Bankruptcy law featured in Brooklyn Bar Association’s fall agenda
Pro Bono Barrister
Recently, we received a phone call from a worried parent whose concern was that a school in which his son was about to enroll — at substantial expense — had “gone bankrupt.” He learned of this dire prospect, he said, “on the Internet.”
It didn’t require an attorney with expertise in bankruptcy to ask the next question: Are you sure the school is bankrupt, or just going through some serious financial reorganization?
He didn’t know and had assumed bankrupt meant “totally broke” (his term). He agreed that he should contact the school directly, which he did, and called me back the next day sounding very relieved, explaining that the respected institution of learning was indeed “reorganizing,” going through “major loan modification.”
“What should I do?” he asked.