Thousands of businesses file for bankruptcy each year in the United States. In his most recent Phoenix Business Journal Leadership Trust Article, Lamar Hawkins provided ways to steer clear of some of the most common risks associated with bankruptcy proceedings.
Avoiding pitfalls prior to filing bankruptcy can save businesses time and money and protect them from potential liabilities. One of the most important ways to bypass issues at the onset of bankruptcy, as noted in the article, is to be fully transparent with an attorney, providing a full list of assets, historical transactions and data. It’s equally important to maintain healthy relationships with vendors, customers and any other business stakeholders who will still be around after the bankruptcy process.
Lamar is one of the leading voices in Arizona for bankruptcy law and serves as Chair of the Arizona Board of Legal Specialization’s Bankruptcy Law Advisory Commission. His practice focuses on all phases of debt workout and bankruptcy services, including Chapter 11 and Subchapter V 11 reorganization, Chapter 7 liquidation, financial workout negotiation and creditors’ rights. He is recognized by Southwest Super Lawyers as well as Best Lawyers in America©.
Read the full Phoenix Business Journal Leadership Trust article for more insights.