Business Financial Remedies and the Economic Crisis

Business Financial Remedies and the Economic Crisis

Business financial remedies help companies restructure their costs and cash flow, reducing debt payments and improving their business’s financial health. But the economic crisis can affect anyone, and it can be particularly devastating to individuals. Unexpected layoffs or business closures can cause a sudden drop in income, leaving people without a job or with reduced pay. Without a way to pay basic expenses, people are often unable to cover their bills.

In some cases, unequal division of a joint business may be appropriate. For example, in N -V N, where a husband owned a business and his wife didn’t, the wife received 39 percent of the joint assets, including the family home. The court’s approach to achieving an equitable financial outcome is based on determining the value of the parties’ interests in the business. If there is a disagreement on the value of the company, the court will divide it ‘in specie’.

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Sydney Chadwick

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