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October 2016 Archives

Overtime Rules Are Changing; Will Your Company Be Affected?

overtime.jpgEarlier this year, the Department of Labor (DOL) enacted a new rule that will have a major impact on overtime policies for many companies. The rule, which is set to go into effect on December, 1st, 2016, is estimated to cover as many as four million workers across the nation. Employees working in many different positions will be affected, including executives, administrative workers, sales staff and technology support professionals. All California business owners and managers need to be ready for these updated overtime regulations. Your company must be in full compliance with state and federal labor law at all times.

California Business Bankruptcy: What to Expect at a Meeting of Creditors

creditors meeting.jpgAll businesses that file for bankruptcy protection will eventually face a meeting of creditors. Also known as a 341 meeting, this meeting is required under the Bankruptcy Code. The broad purpose of the meeting is to ensure that the filing business has fairly and honestly represented its assets and liabilities to the creditors. If your business is soon facing a 341 meeting in Silicon Valley, you should contact an experienced San Jose business bankruptcy attorney today to further discuss your legal rights and options.

Chapter 11 Bankruptcy: Equal Treatment of Creditors

chapter-11.jpgChapter 11 bankruptcy is also known as a reorganization bankruptcy. This is because companies enter Chapter 11 with the goal of shedding overly restrictive obligations, restructuring their debt and emerging as a stronger and healthier business. The Chapter 11 process requires that companies come up with a realistic reorganization plan. A restructuring plan must be approved before a company can move forward with reorganization. Chapter 11 plans will only be approved if they meet all relevant legal requirements. One of the most often contested requirements is the provision that demands the equal treatment of creditors. An experienced Chapter 11 lawyer can help your company craft an effective reorganization plan that meets this legal requirement along with all others.

What Is the Strong-Arm Clause?

strong arm clause.jpgThe United States Bankruptcy Code includes a 'strong-arm clause' which gives a bankruptcy trustee or debtor in possession (DIP) important powers. Known as avoidance powers, they can give the trustee or DIP the authority to resist certain creditor claims. This most frequently occurs when a company enters into an agreement with a creditor immediately before the company enters bankruptcy. While those pre-bankruptcy agreements are still enforceable against the debtor company, they will need to be considered within the context of the claims of competing creditors.

  • Santa Clara County Bar Association | 1917
  • American Inns of Court
  • CWL | California Woman Lawyers
  • Bay Area Bankruptcy | Forun
  • The State Bar of California
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