Message from the Firm

By Jon Karp

Our Business Advisor Report contains three articles that we hope you find of interest. As an increasing number of companies seek bankruptcy protection or become insolvent, you may discover that an insolvent buyer owes your business money. Gary’s article describing how to reclaim goods from an insolvent buyer will be very helpful if you have recently sold goods or products to such a company.

If you are in a partnership or are a shareholder in a corporation with several owners, take a look at Jeff’s article on inheriting an unintended partner, such as the spouse of a deceased partner. One of Jeff’s recommendations is keeping the buy sell agreement current with valuation methods that will update the business’ value on an on-going basis.

If your goal is to hire, retain and motivate key, valuable employees, read my article on stock appreciation rights, which describes how they can be used creatively to provide employee incentives outside of outright ownership.

Also included with this newsletter is a copy of Don’s article describing the use of ESOPs in planning for the succession of ownership in a corporation.

Please don’t forget to send us your e-mail address if you’d like to continue receiving this newsletter. In the near future, we will distribute this newsletter by e-mail only.

As always, if you have any questions or comments, please contact me or one of the attorneys who has written an article.

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