Fending Off the Trustee

Thus there are numerous options available to you as in-house counsel if you are faced with a preference action. Knowing how to act, and how quickly, might make the difference between hanging onto the funds you received prior to your clients' bankruptcy, and having to hand them all over to the trustee to be redistributed among all the creditors.

8 minute read November 27, 2007 at 09:05 AM
By
Robert Lochhead
Fending Off the Trustee

It could be called a nightmare scenario within a nightmare scenario. A client or customer of your company has filed for bankruptcy protection. That's bad enough: a major source of future revenue may have just gone up in smoke.

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