Episode 4 part 1: Bankruptcy Traps

NOTE: This podcast is not a substitute for professional consul. Consider reaching out directly to any person on this show if you have further questions before taking action on your own.**

Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex.

Email your questions for the experts to neil@elementarybusiness.com and to sravin@saul.com Their door is always open and they will respond.

Find more at corporatebankruptcyatoz.com

6:10 – Josh discusses the traps of a bankruptcy

7:28 – Preference claims, personal guarantees, avoidance actions

8:58 – Small to mid-sized capitalized companies

9:44 – Example of a preference claim

13:46 – Look back period for owners and insiders

15:09 – Fraudulent transfers

16:01 – Excess payments

18:16 – Critical vendor motion and how to handle difficult vendors

20:00 – When to file

20:42 – Look back periods for insiders, equity owners, and personal guarantees.

21:53 – Violations

22:44 – A case study – highlighting insiders violation

25:00 – What might be considered a violation

28:43 – Owners’ Personal Guarantees in a bankruptcy.

34:43 – DISCLOSURE. Bankruptcy crime.

36:31 – Clients that hold back information

39:43 – Do owners keep their ownership in the company?

41:28 – The zero value of the company upon bankruptcy

43:23 – Closing thoughts.

44:45 – Josh's favorite cases

45:48 – Steve shares his closing thoughts

49:02 – Overtime

Guest Info:
Josh Eppich specialized in helping businesses reach their goals and solve their challenges. He has significant experience representing debtors and creditors in Chapter 11 and 7 Bankruptcy cases across the USA.
Call him (817) 405-6905 or email him joshua@bondsellis.com

Host Info:

Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition. With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth.

Neil's book is now available on Amazon.com

Call 940-808-9451 or Email neil@elementarybusiness.com or visit ElementaryBusiness.com. Visit his Blog here

Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers.

Call 973-286-6714. Or email him sravin@saul.com You can also visit his firm's website.

Join a supportive team of diverse, highly-motivated professionals to leverage your skills and experience. Check out Strive Consulting

Next episode will be part 2 in our segment on bankruptcy traps. Our special guest will be Michelle Novick of Saul Ewing Arnstein & Lehr LLP. Listen in on the conversation as she answers questions like “Whos cash is it?” and “What are the different classes of creditors?”.

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