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...
Business-to-business dispute? What remedies are available?
The pandemic has brought a lot of business disputes forward, if not always in a way we expected. The latest group of disputes involve supply chain problems, which are occurring in many sectors at once. NPR recently interviewed a factory operator in Illinois who makes...
Commercial bankruptcy down; operational problems may change that
Business bankruptcies skyrocketed during 2020, but they are at historically low rates this year. According to the Administrative Office of the U.S. Courts, filings for the fiscal year ending on June 30 were at their lowest point since 1985. They were down 17.7%...
6 things to consider when buying a commercial building
Whether you’re considering buying a commercial property to serve as your business premises or you are an experienced real estate purchaser, you should perform due diligence before purchasing a building. Due diligence essentially means learning all the things you would...
Small Business Admin. Lifts Cap on Economic Injury Disaster Loans
The Economic Injury Disaster Loans program through the Small Business Administration could be a lifeline to many small businesses that are struggling due to the pandemic. Now, the government has increased the loan limit from $500,000 to $2 million, starting Oct. 8....
Passing on your business
Part of starting your business is creating a legacy for your loved ones. In addition to providing for them during your life, you may hope your business will continue supporting your family after you are gone. There is a lot to consider as you decide how you want your...
A 10-step guide to starting a business
How do you start a business, anyway? As we continue to work through the pandemic, opening a new business has been a popular way to make headway. The pandemic came with plenty of downsides, but it allowed many businesses to identify market trends and opportunities –...
Estate planning with your pet’s welfare in mind
Many people view their pets as members of the family who deserve a lifetime of love and care. If you do, you will want to take your pet’s welfare into account as you create your estate plan. There are two situations you should address: death and incapacity. You need...
Should your company require customers to arbitrate disputes?
Nobody likes going to court. It’s often costly and time-consuming, and the outcome is never guaranteed. When parties can’t agree on a resolution, many organizations rely on arbitration. In fact, many companies’ contracts specify that all disputes must be resolved in...
Charitable remainder trusts: guaranteed income plus a tax break
These days, a lot of people are looking for ways to shield their assets from taxation. One way you might consider is by setting up a charitable remainder trust. This type of trust can provide up to 20 years of guaranteed income for you or a loved one, and then the...