The outbreak of COVID-19, colloquially known as the Coronavirus has caused Federal, State, and Local governments to take unprecedented action nationwide in attempt to control the spread of the highly infectious disease. This has resulted in profound business interruption, layoffs, and cash flow problems for businesses and individuals.
In the face of uncertainty both short and long-term, many businesses and individuals are dealing with tough financial realities. They are concerned about how they will be able to pay their obligations (bills), and how to ensure they get paid for services they have provided to parties or work they have performed. Many are worried about making rent payments for leased space, trying to collect lease payments, trying to get paid on a contract, or trying to get some relief on performance of a contract due to constraints of the present environment.
Every situation is different, but we all share similar worries and problems. Each level of government is trying to develop plans and put them into action to help businesses and individuals during this time. The attorneys at Lacy Katzen are keeping a close watch on governmental measures, while simultaneously developing creative solutions to help our clients during this difficult time. Whether it’s negotiating a deal or plan on behalf of a debtor or creditor to prevent a default on an obligation, or negotiating to protect valuable business interests, we are here to take some of the uncertainty and stress out of the equation on behalf of our clients. If you are in need of advice or assistance related to these matters, we are here for you.