Pitcoff Law Group’s Post

Business litigation can be daunting, even for the most experienced business owners. The stakes are high — potentially resulting in bankruptcy due to a hefty judgment or losing control of your business through receivership. What many business owners might not realize is that the risk of losing their New York business can arise long before a judge reaches a verdict. Understanding #Receivership in New York Courts: In New York, receivership is governed by Sections 5106 and 6401 of the Civil Practice Law and Rules. These laws enable courts to take legal possession of business assets involved in litigation and authorize a receiver to manage or dispose of those assets. If the court believes your business or its assets are at risk of being destroyed or materially harmed, a receiver can be appointed to maintain them until a final judgment is reached. In some cases, the receivership can be extended if justified by the facts. Beyond State Courts: Receivership is not limited to New York state courts; it is also applicable in federal courts. If a federal entity is involved in the lawsuit, they are likely to request a receivership. Federal agencies, such as the U.S. Securities and Exchange Commission, frequently pursue this option. The Importance of Proactive Measures: When faced with business litigation in New York, it is crucial to act promptly and seek legal counsel. Receivership can become a significant issue, and you need to be prepared for all aspects of the litigation. However, prevention is always better than cure. Engage your attorney to review your business operations and mitigate the risk of litigation before it arises. At Pitcoff Law Group, we understand the complexities and high stakes of business litigation. Our team is dedicated to protecting your business interests and guiding you through the legal process. For further legal guidance or to schedule a consultation, contact us today by calling: (646) 386-0990, emailing: info@pitcofflawgroup.com, or visiting: pitcofflawgroup.com. We would be happy to assist you. #newyorkbusinessowners #businesslitigation #legalinsights

Navigating #Receiverships in New York: Protecting Your Business with Provisional Remedies In our recent Q&A, Pitcoff Law Group’s Founder and Managing Partner, Ross Pitcoff, highlighted the importance of provisional remedies like receiverships in New York business litigation. The purpose of provisional remedies is to prevent a plaintiff from enduring years of litigation, only to win a judgment on paper that holds no value due to bad faith actions by the opposing party. Imagine spending three years in court, navigating depositions, discovery, and trial, only to find that the business or asset you were fighting for is now worthless. Here are some key takeaways from Ross Pitcoff’s discussion: 1. Why Provisional Remedies Matter: The courts grant provisional remedies to ensure that plaintiffs aren’t left empty-handed at the end of a lengthy litigation. Without such protections, bad faith actors could render businesses or assets worthless while the case is pending, leaving a plaintiff with a judgment that has no real-world value. 2. Understanding Receiverships: A receivership goes a step further in protecting plaintiffs. In this process, the court appoints an impartial receiver to take control of a business or property when there is a significant dispute. This legal procedure ensures that the company or asset in question remains intact and properly managed during litigation. 3. The Versatility of Receiverships: Receiverships are a versatile tool in litigation. Not only do they ensure the day-to-day operations of a business continue, but they also allow for investigation into mismanagement or financial misconduct. This makes receiverships especially valuable in cases involving significant financial disputes among stakeholders. 4. Protecting Your Interests: By appointing a receiver, the court safeguards business operations, financial stability, and asset integrity, ensuring that stakeholders don’t manipulate or degrade assets during litigation. Missed the LIVE last week? No problem! Click the link below to watch the full video to dive deeper into the process and understand how Pitcoff Law Group can help protect your business: [ ▸ ]: https://lnkd.in/ey3dgS-2 Need advice on whether a receivership is right for your business? We’ll walk you through every step, ensuring your business is protected during complex litigation. Contact Pitcoff Law Group today for personalized legal support. We would be happy to assist you. #businesslitigation #litigationlaw #legalguidance

Meet our attorney Sarah Vida. “The litigation process can be unfamiliar and daunting, especially when a client’s business interests are at risk. My responsibility as their attorney is to help clients understand how our legal system works in the context of their specific matter. I take that responsibility very seriously.” Having served businesses as a litigator for more than a decade, Sarah Vida appreciates the hard work and dedication it takes to found and grow a business. Sarah strives to protect that investment by helping her clients resolve business disputes through logic and unmatched preparation. Not adversarial by nature, she instead lets preparation and intellect fight and win battles on behalf of her clients. Sarah complements her steadfast logic with kindness and candor. She takes the time to listen to her clients’ concerns and to explain what to expect from the litigation process. She then discusses potential outcomes up-front and presents her recommendations with a strong focus on quality, collaboration, and results. “I want to help resolve my clients’ concerns quickly and efficiently so they can get on with their lives and back to business.” #businesslaw #Texasattorney #businesslitigation

Big Law Costs vs. Smart Litigation – Why Trial Doesn’t Have to Break the Bank: A mediator recently told our client, based on his Big Law experience, that litigating their case would cost $300,000 to $400,000 through trial. We couldn’t help but laugh. Because while Big Law might run up those kinds of bills, that’s not how we operate. At our firm, we’ll take the same case to trial for $15,000 to $20,000. And we’ll likely win. How? It's not magic. It’s about efficiency and a smarter approach. Big Law firms have their merits. They’re loaded with resources, and they know how to stretch out a case. But that often comes with sky-high costs that most businesses can’t, or shouldn’t, have to bear. Litigating doesn’t have to break the bank. We understand that you’re not looking to blow your budget on a case—you’re looking for solutions, and preferably ones that don’t cripple your business. Sure, we could make litigation more expensive, but we’re not in the business of milking our clients. We’re in the business of winning cases in the most efficient way possible. We focus on strategic litigation, meaning we cut out the unnecessary steps that often bloat legal fees. We know when to push a case forward, when to negotiate, and how to keep costs in check without sacrificing the quality of representation. The truth is, going to trial can be financially daunting—but it doesn’t always have to be. If you’ve been led to believe that your case is a six-figure endeavor just to see a courtroom, maybe it’s time to get a second opinion. Litigation should work for you, not the other way around. Some cases should go to trial, but they don’t need to drag on with excessive billing along the way. Sometimes a smarter, streamlined approach can get you the same result at a fraction of the cost. That’s what we do every day. Have any questions? Contact our attorneys below👇 📞 (305) 570-2208 ✉️ eayala@ayalalawpa.com #lawyer #lawfirm #legaladvice #legaltips

Litigation Finance: Key Considerations for Companies Litigation finance is reshaping how claimants pursue claims and manage business funding. When considering litigation financing, companies should evaluate the protection of sensitive information and the strategic implications of such funding. 1. Information Sharing with Potential Funders Investors need detailed information to assess the potential payoff of a case. They typically review the case's status, the experience of legal counsel, decisions on key motions, and their own experiences with similar cases. Funders may also rely on summaries or discussions with counsel to determine if the case meets their funding criteria. However, shared information might become discoverable, presenting a trade-off for companies to consider. 2. Disclosure Rules for Litigation Funding As litigation financing grows, so do the rules governing its disclosure. Some courts view funding arrangements as irrelevant to the case's merits, denying motions to compel their disclosure. Others require such disclosures through local rules. 3. Discovery of Funding-Related Information by Adversaries Before disclosing non-public information to potential funders, parties should secure a non-disclosure agreement. However, this agreement does not guarantee the protection of shared materials. Courts differ on whether a third-party funder shares a common interest with the client and whether the attorney work-product doctrine protects materials shared with funders. Some courts liken litigation funding decisions to business transactions not covered by attorney-client privilege, assuming disclosed information is commercial, not privileged. This may lead to a waiver of privilege over any shared privileged information. Conversely, some courts are more open to applying the work-product doctrine, if not the attorney-client privilege, to funder communications, viewing them as confidential and litigation-related, not intended for adversaries. These rulings are often fact-specific, so funding-seeking parties should anticipate privilege disputes. 4. Impact of Funding Arrangements on Strategy and Settlement Claimants should consider the control provisions in funding arrangements and their impact on settlement and other strategic decisions. Issues arise over whether a funder can continue litigation against the client's wishes and if the funder can replace the client as the plaintiff to seek a higher return. 5. Protecting Sensitive Information and Maintaining Control Litigation funding can support clients in managing litigation costs or monetizing claims that might otherwise go unpursued. However, due to varying court approaches to disclosure and privilege, companies must carefully protect sensitive information and scrutinize funding terms to ensure they retain control over significant decisions and resolutions. #thirdpartyfunding #litigationfinance #litigationfunding #legalfinance

Exciting news! PRK Livengood Business Attorney Jonathan Brodin was recently highlighted in 425 Business, where he shared his top "good-faith" tips and insights on:   ✔ The most common legal issues business owners encounter ✔ Best practices for business owners and employees to apply to avoid legal issues ✔ Why most businesses can benefit from retaining a business lawyer and which services are most useful ✔ Considerations business owners should make for choosing how to legally structure Check it out here: https://lnkd.in/gFzXzUTE   #businesslaw

Interesting judgment on litigation funding handed down today (and on which the team here at Freshfields acted). High Court considered whether litigation funders can avoid security for costs applications by funding law firms rather than proceedings themselves. Found to be “wrong in principle” for such funding structures to be capable of automatically avoiding security for costs orders. The team’s blog summarises the key issues.   

Ease the pressure of case costs at your law firm with case expense financing so you can focus on what really matters - getting the best possible results for your clients and growing your firm. Learn more in the article linked below.

✨PARTNER SPOTLIGHT ✨ Gregg Zucker is a trial attorney whose practice covers a broad range of shareholder and partnership disputes, intellectual property litigation, real estate and breach of contract matters. Mr. Zucker has over 25 years of experience in state and federal courts throughout California and numerous other jurisdictions. Before joining Foundation Law Group, Mr. Zucker was a partner at DLA Piper and a founding partner at Affeld Grivakes Zucker LLP. Mr. Zucker represents clients under both hourly and contingency fee agreements. Some of Mr. Zucker’s successes, for plaintiffs and defendants, include: * Prevailing in an arbitration on behalf of defendants that were sued for over $100 million * Prevailing in another arbitration on behalf of a defendant that was sued for $98 million * Settling a case on a plaintiff’s behalf for $26 million in a case involving $24 million in insurance coverage * Settling a case on a plaintiff’s behalf for $3.5 million that the plaintiff had been willing to settle for $200,000 at the onset of the case * Representing a defendant at trial and settling before the verdict for a $100,000 payment by the plaintiff to the defendant * Securing the dismissal of hundreds of claims against defendants represented by Mr. Zucker, without payment to the plaintiffs Mr. Zucker is admitted to practice and has argued multiple cases before the U.S. Court of Appeals for the Ninth Circuit, each of the U.S. District Courts in California, and numerous Superior Courts in California. Mr. Zucker received his Juris Doctor degree from UCLA and graduated Phi Beta Kappa from the University of Florida.  While in law school, Mr. Zucker was an extern for Hon. Arthur Alarcon of the U.S. Court of Appeals for the Ninth Circuit. . . . . #lawyer #legalservice #corporatelaw #businesslaw #securities #corporategovernance #employmentlaw #trademarklaw #iplitigation #startups #technology #mergersandacquisitions #filmlicensing #televisionlicensing #contentlicensing #patentlaw#boutiquelawfirm #expertiese #legaladvice #crisismanagement #discrimination #tradesecret #realestatelaw #leaseagreements

Answers to Common Questions About Civil Litigation: https://bit.ly/3xBRDnV What can I do if I am involved in a business dispute? It might seem like there isn’t a possible solution in some business disagreements. When one or more of the entities involved in a business can’t come to an agreement on a vital area or topic involved with the business, sometimes the only recourse is civil action. With the help of an experienced attorney, you could greatly enhance your chances of receiving the outcome that you desire. Can I sue if a contractor doesn’t live up to his end of the agreement? While it is impossible to tell you whether you have a case without speaking with you and hearing your situation, it is important for you to know that the California legal system is in place to protect you. If you utilize the system properly, you have a much greater chance of getting what you need from your contractor. I am having an issue with some real estate I am trying to purchase. Can you help me? Questions and issues involving real estate and the pertinent laws can seem very confusing. Mr. Bridgman and his legal team have the extensive experience and invaluable knowledge of real estate law in California that you need when you are having a real estate dispute. No matter what your situation involves, you can count on Mr. Bridgman to provide you with the assistance you need. What is business/commercial law? The laws surrounding businesses, formation of businesses and other aspects such as banking, finances, business sales, transactions, mergers, business planning and other areas constitute business law. Though seemingly confusing and difficult to understand, an experienced attorney can assist you with many areas of business law and commercial law. Contact us today for your free consultation. If we can help you, even if it's just to answer a question, please feel free to call our office anytime at (949) 679-4250. We're here for you! #Irvine #OrangeCounty #Lawyer #Attorney #CivilLawAttorney