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News Stories and Articles

Toys R Us Liquidation may put Jobs, Paychecks and Severance at Risk

Toys R Us Liquidation News Story

Toys R Us filed for Chapter 11 Bankruptcy last fall, but their recent announcement of liquidation of their stores could put employees at risk.

When a large corporation files for Chapter 11 Bankruptcy, the effects are felt by many. The Toys R Us liquidation is no expectation here in New Jersey. Attorney John Scura speaks with News 12 about what this means for employees as well as for customers who hold gift cards.  

Scura, Wigfield, Heyer, Stevens & Cammarota, LLC encourages employees to check how their pensions are set up and make sure they are covered.


Possible Toys R Us liquidation puts 30,000 jobs at risk

News 12 New Jersey

Posted: Mar 15, 2018

A possible liquidation of all Toys R Us stores in the United States could put 30,000 people out of work.

The Wayne-based toy retail giant apparently broke the news to its employees Wednesday, according to a toy industry analyst. The chain filed for Chapter 11 bankruptcy protection last fall.

Bankruptcy attorney John Scura says pensions for large corporations like Toys R Us are typically set up in separate, protected funds but this is the first thing employees should check.

"There could be a shortfall on certain payments that are made to it,” Scura says.

Lawsuit States: Elderly Man Killed by Extreme Heat from HVAC System

Scura, Wigfield, Heyer & Stevens, LLP is representing the DiNapoli family who recently filed a lawsuit stating an elderly man was killed in his Bloomfield apartment on Dec. 13, 2015 from extreme heat caused by a defective heating/cooling system.

New Jersey Sees a Decline in Foreclosure Filings in 2015

Buying a new home is often regarded as an exciting time. Whether it is the homeowner's first home or not, purchasing a home is a major event. Moreover, it is a major financial responsibility that needs to be factored in whenever the homeowner makes any financial decisions. However, when an individual is dealing with financial troubles, those troubles could impact the homeowner's ability to make timely mortgage payments, which could unfortunately lead to foreclosure.

Fatal Electrical Accidents Caused by Consumer Products

Electricity is used to power an endless list of things, and because of that, residents in New Jersey and elsewhere will often encounter electrically powered consumer products. While these products are designed with the safety of consumers in mind, malfunctions and defects can occur. This could lead to the electrocution of consumers, resulting in severe and even fatal injuries.

The End of Charitable Immunity for the YMCA

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The Superior Court of New Jersey recently decided that defendant-YMCA was not allowed to invoke the charitable immunity exemption to avoid lawsuit. Charitable immunity is an affirmative defense that a defendant can raise in response to a lawsuit, when answering the complaint.

Kraft Issues Product Recall Due to Choking Hazard

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Consumers in New Jersey and elsewhere often buy goods on a daily basis. This action is almost routine and done without the fear that the goods being purchased could cause serious or even fatal injuries when used or consumed. Despite this, errors occur in the design and manufacturing of goods, thus resulting in serious hazards for consumers. Because of this, product recalls are issued; however, this does not prevent all consumer injuries from occurring.

Wells Fargo Freezes Bank Accounts

stage coach-Wells FargoWells Fargo has initiated a policy of freezing a debtor's bank account upon the filing of a chapter 7 bankruptcy and thereafter sending notice to the trustee asking for direction on what to do with the held funds. Some courts have found that this is an improper interference with a debtor's exempt assets, but other courts have held that the policy is consistent with Bankruptcy Code requirements.

New Jersey businesses could learn from toy store debt issues

When a company or a small business in New Jersey is no longer productive, is not producing a constant cash flow or are enduring financial problems, it might be a good idea to think of various strategies to address these issues. If business debt is the problem, filing for business bankruptcy is just one debt relief option to consider. Companies and business may also want to contemplate debt reorganization and other methods in order to keep the business running, allowing it to thrive well into the future.

Court Considers Proposed Sale of New Jersey's Revel Casino

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No matter the size of a business or company, financial problems could present themselves. New Jersey readers of this blog might be familiar with the issues surrounding the Revel Casino in Atlantic City. While the business bankruptcy proceedings were initiated awhile back, the casino is still dealing with complications regarding its sale.

Bicycle Accident in New Jersey

Bicycles are one of the most vulnerable vehicles on the roads and are even more vulnerable than motorcyclists. In 2010, almost 800 bicycle fatalities were reported with an estimated 515,000 bicycle related injuries. Owing to the gravity of the problem, New Jersey law makes a lot of provisions regarding bicycle safety norms.

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