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Revenue and EBITDA are down, the cash runway is short, and time is of the essence. So in a turnaround, set your sights on becoming a start-up.

Budget deficits abound and past promises have been broken, irrevocably. If governments honestly valued their assets and liabilities, most would be insolvent. In the not-too-distant future, delivery of essential services will require a new mix of “skill and will” from our elected leaders and public-sector employees. Changes in compensation structure, job tenure, internships and fellowships, and secondments may provide solutions.

According to the M&A Advisor,[1] “often failures occur because of … the inability to retain key talent. So you need to make sure … the vision is aligned before you do the deal.” Mackinac Partners counsels its clients to spend significant up-front effort developing and negotiating an appropriate integration plan, including a transition services agreement as a key component.

Not many founders of a new business consider, at the time the new business is founded, the potential U.S. federal income tax consequences to them should the new business fail. The type of business entity formed, and the treatment of that entity for U.S. federal tax purposes as either a corporation or a pass-through entity, can have a material U.S. federal income tax consequence to the owners of the entity if the business should fail and there is a cancellation of the debts of the business.

The Labor and Employment Committee has continued to remain at the forefront of the intersection of labor and employment issues and bankruptcy in its continuing effort to keep its members well-informed as they navigate these issues. To begin, this year our Committee paired up with ABI’s Asset Sales Committee for the Annual Spring Meeting to discuss “Labor Issues in 363 Sales: Things You Need to Know.” The panel included Lucian B.

While the bankruptcy process may bring a new beginning, the Bankruptcy Code provides — and some say rightfully so — debtors with much less protection against tax claims than other types of claims for public policy and much-applauded revenue reasons. Even though there is much to say about this topic[1], this article only narrowly addresses 11 U.S.C.

Despite lingering questions concerning the scope of a bankruptcy court’s jurisdiction in the wake of Supreme Court decisions in Stern v. Marshall[1] and Wellness Int’l Network, Ltd., et al v. Sharif,[2] the Bankruptcy Code has consistently been interpreted to confer the authority to determine tax questions on bankruptcy courts.