Now More Than Ever, Businesses Need To Prepare For The Short Term And Long Term Challenges That Await Them

The following are just a few of the relationships that businesses need to manage:

1. Landlord – tenant
2. Lender – borrower
3. Equipment lessor – lessee
4. Creditor – debtor – guarantor
5. Vendor/service provider – customer
6. Corporation (or LLC) – shareholder (or member)
7. Customer – general contractor – subcontractor

In each relationship, even a temporary delay in payment or performance could breach a contract and destroy a relationship.  While the judiciary system has limited physical access to their courthouses due to the coronavirus pandemic, the courts are very much “open” for business.  Lawsuits are being filed, and judgments are being entered, sometimes more aggressively than before as creditors, themselves, encounter liquidity problems.

Our attorneys have the expertise and decades of experience necessary to navigate the minefield of creditor and debtor rights.

Whether your business cannot make an upcoming rent payment, or risks the repossession of its equipment, or cannot satisfy a contractual obligation – due to circumstances beyond your control – we can help.  If you signed a personal guaranty, we can protect your assets, stop a bank levy and shield your home from a sheriff sale.

In situations where you need to do more with less, such as deciding whom to pay, or where to direct your personnel and resources, we can guide your next move so that you can confidently get the job done and protect and grow your business.

If a customer soon will default, or has defaulted, on a payment owed to you, we can enforce your rights and aggressively pursue collection.  Through our partnerships, we can locate assets and get you paid.

By taking proactive steps, we can prepare your Consultations available by video conference. business for the uncertain future that lies ahead.

Your challenges await our solutions.  We welcome your call or e-mail.  Consultations are available by video conference.  To schedule a consultation, please call (973) 845-6525 or e-mail bspector@selawfirm.com.

Disclaimer

The content of this blog is intended for informational purposes only. It is not intended to solicit business or to provide legal advice. Laws differ by jurisdiction, and the information on this blog may not apply to every reader. You should not take, or refrain from taking, any legal action based upon the information contained on this blog without first seeking professional counsel. Your use of the blog does not create an attorney-client relationship between you and Spector & Ehrenworth, P.C.