New Year May Not Be Time for Corporate Reorganization

A CEO often sees business reorganization as a way to repair what’s wrong with a company and companies sometimes hire a new leader based specifically on his vision for reorganization often at the beginning of a year.

Companies are feeling strong after the end of one year and are clawing their way back to health, hoping for full recovery seems to occur in January. But the plans should actually begin with the help of a skilled legal and financially-driven law firm familiar with state and national tax laws.

However, before deciding to take on a new financial plan, business structure, begin firing or hiring, consult with Eric Lanigan and Roddy Lanigan to decide whether a business reorganization in Orlando or any Central Florida city is a wise economic choice.

The reorganization of a company typically addresses the efficiency or inefficiency of current or past leadership and is sometimes done haphazardly in an attempt to quickly increase profits.

Corporate Reorganizations Can Be Risky

New chief executives often feel compelled to reorganize their companies. In fact, nearly half launch some kind of reorganization during their first two years on the job. But corporate reorganizations are risky investments of time, energy and resources, and many do little to improve the business.

The process of carrying out, through agreements and legal proceedings, a business plan for winding up the affairs of, or foreclosing a mortgage upon, the property of a corporation that has become insolvent.

Reorganization is ordinarily accomplished by way of a Judicial Sale of the property of the corporation. The purchasers then often form a new corporation to which a good portion of all assets of the old corporation are transferred. Handling this correctly with the proper procedures and financial considerations is important and can only be done by a trained and experienced attorney with a strong economic and financial background.

Both Eric Lanigan and Roddy Lanigan have the skill and the know-how from having handled many, many business reorganizations over the years.

The Lanigans work closely with the corporation or businesses’ litigation, tax, real estate and corporate counsel who provide insight and expertise on interrelated legal and business issues during debt restructuring and workouts.

While the Lanigans may not be the largest restructuring practices among Orlando and Florida law firms, it is one of the most experienced having a broad range of corporate clients and a range of diverse financial skills and knowledge to help a business successfully reorganize.

What’s the Plan of Action: How Do You Know It Will Work?

The key is developing a plan of action designed to achieve the client’s goals and executing the plan under what are often very difficult and rapidly changing circumstances.

Sometimes, businesses redesign their org chart which is almost always counterproductive if business leaders fail to think through what the critical decisions are for the business. Knowing who should be responsible for what issues and being able to pinpoint how the new structure will help people make and execute departments run better and more efficiently will help this process succeed.  

Regardless of whether the plan of action involves bankruptcy, insolvency or new management and business plans, Eric and Roddy Lanigan are fully prepared to protect and advance each client’s interests. Contact Winter Park Florida lawyers Eric Lanigan and Roddy Lanigan to find out what steps your business can take towards financial solvency in the new year.