Essentials in Bankruptcy Certificate Program

​My Customer Filed for Bankruptcy – Now What? 

The bankruptcy space can be confusing if you are a credit manager and downright daunting if your new to the credit and accounts receivable space. This Bankruptcy program demystifies the institutional legal landscape. This course program delivers everything from terminology through and including in a Creditors’ Committee. Upon completing the four segments you will be able to:

• Understand and articulate the concepts and terminology of corporate bankruptcy from a creditor point of view
• Communicate the nuances and impact of the various chapters of bankruptcy
• Drive your internal process in response to a bankruptcy filing
• Participate on Creditors’ Committee with confidence
• Conclude post-confirmation activities

Upon completion of the program, students will qualify for 0.5 CEUs and receive an electronic certificate of completion issued by the Credit Research Foundation.

Program Outline

This program is divided into five sections:

Part I – Basics – Concepts and Terminology

Have you ever wondered what it all means, bankruptcy legal jargon that is… the terminology, Chapter 11, 7, 5? This introductory session describes the meanings behind the most popular terms that are presented to the business community. This session delivers:

• Concepts describing what happens in a business bankruptcy
• Definitions of the different types business bankruptcy
• Terminology used by courts, attorneys, and creditor committees

This segment can also be taken as a standalone course for $30 – CLICK HERE to register.

Part II – The Fundamentals

This session compares and contrasts the various forms of bankruptcy including Chapter 7, Chapter 11, and Chapter 15 of the bankruptcy code. In addition to the various forms of bankruptcy, the roles and responsibilities of the parties, critical timelines, and potential outcomes. In this session you will learn:

• What the forms of business-to-business bankruptcy are
• The basics of who, what, where and when if a customer files for bankruptcy
• Your responsibility when a customer files for bankruptcy… e.g. “Automatic Stay”

This segment can also be taken as a standalone course for $30 – CLICK HERE to register.

Part III – Action Steps

This session outlines the immediate and longer-term steps that a company needs to take in order to maximize their opportunity for a favorable outcome. Think you know it all?… Listen in to this session for tips and tricks that all credit professionals should follow. This session will highlight :

• The checklist that should be followed when a customer files
• The risks of dealing with a bankrupt customer/entity
• The debtors reach back (Preferences) when there is a filing

This segment can also be taken as a standalone course for $30 – CLICK HERE to register.

Part IV – Creditor Committees

A Creditors’ Committee represents the interest of, and acts as a fiduciary for, the entire class of unsecured creditors with the intent to maximize recoveries. The pros and cons of participating on a committee

• The key issues and actions a participant needs to be aware of
• The full scope of responsibilities for participating in a creditors’ committee

This segment can also be taken as a standalone course for $30 – CLICK HERE to register.

Part V – Executory Contracts, Sales, Plans, and Post-Confirmation Activities

Now that a customer has filed for bankruptcy, the Creditor’s Committee has convened and a Plan of Reorganization has been presented, what’s next? The last section focuses on the process of bringing closure to the process. Section V brings to the forefront:

• The resolution of Executory Contracts, Sale of Assets and the related timeline.
• The “Plan” process and the classification and treatment of claims of a Chapter 11 debtor
• The importance and impact to creditors of the SBRA (Small Business Recovery Act)
• The action required when presented with Preference Actions, Reclamation, and the Effective Date when a plan is approved

This segment can also be taken as a standalone course for $30 – CLICK HERE to register.

This certificate program consists of 5 hours of on-demand content, delivered by CRF’s supportive legal community, and can be accessed at a pace appropriate for each participant. There is a short assessment at the end of each section to ensure an understanding of the material.