Leveraging Bankruptcy Preference Defenses: Trade Creditor Payments, Earmarking, Critical Vendors, Claim Waivers, Set-Offs
Recording of a 90-minute CLE webinar with Q&A
This CLE course will discuss commonly attacked transactions such as payments to trade creditors or insiders and loan workouts. The panel will analyze statutory defenses and other key defenses such as earmarking, critical vendor, mere conduit, assumed contract, claim waivers and set-offs.
Outline
- Statutory preference defenses
- New value
- Ordinary course of business
- Contemporaneous exchange
- Specific preference claims and other defenses
- Loan workouts
- Payments to corporate insiders
- Motions to dismiss
- Earmarking
- Mere conduit defense
- Involuntary bankruptcy issues
- 503(b)(9) impact on new value
- Assumed contract defense
- Critical vendor defense
- Claim waivers
- Set-off issues
Benefits
The panel will review these and other key issues:
- What are best practices for preventing a creditor from becoming a target of a preference action?
- What steps can be taken to minimize or eliminate preference exposure if a demand is received or an action is commenced?
- What are the specific preference claims and other defenses available in bankruptcy cases?
Faculty
Howard A. Cohen
Director, Financial Restructuring & Creditors’ Rights
Gibbons
Mr. Cohen represents various entities, such as debtor-in-possession lenders, asset purchasers, and secured and... | Read More
Mr. Cohen represents various entities, such as debtor-in-possession lenders, asset purchasers, and secured and unsecured creditors in corporate restructuring and bankruptcy matters. He has a vast array of experience in corporate restructurings and Chapter 11 cases throughout the region, predominantly in Delaware. He also represents public and private corporations, as well as hedge funds, in 363 acquisitions, out-of-court restructurings, Chapter 7 liquidations, and Chapter 11 proceedings.
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Michael W. Yurkewicz
Of Counsel
Klehr Harrison Harvey Branzburg
Mr. Yurkewicz represents corporations in a broad range of transactional and litigation matters that confront... | Read More
Mr. Yurkewicz represents corporations in a broad range of transactional and litigation matters that confront businesses in financial distress and non-distressed businesses in their dealings with distressed companies. He regularly represents debtors, secured and unsecured creditors, asset purchasers, trusts, and appointed committees in complex bankruptcy proceedings.
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