There are a number of powerful tools that can be used to protect a business owner facing a business divorce. Business owners are protected by Business Corporation Law Section 1104(a). In fact, the law protects shareholders from oppression, fraud, corporate theft,...
Month: February 2017
Protecting yourself in a Business Divorce
There are a number of powerful tools that can be used to protect a business owner facing a business divorce. Business owners are protected by Business Corporation Law Section 1104(a). In fact, the law protects shareholders from oppression, fraud, corporate theft,...
EVERY COMPANY WITH MORE THAN ONE SHAREHOLDER SHOULD HAVE A SHAREHOLDERS AGREEMENT
Too many shareholders have lost everything because they simply failed to protect themselves with a tailored shareholder's agreement. More and more shareholders and directors are finding themselves facing a dispute, as between their directors and shareholders. A...
Bankruptcy as a Negotiating Tool for Taxi Owners
You really want to continue driving but you are having trouble making the note payments. If you own a house with your wife in New York, and have less than $330,000 in equity above the mortgage, bankruptcy might be an option. Educate yourself about bankruptcy. Then...
Multiple Medallion Owner Finds Help
A taxi medallion owner, searching the Internet for options, called. "I heard you were helping a lot of people." He was living on the income from leasing multiple medallions. But he could no longer lease them all. 62 years old, a former driver, he was now caught in a...
Taxi Medallion Owner Worried About His Investment Property
When the market was high, he decided to cash in on his long hours and hard work to protect his family for the future. The bank offered him a refinance to obtain $300,000. He used it to buy an investment property, to generate income for his retirement. He worked 12...
Taxi Owner asks “Should I sign the renewal?”
His loan had matured last year and the bank presented him with a six-month extension, while they evaluated a new loan. He couldn't decide what to do. I evaluated his situation and recommended that he provide an accurate financial statement with his application, and...
Bankruptcy can discharge student loans, but it won’t be easy
Times are hard, and your paycheck seems to stretch thinner each week. Your mortgage, medical bills and credit card debt would be burden enough, but the student loans overwhelm you. Perhaps they are from your own education, but more than likely, you took them on for...
