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 [...]
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, [...]
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 [...]
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 [...]
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 [...]
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 “ [...]
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 [...]
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). [...]
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.
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 [...]
