|
|||||
|
|||||
|
 |
 |
|
Issue of November 22, 2004 |     |
Galvin-izing ActionIt is time for Secretary of State William Galvin to take charge of investment advisers through the institution of stricter requirements for licensure. This comes on as yet another investment professional is in hot water, in this case having admitted to defrauding an untold number of people, churches and businesses. Fan Reaction The recent retreat by Steven Karp, et al., from completing the purchase of the parcel of land known as Fan Pier in Boston’s Seaport District sheds light on the Herculean resources any developer will need to complete the project as presently configured. Reverse Mortgages a Medicaid Resource By George A. Downey An epic struggle is brewing in Massachusetts and other states between state administrators and a growing number of seniors. The central issue is the state’s obligation to recover the mushrooming costs of benefits it pays for long-term care needs of seniors. Federal Medicaid grants to states are the fifth-largest federal budget item after Social Security, defense, federal debt and Medicare. In some states Medicaid is the second- or third-largest budget expense. Buyers Must Plan When Purchasing Real Estate Out of Bankruptcy By Christopher R. Vaccaro When a bankruptcy petition is filed by or against a debtor, the bankrupt debtor cannot sell real estate without prior bankruptcy court approval. This holds true whether the bankruptcy case arises under Chapter 7 of the Bankruptcy Code (where an appointed trustee liquidates the debtor’s assets and distributes proceeds to creditors), or under Chapter 11 (where the debtor maintains possession of assets while attempting to reorganize its business into a viable operation). A prospective purchaser should take note of Bankruptcy Code requirements when buying commercial real estate from a bankrupt debtor and plan accordingly. Check & Balance Banker & Tradesman's political cartoon. |
||
| ||
|
|
|
|
 |
Publishing Systems Powered By |
