The cost of bankruptcy

November 9, 2015 Ken Cashman

The US Bankruptcy Court Southern District will hold a hearing at noon on Dec. 1 to consider the compensation requested by the legal firms representing NYMA and the academy’s unsecured creditors.

Lewis D. Wrobel is asking for $82,720 (plus expenses) for serving as NYMA’s counsel. MacVean et al. has requested $12,750 for being the school’s special counsel. And Wasserman, Jurista & Stolz is seeking $108,750 for representing NYMA’s unsecured creditors.

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NYMA head signs pact

August 5, 2015 Ken Cashman

On Aug. 4, Anthony Desa, the president of the NYMA Board of Trustees, announced that he had signed an agreement to sell the school to Global Preparatory Academies for $13.125 million.