Chapter 11 and Wage Claims, Part 3: Personal Liability & Claim Priority—The Piece Most Owners Miss
Chapter 11 and Wage Claims, Part 3: Personal Liability & Claim Priority—The Piece Most Owners Miss By Andreas Koutsoudakis, Partner | Hospitality and Restaurant Law In Parts 1 and 2, we covered the bar date strategy and the three resolution pathways. But here’s the critical piece many owners miss: the business’s Chapter 11 discharge does […]
Chapter 11 and Wage Claims, Part 2: Resolution Pathways—Three Ways to Emerge Clean
Chapter 11 and Wage Claims, Part 2: Resolution Pathways—Three Ways to Emerge Clean By Andreas Koutsoudakis, Partner | Hospitality and Restaurant Law In Part 1, we discussed how the bar date creates finality by cutting off claims from employees who don’t file by the deadline. But that’s just one piece of the puzzle. This article […]
Chapter 11 and Wage Claims – Part 1: The Bar Date Strategy—Creating Finality for Your Entire Workforce
Chapter 11 and Wage Claims, Part 1: The Bar Date Strategy—Creating Finality for Your Entire Workforce By Andreas Koutsoudakis, Partner | Hospitality and Restaurant Law For New York restaurant owners drowning in wage and hour claims, Chapter 11 bankruptcy offers something that out-of-court settlements rarely can: finality. I’ve seen restaurant owners pay six figures to […]
Protecting Your Personal Assets from Wage & Hour Liability
Protecting Your Personal Assets from Wage & Hour Liability By Andreas Koutsoudakis, Partner | Hospitality and Restaurant Law Why Your LLC or Corporation Won’t Save You—And What Will If you own and operate a restaurant in New York, your LLC or corporation does not protect your personal assets from wage and hour claims. This is […]
How Chapter 11 Can Resolve Your Personal Guarantees and EIDL Loans
How Chapter 11 Can Resolve Your Personal Guarantees and EIDL Loans By Andreas Koutsoudakis, Partner | Hospitality and Restaurant Law A Practical Playbook for NYC Restaurant Owners Seeking Relief If you’re a restaurant owner in New York carrying COVID-era EIDL debt and personal guarantees that feel impossible to pay, I have good news: there are […]
Building a Bulletproof Entity Structure for Your Multi-Unit Restaurant Group
Building a Bulletproof Entity Structure for Your Multi-Unit Restaurant Group By Andreas Koutsoudakis, Partner | Hospitality and Restaurant Law A Practical Framework for NYC Restaurant Owners Growing a restaurant group in New York isn’t just about finding the next great location or perfecting your menu. It’s about building a legal foundation that protects what you’ve […]
My Fashion (Legal) Odyssey: Part 8: Why Details Matter – Important Lessons and a Tribute
My Fashion (Legal) Odyssey: Part 8 Why Details Matter – Important Lessons and a Tribute Like much in life, both the big picture and details matter in fashion contracts. But many fashion companies and designers pay too little attention to important details in negotiating fashion contracts. There are many reasons for that fact, including misplaced […]
Workout, Wind-Down, or Chapter 11: Choosing the Right Restructuring Path for New York Restaurants
Workout, Wind-Down, or Chapter 11: Choosing the Right Restructuring Path for New York Restaurants By Andreas Koutsoudakis, Partner | Hospitality and Restaurant Law When your restaurant is struggling, it’s natural to ask: “Do I really need to file bankruptcy?” The honest answer is – not always, but it’s often times either the best (and only) […]
The Restaurant Letter of Intent: Locking in Your Deal Terms Before the Lawyers Fight Over the Lease
The Restaurant Letter of Intent: Locking in Your Deal Terms Before the Lawyers Fight Over the Lease By Andreas Koutsoudakis, Partner | Hospitality and Restaurant Law The Letter of Intent (LOI) is where you set the business deal. The lease is where the lawyers argue over the details. If the LOI is vague or one-sided, […]
Before You Sign Anything: Site Selection, Zoning, and Building Issues for NYC Restaurants
Before You Sign Anything: Site Selection, Zoning, and Building Issues for NYC Restaurants By Andreas Koutsoudakis, Partner | Hospitality and Restaurant Law In New York City, picking the wrong space can kill a restaurant before the first plate leaves the pass. The rent might be “fair,” the block might be hot, and the landlord might […]