sentenced-to-2-1-2-years-for-bankruptcy-charges/?utm_campaign=iphone_nyp&utm_source=pasteboard_app&fbclid=IwAR07Xj98Rob6S1Gu1jczC6NU2lr3Dnh0d0gU6hc2c_TcmepAdFwQcik52Bw

Boris Becker sentenced to 2 1/2 years in prison for hiding assets after bankruptcy Tennis legend Boris Becker was sentenced to 2 1/2 years in prison, Judge Deborah Taylor announced Friday.

The Creditor’s Trust in the Toys ‘R’ Us bankruptcy have filed a 460-page brief detailing dozens of allegations of fraud, intentional corporate misconduct, and using fraudulent pumped up projections to obtain millions in Debtor-in-Possession loans that the executives knew could not be paid back.

The creditors submit that filing a very costly Chapter 11 restructure was itself tantamount to fraud as a quick Chapter 7 liquidation would have netted far more for creditors.

All of this piggy backs on the initial outrage where TRUs executives made almost $14 million in bonuses only 4 days before the bankruptcy filing. However, this occurred in 2017, not recently.

This will be a very interesting case and potentially set quite a new standard on selecting chapter and whether or not there will be direct officer liability for significant corporate misconduct and intentionally selecting the wrong chapter to bilk the estate for debtor’s benefit.



https://www-forbes-com.cdn.ampproject.org/c/s/www.forbes.com/sites/joanverdon/2022/01/20/former-toys-r-us-execs-board-accused-of-fraud-in-bankruptcy-decisions/amp/

Former Toys ‘R’ Us Execs, Board Accused Of Fraud In Bankruptcy Case A creditors group has mined corporate emails, depositions, and other evidence to make the case that CEO Dave Brandon and Toys R Us leaders misled the bankruptcy court and creditors.

On Monday, Alex R. Hess Law Group won back-to-back hearings in both Suffolk Superior and Middlesex Superior Courts obtaining injunctions on an emergency basis to cancel and enjoin wrongful/illegal foreclosures against Massachusetts homeowners.
My Firm fights the big banks and mortgage-backed securities trusts to prevent wrongful and illegal foreclosures. We work tirelessly for our clients, often on emergency timeframes, but the results are in. Winning isn't the most important thing, it's the only thing.

The standard for a violation of the automatic stay has changed. The Supreme Court in City of Chicago v. Fulton is a major change in the standard for turnover of estate property (or debtor’s property) at the beginning of a Chapter 13 bankruptcy.
The Boston Bar Association recently published my article on the new Supreme Court Bankruptcy decision.



http://disclosurestatement.bbablogs.org/2021/01/21/dude-wheres-my-car-what-city-of-chicago-v-fulton-means-for-debtors-attempting-to-retrieve-their-motor-vehicle-upon-filing-a-chapter-13-bankruptcy/

The Disclosure Statement “Dude, Where’s My Car?”*: What City of Chicago v. Fulton means for Debtors attempting to retrieve their motor vehicle upon filing a Chapter 13 Bankruptcy. “Dude, Where’s My Car?”*: What City of Chicago v. Fulton means for Debtors attempting to retrieve their motor vehicle upon filing a Chapter 13 Bankruptcy. Posted January 21, 2021 Case Summary By: Alex R. Hess, of Alex R. Hess Law Group On January 14, 2021, the Supreme Court issued an 8-0** dec...