After reluctantly shuttering her family owned Widgets-R-Us last month due to insufficient profits to pay even the secured debt, Susie Sears is now dealing with disbelieving unsecured creditors. What should she do?
Continue Reading Your Shuttered Business: Bankrupt It, Dissolve It or Walk Away?
“Best Interests” of Investors and Employees
Ima Knowitall, owner of All My Business Ideas (AMBI), just read the Wall Street Journal article on new Department of Labor (DOL) regulations and called her financial advisor, Phillip Coffers. Mindful of last fall’s Tilting the Scales post that suggested she might owe her employees a fiduciary duty as the trustee of AMBI’s 401(k), Ima
Common Law Business Partnership – Can You Have a Partner Despite a Contrary Agreement?
Believing that a non-binding term sheet and earlier written agreements precluded any unwritten partnership, Original Oil Production Services (OOPS) cut out its colleague Petroleum United Transfer Zenith (PUTZ) and secretly negotiated its own sweet deal with a competitor.
Aghast upon discovering that OOPS took sole ownership and advantage of the joint efforts of these midstream
Employee Benefits – Do Employers Owe a 401(k) Fiduciary Duty?
Back in July, we discussed how Jed Clampett of Mama’s Fried Pies caused his VP of marketing Elly May to suffer exorbitant taxes due to a deferred bonus that he offered. This month, Jed finds himself again in the grease with his employees – this time with his 401(k) plan. Unfortunately Jed and his company’s