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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.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
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.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.