Landlord Filing for Bankruptcy, How Does This Affect Tenants

....I respectfully recommend you consult the good folks at
http://tenant.net/

or

brownstoner.com

for advice. While you might get lucky here and get a good answer, they likely know the answer.

Sit tight nothing will happen for a while if at all. Unless you guys are paying drastically under market rents there would be no interest in emptying the building or trying for a conversion. Also depends if it's Chapter 7 or 11.
You might want to set up a building blog so as to keep all on the same page.
Bankruptcy Court would appoint someone to oversee the building but until that happens keep an eye out for building expenses such as the hallway ConEd account or maybe the super isn't getting paid. Gas heated hot water? You're entitled to pay these expenses and deduct it from your rent. Keep records obviously. Someone needs to step up and represent with the Bank. Maybe you?

Although security deposits are supposed to be kept separate there is no penalty for landlords if they don't. Likely he has already commingled that money which will make it hard to get the security back right now.

apophis36 wrote: I had a landlord who "forgot" to pay utility bills for the common areas (ie hallway lights, etc). Con Ed sent me (the tenant) the bill for the building plus late fees (It was around $2,000). They explained that I was not responsible for payment. However, I had the option of paying the bill and deduct it from my rent payment (They cited a particular passage from city or state law saying this was permissable) and keeping the lights on. Otherwise, they would disconnect on some date and that was why the lights were going to go out. I forwarded it to my LL and never heard about it again...

Everyone in the building needs to be aware of these notices, since I think Con Ed sends it to 1 tenant in the building at random...Depending on the size of the building, it may take multiple tenant's monthly payment to pay everything in arrears...

I used to get those in my old building too. Certainly talk to your neighbors about taking care of those things.