Learn the risks associated with providing credit to a Chapter 11 client as well as what actions can be taken in the case of nonpayment.
When a customer files a Chapter 11 bankruptcy, a host of questions arise for the vendor. What happens to the sum owed to the company prior to bankruptcy? Does the company have to continue to provide services/goods to the Chapter 11 debtor in possession? If the company does continue to provide goods/services, is it in a better position, or is it just deepening a bad debt? Is the company going to be pursued by the debtor, a committee, or a trustee? In this presentation, Robert Westermann and Brittany Falabella of Hirschler in Richmond, Virginia, will walk through the considerations and implications of the decisions a vendor will have to make when faced with a customer that files for bankruptcy relief under Chapter 11.
Agenda
Faculty
Robert (Robbie) S. Westermann
Hirschler Fleischer
Robert S. Westermann
- Regularly represents Chapter 11 debtors, trustees, liquidating trustees, vendors, landlords, secured creditors, and plan administrators in multiple industries, including healthcare, retail, real estate, construction, and manufacturing
- Represents a Fortune 500 national medical supplier in bankruptcy matters throughout the country
- Represented creditors’ committees in several large retail Chapter 11 cases in the Eastern District of Virginia, including Ann Taylor/Ascena Retail Group, Inc., J. Crew/Chino’s Holdings, Inc., and Paper Source, Inc
- Named ‘Lawyer of the Year’ for Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, Richmond by Best Lawyers in America; ‘Super Lawyer’ in Bankruptcy by Thomson Reuters; and a ‘Leader in the Field’ for Bankruptcy/Restructuring, Virginia by Chambers USA
Brittany B. Falabella
Hirschler Fleischer
- Regularly represents Chapter 11 debtors, trustees, liquidating trustees, vendors, landlords, secured creditors, and plan administrators in multiple industries, including healthcare, retail, real estate, construction, and manufacturing
- Represents a Fortune 500 national medical supplier in bankruptcy matters throughout the country
- Represented creditors’ committees in several large retail Chapter 11 cases in the Eastern District of Virginia, including Ann Taylor/Ascena Retail Group, Inc., J. Crew/Chino’s Holdings, Inc., and Paper Source, Inc
- Named ‘Best Lawyers: Ones to Watch’ in Richmond for Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization
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