Surgent's Bankruptcy Basics: Understanding the Reorganization and Liquidation Process in These Uncertain Economic Times

Consumers and businesses file for bankruptcy to seek protection from creditors and to reorganize or liquidate debts. Bankruptcy filings rise and fall with the economy. Surveys show that loss of income is the leading cause of consumer bankruptcies, followed by medical expenses and foreclosure. Corporate bankruptcies, on the other hand, are often the result of several factors, including excessive debt, decreased demand, increased costs, lawsuits or poor accounting practices. It is no secret bankruptcy filings will see a tremendous uptick in the wake of the Covid-19 pandemic. As an accountant, CFP, attorney or other professional, you need to be able to discuss the process and different available courses of action with your clients. Both landlords and tenants will be influenced tremendously. Individuals will look to your advice for a discharge and new start. Businesses will do the same and will also need to advise loyal employees. Creditors will receive proofs of claim and look to you for your expertise. Take this webinar and make sure you can speak fluently to both creditors and debtors. As trusted advisors, then, professionals should have a basic understanding of the bankruptcy process. This course provides a thorough review of the consumer and corporate bankruptcy practice. Participants in this webinar will gain an understanding of how consumer and corporate bankruptcy proceedings begin and end, as well as learn about key issues that affect debtor and creditor rights during bankruptcy. This webinar provides information from the perspective of both debtor and creditor. Although bankruptcy concerns the debts of the debtor, the Bankruptcy Code provides substantial protections to creditors. Creditor rights, however, vary widely depending on the status afforded the creditor under the Bankruptcy Code. Do yourself, your clients and your profit margin a favor and sign up for this invaluable webinar.

Presented by Jason Cornell, Esq.

Qualifies for CFP Credit

Professionals seeking to understand the basic components of bankruptcy proceedings

• Understand the different types of bankruptcy proceedings
• Advise clients regarding the proof of claim process
• Be well versed in the eligibility requirements for consumer bankruptcies
• Understand the role of the automatic stay injunction

• Commencement of a bankruptcy proceeding
• Protections provided to debtors under the Bankruptcy Code
• Key procedural aspects of bankruptcy
• The automatic stay
• Differences between Chapters 7, 11, and 13 bankruptcy cases
• The bankruptcy discharge
• Proofs of claim
• Plans of reorganization
• Litigation that can arise during bankruptcy
• Creditor committees
• Bankruptcy trustees
• Avoidable preferences and fraudulent transfers
• Special rights afforded to landlords and secured creditors

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