Tag: Paul Rushton

Utilizing the Calm before the Storm – Suggested Steps to be taken in Advance of the Sale of a Closely-Held Business

Posted by Sam O on

By Paul T. Rushton, Esq.

The sale of a closely-held business is typically one of the most important and stressful events in a business owner’s life.  The dual challenge of addressing the requirements of selling a business while continuing to operate the business in its ordinary course can perhaps best be described as being in the “eye of a storm.”  This can be particularly true for a closely-held business that is managed by a small number of individuals without the assistance of in-house counsel and/or accountants. However, by taking the following steps before embarking on the sale process (or, in the “calm” before the “storm”, if you will), the owners and managers of a closely-held business can reduce the level of anxiety attendant upon a future sale of the business and minimize the prospects of incurring liability in connection with the sale:  

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Two partners re-appointed to the Council of Business Law Section of the Pennsylvania Bar Association.

Posted by Sam O on

Lee S. Piatt and Paul T. Rushton, partners in our Firm’s Business & Finance Department, were recently re-appointed as members of the Council of the Business Law Section of the Pennsylvania Bar Association.

The province of the Business Law Section is the development and practical working of the law of the Commonwealth of Pennsylvania and of the United States, relating to business and nonprofit corporations, partnerships and associations, to banks and banking, and to the law relating to mercantile and commercial transactions, including the fields of bankruptcy, insolvency and receiverships and of business regulation law.

The Council is the governing body of the Section. Lee and Paul have previously served as members of the Council and are active in the Section’s Closely-held Business Committee (chaired by Paul), as members of the Title 15 Committee, and as contributors to the Section’s newsletter.