How to Avoid Getting Sued as You Get Successful?

How to Avoid Getting Sued as You Get Successful?

In this video, you will get answers to these questions: How can you avoid getting sued? Why is it that wealthy people get sued? What Can You Do to Avoid Getting Sued As You Become More Successful? https://youtu.be/hlg92TCY26Y Video Transcript How to avoid getting sued as you get successful? Have you ever noticed that wealthy…

Why Are Stupid Disclaimers Everywhere?

Why Are Stupid Disclaimers Everywhere?

In this video, you will get answers to these questions: Why are stupid disclaimers everywhere? When do disclaimers make a difference? When might courts ignore disclaimers? Are email disclaimers effective? Should you use a disclaimer? https://youtu.be/1qauXlvmeB8 Video Transcript Why are stupid disclaimers everywhere? Do disclaimers sometimes make a difference? When will a court pay attention…

What is a Clawback?

What is a Clawback?

In this video, you will get answers to these questions: What Is a Clawback? When Are Clawbacks Used? What Is an Example of a Clawback? What Can You Do If There Is a Clawback of Money You Own? Video Transcript What is a clawback? In law, what does a clawback mean? When is it used?…

How to Avoid Common Mistakes in Small Business Contracts

How to Avoid Common Mistakes in Small Business Contracts

In this video, you’ll get answers to these questions: How to avoid common mistakes in small business contracts? What are some examples of common contract errors? What qualifies as a contract? Is a contract enforceable if it is not in writing? When do contract forms and templates cause problems? Are there unwritten assumptions in every…

Should Your Company Have a Business Operating System?

Should Your Company Have a Business Operating System?

In this video, you’ll get answers to these questions: What is a business operating system? What are popular business operating systems? What is EOS? What is Traction: Get A Grip On Your Business? What is Scaling Up? What is Mastering the Rockefeller Habits, by Verne Harnish? What are Objectives and Key Results (OKRs)? What is…

Disclosure Statement

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. In conjunction with filing a proposed plan, a chapter 11 debtor must also include a disclosure statement. This is an important document in a chapter 11…

Requirements of Plan

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. The good news for a chapter 11 debtor is that a debtor and its creditors are basically free to agree to any plan that they believe…

Basics of Chapter 11 Plan

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. The goal of chapter 11 bankruptcy is for a business to become profitable again, maximizing the return to the business’s creditors and owners. Achievement of this…

Treatment of Claims

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Filing for bankruptcy involves disclosing debt, or “creditor claims,” on official bankruptcy paperwork. Generally, once a company or individual files for bankruptcy, it may not make…

Executory Contracts and Unexpired Leases

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Filing a chapter 11 bankruptcy allows a company to reject certain contracts that require continuing payment or other performance obligations that may be negatively affecting operations….

Financing in Chapter 11

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Once a company or individual becomes a chapter 11 debtor, any financing arrangement that the debtor wishes to engage in must be approved by the Bankruptcy…

Discussion of In-Court Restructuring (Chapter 11)

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Because this publication focuses on debtors who wish to continue to operate, the main focus of the discussion on bankruptcy will center on chapter 11 reorganizations….

Types of Bankruptcy Cases

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. As previously stated, this publication focuses on the needs of a business who wishes to restructure their debts and continue operating. Therefore, the main focus will…

In-Court Restructuring

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Although an out-of-court restructuring is preferable to filing for bankruptcy in most circumstances, exceptions can arise leading a debtor to determine that an out-of-court restructuring is…

Disadvantages of Out-of-Court Restructuring

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. A. Lacks Sense of Finality An out-of-court restructuring agreement between a debtor and creditor – whether forgiving, reducing, or allowing for repayment in installments – is…

Advantages of Out-of-Court Restructuring

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. A. Far Less Expensive Although out-of-court restructuring often involves an attorney, the cost of that attorney will be significantly less than if formal bankruptcy proceedings are initiated. This is…

Creditors Who Should be Restructured

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. Similar to debtors, not all creditors are built the same. As businesses consider filing for bankruptcy or otherwise restructuring their debt, creditors should be uniquely advised on their approach…

Alternative to Bankruptcy – Out-of-Court Workout

This post is part of a series of posts entitled First Considerations for the Financially Distressed Business. For a comprehensive list of articles contained in this series, click here. When a business is facing financial difficulties, it must decide whether or not it should engage in discussions with its creditors to try to work out…

First Considerations for the Financially Distressed Business

This and the following posts have been copied or adopted from First Considerations for the Financially Distressed Business, published through a collaborative effort by the Minnesota Department of Employment and Economic Development Lathrop GPM. Disclaimer to First Considerations for the Financially Distressed Business This publication is intended to alert the reader to legal issues related…

Social Media Audit

This post is part of a series of posts entitled A Legal Guide To The Use Of Social Media In The Workplace. For a comprehensive list of articles contained in this series, click here. This Guide presents a myriad of issues and concerns for a business to consider. What should your business do to comply…