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ABI's Newest Title Helps Businesses Understand What to Expect When a Customer Declares Bankruptcy

Alexandria, Va. — ABI’s Business Creditor’s Guide to Distressed Vendors, Debt Collection and Bankruptcy provides strategies for business owners in the event that a major customer files for bankruptcy and leaves behind a large unpaid account receivable. The Guide offers options available to help screen a business’s customers, plan for worst-case scenarios, and, if the situation does arrive, efficiently handle the financial fallout. This book offers background and insight into such matters as why businesses fail, the Fair Debt Collection Practices Act, and other statutes that affect a business’s relationship with its vendors, relevant chapters of the Bankruptcy Code that affect debt settlement, out-of-court alternatives to bankruptcy that might come into play, and several other concepts that business owners should be aware of when dealing with distressed vendors.

About the authors:

As co-chair of Polsinelli’s Bankruptcy and Financial Restructuring practice in Wilmington, Del., and a managing shareholder, Christopher A. Ward tackles financial restructurings, litigation and asset sales with a creative and aggressive approach. He has significant experience in representing chapter 11 debtors and unsecured creditors’ committees, enabling him to provide clients with insight into both sides of the restructuring industry. In addition to being an author and speaker on business bankruptcy, Ward is a member of ABI’s Board of Directors.

Ryan G. Foley is co-chair of Shook Hardy & Bacon, LLP’s Bankruptcy and Creditors’ Rights Practice Group in Philadelphia. He has practiced extensively in the areas of bankruptcy and creditors’ rights for nearly 15 years, representing secured and unsecured creditors, lessors, lessees and investors in a wide variety of issues relating to bankruptcy, insolvency and debt restructuring. Foley was recently honored as a member of ABI’s inaugural “40 Under 40” class; the program recognizes top insolvency industry professionals under the age of 40.

Members of the press interested in reviewing a copy of ABI’s Business Creditor’s Guide to Distressed Vendors, Debt Collection and Bankruptcy or to set up an interview with the authors, please contact ABI Public Affairs Manager John Hartgen at 703-894-5935 or jhartgen@abiworld.org.  

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ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes more than 12,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional conference information, visit http://www.abiworld.org/conferences.html.