From Ledger to Courtroom: How CPAs and Attorneys Tackle Business Distress

When businesses face financial distress, CPAs are often the first to see the warning signs. In this episode, host Sufyan Momin speaks with Salene Kraemer, Managing Partner, MAZURKRAEMER, and a Board-Certified Business Bankruptcy and Restructuring Attorney with 25+ years of experience advising on complex restructuring and bankruptcy matters. She discusses the financial risks distressed business owners often take — including borrowing from family or tapping into protected retirement funds — and shares practical guidance for CPAs and fellow attorney firms on when to involve legal expertise and how to manage client engagements in high-risk restructuring scenarios.