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Small Business Law

CONTRACTS AND CORONAVIRUS: Is the Coronavirus a Valid Excuse for Missing a Contract or Lease Payment

CONTRACTS AND CORONAVIRUS: Is the Coronavirus a Valid Excuse for Missing a Contract or Lease Payment? These are extraordinary and uncertain times. The one near certainty we have about the future is that it will take a long time to get back to business as usual. In the meantime, most businesses have had to severely curtail or completely shut down operations. To make matters worse, business owners can only guess when they will be able to reopen. All this has had a devastating effect on cash flow. As a business owner, chances are, you have contracts to fulfill and rent to...

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BANKRUPTCY HELP FOR SMALL BUSINESSES

Small businesses have long struggled to reorganize under the bankruptcy law. Often times, they have intentionally steered clear of filing for bankruptcy protection because of the daunting costs and long shot odds of successful reorganization. The Small Business Reorganization Act of 2019, enacted on August 23, 2019 and taking effect this month, may prove to be the best thing that happened to small business when it comes to reorganization. It created a new subchapter V for chapter 11 small business debtors. I am excited about the prospect of using this tool for two significant reasons. First, it should streamline the existing...

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