Webinars

  January 28, 2009 at 02:00PM ET

Bankruptcies and out-of-court liquidations have spiked, forcing the vendor to consider, and attempt to manage, preference risk with vendor customers that may be in financial difficulty to whom they have extended terms.

With the spike in bankruptcies and out-of-court liquidations, comes the spike in preference demands.

How can the vendor be proactive to reduce preference risk? What billing (including changing credit terms and credit lines), collection (including changing payment methods) and application of payment strategies should the vendor consider? How should the vendor respond to the preference demand? Will the changes under the Bankruptcy Reform Act improve the vendor’s preference defenses?

Join IOMA and our expert faculty in this 90-minute interactive webinar and you will find out:

• What is a bankruptcy and state law preference;
• What are the elements and burdens of proof that a trustee must establish for a preference;
• The impact on changing credit terms, credit lines, payment methods, and early pay discounts to a preference defense;
• The common defenses available to the vendor and how the counts are considering: contemporaneous exchange; ordinary course of business; and new value;
• How the Bankruptcy Reform Act changes the defenses;
• The documents the credit professional needs to build the preference defense;
• Communicating with the customer prior their bankruptcy filing: things you should not say (especially in writing);
• Creative defenses to the preference demand;
• Statute of limitations: how much time does the debtor or trustee have to commence the preference lawsuit; and
• How to build preference defenses.
• And much more!

FEATURED FACULTY:

Scott E. Blakeley
Blakeley & Blakeley LLP

Scott Blakeley is a partner in the California law firm of Blakeley & Blakeley LLP, where he advises companies around the country regarding creditors’ rights, commercial law, e-commerce and bankruptcy law. He was selected as one of the 50 most influential people in commercial credit by Credit Today. He is contributing editor for NACM’s Credit Manual of Commercial Law, contributing editor for American Bankruptcy Institute’s Manual of Reclamation Laws, and author of A History of Bankruptcy Preference Law, published by ABI. Credit Research Foundation has published his manuals entitled The Credit Professional’s Guide to Bankruptcy, Serving On A Creditors’ Committee and Commencing An Involuntary Bankruptcy Petition. Scott has published dozens of articles and manuals in the area of creditors’ rights, commercial law, e-commerce and bankruptcy in such publications as Business Credit, Managing Credit, Receivables & Collections, Norton’s Bankruptcy Review and the Practicing Law Institute, and speaks frequently to credit industry groups regarding these topics throughout the country.