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Manhattan Bankruptcy Law Blog

Focus on asset-based lending and its business utility

American businesses have long depended on asset-based lending to grow their companies or help them restructure and reemerge as rejuvenated commercial participants.

Indeed, asset-based lending (often termed asset-based financing, as well) can offer many distinct advantages to businesses over more traditional forms of lending arrangements. Many companies secure loans based on their perceived ability to make timely payments from ongoing cash flows. That funding source is not always readily available, though, which can make asset-based lending a viable option.

Business restructuring not always about addressing financial woes

Many businesses in New York and nationally embark down the road of fundamental company restructuring as a strategy to combat seemingly insuperable debt and related financial challenges.

The motive that drives business principals toward restructuring is not always linked to desperate circumstances, though. Indeed, business owners/managers often look toward material restructuring for far more positive reasons. Sometimes, they even view it as an opportunistic move that can position their enterprise for greater viability and profit in the future.

Report: Upsides clear for future of America's small businesses

One might reasonably think that a number of factors might cumulatively influence growing numbers of young people to steer clear of business-linked dreams and opportunities to start and grow their own companies.

Indeed, some challenges do seem pronounced and clear. Government regulatory exactions are many and hardly ebbing. Tax law - though seemingly improved for small businesses recently - is always complex and in flux. Legions of aspiring and well-qualified entrepreneurs are already dealing with outsized educational debt that might give them second thoughts about embarking down a business path. Once unquestionably secure business realms (mall-based retail is but one example) are in dire sink-or-swim territory or have seen key players already succumb to rapidly changing commercial realities.

Noncompete agreement spotlighted in disputed employment matter

A recent business story focused on a key employee's departure from one mega-retailer to work for its biggest rival underscores the divergent goals and interests of three separate parties.

There is Walmart, for instance, the company that senior vice president and chief tax officer Lisa Wadlin recently left. That giant conglomerate obviously has concerns regarding the protection of proprietary data and trade secrets that might be compromised whenever a top-tier executive pursues new employment.

Good time to be a commercial tenant in Downtown NYC?

According to Bloomberg and other national news sources focused on major business stories, supply and demand is telling an instructive tell when it comes to New York City’s Downtown commercial office space.

The reported bottom line: Big-time landlords dependent on inking lucrative lease deals are sweating, with company principals seeking coveted business space at increasingly attractive prices being elated with their current prospects.

When creditors take control: 3 lessons from the Gibson guitar case

For a business owner, becoming overleveraged comes with significant risks.

Taking on loans is often needed to enable your business to reach its potential. Yet carrying too much debt may make it hard to cover interest payments and could cause creditors to force you into bankruptcy if the business falters.

Which bankruptcy option can best overcome onerous business debt?

If you’re an experienced New York business owner, you know that complexity marks commercial activity in virtually every aspect. Few things in the business sphere are unnuanced and simple, whether they relate to company formation, financing, dispute resolution or any other matter.

Like debt woes, for instance, coupled with other stark financial challenges that threaten business viability. Any company principal dealing with such matters knows well that a boilerplate solution is not in the cards and that hard decisions must be made based on a legion of complex factors.

Implications for new tax/jobs legislation continue to unfold

The recently passed federal Tax Cuts and Jobs Act is marked by sheer breadth and attendant complexities. Given that reality, it was widely anticipated in America's business community that fully understanding the law and applying it for maximum benefit would take some time.

That process remains ongoing.

Key contractual element upheld by U.S. Supreme Court

Employers of every size and type in New York City and across the state focus strongly upon the agreements they execute with workers, especially key employees.

One contractual clause they see as being vitally important is a provision addressing how a worker/business dispute will be resolved. One recent national business article notes that many American companies insist on arbitration provisions in their employment agreements.

How to create an enforceable business contract

Do you always need a contract to protect your business? The short answer: Yes. However, not all business contracts are created equal. Each contract should be tailored to protect your business interests.

Your business contract should address the potential issues that may arise that could harm your business. It should also include terms and conditions that provide enough guidance for all parties involved so everyone understands their responsibilities and what options are available to resolve disputes.