Agentis’ Post

Bankrupt Tupperware Brands agreed to sell the business to its lenders. Under the proposed acquisition, which is subject to bankruptcy court approval, Tupperware’s lenders would pay about $23.5 million in cash, in addition to $63.8 million in secured claims they own, for parts of the company and its brand name. https://lnkd.in/g3Gy5wa8 #bankruptcy #retail #landlords #chapter11 #chapter7 #reorganization #creditorsrights #debtorcreditorsrights #landlordtenants #ceosanddirectors #ceosandofficers #officersanddirectors

There is no such thing as a DIY liquidation and with good reason. An insolvent company will usually leave creditors unpaid suffering a loss. Therefore there are more restrictions than for a company that has paid all its debts. https://lnkd.in/eidzDuVH #business #smallbusiness

How To Close A Company With Debts And No Assets https://lnkd.in/ee3y4nFW #business #smallbiz #smallbusiness #ukbusiness #ltdcompany

Can you be extending more credit to customers? Most companies are only extending as much credit as they feel comfortable with losing just in case they don’t get paid back. Whether it’s a bankruptcy, default situation or slow/no payment there are a multitude of ways your debtors can get rid of all responsibility to pay back your credit. That’s why it’s important to have a partner who can financially back you so your buisness can extend as much credit as possible and have as many sales as possible. Message me if you’re interested

Chapter 11 bankruptcy is a form of bankruptcy that allows debtors, typically businesses, to reorganize their debts and continue operating while repaying creditors over time. Here's what Chapter 11 means for creditors: #bankruptcy #chapter11 #chapter7 #business

Can you be extending more credit to customers? Most companies are only extending as much credit as they feel comfortable with losing just in case they don’t get paid back. Whether it’s a bankruptcy, default situation or slow/no payment there are a multitude of ways your debtors can get rid of all responsibility to pay back your credit. That’s why it’s important to have a partner who can financially back you so your buisness can extend as much credit as possible and have as many sales as possible. Message me if you’re interested

The fallout from merchant cash advances on small businesses is hard to watch. Lots of defaults are happening. Many #SMBs who want to factor their invoices lately have a lien on their AR from a MCA. Factoring meets the need for quick, easy cash flow in a safer way because the advance is secured by the invoice. I hope these small businesses can get back to thriving! https://lnkd.in/gEmdWXeq

➡️Share Purchase Agreements and Warranties!⬅️ ✔️When buying shares in a Limited Company, for additional protection a buyer should always have a share purchase agreement in place containing warranties! ✔️Warranties that are given by the seller in the Share Purchase Agreement provide protection to the buyer against the risk of unknown liabilities. ✔️If the warranties are untrue, the buyer can claim contractual damages to the extent that it can prove loss resulting from the breach of warranty. 💵An award of damages for breach of warranty will aim to restore the buyer to the position that it would have enjoyed if the warranty had been true. ✔️The warranties will usually relate to the any litigation against the company, any debts or any issues with staff members. ✔️If a seller is unable to provide a certain warranty, then they can disclose this in a disclosure letter. A disclosure letter is a sellers ‘get out of jail free card’ as if disclosed to the buyer and evidence is shown then the buyer is unable to claim for the breach of warranty. ✔️As a seller, it is best to go through each warranty with your legal team and with your accountant for any tax warranties and ensure that you can either provide each warranty as stated in the Share purchase agreement or disclose to avoid any issues further down the line! #shares #shareholders #sharepurchase #companylaw

➡️Share Purchase Agreements and Warranties!⬅️ ✔️When buying shares in a Limited Company, for additional protection a buyer should always have a share purchase agreement in place containing warranties! ✔️Warranties that are given by the seller in the Share Purchase Agreement provide protection to the buyer against the risk of unknown liabilities. ✔️If the warranties are untrue, the buyer can claim contractual damages to the extent that it can prove loss resulting from the breach of warranty. 💵An award of damages for breach of warranty will aim to restore the buyer to the position that it would have enjoyed if the warranty had been true. ✔️The warranties will usually relate to the any litigation against the company, any debts or any issues with staff members. ✔️If a seller is unable to provide a certain warranty, then they can disclose this in a disclosure letter. A disclosure letter is a sellers ‘get out of jail free card’ as if disclosed to the buyer and evidence is shown then the buyer is unable to claim for the breach of warranty. ✔️As a seller, it is best to go through each warranty with your legal team and with your accountant for any tax warranties and ensure that you can either provide each warranty as stated in the Share purchase agreement or disclose to avoid any issues further down the line! #shares #shareholders #sharepurchase #companylaw

When a company is in financial distress, its directors will face difficult choices. Should they trade on to trade out of the company's financial difficulties or should they file for insolvency? If they delay filing and the company goes into administration or liquidation, will the directors be at risk from a wrongful trading claim by the subsequently appointed liquidator? Once in liquidation, will they be held to have separately breached their duties as directors and face a misfeasance claim? If they file precipitously, will creditors complain they did not do enough to save the business?