Failure to understand the nature of business entities and the assets behind those entities may result in some hard lessons once an account is delinquent.
All too often, the difficulties faced by businesses in collecting commercial debts result from insufficient planning before credit is extended. Creditors who fail to understand the nature of the business entities to which they are selling goods and services and the persons and assets behind those entities may be in for some hard lessons once an account becomes delinquent. And it gets worse if the creditor fails to select legal counsel with particular experience in obtaining judgments and penetrating business entities determined not to pay. This presentation will assist business owners, financial officers, and credit managers with the development of credit applications and procedures; understanding the particular risks of extending credit to corporations, limited liability companies, and partnership entities and methods to minimize those risks; and implementing an effective collection strategy when an account becomes overdue. In addition to addressing the more traditional methods of enforcing money judgments, this topic will evaluate options unique to entity debtors, including receiverships, charging orders, and involuntary bankruptcy.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Assessing and Minimizing Credit Risk
- How to Develop a Useful Credit Application
- What to Learn About the Owners and Assets of an Entity Customer
- When to Require a Security Interest, Guaranty, or Letter of Credit
- How to Achieve Special Protection for Sellers of Inventory
Planning an Effective Collection Strategy
- Knowing When It Is Time to File Suit
- Identifying the Defendants
- Obtaining a Money Judgment vs. Enforcement of Property Rights
- Evaluating Piercing and Reverse-Piercing of the Corporate Veil
Enforcement of Judgments Against Business Entities
- Shock and Awe vs. Discovery in Aid of Execution
- Attachment of Bank Accounts and Other Property Rights
- Executing Against Stock, Partnership Shares, and LLC Memberships
- Bankruptcy Issues
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Credit
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on September 20, 2023.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 64 Minutes.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Robert W. Pontz
Brubaker Connaughton Goss & Lucarelli
- Founding member of the law firm of Brubaker Connaughton Goss & Lucarelli LLC, Lancaster, Pennsylvania
- Practice emphasizes commercial collection, representation of creditor interests in commercial litigation and bankruptcy proceedings, and business counseling
- Frequent local and regional speaker at programs covering advanced collection topics and commercial bankruptcy
- Admitted in the Commonwealth of Pennsylvania and federal courts for the Eastern and Middle Districts of Pennsylvania
- Active member of the American Bankruptcy Institute and Eastern and Middle District of Pennsylvania Bankruptcy Conferences
- Named a ‘Select Lawyer’ in bankruptcy and creditors’ rights by Susquehanna Style magazine
- J.D. degree, cum laude, Washington and Lee School of Law; B.A. degree, with honors, majoring in history, College of William and Mary
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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