We have stressed in select blog posts at the commercial New York law firm of Rich Michaelson Magaliff, LLP that careful deliberation is imperative prior to any decision being made concerning a Chapter 11 bankruptcy filing.
A partnership can be a great way to start a business. Working with someone you know and trust on something you both have a vision for can be incredibly rewarding. Especially when those profits start coming in.
The term “immediate” is of course relative. Apparently, it means something quite different to the American Institute of CPAs and the federal Internal Revenue Service, respectively.
American businesses have long depended on asset-based lending to grow their companies or help them restructure and reemerge as rejuvenated commercial participants.
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.