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Sales & Dissolutions Archives

Asset sale during bankruptcy keeps retailer in business

If your business has taken on heavy debt that could easily become unmanageable, then you may have a number of debt relief options. For many businesses, Chapter 11 bankruptcy is too costly and time-consuming to make economic sense. For other companies, however, Chapter 11 offers the protections needed to get the business back into profitability.

Article 9 of Uniform Commercial Code a cost-efficient tool for struggling businesses

Many struggling businesses need the protections offered by Chapter 11 bankruptcy, but Chapter 11 is not the right choice or even feasible for every business with heavy debt. Chapter 11 is highly procedural and costly in terms of money and time, and there may be better options for debtors and creditors alike.

Don't sign off on a real estate deal without good legal counsel

Whether you're considering the sale or purchase of a commercial or residential property, there is much at stake in real estate transactions. To protect your interests, it is crucial to have a real estate law attorney cover your legal bases. A lawyer can negotiate the terms of the deal and document the transaction with a detailed contract.

Restless shareholders seek more control in California banks' boardrooms

In February the Federal Deposit Insurance Corp., regulator of banks and insurer of deposits, reported that revenue from lending and fees was growing at a much faster rate at community banks, whose core clients are often small businesses, than for the banking industry in general.

When liquidating your business assets is the best option

When you make the decision to close your business, it may not be feasible to sell, merge with another company or transfer ownership. In these situations, the best option may be to liquidate all company assets. Before choosing this option, it is vital to have a well thought out plan in place to help ensure an efficient and cost-effective process.

How can a buy-sell agreement protect California business owners?

Business owners may need to sell or dissolve their companies for any number of reasons: retirement, divorce, disability, bankruptcy, disputes with partners, or just the desire to do something different. Whatever the reason may be, you'll need to cover your legal bases if you intend to sell all or part of your business.

Protecting against liabilities in commercial real estate transactions

Buyers of commercial real estate are not protected by the same consumer protection laws as buyers of residential real estate. Purchase and Sale Agreements can be drafted to include a variety of Seller representations and warranties; however many commercial real estate properties are sold on an "As Is" "Where Is" basis without, or with very limited representations or warranties. The Buyer is on his/ or her own to conduct necessary and appropriate due diligence.

What to do after preparing your business for sale

Recently we discussed the bases you should cover in preparation of selling your business. After taking those important steps, which you can read more about here, you can list the business with a broker or another party who can let potential buyers know that you're selling. Once a potential buyer has expressed serious interest, your attorney can help you start negotiating the terms of the sale.

Steps to take to prepare your business for sale

A good business plan includes an exit strategy. When you're ready to sell your business, a number of crucial steps have to be taken to get the best possible return and protect against future liabilities. Those steps include preparing your business for sale, negotiating the terms of the sale, conducting due diligence, and documenting the sale. Here let's go over some key aspects of preparing for the sale of a business.

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