Understand the recent changes to the Bankruptcy Code that impact preference actions.
Gain an understanding of the best bankruptcy preference that correlates with specific client needs and learn about the changes to due diligence requirements for preference actions mandated by Subchapter V of the Bankruptcy Code. Preference law is controversial because it is designed to punish creditors which are paid in advance of a bankruptcy filing by that creditor's debtor. This topic will explain strategies for creditors to proactively avoid a preference challenge, outline defenses, many of which are oftentimes overlooked, and educate debtors as to when preference recoveries can work to their benefit.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
The Broad Concept of the Term Transfer Under § 101 of the Bankruptcy Code
- Elements of a Transfer in a Preference Analysis
- Controlling Law in a Preference Analysis
- Changes Under Subchapter V
Elements of Preferential Transfers Under 11 U.S.C. § 547
- Who Is a Creditor for Purposes of a Preference?
- What Is a Claim for Purposes of a Preference?
- What Is an Antecedent Debt for Purposes of a Preference?
- Determination of Insolvency for Purposes of a Preference
- When Does a Transfer Occur for Purposes of a Preference?
- Who Is an Insider for Purposes of a Preference?
- What Transfers Do and Don't Enable a Creditor to Receive More Under a Chapter 7 Liquidation?
Defenses to Preference Actions
- Contemporaneous Exchange for New Value
- Ordinary Course Transfers
- Safe Harbor Provisions for Secured Claims
- New Value Defense
- Floating Liens
- Statutory Liens
- Domestic Support Payments
- Transfers Below Certain Minimum Levels
- Payments Made Pursuant to Alternative Repayment Programs
Practice and Procedure in Preference Litigation
- Statute of Limitations
- Standing to Pursue Preference Claims
- Burden of Proof
- Adversary Proceedings to Recover Preferences
- Subchapter V and Reasonable Due Diligence
Recovery of Preferential Transfers Under § 550
New Developments
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 17, 2021.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.5
- Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.5
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
- AR CLE 1.5
- This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.5
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.5
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- HI CLE 1.25
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.25 CLE credit hours.
- IL CLE 1.25
- This course was approved for a total of 1.25 hours of MCLE Credit by the Illinois MCLE Board.
- ND CLE 1.5
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.5 hours of CLE credit.
- NH MCLE 1.5
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 88 Minutes.
- NY CLE 1.5 including Skills 1.5
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Skills for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for credit for established attorneys only. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.5
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
- VT CLE 1.5
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WV MCLE 1.8
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Randy Nussbaum
Sacks Tierney P.A.
- Shareholder with Sacks Tierney P.A.
- More than 40 years of experience with complex restructuring, bankruptcy protection (debtor and creditor), transaction and litigation matters
- Certified Bankruptcy Specialist (Arizona Board of Legal Specialization) and a Certified Business Bankruptcy Specialist (American Board of Certification)
- Received the Best Lawyers® 2019 Bankruptcy “Lawyer of the Year” and 2021 Bankruptcy Litigation “Lawyer of the Year” (Scottsdale)
- Super Lawyers “Top 50 Arizona” list of attorneys multiple times
- Frequent speaker and has written numerous publications
- J.D. degree, Arizona State University; B.A. degree, cum laude, Arizona State University
- Can be contacted at 480-212-1682 or [email protected]
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
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