Small Business

The Closely Held Business in Financial Trouble: Unraveling Conflicts Within the “Family”

When financial trouble hits the closely held business, a more complicated structure often lurks below the surface. What the “family” views as a single business may actually be several entities with a long history of intercompany transactions. Conversely, one generation may have transitioned out of the business but might still be receiving compensation from the business under the control of the next generation. The problems are heightened when your contact at the client is an individual who wears various “hats,” including president, board chair, CEO and potential defendant.


Very Good Debates

John W. Lucas, Moderator
Pachulski Stang Ziehl & Jones LLP; San Francisco
Judicial Debate
Resolved: Structured dismissals of chapter 11 cases must always follow the Bankruptcy Code's priority structure.
Pro: Hon. August B. Landis
U.S. Bankruptcy Court (D. Nev.); Las Vegas
Con: Hon. Deborah L. Thorne
U.S. Bankruptcy Court (N.D. Ill.); Chicago
Business Debate
Resolved, a company deriving income indirectly from marijuana sales that are legal under state law should be eligible for relief under the Bankruptcy Code.
Pro: Daniel J. Garfield
McAllister Law Office P.C.; Denver


All in the Family, or Who Is Your Client?

Knowing who your client is and what duties you have is a problem in cases ranging from the mega Caesars bankruptcy case to actions involving a distressed small family business that is jointly owned by several relatives. This presentation will address several attorney/client ethical issues, both in and out of bankruptcy, when jointly representing clients, including practical considerations when representing a group of closely related businesses, attorney/client privileges between multiple clients, and state and federal law ethical issues related to “who is your client.”


Small Commercial Chapter 11 Panel: A Decent Burial — Winding Up the Small Business Debtor

In the Massachusetts economy of the 21st century, insolvency professionals are increasingly called upon after it is too late to save a small business. Thus, our practice is increasingly liquidation-focused, requiring the professional to seek to engage in a process that both tightly controls cost and maximizes value.

Media: Audio
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