IRISH BUSINESS LAW
Salvaging A Troubled Business
If your business is in financial trouble, it can be difficult to concentrate on what actions are best for your company's future and just trying to take care of current problems.
When attempting to solve the crisis, some managers attempt to cure the problem by terminating the wrong people to mismanaging money to misleading employees and creditors. It's important to remain on good terms with your creditors, even if your company goes through restructuring or reorganization through bankruptcy. Always remember to return your creditors' calls: it's looked upon more favorably if you keep them up-to-date on the situation rather than keeping them in dark. It's also important to note that giving out inaccurate information is far worse than not saying anything. It's paramount to maintain a good relationship with your creditors so as to come out of the financial crisis successfully.
A few tips:
· Spend Wisely
· Consider changing locales so as to take advantage of lower rent costs.
· Creditors and suppliers may want cash for deliveries of inventory items.
· Save some money in a special account to cover potential costs, fees, and to keep your company afloat in the interim.
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The goal of our firm is to provide honest, courteous and diligent representation while striving to keep your legal costs down and making the legal process as easy as possible on you.
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* In contentious business a solicitor may not calculate fees or other charges as a percentage or a proportion of any award or settlement.
The solicitors at Damian Nolan & Co.,
Solicitors (incorporating William A.
James & Co.)
have more than 40 years of combined experience
in the following areas of law:
Residential conveyancing, commercial conveyancing, family law, divorce, separations, child custody matters, personal injury*, business law, wills and probate, civil litigation*, employment law, defamation, civil litigation*
Telephone:
1-800-444 333 