Customary Business Practices for Turning a Debt over to a Collection Agency
4 March 2021
When you offer credit to a customer, the last thing you want is to eventually turn that customer over to a collection agency. Unfortunately, collections are an inevitable part of [...]
Archived: Collections | Education
Risk Management in 2021: How the World’s Volatility is Changing the Landscape
23 February 2021
As we move into 2021, it’s safe to say that no one has a good handle on where the world’s economy is headed. Sure, there are plenty of opinions, [...]
Archived: Collections
A “Black Swan Event”: New York Federal Court Rules that Lenders are Entitled to Keep $500 Million Mistakenly Paid by Citibank
22 February 2021
Written by David Conaway, Attorney at Law, Shumaker, dconaway@shumaker.com We are closely following Revlon on behalf of several creditor interests. In the context of a series of complex [...]
Archived: News
What Information Should You Gather on Delinquent Accounts Before Collecting?
15 February 2021
Collecting on delinquent accounts is a challenge. For home furnishings suppliers, it’s important to build and maintain positive relationships with retail partners – and collecting on an account is only [...]
Archived: Collections
Top 5 Ways NOT to Make Dumb Furniture Credit Decisions
28 January 2021
As a furniture manufacturer, offering furniture credit to your customers is a necessity. Retailers who want to sell your products are not always going to have the cash on hand [...]
Archived: Education
Bankruptcy Code Temporarily Tilts in Favor of Supplier and Landlord Preference Defendants
8 January 2021
Bankruptcy Code Temporarily Tilts in Favor of Supplier and Landlord Preference Defendants Written by Ronald D.P. Bruckmann of Shumaker, Associate. rbruckmann@shumaker.com For a limited time only, the “ [...]
Archived: Bankruptcy
Chapter 11 Filings Surge: Winning Solutions for Suppliers in a Zero-Sum Game
7 January 2021
Chapter 11 Filings Surge: Winning Solutions for Suppliers in a Zero-Sum Game -Written by David Conaway, Attorney at Law, Shumaker, dconaway@shumaker.com According to the American Bankruptcy Institute, 3,600 companies filed [...]
Archived: Bankruptcy
Traditional Collection Agency Vs. Member-Owned Collections Services
6 January 2021
Traditional Collection Agency Vs. Member-Owned Collections What do Neimen Marcus, Stein Mart, and JCPenny all have in common? They each filed Chapter 11 bankruptcy this year (Neiman, luckily, emerged from it). [...]
Archived: Collections
Consignment the Wrong Way: Recovery Still Possible
15 October 2018
Trade creditors enter into consignment arrangements with their financially distressed customers to increase the likelihood of payment of their claims.
Archived: Bankruptcy
Supply Chain Preference Releases in Chapter 11 Retail Cases
7 September 2018
In managing credit risk with an insolvent customer, the seasoned credit team also appreciates not just the A/R risk, but the preference risk should the customer [...]
Archived: Collections