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Tag Archives: Business

Federal assistance may prolong bankruptcy filings (access required)

Store Closing and Going out of Business signs displayed at a soon to be closed store I

With businesses closed, employees furloughed and sales plummeting, there will almost certainly be an increase in bankruptcy filings as a result of the pandemic. But with the recent outpouring of federal financial support, attorneys say the uptick in “COVID-caused” bankruptcy ...

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Alternate date to value corporate shares denied (access required)

Where defendant elected to buy plaintiff’s shares in a jointly owned company after plaintiff filed a dissolution action, the court denies defendant’s motion to set an alternate valuation date. The statutory valuation date, which is the day before plaintiff filed ...

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Direct or alter-ego theory not available in furniture store dispute (access required)

The plaintiff, a retail furniture store in North Carolina, failed to establish jurisdiction over the two individuals who sold it the business. Neither of the two sellers assumed individual obligations in the supply agreement, which was the basis of the ...

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Shut down and shut out: Businesses seek insurance coverage for COVID losses (access required)

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Many businesses that shuttered because of the COVID-19 pandemic expected their business interruption insurance would provide some financial relief. But lawyers and insurance experts say it will be an uphill battle to obtain benefits without showing unusual circumstances. At least ...

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Unambiguous lease not modified by other documents (access required)

A lease was not modified by a subsequent letter or estoppel certificate because neither document was signed by all parties and thus lacked mutual assent. Nor could subsequent conduct vary the unambiguous lease. Although the lease allowed the landlords to ...

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Business valuation in the time of the plague (access required)

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Say your client or their spouse has an ownership interest in a business, and that business is marital property. Since the nationwide shutdown began, the value of that business has gone down. What do you do now? Everyone hopes this ...

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The late-payment culture (access required)

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By Phil Muscato BridgeTower Media Newswires There’s a troubling issue plaguing business to business suppliers and service providers. A recent study by Mastercard found that 74% of business owners and employees think late payments are an inevitable part of business ...

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