One man’s distressed assets are your opportunity. Acquiring a failing competitors customers, equipment, real estate or other assets will be a golden opportunity in the coming months. This opportunity, however, requires that you and your legal team figure out the best way to transfer the assets free of any lien or other third party claims to the assets.
Fair Market Value versus Fair Value | Does One Word Make a Difference?, guest post by Justin Daniels
Today’s business climate will result in an inevitable rise in business divorces that involve commercial real estate assets. How will stock or an LLC interest in the company that owns such real estate be valued?
Short Sales vs Foreclosures: What’s the Difference?, guest post by Justin Daniels, Atlanta Real Estate Attorney
In these economic times, you may hear the words short sale and foreclosure and ask what the difference is and why is that important to me. The short answer is there is a big difference and it could mean a lot to you. SHORT SALE A short sale is where you negotiate with the bank [...]
Criminal Prosecution for Contractors and Subcontractors who Misappropriate Payments on Your Real Property Improvements Agents, Buyers, and Sellers should be aware that Georgia law (O.C.G.A 16-8-15) imposes criminal liability of at least one year in jail for contractors or subcontractors who use proceeds paid to them for real estate improvements on your property to pay [...]
This is a problem that has come across my desk lately that you should avoid. Most commercial leases require that the tenant obtain a lien waiver from the general contractor and its subcontractors prior to a tenant receiving its buildout allowance from a landlord. Contractor Financial Difficulty If a general contractor cannot pay its subs [...]
In the coming months, you may find your customers are having grave financial difficulty and may file for bankruptcy protection. It may shock you when you receive a letter from the bankruptcy court trustee demanding return of payments your customer had made to you within 90 days of their filing for bankruptcy. WHAT IS A [...]
Haste Makes Litigation Waste: Poor Drafting Renders Option to Purchase Unenforceable, guest post by Justin Daniels
Blackberries, text messaging and instant messaging have resulted in a culture that worships speed at the expense of precision. I see this effect every day when people explain transactions to me that they wish to pursue only to leave out important details that they either had not considered or were in their head and did [...]
Looking to Sell Your Atlanta Business? Contact an Atlanta Real Estate Attorney, guest post by Justin Daniels
After many hard years of work and building, you decide it is time to sell your business. Before you uncork that champagne bottle and buy your yacht, you will need to think about issues and plan in advance of selling your business. You should carefully consider the following three things when you think about selling your business.
Many business owners do not realize their general liabililty insurance policies do not cover liability exposure created by employee benefit programs that their company offers. Bill Snellings, owner of the Snellings Walters Insurance Agency in Sandy Springs, explains the issue this way: “Most business owners do not realize the liability exposures that are created by [...]
Mediation and arbitration are generally contractually agreed upon substitutes for resolving disputes as opposed to resorting to a court to resolve it. The purpose and goals of mediation and arbitration, however, are quite different and often misunderstood.