BANKRUPTCY LAW
Stibor Group represents individuals entering into bankruptcy through Chapter 7, otherwise known as "liquidation," is generally the
simplest and quickest form of bankruptcy and is available to
individuals, married couples, corporations and partnerships. A trustee
(appointed by the court) gathers and sells your non-exempt property and
uses the proceeds from the sale to pay your creditors. As well as Chapter 13, otherwise known as "repayment plan" to pay off all or part of your debts over three
to five years. Rather than wiping out debts immediately, this option
allows you to reorganize them so you have time to pay.."
CORPORATE LAW
Stibor Group assists closely-held businesses with corporate
structure and other business planning decisions. However, before
deciding on which business structure best suits their needs, we seek to
give our clients advice regarding the relative advantages and
disadvantages of different corporate forms. Accordingly, when deciding
on which corporate structure best suits their needs, we primarily
consider the following factors:
1. The need to limit liability of the owners
2. The size, scope, and type of business;
3. Startup costs, including licensing, and other fees.
4. Existing capital and the need for outside investors;
5. State licensing and tax requirements;
6. The time commitment necessary to handle regulations and formalities;
The primary consideration of most business owners is the liability they
may be subjected to for the debts of the business. Most business owners
are aware that an incorporated entity provides shareholders with
protection from corporate obligations. Stibor Group assist its LLC and
LLP clients draft operating agreements consistent with their
expectations and needs.
Besides issues of liability and control, many business owners want to
know how alternate business structures will affect their tax
liabilities. On one side, regular corporations are taxable entities, as
are the dividends paid to shareholders. Thus, after incorporation,
shareholders are subjected to double taxation of corporate profits. On
the other end, partnerships, S-corporations and LLC’s are pass through
entities, meaning they are not subjected to a tax. Instead, profits
from these entities are personally reported by owners according to
their pro rata share of the organization.
In order to provide our clients with protection from the unintended
consequences of an unfair contract, the Stibor Group is able to assist
clients in drafting, negotiating, and reviewing most types of contracts.
Specifically, our attorneys are able to assist clients in need of legal
representation to draft, interpret, or enforce contracts involving the
following:
1. Business and corporate agreements
2. Employment contracts
3. Lease agreements
4. Licensing agreements
5. Non-compete & non-disclosure agreements
6. Purchase and sale agreements
7. Real estate contracts
8. Loan documentation