Written By: David Conaway, Partner, Shumaker Attorneys at Law
The “Small Business Reorganization Act of 2019” (SBRA) signed into law on August 23, 2019 contains two amendments to Chapter 11 preference laws, which are NOT limited to small business reorganizations.
1 – Debtors’ Burden of Proof.
As creditors who have been on the wrong end of preference claims under Section 547 of the Bankruptcy Code know all too well, debtors’ burden to assert preference claims is minimal, a lay-up. The burden quickly shifts to the creditor to establish its defenses under Section 547(c) of the Bankruptcy Code.
With SBRA, debtors now have an additional hurdle before asserting preference claims. A debtor/trustee may avoid a preference payment “based on reasonable due diligence in the circumstances of the case and taking into account a party’s known or reasonably knowable affirmative defenses .
2019 was a year of growth for NACM Commercial Services! We wanted to share this with you, our customers, which helped make this happen. We offered more classes and webinars, hosted the Western Credit Conference, created new Industry Groups and so much more.
Thank you for your support! We couldn’t do any of it without you. Check out this video recapping our year.
Tell us in the comments your favorite thing from 2019 and what you would love to see more of in 2020.
“The art of communication is the language of leadership.” –James Humes, five-time presidential speechwriter
Credit managers are the heroes on the frontlines to protect a company’s financial wellbeing. Whether assessing credit decisions or following up with customers on payment, credit managers lead their company into battle and one of their most versatile weapons is communication. As an essential element to personal and professional lives, how one wields this weapon will determine if he or she reaches their desired outcome.
From the first phone call to the final payment, communication is a requirement for a healthy credit-customer relationship. Successfully harnessing and implementing communication strategies requires a very specific set of skills. Although credit managers can’t necessarily control customers’ willingness to communicate, there are techniques they can practice to improve the process.… Read the rest
Congratulations to our newest designation recipients From the November 4th Exam. Are you interested in education and getting a designation? Check out this guide on the certification program. If you have any questions contact Shawna Kelly.
Certified Business Associate (CBA) Christine Tyler Perry, CBA – Premier Nutrition Corp Shilo Stevens, CBA – Keen Inc Kathy Millard, CBA – Modern Glass Co Brandon Culpepper, CBA – Modern Glass Co Janis Jackson, CBA – PotlatchDeltic Araceli Magana, CBA – Joseph T Ryerson & Son Inc Nikki Keahey, CBA – Ferguson Enterprises LLC Laura Contreras, CBA – Samuel Son & Co (USA) Inc
Certified Business Fellow (CBF) Lindsey Overline, CBF – Crescent Electric Supply Inc
Knowledge is of the highest priority in construction credit. Gathering information, knowing where a creditor stands within the project’s supply chain and how to get paid are only some of the important aspects of having a successful relationship with customers, a customer’s customer and so on. The information needed depends on a number of factors, including but not limited to where a creditor stands within the supply chain and the type of project. But, one of the biggest questions isn’t knowing what information to have, it’s how to obtain it and use it as an advantage when it comes time for a creditor to be paid.
The best time for a construction creditor to gather information about a project is at the beginning, whether it’s setting up a new customer on a first-time order or a years-long customer making an order on the second of the month.… Read the rest
The foundation has had an amazing year fund-raising for scholarships. In September we had the 2019 NACM Commercial Services Golf scramble held at the beautiful Coeur d’ Alene Resort Golf Course in Idaho. At this event between raffles, baskets, sponsors we were able to raise $3528 for scholarships. This is a yearly event so look for details on the next one coming in 2020.
Just last month we had the Western Credit Conference and we had an amazing time. As you may have seen we have been raffling off a trip to Mexico this past year and pulled the winner at the conference. We also had a collection of raffle baskets. In addition, the hotel gave us a commission on each hotel room and signature drink purchased at the hotel.… Read the rest