“Preference Actions” Under the Bankruptcy Code: Best Practices to Limit Preference Liability

Your client’s customer has not been paying its invoices and has now filed for bankruptcy. Your client remains unpaid on a number of these invoices, making it a “creditor” in the bankruptcy case. To add insult to injury, the Chapter 7 trustee now seeks the immediate return of certain payments made by the customer/debtor, which were made to your client in the months or even years preceding the bankruptcy case. The claim by the trustee is referred to as a “preference” action. Fortunately, the Bankruptcy Code provides creditors (like your client) with certain defenses to defeat a preference action. This webinar provides an introduction to preference actions, as well as an overview of the defenses and “best practices” to limit exposure to preference liability.

1 hour of MCLE credit, no ethics.

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