Every business needs a lawyer at some point. Businesses come to Law Offices of Michael H. Yi for great service, solid legal advice and a lawyer who will team with them to find creative solutions. What our clients find is a firm that delivers greater value than they expected and that makes their business stronger.
At Law Offices of Michael H. Yi, we combine our business litigation experience with our asset protection and bankruptcy perspective to provide our clients with the most practical solution. Our business clients range from individuals starting a new business to well established businesses in the Southern California area. They are arrayed across all sectors of industry including wholesale fabrics, trucking, professional services, distribution and traditional manufacturing.
We advise our emerging business clients on issues including formation, shareholder agreements and operating agreements. With established businesses, we act as outside general counsel, advising them on commercial contracts, employment matters, as well as the full array of other legal and business issues they may face.
Under the United States Bankruptcy code, there are three commonly used chapters by the general public. These three chapters are referred to as chapter 7, chapter 13 and chapter 11 bankruptcies.
Depending on your qualifications and needs, our firm will assist you to determine which of the three chapters are right for you.
◾ Chapter 7
In this chapter, a person can completely eliminate their debt including bills from credit cards, medical providers, and private lenders. The entire process takes approximately four months after filing a petition with the United States Bankruptcy Court. If you are eligible for chapter 7 bankruptcy, this chapter affords you the quickest and most efficient way towards making a fresh start. Our law firm can help guide you through the process and decide whether filing is the right choice for you and your family.
◾ Chapter 13
Chapter 13 is most commonly used amongst those who wish to keep their home but are significantly behind on their mortgage payments or need to reorganize their payment structure. Unlike, chapter 7, there is a repayment plan which can last between 3 to 5 years. Under chapter 13 bankruptcy, a foreclosure or trustee sale can be immediately stayed and those who can afford to make a repayment plan on all arrearages owed to the bank may qualify. If you have a regular income and ineligible for chapter 7 bankruptcy, this chapter may be the right option for you.
◾ Chapter 11
For high net worth individuals or business entities, a chapter 11 bankruptcy allows you to manage the bankruptcy process, protect assets, and discharge debt. Most individuals who use this chapter have multiple real estate properties and/or own a business which has substantial inventory or machinery to protect. Like chapter 13, there is in most cases a repayment plan that must be confirmed by the bankruptcy court in order for your creditors to be bound.
Wage and hour disputes create the largest source of employer liability for businesses. All aspects of employee compensation have become the basis for employee lawsuits in California. California’s complex employment regulation and expansive federal regulations add to the compliance challenges facing employers. Only employers who are fully informed, prepared, and represented can deal with the burden of employment litigation.
Law Offices of Michael H. Yi has extensive experience in defending every type of wage and hour claim, ranging from employee misclassification, unpaid overtime, off-the-clock work, and missed meal and rest period issues, to improper deductions from paychecks and pay stub issues.
Our attorneys help employers recognize and address potential violations that could result in penalties or costly litigation. By providing employers with proactive advice and recommendations, our attorneys offer employers the tools they need to comply with applicable wage and hour laws and regulations, as well as the knowledge required to resolve wage and hour disputes informally as they arise in the workplace.
No one goes through life expecting to be injured. So when these traumas happen, the victims and their families are left without knowing what to do and how to go about making claims for damages. The shock of these events is further worsened by the fact that the injury was completely avoidable had an individual or business acted in a more appropriate and careful manner.
At Law Offices of Michael H. Yi, we represent people who have suffered a temporary or permanent injury, as well as families whose loved ones were tragically killed in preventable accidents. We are committed to holding negligent parties accountable for their careless actions and securing financial compensation for the victim and survivors.
Our lawyers focus on getting high-value results for each and every client. Our mission is to maximize the amount of compensation that our clients need and deserve for the physical, economic and personal impact of serious and catastrophic injuries.
Asset Protection is an area of law pertaining to the transfer of assets belonging to a person who is at risk of losing their assets due to pending lawsuits, high-risk business transactions, debt owed to federal or state tax agencies, or liability arising from secured transactions. It is a highly controversial topic, but one that is well worth exploring.
Some of the most commonly used structures in asset protection include creation of trusts, limited liability companies, equity strips, and sales to third parties. These structures will protect your home, investment properties, and financial investments from potential creditors.
Therefore, individuals concerned about protecting their assets should immediately consult with our attorneys at Law Offices of Michael H. Yi before it’s too late as timing is critical in developing a sound plan.