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Fraudulent transfers are a real risk and can lead to hefty losses for businesses and individuals alike. However, by subjecting transactions to due diligence, creditors can significantly mitigate the risk of falling victim to fraudulent activities. One of the ways to...
Laws require businesses to provide almost complete transparency regarding financial and business decisions leading up to filing bankruptcy. Unfortunately, some will try to hide money or assets through fraudulent transfers before filing. While rare, owners, officers or...
No matter how carefully they construct their credit application, businesses will sometimes find that customers, contractors or business partners do not pay their bills on time. The debtor may explain to the creditor that they are behind because business is slow, they...
Binding contracts are a cornerstone of every successful business. They stipulate the goods, services, delivery date, and cost. They also should include various clauses, including what happens if the customer does not pay their bill. Some go a step further in asking...
Businesses often prefer to avoid Chapter 11 and go into receivership because it carries fewer negative connotations and involves less administrative work. A regulator, private entity or court appoints a receiver to the businesses. Once the company goes into...
Different property owners will have various leases. They likely will vary by building or space. How the owner will inform tenants will likely be based on local and state regulations and conditions outlined in the agreement. It is important to remember that owners must...
Subcontractors, suppliers and design professionals build or improve interior or exterior spaces for commercial use. These are complex jobs that involve business agreements, schedules, and hard work, so the businesses involved deserve to get paid for their effort. Even...
Commercial debt collection involves more than hiring a collection agency. The process of collecting starts with the company that puts agreements in writing. Relying on a handshake or oral agreement may feel better, but a good contract and a paper trail make a...
Even when a debtor has declared bankruptcy, you should not assume your claim is dead in the water. Companies can declare bankruptcy under several chapters of the U.S. Bankruptcy Code, but in each case the debtor will usually end up paying some of its debts. The...
If you are involved in a payment dispute with a customer or tenant, or any kind of commercial dispute in Texas, your goal isn’t just to get a judgment against the non-paying party. It’s to obtain payment. You might try an alternative dispute resolution process through...