Currently on exhibit (from August 3rd to October 30) at the Philadelphia Museum of Art is an exhibit called Rembrandt and the Face of Jesus. Rembrandt is well known, of course, as a master of portraits -- very often his own -- but what is less well known is that, despite considerable commissions and success as an instructor, Rembrandt was forced to declare bankruptcy. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, under which the King Law Center, a Bala Cynwyd bankruptcy attorney, operates is certainly different from Amsterdam in 1656, though some similarities exist.
Both systems employed a liquidation approach to the benefit of the creditors. In Rembrandt's case, as is often the case with local Bala Cynwyd bankruptcy filers, insufficient assets existed to cover the debts. Accordingly, Rembrandt spent the remainder of his life protected from his creditors by friend Hendrickje Stoffels and son Titus van Rijn, who set up an art dealership as a front for Rembrandt in lieu of direct sales by the artist himself. Current business law would allow a modern day creditor to do the same thing: create a corporation for the purpose of protecting assets or exposing one to liability. There are tax consequences, of course, and one would be wise to consult a business attorney after filing a Chapter 7 which leads to a discharge or a Chapter 13 repayment plan which is successfully concluded if considering protecting saved or future assets from exposure to creditors.
This Bala Cynwyd bankruptcy lawyer very much appreciates the work of Rembrandt and looks forward to viewing the Rembrandt and the Face of Jesus exhibit. It is, in fact, the first Rembrandt exhibit in Philadelphia since 1932. The exhibit should be interesting in how the face of Jesus evolves in the artist's eye over time.
If you are having trouble selling your painting or acquiring students to whom you can teach your art -- or even if you are not, but, like Rembrandt, are having difficulty paying your bills -- consider a local Bala Cynwyd bankruptcy lawyer. Call the King Law Center today and get some answers. There is no obligation and no cost to just call and see if we can help or if bankruptcy is even a good option for you.
