Learn what is there in Chapter 13 of the Bankruptcy code

Filing bankruptcy indeed disturbs the financial status of a person and the disruption may continue for years. But still, when your current financial condition is not in your favor or you are under huge debt which you feel you cannot pay, filing for bankruptcy is a wise decision. It not only helps you to clear the debts but also puts the debt collection procedure on hold until the bankruptcy case is resolved or the suspension period is over. Chapter 13 of the bankruptcy code provides an individual with regular income, a chance to clear the debts and reorganize the finances. As per New York bankruptcy law, this chapter allows the debtors to make a repayment plan to clear the debts. The plan usually is for 3 to 5 years. In the meantime, you will not be disturbed by the creditors and their process of collecting debts. If any creditor tries to violate the law, he is likely to receive the contempt of court notice.

When it comes to filing bankruptcy under chapter 13, you must know all the details regarding details. Though any Long Island bankruptcy lawyer or attorneys from other places can give you the best suggestion regarding it, here are some details that may help you to understand chapter 13 and its clauses.

 

A person having a regular income through self-employment or business can file bankruptcy under chapter 13. To file a case under this chapter, the person’s secured and unsecured debts must be less than the stipulated amount. However, there is one condition. If any previous bankruptcy case was dismissed before due to any fault from the debtor’s side, the debtor cannot file a bankruptcy case within 180 days after the previous dismissal. A chapter 13 bankruptcy case begins when a debtor files the petition with the bankruptcy court of his own residential area. To continue the proceeding, the debtor must file certain documents i.e. the list of assets and liabilities; details of current income and expenses; details of unexpired leases and administrative contracts; and a statement of all financial affairs. After providing the necessary documents and verification process, the case begins and proceeds as per the requirements.

Chapter 13 was introduced to take care of the interests of both the debtor and the creditor. However, it is implied to ensure the maximum return to the creditors and the satisfactory clearance of debts on the side of the debtors. So, Chapter 13 is a way out if you are in huge debt and planning to get out of it. But do not forget to consult a professional Long Island Bankruptcy lawyer before filing the case.

Hire Business Transaction Lawyer for Secured Transaction Process

Whether it is buying a business, or selling a business, or drafting a business contract, business transaction attorneys handle everything with their legal proficiency. Business transaction lawyers help businesses to deal with all the legal intricacies related to any kind of business transactions. They provide proper advice and suggestions to maintain the growth of the businesses. With the clear observation of all the details, the lawyers assist the business owners to solve the legal troubles in the transactions. Business litigation lawyers are especially hired by business owners to run the business smoothly without any hassle. 

However, business transaction lawyers often handle the following matters:

Contract Negotiation, drafting, and review: When a business owner hires a business transaction lawyer, he helps with negotiation, draft, or review for any contract. Before signing a contract with your shareholders or any business contractor, multiple legal intricacies must be taken care of.

Loan financing, refinancing, and work out: Loan is a significant aspect for any business, especially for small businesses. Business lawyers help with loan financing and refinancing which help to maintain the cash flow in a business. They also guide the proper investment of the loans.

Government Licensing and Permit: Many transactions ask for an authorized license from the government.  Business transaction lawyers help in granting permission. Even if you are planning to run an e-commerce business, you will require certain licenses like a business operation license to run the business in your state, city, or area.

Small business formation: It is necessary to build strategic plans to form any start-up or small business. Business lawyers are usually experienced enough to build effective strategies and implement them in forming a small business.

Buy or Sell Agreement: Buy or sell agreement ensures the reassignment of the shares of the business if a partner leaves the business or passes away. Learned business attorneys help in this matter dealing with both of the types of agreement e.g. cross-purchase agreement and redemption agreement.

General Business Law: Business litigation lawyers or transaction lawyers solve any legal pursuit. But also help the business owners to know about the details of business law.

Facts You Must Know to Deal with P.A.C.A Litigation

P.A.C.A. law aims at ensuring fair and transparent trading practices in the areas of buying and selling of fresh and frozen fruits, vegetables and other agricultural food items. The term P.A.C.A. stands for Perishable Agricultural Commodities Act. The act has been brought into practice majorly to take care of the interest of the distributers and vendors. This is to ensure whether the dealers and vendors are getting properly paid or not. This food law also covers the issues in which the customers leave debts to the vendors due to loss in business, bankruptcy and so on. Sometimes the buyers simply refuse to pay money to the vendors. Then the law helps the dealers and vendors to clear the hackle and get the money.

P.A.C.A. has set a certain “rules of the road” in United States. It is now in use for global standards as well. This law is used at large to solve the disputes between buyers and sellers in overseas deals. In United States and in other places as well vendors selling perishable agricultural items, often face litigations and troubles regarding the payment. That is why P.A.C. A. was enacted in 1930. Now, vendors can go to a food lawyer and proceed with the legal procedure that secures their money.

All traders of the produce industry in the United States must register themselves under this P.A.C.A law to protect their rights. The law declares that any kind of unfair or fraudulent activities is not acceptable. The activities include: mislabeling, misrepresentation, rejection of products by the buyer without any proper cause or prior notice, dumping more than 5% of production in a shipment without verification and so on. The P.A.C.A law is strict about the license. Without maintaining proper licensing requirements determined by USDA, the P.A.C.A law will never allow anybody to engage in the produce industry.

If you are a dealer and facing problems regarding payment or litigation due to any unfair practice, you may submit complaint to P.A.C.A. You have to submit the complaint either through ePACA portal or via direct mail to a regional office. Before submitting the complaint you must make sure that you have read all terms and conditions well. And also you must keep in mind that the party against which you are complaining must be registered under P.A.C.A. law.

The Network of Food & Beverage Lawyers

Food law, by concept, is the codified collection of laws and regulations that govern food through the three stages of production, distribution, and consumption. Food laws mainly aim to protect potential consumers and provide for the efficient growth and use of food products. Food attorneys focus their careers on helping clients comply with food laws and regulations. Besides, they work on behalf of government agencies making or enforcing food laws and policies.

Food laws are primarily enacted to protect potential consumers against unsafe, adulterated, and misbranded food, while also facilitating the movement of food and associated food products across national and international state borders for humanitarian aid or economic purposes. While discussing fortified foods, potential consumers must be protected from receiving either toxic or nutritionally ineffective levels of nutrients. 

Legislation, therefore, becomes necessary to require adequate control over this fortification process by food processors to ensure that levels of nutrients are consistently kept within acceptable limits. The legislation is also required to prohibit the addition of nutrients in food products where it is nutritionally and wholly unnecessary or unsafe, or where fortification through adding excess nutrients may create an erroneous impression concerning the nutritional value of the food/food product.

Any legislation involving food fortification should include the standards, recommendations, and guidelines prescribed by the government and the health ministry of said country. The primary purpose of these laws is to make food businesses do what they can to assure that their product is safe for consumption: prohibit food businesses from taking actions that will render their product unsafe; assure that their consumers have the necessary information needed to make their decisions; prohibit businesses from providing misleading information to their consumers; provide their consumers with an opportunity to learn about nutrition, food preparation techniques, and understanding and using information about food products wisely. If stringent food laws are not in place, then it becomes easy for food companies/brands/exporters to take undue advantage of the lax regulations and make a practice of duping their potential consumer base with adulterated and substandard food/food products. This could lead to food-induced viruses and infections and the spread of stomach ailments among the consumer base.

Food lawyers’ study, use, and create rules and regulations to improve food nexus. The client can be a chef, the city or federal government, a non-profit organization, or a farmer. The work of food lawyers touches every area of law: zoning, contracts, environmental, constitutional, international, trade, patents, animal and human rights, immigration. Being a food lawyer requires interdisciplinary thinking and an intensive knowledge of different types of legalities and litigation and using the existing legal system in inventive ways to protect the consumers. Food lawyers almost always offer more than other regular lawyers as they know the technicalities of food regulations and the conditions of food production and retailing. Food law is rarely taught at universities as a course. It is a skill that is acquired through years of practice and by being very closely associated with the food sector.

Hire Bankruptcy Lawyer to Solve Your Bankruptcy Issue

Is your business under debt? Are you on the verge of bankruptcy? Then you must opt for a bankruptcy lawyer who will guide you regarding your case of bankruptcy following the rules and guidelines of bankruptcy law. Each state in different countries has its own law for bankruptcy. Your bankruptcy lawyer will assist you through the way to solve your bankruptcy related issues and litigations following Long Island Bankruptcy Law or New York Bankruptcy Law as per the requirement. Now, if you are already bankrupt and thinking that there is no point in hiring a bankruptcy lawyer, you are wrong then. Even if you are at the final stage of bankruptcy a learned Long Island Bankruptcy Lawyer can help you with many things. With his acquired knowledge and experience, he can assist you through court proceedings and can advocate reducing or eliminating the debt. Even if you want to proceed with the bankruptcy he can guide you through the way. Be it an individual debtor or a corporation under debt, bankruptcy lawyers in Long Island always guide the clients, represent them in court and advocate for the sake of the clients.

If you are a creditor in Long Island, you must need an experienced Long Island Bankruptcy Lawyer to understand the details of the Long Island Bankruptcy Law and to go through the legal proceedings. A Bankruptcy Lawyer helps you to extract maximum amount of debt from the debtors. Bankruptcy lawyers are needed both in and out of the court. As inside the court they will advocate on behalf of their clients, be it debtor or creditor, outside they can assist their clients regarding all the minute details of the legal procedures. In cities like New York, being a debtor or a creditor, it is important to hire a good New York Bankruptcy Lawyer to understand the points of New York Bankruptcy Law.

Are bankruptcies going to increase post COVID-19 pandemic?

Predicting the economic future is always a tough task and in the aftermath of a pandemic, it’s almost impossibility. One thing’s for sure, the world will be hurtling towards a prolonged recession and bankruptcies are surely going to increase in the absence of adequate Govt. stimulus and tax cuts. The only question is what be the shape of the upward spiral? Will it be a steep rise or will the increase be in a phased manner?

The filings for bankruptcies under Long Island bankruptcy law won’t be evident in the immediate aftermath of the pandemic. There is already a foreclosure moratorium on all federally backed mortgages, which are two-thirds to three-quarters of all mortgages. Collections of student loans have hit the pause button. There is support across the political spectrum for state moratoriums on debt collections and rent evictions. All these initiatives will collectively reduce the immediate pressure on people to declare bankruptcy. Moreover, most people will look to weather the initial storm in the expectation of bigger government support.

The real problem will start manifesting only after a few months when the actual economic impact will trickle down across all strata of the society. There is a difference between being financially distressed and filing for bankruptcy. Once the economy is on a road to recovery, the filings for bankruptcy will start trickling in after people have carefully weighed out all possible options of mitigating the onslaught of the pandemic. Surprisingly, recession has not always been associated with filing of bankruptcy. The largest surge for bankruptcies was recorded in the 1990s when the economy was in a boom. Bankruptcy filing by Long Island bankruptcy lawyers, was at its lowest ebb in the United States just before the virus stuck.

The current situation is simply without precedence. The financial devastation of the Great Depression unfolded over many years. The closest precedent is the Spanish flu pandemic of 1918, but the consumer credit system didn’t exist then like it does today. It is only to wait out for the situation to unfold before New York Bankruptcy lawyers can give out an exact estimate of the unfolding situation.

Ensuring Food Safety in a Pandemic

These are not easy times for the food and packaging Industry. The entire farm-to-fork production and delivery chain has been put under tremendous stress with major virus induced disruptions. For food manufacturers, the implementation of social distance rules have brought in a collateral damage to business prospects as this has severely handicapped the entire workforce. Regular inspections by FDA and USDA have been put on hold. This unprecedented situation has presented a unique opportunity for businesses – this is the time to go for fully automated production and remote monitoring mechanism with minimal human intervention. An establishment of a proper mechanism in consultation with food lawyers will ensure a strict adherence with the PACA law and other food safety laws.

While there is yet no evidence that COVID – 19 can be transmitted through food packaging; there are always chances of the virus staying alive on a surface for a few hours after coming into contact with an infected individual. In the meanwhile, food supply operations have been classified as essential services. This basically means continued operations in the face of severe challenges with adequate protective mechanism. 

The Way Forward 

It is imperative for food safety teams to continue operations in manufacturing units while looking at possible ways at minimizing virus exposure and health impact on staff. Food safety guidelines have been recently published and it stresses mainly handwashing, employee hygiene, following SOPs and GMPs, avoiding contamination and following well established food safety management practices and programs. The bottom-line is to ensure proper hygiene in accordance with the food safety laws across the entire chain which is expected to keep the virus at bay. Installation of adequate working mechanism in consultation with food safety lawyers will go a long way in this fight against the pandemic.