Every banker should have a fundamental understanding of the U.S. Bankruptcy Code and your bank’s rights and obligations thereunder. This webinar will introduce you to the world of bankruptcy. It is designed for lenders and support staff with the goal of educating them on the fundamentals of both consumer and commercial bankruptcy law. Practical information for daily use will be provided.
Covered Topics
- Talk the talk: Bankruptcy terminology
- The basics of the Bankruptcy Court system and the role of the U.S. Trustee’s office
- An overview of the various chapters of the Bankruptcy Code (7, 9, 11, 12 and 13)
- Setoffs and foreclosure sales: The automatic stay and what the bank can and cannot do after it goes into effect
- Filing a proof of claim
- Secured vs. Unsecured vs. Undersecured Claims
- Exempt property
- What debts of an individual can and cannot be discharged
- The order or “priority” in which claims are paid in bankruptcy
- The rules on Reaffirmation Agreements
- Pursuing guarantors when a borrower files bankruptcy
- Rejection of leases and executory contracts: how they can affect the bank’s collateral values
- Bankruptcy timetable and special rules for single asset real estate cases
- Special protections afforded members of the armed forces under the Servicemembers Civil Relief Act
- Preferences, fraudulent transfers and unauthorized post-petition transfers
Who should attend?
This program is designed for all lenders and their support staff.