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Franchisee Chapter 11: A Primer for Franchisors
With the American economy softening, franchisors are increasingly worried about the financial health of their franchisees. Oftentimes, troubled franchisees will seek refuge in the bankruptcy courts, hoping to reorganize their business affairs under Chapter 11 of the Bankruptcy Code (the 'Code').
Chapter 11 bankruptcy filings by existing franchisees present complex challenges for franchisors. Upon a filing, a franchisor confronts financial recovery of outstanding amounts due; quality concerns; preservation of system integrity and the protection of intellectual property; and the risks and rewards of a potential continued business relationship with a post-bankruptcy franchisee. Occasionally, a franchisor could even be subject to an attempt to assign the franchise agreement to a third party without regard for the franchisor's approval. Certainly, these myriad issues present potential pitfalls for the unwary, but managed properly and efficiently, a Chapter 11 filing by a franchisee may provide opportunity for the vigilant franchisor.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.