No one wants to be caught in the position of their company being sued.
Facing a lawsuit is generally not the type of thing anyone likes to focus on, but what happens if your company is being sued or threatened with legal action - do you know where you stand?
It does help to know where you stand and what your options are if a curly situation arises in the future. An experienced commercial litigation lawyer such as TY Lawyers in Chatswood can assist you with potential resolutions and next steps to move forward.
So what should you do if your company is being sued or is faced with a commercial litigation lawsuit?
In order to put yourself in the best position to handle the case, consider engaging a commercial litigation lawyer as a first step. That way, they can accurately read and interpret all the paperwork for you and advise accordingly.
They will discuss options on how to handle the case and if it’s an option to try and settle out of court - as going to court can take time, energy, focus and finance.
Any records that could be relative to the case should be preserved and kept for future reference.
Lawsuits can be filed by different stakeholders in relation to the business – employees, other companies, clients and shareholders to name a few.
Once your commercial litigation lawyer has advised you, clearly explained the case, the nature of the of the claims against you and the potential liability, you will need to decide on how to proceed and respond to the case. It’s also important to discuss potential costs at each stage of the litigation process.
There could be potential exit strategies and settlement options which should also be reviewed and considered. A response to the lawsuit needs to be completed within the outlined timeframe. TY Lawyers in Chatswood are commercial litigation experts.
Remember to let your commercial litigation lawyer know everything, don’t hide anything – they are your representation defending your business and interests and it’s important that there’s no surprises along the way.
Whilst the case is in motion, try to stay focused on your business and be available for your lawyer for any questions or queries in order to keep things moving along.
As in all legal situations, you should obtain personalised legal advice pertaining to your individual circumstance by consulting with an experienced commercial litigation lawyer or a litigation lawyer.
Note: It’s important to note that your business structure could affect whether you are personally liable in a commercial lawsuit. For example, in a business or partnership set up, you can be personally sued, but a director of a company cannot be personally sued in a legal case to do with the respective company. There are other exceptions to this rule, but this is the general rule of thumb.
If you’re in a situation where you’re company is facing a lawsuit, be on the front foot and be prepared. Contact TY Lawyers for a confidential discussion about your lawsuit challenges.
Call our friendly team today on: 02 8007 0135.