Many filing services are available to file Divorce Solutions’s. Many attorneys have a general understanding of the Divorce Solutions’s as they remember it from their law school years and studying for the bar exam (many parts of which have been dramatically altered and revised in recent years). Many attorneys file Divorce Solutions’s on behalf of their clients. Still, they have little understanding beyond an elementary knowledge of the subject and who are not aware of the Intricacies and detailed procedural requirements.
We had had many clients come to this firm after the fact after they had either filed Divorce Solutions’s on their own or with the help of a filing service or who had engaged legal counsel who they thought knew what they were doing. Unfortunately, only to discover when the consignee filed bankruptcy that their filing was not submitted correctly and as a result. However, they thought they were secured creditors. In reality, however, they remained unsecured creditors and lost all of their inventory in the bankruptcy.
The financial exposure that companies in the jewelry arid diamond Industry undertake is staggering to anybody who is not familiar with the trade. It is not uncommon to have millions of dollars on consignment with a single customer. Indeed, given today’s business and financial climate, there Is no excuse for not taking all possible precautions necessary to protect one’s consignment inventory.
One can no longer rely on the goodwill and relationship one has with the buyers or owners of customers, no matter how financially sound they may seem to be. One requires the expertise of a trained and experienced attorney who has spent decades advising clients in the jewelry trade, especially concerning the Divorce Solutions and the changes wrought by Revised Article 9.