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July 2017 Archives

Was your job offer easy street or sleazy cheat?

The job market is tight, and if, like many in California, you have been searching for a job which will pay well and provide some security, you may be growing weary. After tweaking your resume and cover letter for countless employers with no luck, you may have started to feel desperate when, finally, a job offer came that sounded too good to be true.

Sungevity Files for Chapter 11 Bankruptcy Protection, Plans to Sell All Assets Off

Layoff.jpgThe Mercury News reports that Sungevity, an Oakland-based renewable energy company, has filed for Chapter 11 bankruptcy protection. According to the report, Sungevity has laid off several hundred employees and now plans to sell itself off to Northern Pacific Group, a venture capital company firm based in Minnesota. This sale can only go through with approval from a bankruptcy court.

Preparing now for the dissolution of a business

You finally got your business up and running, and everything seems to be going as smoothly as possible. Perhaps you are even turning a profit. As you adjust through the growing pains and ease into a routine, you may be relieved to have your success confirm what you always knew – that you were meant to run your own company.

Court Rules that Federal Arbitration Act Preempts California State Law

arbitration.jpgRecently, the United States District Court for the Northern District of California issued an important opinion in the case of Bell Prods. v. Hosp. Bldg. & Equip. Co. The court ruled that the Federal Arbitration Act (FAA) preempts a California state statute that requires that arbitration proceedings must remain in state. The decision could potentially have significant ramifications for California businesses and contractors who deal with out of state firms.

California Law: Changes to the Claims Resolutions for Public Works Projects

public-works.jpgOn January 1st, 2017, California's Assembly Bill 626 (AB 626) officially became law. This legislation substantially alters the claims process for public works-related disputes. Like any other project, a public works project has the potential to run into problems. As such, it is imperative that companies are able to protect their rights and interests. All contractors and construction firms that are involved in public works projects must understand this new law.

Set-Off Rights Can Protect Some Creditors

creditor.jpgBusiness bankruptcy cases are challenging for all parties involved, including the creditors. This especially true for businesses that became a creditor without ever actually lending money. For instance, when a company enters bankruptcy, it often has active accounts payable or accounts receivable with other companies. This leads to some businesses becoming creditors in bankruptcy without ever engaging in the traditional lending business. It can also create a situation where a company both owes money and is owed money, by a company in bankruptcy. This creates a very confusing legal situation. Fortunately, a concept known as 'set-off rights' found under Section 553 of the Bankruptcy Code can help to clarify the situation.