June Marks’ Post

🔍 Featured Article Alert: Strategic Business Continuity in Liquidation ✨ https://lnkd.in/dw_jSUqu Spotlight on June Stacey Marks Attorneys Blog In the face of liquidation, steering your business towards a successful sale or continued operation requires strategic legal guidance. Our latest blog post, "STRATEGIC BUSINESS CONTINUITY IN LIQUIDATION: RUNNING AND SELLING A BUSINESS UNDER LEGAL GUIDANCE," provides vital insights into navigating these complex processes. 📚 Gain in-depth knowledge and actionable strategies to maintain momentum even when the odds are stacked against you. Visit our blog to read the full article and arm yourself with the expertise of June Stacey Marks Attorneys. #StrategicBusinessContinuity #LegalInsights #BusinessLiquidation #JuneStaceyMarksBlog https://lnkd.in/dw_jSUqu

Voluntary Administration presents both challenges and opportunities for distressed businesses. Imagine stepping into a scenario where the reins of your business are temporarily handed over to someone who can steer it back from potential financial collapse. When you enter VA, an appointed administrator assumes control, bringing a fresh perspective to every aspect of your business—from strategic decisions to daily operations. Many people are involved in a business's operations (staff, contractors, suppliers), and they all do their part in the behemoth of business. Understanding how VA impacts existing contracts and ongoing operations is crucial for maintaining business continuity and ensuring compliance with legal obligations. It also helps businesses protect their most valuable assets: their people. Find out more about the impacts of VA in our article: https://lnkd.in/gnf2DSsP #VoluntaryAdministration #Accountants #insolvancy #FinancialDistress #SydneyInsolvencyServices

Having an operating agreement is important for business owners, especially those involved in partnerships or multi-member LLCs (Limited Liability Companies), for many reasons: Legal protection - An operating agreement can provide significant legal protections by defining the rules and structure of the business, helping to safeguard against potential legal issues or disputes among partners. Financial and Management Structure - It outlines the financial contributions of each member, profit sharing, and management roles. This clarity can prevent disputes and misunderstandings among members by setting clear expectations. Succession Planning - It specifies what happens if a member decides to leave the business, retires, or passes away, providing a clear plan for business continuity. Credibility & Professionalism -  It henhances the credibility of the business with lenders, investors, and suppliers, showing that the company is well-organized and serious about its legal and financial responsibilities.  #businesstips #smallbusinessresources #houstonregisteredagent #texasregisteredagent #businessformation #texasbusinesses #operatingagreement #multimemberllcs #llcfilings #dallasregisteredagent #katyregisteredagent #doingbusinessinhouston

Having an operating agreement is important for business owners, especially those involved in partnerships or multi-member LLCs (Limited Liability Companies), for many reasons: Legal protection - An operating agreement can provide significant legal protections by defining the rules and structure of the business, helping to safeguard against potential legal issues or disputes among partners. Financial and Management Structure - It outlines the financial contributions of each member, profit sharing, and management roles. This clarity can prevent disputes and misunderstandings among members by setting clear expectations. Succession Planning - It specifies what happens if a member decides to leave the business, retires, or passes away, providing a clear plan for business continuity. Credibility & Professionalism -  It henhances the credibility of the business with lenders, investors, and suppliers, showing that the company is well-organized and serious about its legal and financial responsibilities.  #businesstips #smallbusinessresources #houstonregisteredagent #texasregisteredagent #businessformation #texasbusinesses #operatingagreement #multimemberllcs #llcfilings #dallasregisteredagent #katyregisteredagent #doingbusinessinhouston

For business owners, such an important topic to consider is how that business would be run in the case of mental incapacity. The article below makes for very interesting reading.

The insolvency of a key supplier can have a significant (and potentially catastrophic) impact on a customer’s business. In the current economic climate, we are seeing an increased number of solvency related situations impacting the provision of regulated services and services to customers. The contract between a customer and its supplier can play a crucial role in managing this risk, however relying on rights as and when an insolvency actually occurs is inadequate. Click on the link below to read about the broader range of contractual protections for customers to consider https://lnkd.in/eQBKqjbZ

As Restructuring & Insolvency lawyers, we regularly advise businesses in a state of crisis and observe successful and less successful responses to these events. Banks and insurers may be required to make plans for recovery but businesses in other sectors may also benefit from having a recovery plan in place. John Wasty, Head of our Dispute Resolution practice in Bermuda & Counsel James Batten discuss the importance of a pre-emptive recovery plan. Sometimes the onset of insolvency is slow, while other times it is sudden and unexpected. Unexpected events that call into question an entity’s solvency can make it difficult to plan, make and implement those decisions quickly and effectively. The prospect of recovery of any business in a crisis is improved where the business has a recovery plan in place. A recovery plan should be clear in its scope and contain at a minimum: - corporate governance of the entity or entities in scope - risks that might trigger the recovery plan - options for addressing those risks - plans for communication and disclosure Click to learn more: https://bit.ly/45H3DBt

Business Lasting Powers of Attorney should be viewed as an extension of managing business interests in the context of business crisis management and reducing business risk. What types of business structures could benefit from Business LPA's? 🔔 Sole Traders 🔔 Partnerships 🔔 Ltd Companies Read more in our blog below and get in touch if you have any questions.

Technical Article: Murphy’s Law (or one version of it) states "whatever can go wrong, will go wrong" and that can appear to be the case when you are running a business in the current environment. Check out our article below on what are your options, risks and responsibilities when things go wrong. Be sure to get in touch with our team if you have any questions, we are here to help. #company #business #debt #insolvent #risk #liability

Business Lasting Powers of Attorney should be viewed as an extension of managing business interests in the context of business crisis management and reducing business risk. What types of business structures could benefit from Business LPA's? 🔔 Sole Traders 🔔 Partnerships 🔔 Ltd Companies Read more in our blog below and get in touch if you have any questions.