Litigation and Capital with Steven Mirsky

steven mirsky
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Litigation and Capital with Steven Mirsky, partner at Mirsky Corporate Advisors, breaks down high-stakes legal issues affecting companies earning $10-100 million annually. The show aims to help business owners turn complexity into leverage and protect their assets through expert legal insights and practical advice.

  1. Unconscionability in High-Dollar Commercial Deals: When Sophisticated Parties Still Get Protected

    Jun 22

    Unconscionability in High-Dollar Commercial Deals: When Sophisticated Parties Still Get Protected

    Episode Summary: In this episode of Litigation and Capital,  Steven Mirsky, founder of Mirsky Corporate Advisors, delves into the complexities of unconscionability in commercial contracts. Steven explains how courts differentiate between procedural and substantive unconscionability, particularly in high-dollar agreements between sophisticated parties. The discussion covers various scenarios, such as rushed negotiations and contracts of adhesion, and how courts evaluate the fairness of terms. Steven shares insights from real cases, highlighting the importance of meaningful consent and the challenges of proving unconscionability. The episode provides valuable guidance for CEOs and business leaders on negotiating contracts and recognizing potential pitfalls. Listeners will gain a deeper understanding of how to protect their interests in complex legal landscapes. Key Timestamps: 00:01 – Introduction 00:54 – Defining Unconscionability 01:39 – Procedural vs. Substantive Unconscionability 02:25 – Unconscionability as a Contract Defense 03:10 – Evaluating Procedural Unfairness 03:48 – Case Study: Lender's Unfair Terms 04:18 – Assessing Substantive Unconscionability 05:31 – Real-World Impact of Unconscionable Terms 06:09 – Judges' Views on Disclaimers and Sophistication 07:21 – Importance of Evidence in High-Risk Financing 09:16 – CEO's Role in Contract Negotiations 11:12 – Narrow Scope of Unconscionability 12:06 – CEO Optimism and Contract Analysis About the Show: Litigation and Capital is a podcast designed for business leaders and legal professionals navigating the complexities of high-stakes legal issues. Hosted by Sean O'Connor, the series features in-depth discussions with industry experts like Steven Mirsky, who break down intricate topics such as commercial litigation, contract law, and corporate strategy. The show aims to turn legal complexity into leverage, providing listeners with actionable insights to protect and grow their businesses. Whether you're a CEO, legal advisor, or entrepreneur, Litigation and Capital offers valuable perspectives to help you make informed decisions.

    15 min
  2. False Choice-of-Law Clauses: When Courts Ignore What Your Contract Says

    Jun 8

    False Choice-of-Law Clauses: When Courts Ignore What Your Contract Says

    Episode Summary: In this episode of Litigation & Capital, host Steven Mirsky, founder of Mirsky Corporate Advisors, and co-host Sean O'Connor delve into the complexities of choice of law clauses in contracts. They explore why courts might disregard the law selected by parties and how such decisions can reshape disputes. Steven outlines the high burden of proof required to challenge a choice of law provision, especially when it contradicts a state's fundamental policy. The discussion covers the intricacies of section 187 of the Restatement Second of Conflict of Laws, the importance of understanding the relationship between the chosen law and the parties, and the potential red flags that might indicate a choice of law provision won't survive judicial scrutiny. This episode is crucial for business leaders and legal professionals navigating high-stakes contracts, providing insights into protecting their interests and understanding the legal landscape. Key Timestamps: 00:01 – Introduction 00:26 – Importance of Choice of Law Clauses 00:50 – Courts' Threshold Issues 01:55 – High Burden of Proof in Litigation 02:23 – Fundamental Policy Violations 03:19 – Factors Courts Consider 04:25 – Indicators of Avoiding Scrutiny 05:10 – Role of State Registration 06:07 – Relationship Between Parties and Law 07:02 – Economic Structure vs. Legal Classification 08:23 – Court Preferences in Jurisdiction 09:09 – Judges' Approach to Contractual Provisions 10:19 – Impact of Aggressive Financing Arrangements 12:19 – Presumption Against Illegal Contracts 13:41 – Red Flags in Choice of Law Provisions About the Show: Litigation & Capital is a podcast designed for business leaders and legal professionals navigating the complex world of high-stakes legal issues. Hosted by Steven Mirsky, founder of Mirsky Corporate Advisors, the show breaks down intricate legal concepts affecting companies earning $10 to $100 million annually. Each episode aims to turn legal complexity into leverage, helping listeners protect what they've built. With a focus on clarity and actionable insights, Litigation & Capital equips its audience with the knowledge to make informed decisions in the ever-evolving legal landscape.

    17 min
  3. The Guaranty Trap: How “Limited” Guarantees Become Unlimited Liability

    May 25

    The Guaranty Trap: How “Limited” Guarantees Become Unlimited Liability

    Episode Summary: In this episode of *Litigation and Capital* Steven Mirsky delves into the intricacies of limited guarantees. He explains how provisions labeled as limited can often translate to open-ended liability for the signer. Steven highlights the importance of scrutinizing guarantee agreements to truly understand the extent of one's obligations, offering valuable insights for business owners navigating commercial financing agreements. Key Timestamps: 00:00 – Introduction to Litigation and Capital (EP 14) 00:45 – What Is a “Limited” Personal Guarantee in Commercial Financing? 01:45 – Why “Limited” Guarantees Often Operate as Full/Open-Ended Liability 03:00 – How Courts Evaluate the True Scope of a Guarantee (Language & Incorporation) 04:30 – Survivability Clauses: Do Guarantees Survive Expiration of the Main Agreement? 05:00 – Weight Judges Give to Meaningful Conditions That Actually Limit Liability 06:15 – Lender Communications & Expectations: Viewing the Business as Alter Ego 07:30 – Economic Reality vs. Contract Language in Guarantee Enforcement 08:45 – Red Flags in Guarantee Drafting: “Guarantee of Payment” vs. Collection 09:45 – Key Terms to Watch: Waivers, Joint & Several Liability, Full Performance 10:45 – Practical Advice: Assess Worst-Case Risk Before Signing 11:30 – Final Warnings & Closing Remarks 12:00 – Call to Action at mirskycorporateadvisors.com About the Show: *Litigation and Capital* provides expert insights into high-stakes legal issues affecting mid-sized companies, offering guidance on turning complexity into leverage. Join Steven Mirsky as he breaks down legal nuances and strategies for protecting your business.

    13 min
  4. Engineered Default: How Some Contracts Are Drafted So You Fail on Day One

    May 11

    Engineered Default: How Some Contracts Are Drafted So You Fail on Day One

    Episode Summary: In this episode of *Litigation and Capital* Steven Mirsky delves into the concept of engineered defaults in high-risk financing, specifically focusing on Merchant Cash Advances (MCAs). Steven explains how borrowers unwittingly default upon signing such agreements, leading to complex legal entanglements. He sheds light on common pitfalls such as stacking clauses and default triggers, emphasizing the critical need for business owners to conduct thorough cash flow analyses before entering into such agreements. Key Timestamps: 00:00 – Introduction to Litigation and Capital (EP 13) 00:45 – What Is an “Engineered Default” in High-Risk Financing & MCAs? 02:00 – How Borrowers Default Immediately Upon Signing (No Stacking Clauses) 03:30 – Role of Brokers, Coaching Calls, and Verbal Representations 04:30 – Stacking Explained: Why Multiple MCAs or Junior Financing Triggers Breach 05:00 – Courts’ Skeptical View of Engineered Defaults in California 06:15 – Default Fees vs. Asset Freezes – When Remedies Seem Inequitable 07:30 – Tension Between Receivables Ownership and Stacking Restrictions 08:30 – Funder Communications & Internal Records on Default Expectations 09:45 – Fixed-Payment Pressure vs. True Reconciliation in MCA Agreements 10:30 – How Courts Analyze “Loan vs. True Sale” When Defaults Are Engineered 11:30 – Specific Clauses to Watch for Early Default Traps 12:15 – Cash Flow Reality Check: Why Consistent Revenue Still Leads to Breach 13:00 – Final Warnings: Non-Negotiable Contracts and Survival Risks 13:30 – Closing Remarks and Call to Action at mirskycorporateadvisors.com About the Show: *Litigation and  Capital* with Steven Mirsky provides valuable insights into navigating high-stakes legal issues impacting mid-sized companies. Each episode offers strategic guidance on turning legal complexities into business advantages. Tune in to gain a deeper understanding of legal pitfalls and safeguard your company's interests.

    14 min
  5. When a “Receivable Purchase” Is Really a Loan: How Courts Recharacterize MCA Deals

    Apr 27

    When a “Receivable Purchase” Is Really a Loan: How Courts Recharacterize MCA Deals

    Episode Summary: In this episode of *Litigation and Capital* Steven Mirsky delves into the intricacies of receivable purchase agreements, shedding light on how these agreements, often labeled as purchases of future receivables, can sometimes function more like loans. Steven explains the key factors that courts consider to determine the true nature of these agreements, offering valuable insights for business owners navigating such contracts. Key Timestamps: 00:00 – Introduction 01:45 – Differentiating between receivable purchase agreements and loans 03:30 – Key components of an MCA agreement 05:15 – Allocation of risk in receivable purchase agreements 07:00 – Judges' perspectives on evaluating these agreements 09:20 – Impact of reconciliation mechanisms on the legal evaluation 11:45 – Usury laws and their implications on these transactions 13:30 – Recharacterization of agreements and its significance 15:10 – Indicators of disguised loans in receivable agreements About the Show: *Litigation and Capital* is a podcast hosted by Steven Mirsky that focuses on dissecting complex legal issues affecting businesses earning between $10 to $100 million annually. Each episode provides valuable insights to help business owners navigate legal complexities and safeguard their hard-earned assets.

    17 min
  6. Jurisdiction and Choice of Law: Why the Same Case Wins in One State and Fails in Another

    Apr 13

    Jurisdiction and Choice of Law: Why the Same Case Wins in One State and Fails in Another

    Episode Summary: In this episode, Steven Mirsky delves into the intricate details of jurisdiction and choice of law in business contracts. He explains how these factors play a significant role in determining the outcome of legal disputes and why they are often overlooked or misinterpreted in contractual agreements. Key Timestamps: 00:00 – Introduction to Litigation and Capital 00:45 – Jurisdiction vs. Choice of Law: What They Mean and Why They’re Often Confused 02:00 – How Courts Decide Which State’s Law Applies (Even If a Case Is Already in Progress) 03:30 – Restatement §187: The Three-Part Test for Enforcing Choice-of-Law Clauses 05:00 – Public Policy Exceptions That Override Out-of-State Choice-of-Law Provisions 06:30 – Practical Differences Between States (e.g., New York vs. Utah on Usury Laws) 08:00 – Forum Selection Clauses and Challenges to Personal Jurisdiction 09:30 – Cross-Border Contracts: U.S. vs. Foreign Law, Hague Convention, and Service Issues 11:00 – Recommended Jurisdictions for International Deals (e.g., Canada or UK) 12:00 – Arbitration as a Way to Avoid Jurisdiction and Choice-of-Law Battles 13:00 – Drafting Tips: Coordinating Governing Law, Venue, and Jurisdiction to Minimize Risk 14:00 – Final Advice for Business Owners and Closing Remarks 14:30 – Call to Action at mirskycorporateadvisors.com About the Show: *Litigation and Capital* is a podcast where legal expert Steven Mirsky provides valuable insights into high-stakes legal issues affecting businesses earning between 10 to 100 million a year. Join us as we break down complex legal concepts to help you protect and leverage your business effectively.

    18 min
  7. The Lifecycle of a Lawsuit: From Complaint to Judgment

    12/22/2025

    The Lifecycle of a Lawsuit: From Complaint to Judgment

    Episode Summary: In this episode of *Litigation and Capital*, Steven Mirsky, founder of Mirsky Corporate Advisors, delves into the step-by-step process of civil litigation against companies. From the initial filing to case resolution, Steven explains the key documents involved, court jurisdiction requirements, procedural options for defendants, and the pivotal role of discovery in shaping legal outcomes. Key Timestamps: 00:00 – Introduction 01:15 – Documents in a civil case: Complaint, Summons, ADR packet 03:30 – Understanding court jurisdiction requirements 06:45 – Procedural options for defendants: Answering the complaint, Motion to Dismiss, Arbitration 09:20 – Rule 12-B6 and failure to state a claim in commercial litigation 12:00 – Importance and stages of the discovery phase in litigation 15:30 – Contrasting procedural rules between state and federal court 19:00 – Wrapping up insights on civil litigation with Steven Mirsky About the Show: *Litigation and Capital* hosted by industry expert Steven Mirsky, offers insightful analysis on the legal complexities surrounding high-stakes issues impacting companies earning ten to a hundred million dollars annually. Through detailed breakdowns and practical advice, Steven helps listeners navigate the intricate world of corporate litigation, turning challenges into opportunities for protection and growth.

    19 min
  8. The Clause That Decides Everything: How Governing Law Shapes Your Deals

    12/08/2025

    The Clause That Decides Everything: How Governing Law Shapes Your Deals

    Episode Summary: In this episode of *Litigation in Capital*Steven Mirsky delves into the significance of governing law clauses in contracts. He explains how these clauses determine the applicable law for contractual disputes and why they are crucial for businesses engaging in transactions across different jurisdictions. Key Timestamps: 00:00 – Introduction 01:30 – Importance of Governing Law Clauses 03:45 – Impact of Jurisdiction on Contractual Disputes 06:15 – Choosing a Neutral Forum 08:20 – Differences in State Laws 10:00 – Venue Clauses vs. Governing Law Clauses 12:45 – Variations in Wording and Legal Outcomes 15:30 – California's Choice of Law Analysis 18:10 – Arbitration Provisions and Governing Law 20:45 – Handling Contracts without Governing Law Clauses 23:00 – Advice for Evaluating Governing Law Clauses About the Show: *Litigation in Capital* with Steven Mirsky offers valuable insights into high-stakes legal issues impacting businesses earning between 10 to 100 million dollars annually. Each episode breaks down complex legal concepts, empowering companies to navigate legal complexities and safeguard their assets effectively.

    19 min
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Litigation and Capital with Steven Mirsky, partner at Mirsky Corporate Advisors, breaks down high-stakes legal issues affecting companies earning $10-100 million annually. The show aims to help business owners turn complexity into leverage and protect their assets through expert legal insights and practical advice.

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