How has coronavirus affected bankruptcy law firm in Long Island?
Lawmakers are setting up a monetary and legal package to assist organizations with enduring the emergency. Be that as it may, the polish draft measures concerning the COVID-19 coronavirus pandemic don't unequivocally manage liquidation and restructuring law. The pandemic has made new bankruptcy law issues while intensifying existing ones. Subsequently, the following points ought to be considered in this circumstance. 1. Commitment to file a petition for bankruptcy within 30 days of the organization getting wiped out There is a risk that a few executives may go overboard and immediately document for a bankruptcy filing to maintain a strategic distance from criminal, civil, and disciplinary sanctions. There is no statutory remain on the necessity to petition for bankruptcy. If in case all the executives file for bankruptcy to protect themselves, this will probably frustrate restructuring conversations with creditors (banks and suppliers). 2. Delay in organizati...