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Alternatives to Bankruptcy: The Impact on Trade Creditors

Event

When:
Mon, July 17, 2017, 15:00 - 16:30
Category:
Teleconferences

Description

Alternatives to Bankruptcy: The Impact on Trade Creditors

General Information

Time: 3:00 - 4:30 pm ET
Cost: Members: $95
NonMembers: $195


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General Information
Time: 3:00 - 4:30 pm EST
Cost: Members: $95
NonMembers: $195

Description

With the expanded rights that the 2005 amendments to the Bankruptcy Code granted to certain classes of creditors and huge professional fees, bankruptcy has become a less viable alternative for smaller financially distressed companies. As a result, debtors have more frequently availed themselves of non-bankruptcy vehicles, such as assignments for the benefit of creditors, receiverships, Uniform Commercial Code Article 9 sales and foreclosures, out of court compositions, and other non-bankruptcy devices. Some of these "out of court" vehicles, when handled correctly, may produce a faster and greater distribution for creditors than would have occurred in a more expensive and slower bankruptcy case. This program discusses these non-bankruptcy alternatives, how they differ from bankruptcy cases, how trade creditors should respond when their customer opts for any of these alternatives and their impact on trade creditors. Real life examples will also be discussed. Questions from the attendees should enliven the session.

Presenter

Bruce S. Nathan, Esq.
Bruce S. Nathan, Esq. is a partner of Lowenstein Sandler LLP in the firm’s bankruptcy, financial reorganization and creditors’ rights group. Bruce has more than 30 years’ experience in the bankruptcy, restructuring and insolvency field. He co-chaired the Avoiding Powers Committee, which worked with the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11. He also is a former member of ABI’s board of directors and previously co-chaired ABI’s Unsecured Trade Creditor Committee. He authored ABI’s Trade Creditor Remedies Manual: Trade Creditor Rights under the UCC and Bankruptcy Code and contributes to ABI Journal’s Last in Line Column. Bruce also is a member of NACM’s Government Affairs Committee, a regular contributor to NACM's Business Credit, a contributing editor of NACM’s Manual of Credit and Commercial Laws, as well as a co-author of The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: an Overhaul of U.S. Bankruptcy Law, published by NACM.

 

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