Setoff and Recoupment in Bankruptcy: A Primer for Credit Managers
Today’s credit manager is under more pressure than ever.
Accounting wants to know why bad debt expense is so high, while sales is calling to find out why their largest prospective customer in years was turned down for financing. Sometimes it feels like no one is happy with the news coming out of your department.
Add to a credit manager’s woes a customer’s bankruptcy filing and it may seem time to rethink your career choice. Unfortunately, in today’s economic climate, bankruptcies are a part of doing business. And although a customer’s bankruptcy filing generally means a credit grantor will suffer some loss, often there are ways to mitigate those losses, both prior and subsequent to the filing of a bankruptcy petition. To continue reading, click here.
Print and share
Authors
Notice
Before proceeding, please note: If you are not a current client of Perkins Coie, please do not include any information in this e-mail that you or someone else considers to be of a confidential or secret nature. Perkins Coie has no duty to keep confidential any of the information you provide. Neither the transmission nor receipt of your information is considered a request for legal advice, securing or retaining a lawyer. An attorney-client relationship with Perkins Coie or any lawyer at Perkins Coie is not established until and unless Perkins Coie agrees to such a relationship as memorialized in a separate writing.