Bruce S. Nathan and Eric Chafetz, partners in Lowenstein's Bankruptcy, Financial Reorganization & Creditors' Rights practice, conduct a webinar hosted by the National Association of Credit Management (NACM).
Many industries have been reeling from the disruption created by the COVID-19 pandemic. Chapter 11 filings have significantly increased since the onset of the pandemic, and the resulting lockdowns and Chapter 11 filings are expected to surge through 2021 and beyond. This program provides trade creditors the opportunity to identify distressed customers prior to their bankruptcy filings and take action to mitigate their risk of loss. The warning signs of a troubled customer and sources of information for identifying warning signs will be discussed. The speakers will then focus on the risk mitigation tools that should be part of a trade creditor’s arsenal, including negotiating and properly documenting consignment and purchase money security interest protection, letters of credit, and guarantees; enforcing setoff rights; obtaining credit insurance or an accounts receivable put; enforcing Uniform Commercial Code remedies (e.g., stoppage of delivery and adequate assurance rights); and the steps that can be taken prior to any bankruptcy to reduce preference risk.
Time: 5:30 p.m. ET