On June 2, 2020, an Illinois bankruptcy court considered the force majeure clause in a restaurant’s lease. In re Hitz Restaurant Group, 2020 Bankr. LEXIS 1470. The court held that the force majeure clause was triggered by the government mandated shutdown order due to COVID-19 and thus restricted the amount of rent that the tenant
Read MoreHere is an interesting article that discusses the fiduciary duties of the board of directors when the company starts to slide into insolvency. You can read it here.
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Be aware that a scam letter which looks like it was sent from the California Secretary of State is being circulated to California corporations, and those doing business in California. http://www.sos.ca.gov/business-programs/customer-alerts/alert-misleading-solicitations-certificate-status/ The letter requests that the entity pay $49.50 to obtain a “certificate of status.” However, the payment request is a scam because no corporation
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