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Manhattan Bankruptcy Law Blog

Commercial real estate nationally: a tale of two markets

Commercial-related publisher American City Business Journals recently put a spotlight on the central findings of research done by Ten-X Commercial, a national digital real estate marketplace.

The bottom line is interesting on several fronts, and we pass along some material details for our readers in New York and elsewhere, focusing on aspects in the article that zero in on the commercial real estate market both regionally and nationally.

Securitization of receivables: a viable strategy for some businesses

For many large and profitable businesses in the New York metro area, accounts receivables spell the lifeblood of their enterprise. A steady influx of money owed by customers and clients pays the bills and employees' salaries and, importantly, also provides the resources necessary for further expansion and the exploitation of attractive commercial opportunities.

There can be a catch related to receivables, though, and it can sometimes be material. As noted in one topical media focus, they "can take a long time to turn into cash, and a portion may never get paid."

Sometimes an imperative: outsourcing legal work to proven attorneys

Diverse business entities of all types and sizes dot the metropolitan landscape of New York City, which likely stands alone as a regional base offering unprecedented opportunities for commercial growth and profit in virtually every conceivable industry.

Candidly, it would be almost insuperably difficult to sufficiently detail how complex and frenetic the business environment across New York is for new and existing corporate players. We duly note on our website at the well-established Manhattan business law firm of Rich Michaelson Magaliff Moser, LLP, the "fast-paced, intensely competitive" nature that exists daily as the reality for companies of every stripe.

How to protect your business against lawsuits

Businesses may face lawsuits over a multitude of issues. It is vital for businesses to protect themselves from litigation whenever possible through enforceable contracts. It is important to note that even the best planning cannot always prevent a lawsuit. What’s important is for the business to be confident in their ability to withstand the lawsuit and move forward with their business.

How can you keep a lawsuit from damaging your business? The impact of a lawsuit against your business comes down to your insurance coverage, your ability to manage the business’s public image and having experienced legal counsel.

Chapter 11 for Takata: laying groundwork for longer-term success?

As New York attorneys who work routinely with diverse commercial clientele on some of the most intricate and complex debt-related and restructuring matters possible, we flatly know that a Chapter 11 bankruptcy filing is far from being a boilerplate strategy and solution to seemingly insuperable financial challenges.

In fact, and as we note on a page of our firm's website discussing the process and parameters of Chapter 11, this type of bankruptcy filing is "far more complex" than other types of bankruptcy and "not always the only option available to businesses."

Businesses: work with experienced attorney to defend rights under non-compete agreements

For businesses, coming up with effective ways to protect valuable information and property from competitors is important to ensure the success of the business. There are a variety of ways to do this, including intellectual property protections and trade secret enforcement. Another way to do this is through restrictive covenants.

Restrictive covenants are not all the same. In some cases, an employer may only require an employee to keep information confidential or to refrain from soliciting the employer’s clients. Another type of restrictive covenant, the non-compete agreement, is more encompassing in that it prohibits an employer from competing with the employer within a given geographical area for a specified duration of time. 

Lease or buy equipment? Often a key business decision

Perhaps you know as a New York business owner that select equipment you have been eyeing for your enterprise is well poised to provide you with both optimal utility and virtually maintenance-free performance over a long period.

If you know that the equipment you have researched and are looking at is attractively priced (especially vis a vis various lease offerings in the marketplace), will service your company long term and, additionally, will confer tax advantages linked with depreciation, you might reasonably be inclined to simply buy it, right?

New strategy takes aim at business bankruptcy administration costs

There are many viable options for diverse New York businesses seeking to overcome troublingly high debt levels, including Chapter 11 bankruptcy in select instances.

Although that avenue for resolving material debt challenges will not uniformly make optimal sense for all corporate debtors, a Chapter 11 filing can certainly comprise a strong debt-challenge strategy in a given case.

NYC officials promoting small businesses, entrepreneurial efforts

Homogeneity or diversity?

When it comes to the preference of most New York City residents regarding the type of environment they want to live and do business in, the results are eminently clear from any collective standpoint.

What are the possible remedies for a breach of contract?

Business relationships are built and protected with contracts. These legal agreements ensure that two parties are on the same page with regard to matters like performance, security, payment and expectations.

When a contract is breached, these relationships break down. More importantly, breaches can jeopardize the non-breaching party's business. However, there are remedies available, of which New York City business owners should be aware.