These days, many business owners are struggling. That does not mean that your business has no value. Even with setbacks caused by the lockdowns and COVID-19, your business could have a great deal of value to the right person. If you can keep it viable or close to...
Can you legally protect assets from future creditors?
Yes, as long as you’re not doing it to commit a fraud on those creditors. In periods of economic turmoil, we often see an increase in litigation by people and entities that are trying to regain some ground or who have the right to claw back ill-gotten gains. There are...
Has your business experienced insurance bad faith?
If your insurance claim has been unfairly denied, delayed or underpaid, there is a chance this was the result of bad faith on the part of the insurance company. If it is, in Texas you could be eligible for treble damages (three times your actual damages). Bad faith is...
Should you require COVID-19 liability waivers?
With a global pandemic underway, a lot of companies are requiring their employees and/or customers to sign liability waivers in case they get COVID-19. Should your business do this? Consider that your liability for COVID-19 exposure is unclear, especially if you...
I can’t fulfill my contract. What now?
In times of economic uncertainty, some contracts inevitably go unfulfilled. For example, recent lockdowns or closed borders may prevented you from fulfilling your contractual obligations. Obviously problematic, but not necessarily an emergency. Force majeure You may...
Commercial debt restructuring can help in challenging times
It probably goes without saying that the health crisis we have witnessed for the past few months is an unprecedented challenge with which businesses need to cope and eventually overcome. With commercial activities slowing down, in Texas and across the world, many...
Behind on your commercial property loan? Consider a loan workout.
If you’re using what should be your operating capital to pay down a commercial real estate loan, you may be concerned that you are facing foreclosure or even bankruptcy. But there are ways to resolve a commercial property loan outside of foreclosure or bankruptcy....
Accused of breach of contract? Consider these defenses
Despite the certainty businesses expect contracts to bring, poorly worded or ambiguous language often lands them in a quagmire. Contracts are often breached or appear to have been breached, leading to litigation. Given the stakes, these can be stressful times as a...
The basics of Chapter 11 bankruptcy
If your business is struggling, you may find that your debts become too much for you to handle. In this case, it might be the best idea to file for bankruptcy protection. Many businesses decide to file for Chapter 11 bankruptcy. You may hear people call it...
Commercial landlords and tenants may revisit their contract
Few would argue this is the best of times for many commercial property owners and their tenants. Some Texas tenants unable to pay on time might suddenly get locked out of their shop. But then again, many tenants with a strong online presence are starting to wonder why...