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Small Business Bankruptcy

In February 2020, the Small Business Reorganization Act of 2019 became effective, implementing a new pathway for small businesses to file bankruptcy. Codified in Subchapter V of Chapter 11 of the United States Bankruptcy Code, this subchapter initially applied to…

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Increasing Material Costs and Escalation Clauses

The COVID-19 pandemic has had a tremendous impact on many different industries across the world, including the Construction Industry. In particular, the COVID-19 pandemic has affected the supply chain for many construction materials which has caused dramatic increases in pricing…

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The Intersection of Solar Farms and Liens

As North Carolina sees a resurgence in renewable energy solutions to future energy needs, once again the question of getting paid for labor and materials provided to develop a solar farm arises. Remembering that though there have been tweaks over…

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Post-Corona: Business Trends and Strategies

The pandemic accelerated economic trends and exposed weaknesses. Governments print money, while supply chains are disrupted. Locally, home prices are soaring. A global computer chip shortage could last up to two years. Inflation is becoming reality in our day-to-day lives.…

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The Intersection of Solar Farms and Liens

As North Carolina sees a resurgence in renewable energy solutions to future energy needs, once again the question of getting paid for labor and materials provided to develop a solar farm arises. Remembering that though there have been tweaks over…

READ MORE

Increasing Material Costs and Escalation Clauses

The COVID-19 pandemic has had a tremendous impact on many different industries across the world, including the Construction Industry. In particular, the COVID-19 pandemic has affected the supply chain for many construction materials which has caused dramatic increases in pricings…

READ MORE

Types of Judgments

When a creditor desires to collect a debt from a debtor, they must first receive a judgment.  There are several types of judgments that will suffice in this situation.  The pretrial types of judgments are as follows: Confession of Judgment,…

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Post-Judgment Process Simplified

You have successfully obtained a judgment against a debtor. Now what do you do?  There is a process to collect on the judgment. Once a judgment is obtained and the Defendant, (the debtor) is served, the debtor has 30-days to…

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Using Interest Rate as a Negotiation Tool

From an attorney’s perspective, it is easy to see that many customers view their suppliers as part of the team, not as a lender. The customer purchases materials for use on projects and anticipates paying for the materials once the…

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Bankruptcy Preference Amendments

Have you ever tried to be nice to a struggling customer only to have a bankruptcy trustee later send you a letter telling you that you have to return money that customer paid in the 90-days before they filed bankruptcy?…

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Payroll Tax Deferral

If you noticed an increase in your paycheck beginning in mid-September, you’re not the only one. As a result of President Trump’s August 8th Memorandum for the Secretary of the Treasury, payroll tax, which equates to 6.2% of an employee’s…

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What Do Judges Do?

Ever wonder what the difference is between a District Court Judge, a Superior Court Judge, a judge on the Court of Appeals, and a Justice on the North Carolina Supreme Court? This November, understanding the distinctions between those courts will…

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Credit Card Processing Fees: What Are Your Options?

For many years, credit card agreements forbade merchants from passing along the cost of accepting credit cards. With airline miles, cash back, and other incentives for consumers to use credit cards, merchants are experiencing ever increasing fees as more and…

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Bankruptcy Preference Claims 101

For the past 5 years or so, the economic recovery resulted in fewer business bankruptcies. For many creditors, this lull provided a needed opportunity not to consider what happens when a customer files a bankruptcy petition. While the numbers remain…

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What You Need to Know If You Deny Credit

Over the past few years, the economy has hummed along and picked up speed. As the economy recovered credit standards relaxed a bit. Also, credit departments hired new staff who do not remember the Great Recession in terms of how…

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Lien Law Primer

Is the new lien law working or is the economy simply humming along?  A good question for all those involved in the construction industry right now.  As April arrives, we complete the fourth year under the new age of the…

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