Financial and Strategic Planning for Businesses and Individuals during COVID-19 Crisis
The business bankruptcy attorneys at McNamee Hosea are tracking the potential issues that may affect individuals and businesses related to the current financial and health crisis resulting from the Coronavirus (COVID-19) pandemic. This situation is unlike anything that has occurred during the practice years of our group, which date back to 1981, when the prime rate of interest was up around 25%. This is a new kind of emergency in both kind and scope.
We are available and will continue to be available during this crisis to assist businesses and individuals address various matters that are of great concern, while getting out in front of issues that may arise. These services include but are not limited to:
- Planning for strategic use of rainy day funds, deploying resources to save businesses and place them in the best recovery position.
- Making claims under Force Majeure and Business Interruption insurance policies determination of “Act of God” provisions.
- Investigation of other insurance coverage to determined whether claims may be available.
- Reviewing force majeure, business interruption and “going dark” provisions in commercial leases and other contracts.
- Working with creditors to develop strategies to maximize resources.
- Determining availability and applicability of SBA Economic Injury Disaster Loans.
- Reviewing all new state and federal legislation and executive orders as they are issued to determine how available payment sources and obligations affect you and your business.
- Analyzing termination and cancellation provisions in contracts that may impose obligations and/or provide rights to clients.
- Analyzing contractual delay claims and delay damages that could be assessed by or against your business.
- Discussing all legal rights and remedies that may be available to you including personal bankruptcy filing, corporate bankruptcy, creditor workouts, receivership, assignments for the benefit of creditors and any other federal or state tools that could be helpful
- Providing information on government and private grants, bank loans and other financial sources as they become available.
Our goal is to provide the best legal analysis and practical business advice to help you through this unprecedented time. We will work with you to ensure that you and your business are in the best position to recover.
We hope you stay safe and healthy! Please contact the business bankruptcy lawyers for support and assistance with all of your financial and strategic business planning.