This month’s Business Bytes highlight Chapter 11 bankruptcy, tips for contractors, and digital assets.
Working with a Chapter 11 Debtor. Chapter 11 of the US Bankruptcy Code allows a business to pause its creditors’ actions to allow it to reorganize, stay in business, and hopefully return to profitability. While it can be a real benefit to the debtor, it is fraught with risks and concerns for the debtor’s creditors as well as those doing business with a Chapter 11 debtor. READ MORE.
Tips for Contractors. Handshake or oral construction or repair contracts are fraught with problems and can be illegal or unenforceable in many situations, including consumer contracts for home repairs. Clear and comprehensive contracts provided by the contractor protect both the contractor and owner, and certain matters should always be included. READ MORE.
Remember Digital Assets. When preparing your estate plan remember to address and protect your digital assets. Whether they be domain names, creative contact, crypto, online accounts, or others, each should be identified, addressed, inventoried, and treated properly to maintain access and value for your heirs on your death or disability. READ MORE.
