Bankruptcy

Second Chapter 11 Filings Pose New Risks for Trade Vendors

By Scott Blakeley, Esq. Is a company eligible to file a second Chapter 11? The answer, which may come as a nasty surprise to many AR and credit professionals, is yes. The most recent companies to

Bankruptcy Code Section 503(b)(9)

Trade Creditor Administrative Claim Opportunity "Whoa! We just delivered this month's shipment to Jones Manufacturing and today they filed for bankruptcy! Now what?" Unhappily this scenario is… Read More

Government Entity Bankruptcy Risk Necessitates 4 Best Practices

Large cities, including Detroit, Miami and—most recently—Providence, RI, have seriously contemplated filing for bankruptcy. Meanwhile, dozens of other U.S. municipalities have defaulted on bond

7 Steps to Avoid Having to Repay a Bankruptcy Preference

By Keith Cunningham, Esq., and Matthew Newman, Esq. There are few things in this world more irksome than being forced to repay a bankruptcy preference, particularly after having already suffered a

What You Need to Know to Work With Forensic Accountants in Bankruptcy Cases

At some point in their careers, credit professionals are likely to have dealings with a forensic accountant. Typically, a forensic accountant is brought in to untangle matters leading up to a

Aggressive Breed of Preference Claims Collectors Poses Challenge for Credit Pros

Many credit pros are experiencing more preference claims than in the past. A preference claim occurs when you, the creditor, receive a demand on behalf of a bankruptcy estate for repayment to that

Best Practices for Preparing a Proof of Claim

By Scott Cargill, Esq. In recent years, many organizations have delegated responsibility for filing proofs of claim in bankruptcy cases to either their collection departments or in-house legal staff.

Steps to Handle Customer Bankruptcy or Insolvency in Asia and Latin America

It’s every credit manager’s nightmare: a declaration of bankruptcy or insolvency by one of your company’s major customers. However, when the customer declaring bankruptcy is in another country,… Read More

Credit Pros Need New Tools For a New Era of Bankruptcy Risk

For credit managers, this challenges traditional models of identifying bankruptcy risk. This also occurs as more credit pros are being tasked to aid procurement and finance in detecting warning signs… Read More

Current Today, Bankrupt Tomorrow

By John Salek Have you been stung recently by a sudden bankruptcy filing of a customer that was not severely past due? If so, you are not alone. BankruptcyData.Com reported 9 bankruptcies of firms