3 top qualities of a good banking and financial lawyer

Banking and financial law can mostly be complex because it’s a field that requires lawyers with skills in a wide array of fields related to banking and finance vis-a-vis their legal expertise. It’s therefore important to get the right lawyers with the right set of qualities to handle your legal needs.

In this article, we are going to look at the 3 top qualities of a good banking and financial lawyer.

They must be great at communicating complex concepts

Financial jargon can at times get too complex to be comprehended by a layman therefore a lawyer will be required to simplify this jargon. This is why it’s important for a lawyer to be great at communicating complex concepts for the benefit of their client and any other interested party in the case.

Their analytical skills must be to notch

Banking and financial law will involve a great deal of combing through large files with financial data which will need to be understood, summarized and the information logically organized for it to be easily understood by the parties in the case. The only way a lawyer can be able to achieve this is by having great analytical skills.

They must be problem solvers

A lawyer’s job is essentially to solve a legal problem that their client is facing or prevent their client from getting into a legal problem in the first place. This therefore requires a banking and financial lawyer to be both a proactive and a reactive problem solver who thinks very fast on their feet.

When shopping for a lawyer to offer you representation on your banking and financial legal matters, be sure to ascertain whether they possess these valuable qualities.

4 tips for successful mergers and acquisitions

In business, mergers and acquisitions are usually inevitable and will mostly signify a new chapter in the life of a company. It’s however worth noting that the process is never smooth because there are a number of legal requirements that must be followed to ensure that the process goes on as smoothly as possible.

In this article, we will briefly share with you 4 tips for successful mergers and acquisitions.

Tip 1: You must have the best legal representation

During the process of mergers and acquisitions plenty of due diligence will need to be done by both parties to ensure that the deal is right and a win-win for both parties. It’s therefore paramount to have a good legal team with the right expertise to comb through the agreement to ensure that the terms are right.

Tip 2: Get the right fit

When doing mergers and acquisitions, the only way the process goes smoothly is if the companies involved are the right fit. This is because for the two companies to be able to smoothly integrate their staff, services, customers, tools and so on, the fit must be right.

Tip 3: Always have the end in mind

During the process of mergers and acquisitions, it’s always important to be guided by the end result, that is, how will the final product of the merger look like? When you have a picture of the end, the idea is to work backwards putting the pieces together until the plan of action is clear to the teams involved in the exercise.

Tip 4: Ensure that your goals are aligned

When two companies are being merged into a single entity, or a company is being assimilated into another, it’s always important to ensure that both companies have the same goals as this is what ultimately ensures a smooth transition. This will include having a clear plan with regards to the fate of the staff, assets and so on.

Just to reiterate, mergers and acquisitions are complex therefore they will require working with a legal team with the right amount of experience and expertise. Therefore you must ensure that you have the best team of banking and financial lawyers to handle the process.

Here are the 3 main reasons you should consider declaring bankruptcy

Bankruptcy can be defined as the legal status of an individual or a company that can’t repay its debts to its creditors. Generally, bankruptcy is usually enforced by a court order following an application by a debtor. Bankruptcy is never a good position to be in, however from a legal and financial standpoint, it may be very necessary.

In this article we will look at the 3 main reasons you should consider declaring bankruptcy.

1 It will save you from getting auctioned

The moment you obtain a court order that has approved your application for bankruptcy, then any legal action that had been initiated against you by those you owe money to will be halted. These include auctions, foreclosures, and lawsuits, and even wage garnishments.

2 It will give you an opportunity to start a fresh

Once you successfully obtain a court order that declares you bankrupt in most cases all your debts will be cleared therefore giving you a clean bill to start on. It’s however important to ensure that your legal team has dotted all i’s and crossed all t’s because this may not apply blanketly in all jurisdictions.

3 It will give you an opportunity to save your home

Successfully filing for bankruptcy not only helps you save your home but other important assets such as your car, retirement savings as well as other household commodities. This is because once you are declared bankrupt and your debts are cleared, the court order will include barring your creditors from claiming such personal property.

It’s noteworthy however that there are usually some exceptions to these bankruptcy rules across different jurisdictions therefore it’s a good idea to have a very competent legal team handling your bankruptcy case so that you can get to enjoy all these benefits. All in all, be sure not to abuse these benefits because you may end up in worse legal troubles.