Webinar: Bankruptcy Rumblings: How To Best Position Your Company in Advance of Customer Bankruptcy

Bankruptcy Rumblings: How To Best Position Your Company in Advance of Customer Bankruptcy

General Information Time: 3:00 - 4:30 pm EST Cost: Members: $299  NonMembers: $349

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Description

Credit executives often deal with financially distressed customers at risk of bankruptcy sometime in the future and grapple with when they should be taking steps to reduce their exposure. This is particularly the case now when significant sectors of the U.S. economy, such as the oil, gas, mining and steel industries are in real financial distress as a result of the historically low prices for oil and gas, and there has been an increased risk of bankruptcy filings in these industries and in retail and health care. This session discusses the early warning signs characterizing troubled companies at risk of a future bankruptcy filing and the available sources of information from which credit executives can learn of these warning signs. Numerous examples will be discussed and recent case studies will be presented to show how all these warning signs accumulate and point toward the inevitable. There will also be a review of the questions to ask and information to obtain from a financially distressed privately held customer. Credit executives will also learn how they can use this information to negotiate for protection from the risk of nonpayment from, or otherwise utilize the multiple available legal tools that would enable them to reduce terms and otherwise enhance the likelihood of payment of claims against, a struggling customer.

Presenter

Bruce 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 thirty years' experience in the bankruptcy, restructuring and insolvency field and is a recognized national expert on trade creditor rights and the representation of trade creditors in bankruptcy, insolvency and other legal matters. He 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, and is currently representing the liquidating trustee and previously represented the creditors' committee in the Borders chapter 11 case. Bruce is co-chair of the Avoiding Powers Committee that is working 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 ABI and co-sponsored by Georgetown University Law Center. He is also a former member of ABI's Board of Directors and a former Co-Chair of ABI's Unsecured Trade Creditor Committee. He is also the author of 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 is also a member of NACM's Government Affairs Committee, is a regular contributor to NACM's Business Credit, is a contributing editor of NACM's Manual of Credit and Commercial Laws, and has co-authored The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: an Overhaul of U.S. Bankruptcy Law, published by NACM. In January, 2014, Bruce also spoke on Navigating the U.S. Bankruptcy System: Opportunities for Profit, Strategies to Minimize Losses at a seminar entitled Current Issues Facing China-Based, U.S. Listed Companies, sponsored by Marcum Bernstein & Pinchuk, and held in Guangzhou, Shanghai, and Beijing, China. He also spoke at the 4th China International Credit and Risk Management Conference on the People's Republic of China's 2006 Law on Enterprise Bankruptcy. In 2011, Bruce received the Top Hat award, a prestigious award honoring professionals in the credit industry, and Bruce has also been recognized in the Bankruptcy & Creditor/Debtor Rights section of Super Lawyers (2012-2013). He received his BA from the University of Rochester, his JD from the University of Pennsylvania Law School and his MBA from the Wharton School of Finance and Business.

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