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  • PODCAST: How to Best Protect Yourself When a Customer Files Bankruptcy

    In this episode of our Procopio Perspectives podcast series, Partner Miku Mehta and Of Counsel William Smelko inform suppliers on defending against preference claw back claims in U.S Bankruptcy cases, where a customer may have filed for bankruptcy. Topics include: Payment Matters: Get paid, don’t get behind. Payment Receipt Matters: Cash checks promptly. Timing Matters: Organize and Calendar dates of orders, shipments, invoicing and payment dates. Promptness Ma...

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  • 3 Steps International Suppliers Should Take Now Before Their Key U.S. Customer Files for Bankruptcy

    By Procopio Of Counsel William "Bill" Smelko As U.S.-based companies file for bankruptcy at record rates, international suppliers of products to those companies are feeling the pinch. Payments for past due invoices often are not paid promptly unless the supplier is a “critical vendor” to the filing entity. The financial impact to suppliers, however, may go far beyond mere non-payment. Suppliers may actually find themselves facing lawsuits seeking the return of payments they’ve alrea...

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  • Business Assistance Funds under the Coronavirus Aid, Relief, and Economic Security Act

    By Partners Eli W. Mansour and Paul B. Johnson and Of Counsel William A. Smelko The U.S. Congress and the White House have come together to rescue the U.S. economy in the wake of the COVID-19 pandemic with a historic $2-trillion stimulus package known as the Coronavirus Aid, Relief, and Economic Security Act  (H.R. 748, or the CARES Act). Signed into law by President Donald Trump on March 27, 2020, the new law provides various avenues of relief for business battered by the current ep...

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  • 3 Proactive Steps Lenders Should Take In Light of a Recent Appellate Panel Ruling

    By Procopio Of Counsel William A. Smelko Experience teaches that not every loan recipient will repay the lender in a timely fashion. Lenders commonly make use of third-party collection agencies when a loan falls significantly into arrears. In light of a recent decision by the 9th Circuit Bankruptcy Appellate Panel, however, it is more critical than ever for lenders to be cognizant of the letter of the law when it comes to interacting with a debtor who has filed for bankruptcy or received ...

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