Cost: Members: $95
US: 3:00pm ET
Most states have enacted mechanic’s liens in favor of creditors that provide goods and/or services on construction projects. Some states have also enacted, and parties in the construction supply chain can agree to, trust fund protection in amounts owing to general contractors and subcontractors. This program focuses on a creditor’s ability to maintain and enforce its mechanic’s lien and construction or builders trust fund rights where a customer in the construction supply chain files for bankruptcy. The speakers will discuss the impact of the automatic bankruptcy stay and other provisions of the Bankruptcy Code on mechanic’s lien rights. The speakers will then discuss the impact of the local mechanic’s lien statute on a creditor’s ability to maintain and enforce its mechanic’s lien rights in its customer’s bankruptcy case. Also, there will be a discussion of the superior status conferred upon the beneficiaries of a construction or builders trust fund that increases the likelihood of payment of their claims. Finally, creditors’ ability to invoke their lien or trust fund status as a defense to preference claims will be discussed.
Bruce S. Nathan, Esq. is a partner in Lowenstein Sandler’s Bankruptcy, Financial Reorganization & Creditors' Rights Department. He has over more than 35 years' experience in the bankruptcy and insolvency field, and is a recognized national expert on trade creditor rights and the representation of trade creditors in bankruptcy and other legal matters. Bruce has represented trade and other unsecured creditors, unsecured creditors' committees, secured creditors and other interested parties in many of the larger Chapter 11 cases that have been filed. Bruce also handles letters of credit, guarantees, security, consignment, bailment, tolling and other agreements for the credit departments of institutional clients. Bruce was co-chair of the Avoiding Powers Committee that worked with the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11 and also participated in ABI's Great Debates at their 2010 Annual Spring Meeting, arguing against repeal of the special BAPCPA protections for goods providers and commercial lessors, and was a panelist for a session sponsored by the American Bankruptcy Institute. Bruce is also a co-author of "Trade Creditor Remedies Manual: Trade Creditors’ Rights under the UCC and the U.S Bankruptcy Code" published by the American Bankruptcy Institute ("ABI") at the end of 2011, has contributed to the ABI Journal, and is a former member of ABI's Board of Directors, and a former Co-Chair of ABI’s Unsecured Trade Creditors Committee. Bruce is a frequent presenter at industry conferences throughout the country, as well as a prolific author regarding bankruptcy and creditors’ rights topics in various legal and trade publications, including NACM’s Business Credit. Among his various legal recognitions, Bruce received the Top Hat Award in 2011, a prestigious annual award honoring extraordinary executives and professionals in the credit industry. He is recognized in the Bankruptcy & Creditor/Debtor Rights section of Super Lawyers (2012 – 2018) and the Super Lawyers Business Edition. Bruce received a J.D. from the University of Pennsylvania Law School; an M.B.A. from Wharton School of Finance and Business; and a B.A., Phi Beta Kappa, from the University of Rochester.
Chris Ring, the National Sales Representative for NACM’s Secured Transaction Services, specializes in assisting credit professionals secure their receivables using Mechanic’s Lien Laws and Article 9 of the Uniform Commercial Code. Chris consults with companies on a daily basis, leading them to find the best way to use these credit tools to assure that they are in the best possible position to get paid.
Since 2002, Chris has presented seminars on both Mechanic’s Liens and UCC Filings for companies, NACM Affiliate Credit Conferences, NACM Industry Credit Groups and CFDD Meetings.
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