Court to Decide Whether Rent-Stabilized Lease May Be Bankruptcy Asset

Court to Decide Whether Rent-Stabilized Lease May Be Bankruptcy Asset



A 79-year-old rent-stabilized tenant is at the center of a bankruptcy case that may pose a risk to her and the millions of other New Yorkers who live in rent-stabilized apartments.

The tenant, unable to keep up with her bills after her husband’s death, filed for Chapter 7 bankruptcy two years ago. She has no assets and no income other than Social Security. Typically under such circumstances, following a bankruptcy filing, she wouldn’t have to pay the $23,000 she owed.

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