If you are facing tough decisions on how to continue operating your business, it is important to know what options you have available.
While our governments and financial institutions are extending assistance to businesses impacted by the Covid-19 pandemic through deferrals and subsidy programs, these programs are not enough for many businesses that are facing difficult decisions to reduce expenses and re-negotiate existing agreements with banks, landlords, employees, suppliers and other creditors due to their loss of revenues.
It might seem like your business is out of options but this may not be the case. There may be opportunities available to ensure your business survives or to recommence after this difficult period.
We are talking to business owners like you who are trying to keep their business going and who want to know about the risks associated with difficult decisions that are facing them.
Seemingly sensible and well-intentioned decisions can have negative effects for the business and its owners in circumstances where the business is insolvent.
We provide advice and strategy on options that may be available to the business to continue operating, what the legal risks are to the business, and present alternative ways of managing risk and achieving outcomes that safeguard the business.
Where necessary, we consult other professionals both within our firm and externally such as accountants and trustees to discuss possible solutions.
Our senior lawyer Salman Bhura is experienced in both business and insolvency law. He understands business needs and perspectives as well as the legal risks involved for businesses operating in a distressed environment.
Please contact Salman for a consultation to learn more about your options.