It’s a tough truth: Business owners who file for bankruptcy may end up trading cost for control down the road. And while immediate relief may be attractive, other options exist that are not only better for enterprise longevity but also for maximizing your current profits. In a recent Phoenix Business Journal Leadership Trust article, Guidant Attorney Lamar Hawkins outlines top strategies to consider before filing, including business refinancing techniques to prevent bankruptcy and begin the path to financial recovery.
From prioritizing urgent payments to reserving cash resources, Lamar offers financial restructuring tips and guides leaders on how to holistically manage debt plans.
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 to learn more tips about avoiding bankruptcy and making long-term financial decisions to set your company up for success.