Negotiating the Pandemic: 2020 and Beyond
The COVID-19 pandemic continues to impact every one of us in a variety of ways. The unpredictability of the pandemic has led to widespread uncertainty in the markets, unprecedented business disruption, economic chaos, and difficulty in confidently planning for the future.
Therefore, it is now more important than ever for business owners to make an immediate assessment of their financial and operational status and challenges, and their assets and liabilities, so that they can best prepare to survive COVID-19.
Businesses should be taking proactive steps, now, to determine whether, and to what extent, they will need to obtain short-term financing, negotiate with their creditors to restructure their financial obligations, address operational concerns to improve liquidity and cash flow, prepare to seek bankruptcy protection to reorganize their business, and/or wind down their business affairs in an orderly manner.
Sacks Tierney’s business restructuring and reorganization group is highly qualified to help businesses, in any industry, navigate through these various options and opportunities. Our attorneys have decades of knowledge and experience assisting financially and operationally troubled borrowers, business owners, property owners, and tenants to creatively and effectively negotiate and resolve their challenges, either through out-of-court workouts, litigation or bankruptcy.
We also have extensive experience representing landlords, creditors, and vendors in protecting their rights and interests when confronted with a defaulting borrower, business or tenant, both in and out of bankruptcy.