New York, NY, November 10, 2015 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Edward Phillips, Partner, EisnerAmper LLP, will speak at the Knowledge Congress’ webcast entitled “Instability and Bankruptcy of a Counterparty Company: Exposing the Risks in 2016 LIVE Webcast.” This event is scheduled for December 8, 2015 @ 10:00 am – 12:00 pm (ET).
For further details, please visit: https://theknowledgegroup.org/event-homepage/?event_id=1241
About Edward Phillips
Edward Phillips is a Partner in the firm’s Bankruptcy and Restructuring Group. He has nearly 30 years of finding solutions to problems in bankruptcy, restructuring, liquidation, accounting and forensic accounting matters. Ed has represented a variety of parties and functioned in a number of roles in bankruptcy proceedings, out-of-court restructurings, forensic accounting engagements and post-confirmation engagements.
Ed has worked with numerous debtors, creditors’ committees and secured lenders. He has been retained as a Chief Restructuring Officer. Additionally, he has acted as a disbursing agent, plan administrator and liquidating trustee for post-confirmation committees. He has been an elected Chapter 7 Trustee. He has been appointed as a receiver in the Delaware Chancery Court, a Permanent Receiver in the United States District Court for the Middle District of Pennsylvania, and a Liquidating Trustee in the United States District Court for the Eastern District of Pennsylvania. He has provided acquisition due diligence services to buyers of distressed assets. He routinely consults with and advises clients involved in avoidance actions such as preferences and fraudulent transfers. He has served as an expert in evaluating avoidance actions and other financial matters in dispute.
About EisnerAmper LLP
EisnerAmper LLP is a leading full-service accounting, tax and advisory firm, and among the largest in the United States. We provide audit, accounting, and tax services, as well as corporate finance, internal audit and risk management, bankruptcy and restructuring, litigation consulting, forensic accounting, and other professional advisory services to a broad range of clients across many industries. We work with closely held businesses, public companies, high net worth individuals, and Fortune 500 companies. With offices in New York, New Jersey, Pennsylvania, California and the Cayman Islands, and as an independent member of PKF International, EisnerAmper serves clients worldwide.
Global economic turmoil and an environment of increasing interest rates in the U.S. could increase the likelihood of bankruptcy filings. Insolvency can have profound effects for both debtors and counter-parties doing business with the company. Recovering funds from a debtor under bankruptcy protection is difficult for creditors who have been unable to collect monies owed. However, prior to a bankruptcy, when a company is in distress, creditors can adopt certain strategies to minimize the negative impact of a bankruptcy filing. Generally, upon the filing of a bankruptcy petition by a debtor, an automatic stay arises on property of the estate. In certain instances - forward contracts, master netting agreements, and swap agreements - the Bankruptcy Code allows parties to terminate and liquidate rights and to foreclose on collateral, but prompt evaluation of qualification is critical. While it can be difficult for creditors to recover funds in bankruptcy, there are still ways they can minimize the impact and maximize recoveries. An understanding of the Bankruptcy Code is critical.
It is in the best interest of counter-parties to understand the risks faced by companies with declining credit worthiness prior to their filing for bankruptcy. In these challenging times, all companies should assess and try to mitigate counter-party risks. It is prudent for every business to know the financial status of its counter-parties, customers, suppliers, and vendors. It is also essential to analyze and amend business terms, consider termination or review renewal of expiring contracts, analyze aging accounts receivable, reduce preference exposure, determine and improve available rights and remedies, and understand and protect their rights under bankruptcy.
In this two-hour, Live Webcast, a panel of distinguished professionals and thought leaders assembled by The Knowledge Group will help creditors understand the important aspects of this significant topic. Speakers will review and discuss Instability and Bankruptcy of a Counter-party Company: Exposing the Risks in 2016. The panel of speakers also will offer best practices in developing and implementing an effective program to mitigate credit risks, reduce counter-party bankruptcy exposure, and to recover funds.
Key topics include:
· Key provisions of the Bankruptcy Code
· Creditors’ Rights
· Types of Claims
· Recovery Options
· Involuntary Bankruptcy Petitions – Pros, Cons and Risks
· Safe Harbor Provisions
· The Automatic Stay
· Executory Contracts
· Preferential and Fraudulent Transfers
· Development and Implementation of Effective CMS
· Compliance and Litigation Risks
· Best Practices
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register to an event, please visit: www.knowledgecongress.org.