Commercial Bankruptcy Credit Specialist

This Specialty Certificate will provide a broad overview of bankruptcy to familiarize the student with the different chapters of bankruptcy and the parties involved.  It will discuss the major bankruptcy chapters in depth and describe how a creditor can deal with and work through the different chapters of bankruptcy.  The student will also learn what rights he or she has as a creditor.  The credit professional may recognize the term reclamation from state law concepts.  Although reclamation is not specifically a bankruptcy concept it is implemented in bankruptcy. This Specialty Certificate will also provide “how-to” basics on dealing with preference claims, and customers filing bankruptcy.

Module Levels are indicated as follows:

= Basic          

 = Intermediate         

  = Advanced          

 = Update

Anatomy of a Preference

What is worse than your customer filing for bankruptcy?  Having to give back the payments you collected in the three months before they filed.   The theory behind the preference sections of the bankruptcy code are sound - equal distribution to all.  In practice that is not how they are enforced.  Defending against the pursuit and recovery of alleged preferential payments could cost creditors more than their initial claim for the outstanding receivables when a customer initially seeks bankruptcy protection.

This module will present the steps the credit professional can take to build a strong defense against preference claims and minimize the cost of legal fees.  Practicing good Credit Department Hygiene and knowing your customers and their payment patterns and how they align with the allowable defenses of a preference, can better the creditor's position for a strong defense.

After successful completion of this module the student will understand the keys to a good defense against a preference claim, steps to take when a customer files bankruptcy, the elements of a preference, the Demand Letter, Statute of Limitations regarding preference claims, Contemporaneous Exchange, Ordinary Course of Business, and Subsequent New Value.

Speaker Bio:

Val Venable, CCE has been the America’s Credit Manager for SABIC Innovative Plastics, formerly GE Plastics, since 2000 with responsibilities for credit, collections and risk management in five countries. She manages a portfolio consisting of over 50,000 accounts with customers in just about every industry including automotive, consumer products, chemicals, net media and the industrial and construction arenas.  With over 25 years experience as a credit manager, Ms Venable has worked in the Aerospace, Steel and Metals and Marine industries, both domestic and international.  She has lead education sessions at the NACM Credit Congress and the Metals and Steel, and the Food Services Industry Day Groups and has addressed various CFDD Affiliates. 

Bankruptcy - Setting the Stage

This learning module will provide a broad overview of bankruptcy to familiarize the student with the different chapters of bankruptcy and the parties involved Topics covered include the Chapters of Bankruptcy, the Players and What They Want, Special Unsecured Creditor Issues, Starting a Case, Exemptions, Avoidance Actions and Executory Contracts. After successful completion of this learning module the student should understand what the bankruptcy chapters are, what people are involved in a bankruptcy and what their roles are, issues regarding post petition credit, when and how to file proof of claim, the difference between voluntary and involuntary bankruptcy, rules regarding the automatic stay and what exemptions are and how they function.

Speaker Bio:

Robert S. Bernstein is managing partner of Bernstein Law Firm, P.C. , He serves as counsel to commercial landlords, equipment lessors, bankruptcy trustees, creditors' committees, creditors, and reorganizing businesses in proceedings throughout Pennsylvania and the Middle Atlantic States, concentrating in the many facets of bankruptcy and commercial law. , Mr. Bernstein writes and lectures for local and national groups on matters of collection, bankruptcy, business law, and professional ethics and, for more than ten years, has been certified as both a creditors' rights and business bankruptcy specialist by the American Board of Certification. , Mr. Bernstein earned a BA from the University of Pittsburgh in 1976 and a J.D. from Duquesne University in 1981.

Bankruptcy – Exercising Your Rights as a Creditor

In this learning module the credit professional will learn what rights he or she has as a creditor. The credit professional may recognize the term reclamation from state law concepts. Although reclamation is not specifically a bankruptcy concept it is implemented in bankruptcy. This module will present the topics of Reclamation, Administrative Claims and Dealings with Bankruptcy. After successful completion of this learning module the student should understand reclamation and how to exercise reclamation rights, the 20-day administrative claim (or 503(b)(9)) and how and when to file one, what a creditor should do when learning about a debtor’s bankruptcy, how to know when to file proof of claim, when a creditor is bound by an automatic stay, what a preference is and is not and why a creditor might force a debtor into bankruptcy.

Speaker Bio:

Robert S. Bernstein is managing partner of Bernstein Law Firm, P.C. , He serves as counsel to commercial landlords, equipment lessors, bankruptcy trustees, creditors' committees, creditors, and reorganizing businesses in proceedings throughout Pennsylvania and the Middle Atlantic States, concentrating in the many facets of bankruptcy and commercial law. , Mr. Bernstein writes and lectures for local and national groups on matters of collection, bankruptcy, business law, and professional ethics and, for more than ten years, has been certified as both a creditors' rights and business bankruptcy specialist by the American Board of Certification. , Mr. Bernstein earned a BA from the University of Pittsburgh in 1976 and a J.D. from Duquesne University in 1981.

Bankruptcy – Navigating the Chapters

This learning module discusses the major bankruptcy chapters in depth and describes how a creditor can deal with and work through the different chapters of bankruptcy. Topics include Chapter 7 – Liquidation, Chapter 13 – Wage Earners, Chapter 12 – Family Farmers, Chapter 9 – Municipal Reorganization, Chapter 15 – Ancillary and Cross Boarder, Chapter 11 – Reorganization, and Post Confirmation Problems. After successful completion of this learning module the student should understand what each bankruptcy chapter is designed to address and how it functions, who is involved in a bankruptcy case, and what their roles are, the function of the means test, the role of the creditors committee, the order of distribution of assets in a Chapter 11 and the absolute priority rule.

Speaker Bio:

Robert S. Bernstein is managing partner of Bernstein Law Firm, P.C. , He serves as counsel to commercial landlords, equipment lessors, bankruptcy trustees, creditors' committees, creditors, and reorganizing businesses in proceedings throughout Pennsylvania and the Middle Atlantic States, concentrating in the many facets of bankruptcy and commercial law. , Mr. Bernstein writes and lectures for local and national groups on matters of collection, bankruptcy, business law, and professional ethics and, for more than ten years, has been certified as both a creditors' rights and business bankruptcy specialist by the American Board of Certification. , Mr. Bernstein earned a BA from the University of Pittsburgh in 1976 and a J.D. from Duquesne University in 1981.

I Have My First Preference Claim - What Should I Do Now?

This presentation will outline what you should do if you find that you have a preference claim. , The presenter will cover the definition of a preference, why they exist and what are the defenses, Preferential Transfers, including their policy and purpose, the Process of Recovery of Preferential Transfers and what can be recovered, how the creditor can defeat preference claims, Statutory Elements, Ordinary Course of Business, and Subsequent Value. , After successful completion of this module the student will understand what a preference is, why they exist and the defenses for them, four things not to do if you get a preference claim, the best things to do if you get a preference claim, the Process for Recovery of Preferential Transfers and what can be recovered, what the Affirmative Defenses are against preference claims, what an Ordinary Course of Business must show, and the best practices regarding preference actions.

Speaker Bio:

Lynnette Warman is a bankruptcy attorney, and a partner with the firm Hunton &, Williams, LLP in Dallas, Texas. , Ms. Warman earned her BA from the University of Nebraska, and her JD from Creighton University School of Law, magna cum laude, in 1986. , Her practice focuses on corporate reorganizations, out of court work-outs and structured financial transactions. Recent engagements have involved significant mediation, litigation and appellate work in both bankruptcy and other federal courts. Ms. Warman also devotes considerable time analyzing transactions to address potential insolvency issues such as lender liability, avoidance, and fraudulent transfers. Ms. Warman was formerly the head of the Business Department at Jenkens &, Gilchrist, P.C., and the former Practice Group Leader of that firm's Bankruptcy Section. 

My Customer Filed Bankruptcy - What Should I Do Now?

This presentation will show you what to do when you think a customer has filed bankruptcy; how to check on the filing and how to react to the different types of bankruptcy that can be filed.  Learn the new laws that apply in bankruptcy and how the courts are ruling on matters like reclamation, new administrative claims and creditors' committee issues so you can act quickly and decisively the next time a customer says those dreaded words.  After successful completion of this learning module the student will understand how to confirm that there has been a filing, how to find the case, how to determine the type of case, how the filing will affect their company, the basic steps to take when faced with a customer filing bankruptcy, how to determine if their company has critical vendor status, reclamation claims, administrative claims, and creditor’s committees.

Speaker Bio:

Lynnette Warman is a bankruptcy attorney, and a partner with the firm Hunton & Williams, LLP in Dallas , Texas .  Ms. Warman earned her BA from the University of Nebraska , and her JD from Creighton University School of Law, magna cum laude, in 1986.  Her practice focuses on corporate reorganizations, out of court work-outs and structured financial transactions. Recent engagements have involved significant mediation, litigation and appellate work in both bankruptcy and other federal courts. Ms. Warman also devotes considerable time analyzing transactions to address potential insolvency issues such as lender liability, avoidance, and fraudulent transfers. Ms. Warman was formerly the head of the Business Department at Jenkens & Gilchrist, P.C., and the former Practice Group Leader of that firm's Bankruptcy Section.