In this podcast, Mr Cameron tells us that business litigation is a last resort to solving problems between businesses, vendors, customers and lenders. There are many ways to try to resolve disputes prior to engaging in litigation and we discuss many of them here. We then review the possible venues for litigation, how long it might take and the possible costs of entering into a law suit. This is a refreshing discussion of the actual cost of and possible outcomes of litigation that can be helpful in contemplating how to resolve business issues with the help of your attorney.
In these difficult economic times, when asset values are falling, many loans that previously were performing and within the loan to asset values established by lenders are in trouble. Mr Cameron advises us to be preemptive in dealing with your lenders and try to work with them prior to being in default. There are occasions where a loan modification (extending the term, rate change or principal reduction) or forbearance agreements may provide the short or long term fix necessary to avoid foreclosure. We also cover the rules of foreclosure so that the listeners know how that process works if it is impossible to save the deal.
John Cameron helps us understand business governance and dispute issues that can come up in the operation of a business. The type of entity, hierarch of positions, i.e., shareholders, directors and management of a business and how they are empowered to act on behalf of a business organization. The need for good corporate record keeping including minute book, resolutions and authorizations to take actions. He also covers the process for raising and resolving concerns and disputes between owners and managers of a business.
In this podcast we review the laws regarding layoffs, furloughs and terminations that apply to business owners. We discuss the “at will doctrine” of employment and how to ensure that you are not in violation of discrimination, whistle blower or retaliation rules which may apply. Mr Cameron shows us how to be fair and honest making transparent decisions and how to document the file so that everything is handled properly. In tough economic times we sometimes have to let people go in order to save the business and there is a proper way to do so and limit the repercussions of these unfortunate events.