Business Online Course by Udemy, On Sale Here
This course explores the extent of a trustees ability to avoid (Clawback) a bankruptcy petitioners past transactions.
An excellent training about Business Law
Bankruptcy Tactics to Avoid Clawback
Chapter 11 Bankruptcy can be a valuable tool for businesses that need to restructure their operations or create new debt repayment schedules. However, the life of a business owner can take on new complications after he or she files the initial petition for bankruptcy. While Chapter 11 is typically used to address debts that existed prior to filing, the bankruptcy trustee can investigate certain transactions that were made within a certain timeframe of the filing. If the bankruptcy trustee determines that a transaction within a certain timeframe was made for an improper purpose, then the trustee can use the powers vested in them by the bankruptcy court to retroactively cancel, or avoid, that transaction. This will require the bankruptcy trustee to file motions with the bankruptcy court that bring in third parties to the bankruptcy proceedings, and these third parties will typically hire attorneys to avoid returning the money that was transferred to them. In other words, this power to cancel transactions can cause significant delays and complications in a bankruptcy proceeding. In this course, we explore the extent of a trustees ability to avoidoften affectionately referred to as clawbacka bankruptcy petitioners past transactions. This involves an analysis of the timeframes involved, the parties involved, and the amounts of money involved. Finally, we conclude by providing an overview of possible defenses a bankruptcy petitioner can use to prevent the trustee from implementing his or her clawback powers.
Udemy is the leading global marketplace for learning and instruction
By connecting students all over the world to the best instructors, Udemy is helping individuals reach their goals and pursue their dreams.
Study anytime, anywhere.
Reviews
There are no reviews yet.