Recent Cases

Subsidiary of public company with over $40M revenue and performed an out of court workout to abandon leaseholds and settle with over 75 vendors most at 25-33% of face value.

NYC Chapter 11 for food services company with over $8M revenue. Worked with creditors committee.  Dealt with IRS criminal tax investigation, settled sales tax claim for over $200K discount with 6-year payment plan for confirmed plan.

NYC restaurant with over $3M in revenue. Settled sales taxes with over $150K discount and sold leasehold in 363 sale.

Personal tax court case with over $35M in taxes claimed with international, residency, mark to market, hedging issues. Settled the case during trial and further discounted the amount with an offer in compromise.

Bankruptcy adversary case with Department of Justice in DC for over $2.5M in taxes outstanding and discharged and settled for under $200k.

Chapter 11 for contractor with over $3M in revenue. Settled tax claim with United States Attorney for over $200k discount and conducted 363 sales to fund confirmed plan.

Corporate and personal offers and compromise for 2 NYC restaurants and settled combined taxes over $1M for 50% with 5-year payout.

Offer in compromise for responsible party of contractors and settled over $700k or trust fund taxes for under $50K.

Chapter 11 attorney for contractor with 5 developments and $10M in debt. Settled with creditors and did a 363 sale to fund confirmed plan.

Chapter 11 attorney for wholesaler and settled IRS and NYS tax claims for over $250k in savings and confirmed the chapter 11 plan.

Reorganization consultant to major airline after 9-11.

Stephen B Kass

Stephen B. Kass P.C. 1

In The Press

In bankruptcy, prepare for worst

Many find Chapter 11 a dead end

By Judith Messina

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