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In Focus: Business Closure

Background

As business responses to Covid-19 move past reacting to the health crisis, attention will shift to the question of how to respond to the economic downturn. For some businesses, that will be a question of how to continue operating. For others, that may be a question of how to shut down their business operations, including what options are available and what implications that strategic decision will have on their employees, their shareholders, and other stakeholders. This page provides expert guidance on the legal implications of business closure.
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Practical Guidance
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Timeline - Voluntary Chapter 11 Process
Table - Liquidation Under Chapter 7 & Chapter 11
Overview - Chapter 7 or Chapter 11 Liquidation
Overview - Introduction to Voluntary Chapter 11
Overview - Pre-Filing Considerations
Overview - Chapter 11 Petition & Related Documents
Overview - First Day Motions
Checklist - Preferences and Establishing a Prima Facie Case (Annotated)
Overview - The Automatic Stay
Overview - Preference Affirmative Defenses
Overview - Litigation Finance in Corporate Bankruptcy
Table - Direct Contractor Liens in Selected States
Overview - Dissolution
Example Search - Dissolution Agreement Precedents
All Insolvency & Dissolution Practical Guidance
Overview - Nonprofit Nonstock Corporation Dissolution
Perspective - Avoiding Liability During Corporate Dissolution
All General Partnerships Practical Guidance
Search Corporate Practical Guidance
Termination Toolkit
Checklist - Final Pay Considerations (Annotated)
Form - Return of Employer Property after Termination (Ann.)
Form - Distribution of Employee Property after Layoff (Ann.)
Perspective - Furlough as Employer Response to Pandemics
Perspective - Managing Health Plans During Restructuring
Perspective - Terminating a 401(k) or Profit-Sharing Plan
Perspective - Single-Employer Pension Plan Terminations
Perspective - Bankruptcy Impact on Employee Benefit Plans
Perspective - Avoiding 409A Pitfalls While in Financial Distress

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LLC Dissolution
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Benefit Corporations
Plant Closings & Mass Layoffs
Unemployment Insurance
Payment on Termination
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