What Actually Is Meant By Commercial Litigation? What Does That Include?
Commercial litigation is disputes regarding commercial subjects. One form of commercial litigation is breach of contract. Other forms are racketeering or business torts. Another is disputes between shareholders and corporations for their dissolution. It is litigation that occurs in the realm of commerce as opposed to civil litigation between two people.
What Are The Most Common Reasons Businesses End Up In Commercial Litigation?
Businesses end up in litigation because they can’t agree on a resolution to their dispute. Someone once described litigation as just one more step in the negotiation process. It is a matter of having a judge come in to decide who is right and who is wrong, and what can be done as a result of it. You then wind up with a judgment, which may or may not be enforced and may or may not be the subject of an appeal. Fortunately, you still have the possibility of negotiating along the way.
Who Do You Represent In Commercial Litigation?
I represent debtors, creditors, landlords, tenants, and investors. We’ve represented everyone involved. Since I don’t limit the practice to plaintiff or defendants, I understand what my adversary is thinking. Some consider me an authority on the overlap between bankruptcy and criminality. My understanding the conflict from both sides’ perspective makes me more valuable to whomever I’m representing.
I’m Now Being Sued. What Are The Ideal Steps You Would Have Someone Take To Protect Themselves In A Potential Case Like This?
If you’re in business, somewhere along the line, you’re going to be sued. When you start your business, you should engage in some form of personal asset protection, so that your assets are protected when the inevitability comes.
If you are sued, hire someone who has experience in the form of the type of litigation you’re involved in. You don’t want someone who spends a small portion of their time doing it. You want someone who spends a good portion of their time doing it. About 95% of my time is spent in the area of bankruptcy and debtor/creditor law. In terms of commercial litigation, most of the time is spent in the area of fraud. The first thing you can do is have that lawyer contact the other side’s lawyer and see what can be done to resolve the issue.
Deal with commercial litigation as a business problem. It started as a business problem and the way to resolve it is as a business problem. Hopefully, you have a lawyer who will look at it that way too. If you have a secured creditor, check with that secured creditor. Consider, the impact of this on your relationship with your creditor. It could be default on your loan. You want to make sure that you’re able to sustain the siege.
If you are being sued, you are looking at the expense of defending yourself. It may be wiser for you to consider filing bankruptcy. Bankruptcy is a possibility. It’s a business strategy in the context of litigation. It may be less expensive than winning the action.
For more information on Commercial Litigation, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (212) 739-7599 today.
Call For Free 15 Minute Consultation