Aaron L. Hammer, Esq. speaks at First Annual Credit and Accounts Receivable Professional Retreat Day of the Federation of Credit and Financial Professionals
05/25/2016On May 25, 2016, Aaron L. Hammer presented at the First Annual Credit and Accounts Receivable Professional Retreat Day of the Federation of Credit and Financial Professionals. Credit professionals will be introduced to the various constituencies in a bankruptcy proceeding, including litigation trusts, and how the priority scheme and distressed situations motivate the filing of avoidance actions. The tension between the secured lender and trade creditors in the bankruptcy process will also be examined. Both preferences and fraudulent conveyances will be discussed at length, together with how a creditor can protect themselves both before and after a bankruptcy is filed. Preferences in both theory and practice will be explored as well as the key policy reasons and the elements of the statute that define the preference. Fraudulent transfers will also be discussed as these causes of action are often paired with a preference count and recently have been the primary litigation in a few noteworthy cases.