S Corporation Legal Challenges

Summary

An S Corporation in New York is dealing with a lawsuit from a former landlord, involving a stipulation agreement signed by mistake. The corporation is considering vacating the agreement, addressing contempt of court issues, and exploring Chapter 11 Subchapter V for debt reorganization. Additionally, theres a UCC filing on the corporations assets due to an SBA loan. Legal representation is crucial for navigating these complex issues.

Full Conversation

Arts s corporation with sole owner is facing vindictive x landlord filing a lawsuit a continuation of eviction filing made during NY governor’s moratorium. Using the stipulation agreement that was mistakenly signed by s Corp's lawyer. Due to continued harassment and retaliatory actions by then landlord, the s Corp had to move 12000sf of theatrical costumes and props. At a l & t court hearing The landlord (now an ex landlord) is trying to declare contempt of the court for not showing up at a deposition and trying to put the s Corp owner in jail. Would it be possible to vacate a stipulation agreement? ex land lord is asking the court to expedite imprisonment. S Corp owner is considering Filing chapter * sub * sell or leasing its assets to a not for Profit arts organization *(c)* I am . s Corp obtained an economic injury disaster loan from SBA and there is UCC filing on s corps' assets. Looking for helpful information
Hi Yon, that's quite a complex situation. Here are a few points that might help:
- Vacating a Stipulation Agreement: It may be possible if you can prove it was signed under a mistake or duress. You'll need legal representation to argue this effectively.
- Contempt of Court: Missing a deposition is serious. Attend all future court dates and consult an attorney to address this immediately.
- Chapter * Subchapter V: This could help reorganize debts and might offer protection from creditors while you restructure.
- UCC Filing: This means the SBA has a claim on your assets. Ensure any asset transfer considers this lien.
Would you like to be connected to local lawyers who can assist further with your case?
NO
Got it, Yon. Here are some general steps you might consider:
- Vacating the Stipulation Agreement: File a motion in court to vacate the stipulation, citing the mistake or duress.
- Contempt of Court: Attend all future court dates and consult with your attorney about the missed deposition.
- Chapter * Subchapter V: This can help reorganize debts and potentially protect assets while restructuring.
- UCC Filing: Be cautious about transferring assets as the SBA has a claim on them.
Would you like more detailed information on any of these points?