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Sponsored by Lorman Education
Product ID: 407437EAU
 
Credit & Course Provided by:

Collection Strategies: When Assets Are Held in Corporations and Limited Liability Companies

OnDemand Webinar (62 minutes)

Creditors who fail to understand the nature of business entities and the assets behind those entities may be in for some hard lessons once an account becomes delinquent.All too often, the difficulties faced by businesses in collecting commercial debts result from insufficient planning before credit is extended. And it gets worse if the creditor fails to select legal counsel with particular experience in obtaining judgments and penetrating business entities determined not to pay. This information will assist business owners, financial officers and credit managers with the development of credit applications and procedures, understanding the particular risks of extending credit to corporations, limited liability companies and partnership entities and methods to minimize those risks, and implementing an effective collection strategy when an account becomes overdue. In addition to addressing the more traditional methods of enforcing money judgments, this material will evaluate options unique to entity debtors, including receiverships, charging orders and involuntary bankruptcy.

Authors

Robert W. Pontz, Brubaker Connaughton Goss & Lucarelli

Agenda

Assessing and Minimizing Credit Risk

• How to Develop a Useful Credit Application

• What to Learn About the Owners and Assets of an Entity Customer

• When to Require a Security Interest, Guaranty or Letter of Credit

• How to Achieve Special Protection for Sellers of Inventory

Planning an Effective Collection Strategy

• Knowing When It Is Time to File Suit

• Identifying the Defendants

• Obtaining a Money Judgment vs. Enforcement of Property Rights

• Evaluating Piercing and Reverse-Piercing of the Corporate Veil

Enforcement of Judgments Against Business Entities

• Shock and Awe vs. Discovery in Aid of Execution

• Attachment of Bank Accounts and Other Property Rights

• Executing Against Stock, Partnership Shares and LLC Memberships

• Bankruptcy Issues