By: Rod Wheeland, CCE
NACM Commercial Services
Judy D. Thompson and Glenn C. Thompson, Survival Guide to Bankruptcy for In-House Counsel, American Bankruptcy Institute, 2017.
This book might readily be entitled Survival Guide to Bankruptcy for Trade Credit Management. The content includes an overview of bankruptcy and the various chapters usually seen by trade creditors; debtor, trustee, and DIP rights as they impact creditors; creditors’ rights in bankruptcy; doing business with companies in bankruptcy; and out of court alternatives. It’s written with readily understandable concepts, and includes a glossary of bankruptcy terms and FAQs.
Survival Guide provides excellent, higher-level explanations of the automatic stay, preferences and defenses, avoidable transfers, obtaining information, litigation in bankruptcy, the planning process, and doing business with the DIP. While it’s meant to survey the landscape – and bankruptcy certainly has many complex and challenging provisions – it provides a solid grounding and starting point for specific situations. And, it includes practical tips for addressing the issues raised when you have a customer that’s taken this option.
I consider Survival Guide an exceptional resource for the trade credit manager. I look forward to using this book in a future class.
*Note: If you wish to purchase this text, do so through the NACM Commercial Services office for a special discount.
