Learn how bankruptcy influences collection efforts and how to properly respond to a bankruptcy.
The filing of a bankruptcy always complicates and in many ways frustrates a creditor’s collection efforts. However, there are steps that can be taken and strategies that can be employed to maximize the potential for recovery in such situations. Knowing the bankruptcy process, the types of claims, and certain advantages provided to creditors in the Bankruptcy Code are key in evaluating the best path. Moreover, preparing for a potential bankruptcy while in the process of settling a collection action can often help mitigate the possible clawback of settlement funds in a future bankruptcy. Knowledge of these issues can greatly benefit internal collections and outside collection counsel if and when a bankruptcy is filed.
Learning Objectives
- You will be able to discuss the key steps in the bankruptcy process and how they affect creditors and creditors’ rights.
- You will be able to review the effects of the automatic stay and what creditors can and cannot do following a bankruptcy filing.
- You will be able to define the effects of a debtor’s discharge and who gets the benefit of that discharge.
- You will be able to recognize ways to be better positioned against avoidance of settlement payments in the face of a potential bankruptcy filing.
Agenda
Bankruptcy 101
- Understanding Primary Bankruptcy Processes
- Key Differences Between Chapter 11, Chapter 7 and Chapter 13 Cases
- New Subchapter 5 of Chapter 11
- Various Types of Creditor Claims and How to Assert Them
The Automatic Stay
- Understanding the Primary Effects of the Automatic Stay
- Who Does the Automatic Say Affect? Third Parties, Guarantors…?
- Seeking Relief From the Automatic Stay
Bankruptcy Discharge
- What Does a Bankruptcy Discharge Accomplish and Who Can Get a Discharge?
- Can a Creditor Collect/Execute After a Discharge?
- Exceptions to and Objecting to a Debtor’s Discharge
- Exemptions
Strategies Prior to and in Bankruptcy
- Credit Enhancements and Bankruptcy Remote Collection Tools
- Proofs of Claim
- Involuntary Bankruptcy as a Collection Tool
Preferential Transfer Considerations
- Collecting in the Face of an Expected Bankruptcy Filing
- Settlement Agreement Provisions to Help Protect Against Avoidance of Settlement Payments
- Preference Defenses
Speakers
Raymond P. Wendolowski Jr., Esq.,
Bernstein-Burkley, P.C.- Attorney with Bernstein-Burkley, P.C.
- Practice emphasizes all aspects of creditors’ rights
- Conducts regular seminars and workshops on numerous creditors’ rights and collections, including seminars focused on the Fair Debt Collection Practices Act and negotiation tactics for collection professionals
- Member of the CLLA
- J.D. degree, University of Pittsburgh School of Law
- Can be contacted at 412-456-8119 or rwendolowski@bernsteinlaw.com
Kirk B. Burkley, Esq.,
Bernstein-Burkley, P.C.- Co-managing partner of Bernstein-Burkley, P.C.
- Practice emphasizes all aspects of bankruptcy and restructuring, creditors’ rights, business and corporate transactions, litigation, real estate, and oil and gas
- Conducts regular seminars, live webinars and workshops on bankruptcy, creditors’ rights, and oil and gas
- Author of several publications related to the bankruptcy field, with work appearing in ABI Journal, Equipment Leasing Newsletter, Pennsylvania Association of Credit Managers' newsletter The Creditor, and more
- President of the American Board of Certification, 2020; past president of Turnaround Management Association; member of Allegheny County Bar Association, American Bankruptcy Institute
- J.D. degree, University of Pittsburgh School of Law; B.S. degree, Ohio University
- Can be contacted at 412-456-8108 or kburkley@bernsteinlaw.com
Who Should Attend
This live webinar is designed for attorneys, credit and collection managers, presidents, vice presidents, business owners and managers, lending professionals, bankers, and accountants.
