Identifying and Defending Against Bankruptcy Related Transfers (Currently Unavailable)
Registration closed on March 4, 2025 at 12:00am Pacific Time
This seminar is designed to help public accountants understand how certain transactions made by their clients before filing for bankruptcy may be reversed or challenged. These transactions, known as fraudulent conveyances and preferences, can lead to unexpected financial liability. The session will equip accountants with the knowledge and tools to advise clients and minimize risks associated with these claims.
Who Should Attend
This session is ideal for public accountants and financial advisors working with clients who may have customers who filed bankruptcy and have received trustee demand letters. The focus is on practical solutions that protect clients and help them navigate complex bankruptcy issues. By the end of the seminar, you will have a clear understanding of how to help clients respond to trustee demands, avoid common pitfalls, and reduce financial losses in bankruptcy cases.
Topics Covered
- Understanding Fraudulent Conveyances and Preferences Legal Claims:
We’ll break down the key concepts of these transactions, explaining what makes a transfer potentially reversible under the Bankruptcy Code and the specific time periods applicable to each legal claim.
- How These Claims Unfold:
Learn how a bankruptcy trustee can pursue your client for repayment, often starting with a demand letter. If not addressed, this could escalate to a lawsuit against your client within the bankruptcy court.
- The Legal Framework:
Discover the elements the trustee must prove to successfully claim fraudulent conveyances or preferences, and understand how these cases are typically handled.
- Defending Against Trustee Claims:
Learn about common defenses that can help protect clients and prevent loss. Early intervention is crucial to success, and you’ll leave with practical steps to take when a bankruptcy trustee demand letter is received.
- Relevance to Accountants:
This session will demonstrate how timely advice and proactive measures can protect your clients from potential liabilities and help safeguard their assets. This knowledge is crucial in minimizing financial exposure in bankruptcy situations for your clients.
Learning Objectives
- Become familiar with Bankruptcy Trustee recovery actions against creditors
- Understand the differences between Bankruptcy Preferences and Fraudulent Conveyances
- Provide clients with strategies to address potential defenses to Bankruptcy Trustee recovery actions
Level
Update
Instructional Method
Group: Internet-based
NASBA Field of Study
Specialized Knowledge and Applications (2 hours)
Program Prerequisites
Basic Understanding of Bankruptcy-Related Transfers
Advance Preparation
None
