Click here to view the 7/30/2020 Restaurant Owner.com Webinar
Over four months into our “new normal,” many independent restaurant owners are wondering how they’re going to survive at reduced seating capacities and the possibility of facing another shutdown. Government assistance, payment deferrals and/or short-term rent abatement may not keep many restaurants from permanently closing, assuming they can even get access to it.
However, restaurant owners and investors should know their options. Yes, there are options. And while bankruptcy may seem as a last resort, it’s a very potent strategy, particularly thanks to brand new changes to the Federal bankruptcy code that make way for debt discharge without losing ownership. This webinar will cover the key strategies now available to small businesses in negotiating debt, and even bankruptcy reorganization for businesses / restaurant businesses in particular.
Topics That Were Covered:
Negotiating With Critical Business Stakeholders:
- Settlements Agreement and Out-of-Court Workouts
- Force Majeure Clauses in Critical Agreements and Leases
- Recent Court Rulings in Favor of Restaurant Owners
- Fiduciary Duties to Investors
Bankruptcy Considerations:
- Why Bankruptcy Is Strategy, Not Stigma
- Section 363 Sales
- Chapter 7 vs. Chapter 11
- The Role of The Trustee
- Potential Lawsuit Threats
- Critical Information Regarding Subchapter V
- Subchapter V Enables Debt Discharge, but You Don’t Lose Your Equity
- Other Specific Topics
- Secured Debt/Equipment Loans and Leases
- Real Estate Leases and Considerations