Red Flags in Financials. A Bankruptcy Practitioner's Guide to Detecting Fraud and Uncovering the Evidence to Support Your Case

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Red Flags in Financials. A Bankruptcy Practitioner's Guide to Detecting Fraud and Uncovering the Evidence to Support Your Case"

Transcription

1 Red Flags in Financials A Bankruptcy Practitioner's Guide to Detecting Fraud and Uncovering the Evidence to Support Your Case

2 Introduction Moderator William G. Krieger, CPA/ABV/CFF/CGMA, CFE Bill is a Managing Director/Shareholder with Gleason & Associates, P.C. He has nearly 30 years of experience in the areas of accounting, finance, financial analysis, business development, revenue cycle management, mergers and acquisitions, and turnaround management. As the leader of the firm s litigation, business valuation, and forensic accounting practice areas, Bill provides project management and analysis for a full range of accounting and consulting services in the areas of forensic accounting, financial reorganization, litigation support, business valuation. Bill has extensive experience in quantifying financial damages related to fraudulent conveyances, shareholder disputes, breach of contract claims, warranty issues, class action lawsuits and business interruption claims.

3 Program Agenda 1. Introduction of Panelists 2. Overview of Fraud and its Prevalence 3. Understanding Financial Reporting and Red Flags 4. Potential Remedies for Red Flags 5. Closing Comments

4 Introduction Judge Gregory L. Taddonio Judge Taddonio is a judge for the United States Bankruptcy Court for the Western District of Pennsylvania. Judge Taddonio was appointed to the Court on July 1, Prior to his appointment, Judge Taddonio earned his bachelor s degree at the University of Notre Dame and his J.D. at the University of Pittsburgh School of Law. Judge Taddonio began his career as an associate at Black McCuskey Souers & Arbaugh, where he worked from 1996 until He accepted a position at Reed Smith LLP and was elevated to partner in 2007, working in its Commercial Restructuring & Bankruptcy Group until his appointment to the bench.

5 Introduction William E. Kelleher Jr., Esquire Bill is a Director with Cohen & Grigsby, PC. and serves as Chair of the firm's Bankruptcy and Creditors' Rights Group. His practice concentrates on all aspects of bankruptcy, creditors rights, financing transactions and commercial law, as well as litigation. He is a past chair of the Bankruptcy and Commercial Law Section of the Allegheny County Bar Association and has been recognized as a Super Lawyer and in The Best Lawyers in America in the fields of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, and Litigation Bankruptcy. He is board certified in Business Bankruptcy by the American Board of Certification. He also is a Mediator in the local Bankruptcy Court s Mediation Program.

6 Introduction Jerome (Jeb) Schmitt, CPA/ABV/CFF, CFE Jeb is a Director with Gleason & Associates, P.C., with more than 15 years of experience in forensic accounting, financial reorganization, business valuation and litigation support. In over 12 years of experience at Gleason, Jeb has gained experience in all lines of business offered by the firm and managed a variety of engagements including performing fraud investigations, providing financial advisory services in the context of bankruptcy, providing expert witness testimony, and preparing valuations of closely held businesses.

7 Overview of Fraud and its Prevalence Is Fraud a Widespread and Costly Problem? Projected Potential Total Global Fraud Loss: $3.7 trillion Median Losses per Fraud Scheme: $145,000 The longer fraud goes undetected, the more costly it becomes. Small businesses (less than 100 employees) face different fraud risks than larger organizations. Employees were the source of almost half of all tips leading to fraud detection. Many organizations are never able to fully recover their losses due to fraud. Source: The Association of Certified Fraud Examiners (ACFE) 2014 Report to the Nations on Occupational Fraud and Abuse.

8 Overview of Fraud and its Prevalence Major Categories of Fraud o Financial Statement Fraud o Asset Misappropriation o Fraudulent Conveyance Common Types of Fraud in Bankruptcy o Actual Fraud versus Constructive Fraud

9 Understanding Financial Reporting and Red Flags Looking for Red Flags in Financial Statements o Financial Reporting Inside and Outside of the Bankruptcy Process Examples of Fraud Red Flags in the Context of: o Operating/Cash Flow Budgets o Bankruptcy Schedules and Monthly Operating Reports o Missing/Undervalued Assets o Fraudulent Transfers

10 Understanding Financial Reporting and Red Flags Role of the Financial Advisor Managing the Cost/Benefit of a Financial Advisor Early Engagement Focus on Value Added Work

11 Potential Remedies for Red Flags Appointing Examiner, Chief Responsible Officer, or Trustee. Rule 2004 examinations Conversion, dismissal, relief from stay, equitable subordination, objections to discharge of debt. Adversary proceedings such as avoidance actions, breach of fiduciary duty claims, diversion of corporate opportunity, conspiracy.

12 Closing Comments / Questions

Charles J. Pascarella

Charles J. Pascarella Charles J. Pascarella PARTNER Chuck is a founding partner of Pascarella & Wiker, LLP. Prior to that, he was a 12-year audit partner with one of the national ( Big Four ) accounting firms. He was also the

More information

DONALD F. CONWAY, CPA, Managing Director, The Mercadien Group

DONALD F. CONWAY, CPA, Managing Director, The Mercadien Group DONALD F. CONWAY, CPA, Managing Director, The Mercadien Group Donald F. Conway, CPA, is a principal in Mercadien, P.C., a CPA firm with a multi-disciplined consulting practice. Mr. Conway specializes in

More information

ALI-ABA Topical Courses Asset Protection and Creditors' Attacks

ALI-ABA Topical Courses Asset Protection and Creditors' Attacks ALI-ABA Topical Courses Asset Protection and Creditors' Attacks Cosponsored by The American College of Trust and Estate Counsel (ACTEC) May 8, 2012 Telephone Seminar/Audio Webcast PROGRAM SCHEDULE FACULTY

More information

MICHAEL S. WILK Attorney, Arbitrator, and Mediator

MICHAEL S. WILK Attorney, Arbitrator, and Mediator MICHAEL S. WILK Attorney, Arbitrator, and Mediator HIRSCH & WESTHEIMER, P.C. 700 LOUISIANA, SUITE 2550 HOUSTON, TEXAS 77002 (713) 223-5181 (713) 223-9319 fax e-mail: mwilk@hirschwest.com CURRENT EMPLOYER/TITLE:

More information

Nine Gould & Ratner LLP Attorneys Named Illinois Super Lawyers; Five Attorneys Named "Rising Stars" for 2013

Nine Gould & Ratner LLP Attorneys Named Illinois Super Lawyers; Five Attorneys Named Rising Stars for 2013 Nine Gould & Ratner LLP Attorneys Named Illinois Super Lawyers; Five Attorneys Named "Rising Stars" for 2013 Contact: Mary Bedke 312.899.1676 mbedke@gouldratner.com FOR IMMEDIATE RELEASE CHICAGO January

More information

DANA A. BASNEY MSBA, CPA, ABV, CFF, CIRA, CVA, CFE

DANA A. BASNEY MSBA, CPA, ABV, CFF, CIRA, CVA, CFE DANA A. BASNEY MSBA, CPA, ABV, CFF, CIRA, CVA, CFE CURRICULUM VITAE Director of CBIZ MHM, LLC Shareholder of Mayer Hoffman McCann P.C. 10616 Scripps Summit Court San Diego, CA 92131 Phone: (858) 795-2018

More information

Mergers & Acquisitions. Turnaround & Restructuring. Litigation Support & Expert Testimony. Valuation Services

Mergers & Acquisitions. Turnaround & Restructuring. Litigation Support & Expert Testimony. Valuation Services Turnaround & Restructuring Litigation Support & Expert Testimony Mergers & Acquisitions Valuation Services Turnaround & Restructuring Turnaround & Restructuring Turnaround & Restructuring MCA Financial

More information

UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF MICHIGAN. NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE

UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF MICHIGAN. NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE B 201A (Form 201A) (11/11) UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF MICHIGAN NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE In accordance with 342(b) of the Bankruptcy Code,

More information

CHAPTER 10 TRUSTEES, EXAMINERS AND CREDITORS COMMITTEES

CHAPTER 10 TRUSTEES, EXAMINERS AND CREDITORS COMMITTEES CHAPTER 10 TRUSTEES, EXAMINERS AND CREDITORS COMMITTEES THE US TRUSTEES PROGRAM A BRIEF HISTORY LESSON: was an experiment in some districts when the Bankruptcy Code first became effective in 1979. is a

More information

JOEL M. ROSENTHAL, C.P.A., CVA

JOEL M. ROSENTHAL, C.P.A., CVA JOEL M. ROSENTHAL, C.P.A., CVA JOEL M. ROSENTHAL, CPA, CVA As director of Schneider Downs Business Advisors, Joel is responsible for the strategic direction and development of the firm s specialized business

More information

Bankruptcy Business and Transaction Law Commercial Litigation Debtor/Creditor Law Real Estate

Bankruptcy Business and Transaction Law Commercial Litigation Debtor/Creditor Law Real Estate John J. Stockdale, Jr., Associate 40950 Woodward Avenue, Suite 100 Bloomfield Hills, Michigan 48304 T: 248.540.3340 F: 248.282.2157 JStockdale@schaferandweiner.com PRACTICES Bankruptcy Business and Transaction

More information

08-01789-brl Doc 5399 Filed 06/27/13 Entered 06/27/13 12:27:17 Main Document Pg 1 of 8

08-01789-brl Doc 5399 Filed 06/27/13 Entered 06/27/13 12:27:17 Main Document Pg 1 of 8 Pg 1 of 8 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK SECURITIES INVESTOR PROTECTION CORPORATION, Plaintiff-Applicant, v. Adv. Pro. No. 08-01789 (BRL) SIPA Liquidation (Substantively Consolidated)

More information

IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY 1

IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY 1 IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY 1 If you decide to seek bankruptcy relief, you can represent yourself, you can hire an attorney to represent you, or you can

More information

Laurel E. Davis (702) 692-8004 ldavis@fclaw.com

Laurel E. Davis (702) 692-8004 ldavis@fclaw.com Laurel E. Davis (702) 692-8004 ldavis@fclaw.com Ms. Davis practices in the areas of business bankruptcy, debtor rights, creditor remedies, commercial litigation, workouts and restructures. Ms. Davis is

More information

UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE

UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In Re: : CHAPTER 11 MORTGAGE LENDERS NETWORK : USA, INC. : CASE NO.: 07-10146(PJW) Debtor : MEMORANDUM OF LAW IN SUPPORT OF MOTION TO ENJOIN

More information

Bankruptcy. Individuals and businesses use bankruptcy as a way to obtain relief from debts owed to creditors.

Bankruptcy. Individuals and businesses use bankruptcy as a way to obtain relief from debts owed to creditors. Bankruptcy Document last updated 2/2/2012. Individuals and businesses use bankruptcy as a way to obtain relief from debts owed to creditors. The United States Constitution authorizes Congress to pass uniform

More information

Los Angeles Business Litigation Lawyer

Los Angeles Business Litigation Lawyer Los Angeles Business Litigation Lawyer About Us The Law Offices of Mathew & George is a boutique law firm representing both plaintiffs and defendants in litigation matters and particularly in matters of

More information

MICHAEL A. STRAUCH, CPA/ABV, CFE, CVA

MICHAEL A. STRAUCH, CPA/ABV, CFE, CVA MICHAEL A. STRAUCH, CPA/ABV, CFE, CVA CURRICULUM VITAE Girardot, Strauch & Co. Certified Public Accounts Phone: (765) 423-5313 316 Main Street Fax: (765) 742-4692 Lafayette IN 47901 E-mail:mike@gsc-cpa.com

More information

NOTICE OF DESIGNATION OF LIQUIDATING TRUSTEE PURSUANT TO SECTION 7.02.1 OF SECOND AMENDED JOINT PLAN OF LIQUIDATION OF BOSTON GENERATING, LLC, ET AL.

NOTICE OF DESIGNATION OF LIQUIDATING TRUSTEE PURSUANT TO SECTION 7.02.1 OF SECOND AMENDED JOINT PLAN OF LIQUIDATION OF BOSTON GENERATING, LLC, ET AL. D. J. Baker Robert J. Rosenberg Caroline A. Reckler Kimberly A. Posin (appearing pro hac vice) LATHAM & WATKINS LLP 885 Third Avenue New York, New York 10022-4834 Telephone: (212) 906-1200 Facsimile: (212)

More information

JULY 17, 2010 cmargulies@margulies law.com

JULY 17, 2010 cmargulies@margulies law.com Mr. Margulies commitment to helping clients obtain practical solutions through creative, cost-effective strategies distinguishes his reputation as a Bankruptcy Law Attorney. JULY 17, 2010 cmargulies@margulies

More information

Erica B. Garay Member of the Firm

Erica B. Garay Member of the Firm Erica B. Garay Member of the Firm 990 Stewart Avenue Garden City, New York 11530 (516) 592-5770 egaray@msek.com Erica B. Garay is the Chair of the Alternative Dispute Resolution (ADR) practice group, an

More information

35th Annual Debtor Creditor Law Conference

35th Annual Debtor Creditor Law Conference Continuing Legal Education for Wisconsin 35th Annual Debtor Creditor Law Conference Featuring a distinguished panel of bankruptcy lawyers and judges Friday, February 20, 2015 Sheraton Madison Hotel Madison,

More information

Bankruptcy March 7, 2013 FACULTY BIOGRAPHIES. Faculty Biographies 1 of 7

Bankruptcy March 7, 2013 FACULTY BIOGRAPHIES. Faculty Biographies 1 of 7 Bankruptcy March 7, 2013 FACULTY BIOGRAPHIES Faculty Biographies 1 of 7 Faculty Biographies 2 of 7 PROGRAM CHAIRS WILLIAM F. MALAIER JR. Nagler & Malaier, P.S. 500 Union Street, Suite 927 Seattle, WA 98101-2320

More information

STEVEN B. EPSTEIN. Wedgle Epstein, P.C. The Equitable Building, Suite 230 730 Seventeenth Street Denver, Colorado 80202 Telephone: (303)893 3111

STEVEN B. EPSTEIN. Wedgle Epstein, P.C. The Equitable Building, Suite 230 730 Seventeenth Street Denver, Colorado 80202 Telephone: (303)893 3111 STEVEN B. EPSTEIN Wedgle Epstein, P.C. The Equitable Building, Suite 230 730 Seventeenth Street Denver, Colorado 80202 Telephone: (303)893 3111 Shareholder Shareholder: Wedgle Epstein, P.C. Education University

More information

More than just numbers.

More than just numbers. More than just numbers. Part art. Part science. All peace of mind. ValuQuest provides services for the valuation of complete businesses and business segments, as well as the interests of business owners

More information

Bankruptcy Basics June 9, 2009

Bankruptcy Basics June 9, 2009 Bankruptcy Basics June 9, 2009 Brooks Hamilton Haynes and Boone, LLP www.haynesboone.com Purposes of bankruptcy Mechanism to allow person or company that cannot pay creditors to resolve debts through division

More information

DAVID L. GRESEN, CPA/ABV/CFF, CFE CURRICULUM VITAE

DAVID L. GRESEN, CPA/ABV/CFF, CFE CURRICULUM VITAE DAVID L. GRESEN, CPA/ABV/CFF, CFE CURRICULUM VITAE PROFESSIONAL PROFILE David L. Gresen, CPA/ABV/CFF, CFE assists the courts and attorneys in engagements involving business valuations, financial asset

More information

ALI-ABA Course of Study Fundamentals of Bankruptcy Law. May 4-6, 2006 Chicago, Illinois

ALI-ABA Course of Study Fundamentals of Bankruptcy Law. May 4-6, 2006 Chicago, Illinois ALI-ABA Course of Study Fundamentals of Bankruptcy Law May 4-6, 2006 Chicago, Illinois PROGRAM FACULTY PARTICIPANTS FACULTY BIOGRAPHIES STUDY MATERIAL TABLE OF CONTENTS Page ix xi xiii The following are

More information

We turn complexity into an advantage Regulatory Compliance Suitability of Funds

We turn complexity into an advantage Regulatory Compliance Suitability of Funds Suitability of Funds Inward Bound Business Due Diligence Entity Structures Expatriation Tax Services Tax Treaty Effects For the Immigration & Expatriation U.S. Partial Amnesty Programs Mergers & Acquisitions

More information

A Leading Provider of Forensic Accounting and Valuation Services

A Leading Provider of Forensic Accounting and Valuation Services Explain the records reflecting our findings to lawyers, judges, juries IT'S WHAT WE DO Business Valuation Fraud Investigation Calculation of Damages Matrimonial Financial Services A Leading Provider of

More information

Benjamin Weintraub Distinguished Professor of Bankruptcy Law, Hofstra University School of Law, Hempstead, New York

Benjamin Weintraub Distinguished Professor of Bankruptcy Law, Hofstra University School of Law, Hempstead, New York ALAN N. RESNICK Hofstra University School of Law 121 Hofstra University Hempstead, New York 11549 Tel: (516) 463-5872 Fax: (516) 481-8509 E-mail: lawanr@hofstra.edu Current Employment: Benjamin Weintraub

More information

United States Court of Appeals

United States Court of Appeals In the United States Court of Appeals No. 13-1186 For the Seventh Circuit IN RE: JAMES G. HERMAN, Debtor-Appellee. APPEAL OF: JOHN P. MILLER Appeal from the United States District Court for the Northern

More information

Case 2:11-cv-08607-R -DTB Document 13 Filed 11/18/11 Page 1 of 7 Page ID #:355 EXHIBIT A

Case 2:11-cv-08607-R -DTB Document 13 Filed 11/18/11 Page 1 of 7 Page ID #:355 EXHIBIT A Case 2:11-cv-08607-R -DTB Document 13 Filed 11/18/11 Page 1 of 7 Page ID #:355 EXHIBIT A Case 2:11-cv-08607-R -DTB Document 13 Filed 11/18/11 Page 2 of 7 Page ID #:356 David Zaro Partner Los Angeles Office

More information

Agenda. 10:20-12:00 Lily Shue, CISA, CISM, CCP, CGEIT, edelta Consulting, Ltd. - "Credit Card Fraud and PCI DSS Compliance Requirements"

Agenda. 10:20-12:00 Lily Shue, CISA, CISM, CCP, CGEIT, edelta Consulting, Ltd. - Credit Card Fraud and PCI DSS Compliance Requirements !\...UTGERS Rutgers Business School Newark and New Brunswick Registration October 28, 2009 Room 228 One Washington Park Newark, NJ 07102 Rutgers University Fraud Seminar Earn up to 8 credits in auditing

More information

GLENN S. LIEBMAN, CPA/ABV CURRICULUM VITAE

GLENN S. LIEBMAN, CPA/ABV CURRICULUM VITAE GLENN S. LIEBMAN, CPA/ABV CURRICULUM VITAE PROFESSIONAL PROFILE Glenn Liebman is a Member in the business valuation and litigation consulting support firm of Klein Liebman & Gresen, LLC. Mr. Liebman has

More information

Charles P. Summerall, IV

Charles P. Summerall, IV Charles P. Summerall, IV Profile Areas of Practice Bankruptcy and Creditors Rights Business Litigation Financial Services Litigation Contact Information Charleston Office 843/720-4616 (phone) 843/723-7398

More information

LinkedIn Summary Swipe File & Examples

LinkedIn Summary Swipe File & Examples www.punchmedia.ca www.facebook.com/punchmediadotca www.twitter.com/punchmediadotca http://linkedin.com/company/punchmedia MAIN GOALS: LinkedIn Summary Swipe File & Examples Create a strong branded presence

More information

A Bankruptcy Perspective in Valuation Engagements In Good Times and in Bad Times

A Bankruptcy Perspective in Valuation Engagements In Good Times and in Bad Times A Bankruptcy Perspective in Valuation Engagements In Good Times and in Bad Times American Institute of Certified Public Accountants Webinar Series May 5, 2010 R. James Alerding CPA/ABV, ASA, CVA, CFF Clifton

More information

Partner spyounger@pbwt.com Tel: 212-336-2685 Fax: 212-336-7981

Partner spyounger@pbwt.com Tel: 212-336-2685 Fax: 212-336-7981 Stephen A. Younger Partner spyounger@pbwt.com Tel: 212-336-2685 Fax: 212-336-7981 Stephen Younger, Past President of the New York State Bar Association, is a leading commercial litigator who is also well-known

More information

BANKRUPTCY TERMINOLOGY

BANKRUPTCY TERMINOLOGY ADVERSARY PROCEEDING BANKRUPTCY TERMINOLOGY A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the bankruptcy court. ASSUME An agreement to continue performing

More information

WHAT EVERY ATTORNEY NEEDS TO KNOW ABOUT BANKRUPTCY

WHAT EVERY ATTORNEY NEEDS TO KNOW ABOUT BANKRUPTCY WHAT EVERY ATTORNEY NEEDS TO KNOW ABOUT BANKRUPTCY 6 Nevada Lawyer March 2014 Where to Look BY CANDACE C. CARLYON, ESQ. AND ADAM BOWLER, ESQ. A great starting point in a search for bankruptcy information

More information

Notice Required by 11 U.S.C. 342(b) and 527(a)

Notice Required by 11 U.S.C. 342(b) and 527(a) 1 P a g e Notice Required by 11 U.S.C. 342(b) and 527(a) In accordance with section 342(b) of the Bankruptcy Code, this notice: (1) Describes briefly the services available from credit counseling services;

More information

IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY OR BANKRUPTCY PETITION PREPARER.

IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY OR BANKRUPTCY PETITION PREPARER. IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY OR BANKRUPTCY PETITION PREPARER. If you decide to seek bankruptcy relief, you can represent yourself, you can hire an attorney

More information

KENNETH O. SIMON. Partner. Kenneth O. Simon Page 1. Contact Information: Kenneth O. Simon kosimon@csattorneys.com Phone: (205)250 6622

KENNETH O. SIMON. Partner. Kenneth O. Simon Page 1. Contact Information: Kenneth O. Simon kosimon@csattorneys.com Phone: (205)250 6622 Contact Information: Kenneth O. Simon kosimon@csattorneys.com Phone: (205)250 6622 KENNETH O. SIMON Partner Ken Simon has more than 30 years experience as a judge and litigator. After law school graduation

More information

Errol D. Soriano, CA, FCBV, CFE. Profile

Errol D. Soriano, CA, FCBV, CFE. Profile Campbell Valuation Partners Limited 70 University Avenue Suite 320, P.O. Box 11 Toronto, Ontario, M5J 2M4 Direct line: (416) 597-4520 General line: 416-597-1198 Fax: (416) 597-9779 Email: esoriano@cvpl.com

More information

UNITED STATES BANKRUPTCY COURT DISTRICT OF NEW JERSEY

UNITED STATES BANKRUPTCY COURT DISTRICT OF NEW JERSEY UNITED STATES BANKRUPTCY COURT DISTRICT OF NEW JERSEY In Re: CASES UNDER CHAPTER 13 OF THE BANKRUPTCY CODE ORDER RELATING TO MOTIONS FOR RELIEF FROM THE AUTOMATIC STAY; AND REQUIRING THE FILING OF CHAPTER

More information

Chapter 7 Liquidation Under the Bankruptcy Code

Chapter 7 Liquidation Under the Bankruptcy Code From Administrative Office of the United States Courts, Bankruptcy Basics, Public Information Series. Chapter 7 Liquidation Under the Bankruptcy Code The chapter of the Bankruptcy Code providing for "liquidation,"

More information

Global Financial Advisory Services

Global Financial Advisory Services Global Financial Advisory Services INVESTMENT BANKING VALUATION & FINANCIAL OPINIONS DISPUTE ADVISORY & FORENSIC SERVICES We serve a range of clients from Fortune 500 corporations to privately held companies

More information

Friday, October 10 West Tower, Regency Ballroom CD 1:00 pm 3:00 pm

Friday, October 10 West Tower, Regency Ballroom CD 1:00 pm 3:00 pm SuSan M. freeman ModEraTor Susan Freeman concentrates her practice on business bankruptcy and on appeals of all kinds. She is the only lawyer invited to membership (and leadership) in both the American

More information

BRIAN F. SPECTOR, LLC

BRIAN F. SPECTOR, LLC Brian F. Spector BRIAN F. SPECTOR, LLC Post Office Box 566206 Miami, Florida 33256-6206 Tel 305.666.1664 Cell 305.613.5200 Fax 305.661.8481 brian@bspector.com www.bspector.com EXPERIENCE BRIAN F. SPECTOR,

More information

EXPERT WITNESS EXPERIENCE - BANKING STANDARDS

EXPERT WITNESS EXPERIENCE - BANKING STANDARDS Nancy Terrill Detailed Curriculum Vitae May 21, 2015 Inglewood Associates 1241 High Street Fairport Harbor, Ohio 44077 Cell: 440-477-4781 E-Mail nterrill@ingw.com Nancy Terrill has an MBA, a CTP (Certified

More information

CHAPTER 13 INSTRUCTIONS TO DEBTORS

CHAPTER 13 INSTRUCTIONS TO DEBTORS CHAPTER 13 INSTRUCTIONS TO DEBTORS Ladies and Gentlemen: My name is Ross W. Krumm. I am the Chief Judge of the United States Bankruptcy Court for the Western District of Virginia. There are two other judges

More information

DIRECTORS DUTIES IN THE ZONE OF INSOLVENCY 11:15 AM. Julia Darlow, University of Michigan. Andrew Kramer, UBS Securities LLC

DIRECTORS DUTIES IN THE ZONE OF INSOLVENCY 11:15 AM. Julia Darlow, University of Michigan. Andrew Kramer, UBS Securities LLC DIRECTORS DUTIES IN THE ZONE OF INSOLVENCY 11:15 AM Julia Darlow, University of Michigan Andrew Kramer, UBS Securities LLC Keith Marchiando, formerly with DURA Automotive Judy O Neill, Foley & Lardner

More information

Michigan Association of County Treasurers 2013 Summer Conference Crystal Mountain August 11-14, 2013 BANKRUPTCY

Michigan Association of County Treasurers 2013 Summer Conference Crystal Mountain August 11-14, 2013 BANKRUPTCY Michigan Association of County Treasurers 2013 Summer Conference Crystal Mountain August 11-14, 2013 BANKRUPTCY Monday, August 12, 2013 9:30 a.m. 10:30 a.m. Presented by: John R. Axe of Axe & Ecklund,

More information

Presented by Gina Silvestri, Esq.

Presented by Gina Silvestri, Esq. Why file for a Bankruptcy? Loss of job? Medical bills? Foreclosure? Divorce? Just a run of bad luck? A fundamental goal of the federal bankruptcy laws is to give debtors a financial fresh start from burdensome

More information

Education and Training in Fraud and Forensic Accounting: A Guide for Educational Institutions, Stakeholder Organizations, Faculty and Students

Education and Training in Fraud and Forensic Accounting: A Guide for Educational Institutions, Stakeholder Organizations, Faculty and Students NIJ Special Report Education and Training in Fraud and Forensic Accounting: A Guide for Educational Institutions, Stakeholder Organizations, Faculty and Students NOTE: The following is based on an exposure

More information

36th Annual Debtor Creditor Law Conference

36th Annual Debtor Creditor Law Conference Continuing Legal Education for Wisconsin 36th Annual Debtor Creditor Law Conference Featuring a distinguished panel of bankruptcy lawyers and judges Friday, February 12, 2016 Sheraton Madison Hotel Madison,

More information

Why do so many companies call on McKool Smith?

Why do so many companies call on McKool Smith? Why do so many companies call on McKool Smith? What the business community says... McKool Smith has long been my go to firm for important matters throughout the United States, and I continue to be impressed

More information

Case 15-40289-rfn11 Doc 241 Filed 03/25/15 Entered 03/25/15 17:42:34 Page 1 of 4

Case 15-40289-rfn11 Doc 241 Filed 03/25/15 Entered 03/25/15 17:42:34 Page 1 of 4 Case 15-40289-rfn11 Doc 241 Filed 03/25/15 Entered 03/25/15 17:42:34 Page 1 of 4 David M. Bennett Texas Bar No. 02139600 Richard Roper Texas Bar No. 17233700 Katharine Clark Texas Bar No. 24046712 THOMPSON

More information

EXHIBIT E TO DECLARATION OF MICHAEL G. RHODES IN SUPPORT OF JOINT MOTION FOR PRELIMINARY APPROVAL OF REVISED SETTLEMENT

EXHIBIT E TO DECLARATION OF MICHAEL G. RHODES IN SUPPORT OF JOINT MOTION FOR PRELIMINARY APPROVAL OF REVISED SETTLEMENT Case3:11-cv-01726-RS Document238-5 Filed10/05/12 Page1 of 5 EXHIBIT E TO DECLARATION OF MICHAEL G. RHODES IN SUPPORT OF JOINT MOTION FOR PRELIMINARY APPROVAL OF REVISED SETTLEMENT Case3:11-cv-01726-RS

More information

Michael J. Lichtenstein

Michael J. Lichtenstein Michael J. Lichtenstein 12505 Park Potomac Avenue 6th Floor Potomac, MD 20854 T (301) 230-5231 F (301) 230-2891 mjl@shulmanrogers.com Michael Lichtenstein is a shareholder in the Litigation and Corporate

More information

Michael P. Alerding SENIOR DIRECTOR ALERDING CPA GROUP

Michael P. Alerding SENIOR DIRECTOR ALERDING CPA GROUP SENIOR DIRECTOR ALERDING CPA GROUP 4181 E. 96 TH STREET, SUITE 180 INDIANAPOLIS, IN 46240 (317) 569-4181 X. 223 (DIRECT) (317) 569-0564 (FAX) malerding@alerdingcpagroup.com CURRICULUM VITAE OVERVIEW OF

More information

STANDARDS FOR ATTORNEY CERTIFICATION OF THE TEXAS BOARD OF LEGAL SPECIALIZATION. The Standards for Attorney Certification are divided into two parts.

STANDARDS FOR ATTORNEY CERTIFICATION OF THE TEXAS BOARD OF LEGAL SPECIALIZATION. The Standards for Attorney Certification are divided into two parts. STANDARDS FOR ATTORNEY CERTIFICATION OF THE TEXAS BOARD OF LEGAL SPECIALIZATION These Attorney Standards for Certification are established by Texas Board of Legal Specialization after approval of the Supreme

More information

Post-Petition Bankruptcy Financing

Post-Petition Bankruptcy Financing Presenting a live 90-minute webinar with interactive Q&A Post-Petition Bankruptcy Financing Evaluating and Documenting DIP Financing and Obtaining Cash Collateral and Financing Orders THURSDAY, FEBRUARY

More information

Wednesday, October 8 East Tower, Columbus GH 3:00 pm 5:00 pm

Wednesday, October 8 East Tower, Columbus GH 3:00 pm 5:00 pm ChriSToPhEr CoMbEST ModEraTor Christopher Combest is a partner in Quarles & Brady's Commercial Bankruptcy, Restructuring and Creditors' Rights Group in Chicago and is co-chair of the Executory Contracts

More information

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION In re: Jointly Administered Case No. 01-42530-H4-11 Metals USA, Inc., et al., Case Nos. 01-42530-H4-11 through 01-42574-H4-11

More information

Chapter 13: Repayment of All or Part of the Debts of an Individual with Regular Income ($235 filing fee, $39 administrative fee: Total fee $274)

Chapter 13: Repayment of All or Part of the Debts of an Individual with Regular Income ($235 filing fee, $39 administrative fee: Total fee $274) B 201A (Form 201A) (12/09) WARNING: Effective December 1, 2009, the 15-day deadline to file schedules and certain other documents under Bankruptcy Rule 1007(c) is shortened to 14 days. For further information,

More information

230 West Monroe Suite 240 Chicago, IL 60606 312-372-4400

230 West Monroe Suite 240 Chicago, IL 60606 312-372-4400 230 West Monroe Suite 240 Chicago, IL 60606 312-372-4400 The Porter Law Network is owned by attorney Karen J. Porter. Ms. Porter is licensed in the State of Illinois. Ms Porter has more than 25 years of

More information

PARRY G. CAMERON, Senior Attorney

PARRY G. CAMERON, Senior Attorney Phone: 310.557.2009 Fax: 310.551.0283 Email: pcameron@tocounsel.com Parry Cameron has over twenty-three years experience in commercial and business litigation at both the trial and appellate levels. He

More information

EARLY CARE & EDUCATION LAW PROJECT WHAT YOU NEED TO KNOW ABOUT SMALL CLAIMS COURT

EARLY CARE & EDUCATION LAW PROJECT WHAT YOU NEED TO KNOW ABOUT SMALL CLAIMS COURT EARLY CARE & EDUCATION LAW PROJECT Publication Date: May 2010 WHAT YOU NEED TO KNOW ABOUT SMALL CLAIMS COURT In the operation of your child care business you may encounter problems which force you to go

More information

IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ALABAMA WESTERN DIVISION. v. AP No. 08-70044 MEMORANDUM OF DECISION

IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ALABAMA WESTERN DIVISION. v. AP No. 08-70044 MEMORANDUM OF DECISION Document Page 1 of 16 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ALABAMA WESTERN DIVISION IN RE: DENISE L. EVANS, Case No. 08-71204-CMS-07 Debtor. PREMIER SELF STORAGE, LLC., Plaintiff,

More information

BANKRUPTCY INFORMATION SHEET

BANKRUPTCY INFORMATION SHEET BANKRUPTCY INFORMATION SHEET BANKRUPTCY LAW IS A FEDERAL LAW. THIS SHEET GIVES YOU SOME GENERAL INFORMATION ABOUT WHAT HAPPENS IN A BANKRUPTCY CASE. THE INFORMATIONHERE IS NOT COMPLETE. YOU MAY NEED LEGAL

More information

Chicago, Illinois THURSDAY, NOVEMBER 21, 2013 (All times Central Standard Time)

Chicago, Illinois THURSDAY, NOVEMBER 21, 2013 (All times Central Standard Time) 8:30 am 8:45 am Welcome and Overview of the Program Presented by Alan Goldberg Mr. Goldberg s practice focuses on representing registered investment companies and their boards, investment advisers and

More information

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION. SOME DEBTOR, Case No. 11-99999 (Chapter ) Debtor. JUDGE [NAME OF JUDGE]

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION. SOME DEBTOR, Case No. 11-99999 (Chapter ) Debtor. JUDGE [NAME OF JUDGE] UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION IN RE: SOME DEBTOR, Case No. 11-99999 (Chapter ) Debtor. JUDGE [NAME OF JUDGE] APPLICATION TO EMPLOY [NAME OF LAW FIRM] AS SPECIAL

More information

SUSANNAH D. SABNEKAR, CPA/ABV, DABFA Sabnekar & Associates, PLLC 4321 East Rowel Road Phoenix, Arizona 85050

SUSANNAH D. SABNEKAR, CPA/ABV, DABFA Sabnekar & Associates, PLLC 4321 East Rowel Road Phoenix, Arizona 85050 SUSANNAH D. SABNEKAR, CPA/ABV, DABFA Sabnekar & Associates, PLLC 4321 East Rowel Road Phoenix, Arizona 85050 Susannah@Sabnekar.com 480-661-1749 PROFESSIONAL EXPERIENCE Susannah Sabnekar is the managing

More information

EXHIBIT A NOTICE OF PROPOSED CLASS SETTLEMENT

EXHIBIT A NOTICE OF PROPOSED CLASS SETTLEMENT Case 12-30885-hdh7 Doc 72 Filed 11/22/13 Entered 11/22/13 11:07:32 Page 15 of 27 EXHIBIT A NOTICE OF PROPOSED CLASS SETTLEMENT ALL PERSONS WHO PAID MONEY FOR A MEMBERSHIP IN LULLY S, INC. d/b/a THE RIGHT

More information

MARSHALL G. MINTZ 1801 Century Park East, Suite 2400 Los Angeles, California 90067 Telephone: (310) 556-9692 Email: mgmintz@earthlink.

MARSHALL G. MINTZ 1801 Century Park East, Suite 2400 Los Angeles, California 90067 Telephone: (310) 556-9692 Email: mgmintz@earthlink. MARSHALL G. MINTZ 1801 Century Park East, Suite 2400 90067 Telephone: (310) 556-9692 Email: mgmintz@earthlink.net 2003 - Present 2000-2003 MINTZ & BILLE (formerly known as MINTZ & WERNER) Member of general

More information

BLAKE INGLISH, CPA, ABV, CFE, CFF, CGMA Managing Director, Intellectual Property

BLAKE INGLISH, CPA, ABV, CFE, CFF, CGMA Managing Director, Intellectual Property Curriculum Vitae BLAKE INGLISH, CPA, ABV, CFE, CFF, CGMA Managing Director, Intellectual Property BERKELEY RESEARCH GROUP, LLC 902 Wright Place, Suite 200 Cornerstone Corporate Center Carlsbad, CA 92008

More information

Case 12-19882 Doc 1309 Filed 05/12/15 Entered 05/12/15 20:19:12 Desc Main Document Page 1 of 7

Case 12-19882 Doc 1309 Filed 05/12/15 Entered 05/12/15 20:19:12 Desc Main Document Page 1 of 7 Document Page 1 of 7 UNITED STATES BANKRUPTCY COURT DISTRICT OF MASSACHUSETTS EASTERN DIVISION In re: NEW ENGLAND COMPOUNDING PHARMACY, INC., Chapter 11 Case No. 12-19882-HJB Debtor. DECLARATION OF STEPHEN

More information

Berning & Heidebrecht, Ltd. Business Valuation & Litigation Support Consultants

Berning & Heidebrecht, Ltd. Business Valuation & Litigation Support Consultants Berning & Heidebrecht, Ltd. Business Valuation & Litigation Support Consultants PROFESSIONAL QUALIFICATIONS Richard C. Berning, CPA/ABV, CBA, CVA, ABAR, CFF, CMA PROFESSIONAL CREDENTIALS Certified Public

More information

A Step-by-Step Look at Chapter 11. Richard L. Wasserman Partner Venable LLP

A Step-by-Step Look at Chapter 11. Richard L. Wasserman Partner Venable LLP A Step-by-Step Look at Chapter 11 Richard L. Wasserman Partner Venable LLP Introduction Chapter 11 bankruptcy practice is a very diverse practice. One day you are a business lawyer addressing the business

More information

Red & Black: Bankruptcy and Class Actions

Red & Black: Bankruptcy and Class Actions Red & Black: Bankruptcy and Class Actions Presented by: Donna L. Culver Morris Nichols, Arsht & Tunnell LLP Marcy Hogan Greer Alexander Dubose Jefferson & Townsend LLP March 11, 2015 UPPO Presentation

More information

The Realities of U.S. Personal Bankruptcy Under Chapter 13

The Realities of U.S. Personal Bankruptcy Under Chapter 13 The Realities of U.S. Personal Bankruptcy Under Chapter 13 Hϋlya Eraslan Wenli Li Pierre-Daniel Sarte March 29, 2007 Prepared for the 2007 Federal Reserve System Community Affairs Research Conference Introduction

More information

SOUTH CAROLINA BAR. Bankruptcy and the Law

SOUTH CAROLINA BAR. Bankruptcy and the Law SOUTH CAROLINA BAR Bankruptcy and the Law There are two kinds of bankruptcy that are commonly used for individuals Chapter 7 and Chapter 13. CHAPTER 7 A Chapter 7 bankruptcy is a liquidation bankruptcy,

More information

University of Florida, Fisher School of Accounting Masters of Accountancy, 1992 Bachelor of Science, Accounting, 1990

University of Florida, Fisher School of Accounting Masters of Accountancy, 1992 Bachelor of Science, Accounting, 1990 CURRICULUM VITAE KAREN B. FORTUNE Certified Public Accountant Certified in Financial Forensics Masters of Accountancy EDUCATION University of Florida, Fisher School of Accounting Masters of Accountancy,

More information

YOUNG, MORPHIS, BACH & TAYLOR, L.L.P.

YOUNG, MORPHIS, BACH & TAYLOR, L.L.P. YOUNG, MORPHIS, BACH & TAYLOR, L.L.P. Attorneys at Law 400 Second Avenue, N.W. (28601) Post Office Drawer 2428 Hickory, North Carolina 28603-2428 Telephone: 828-322-4663 Facsimile: 828-322-2023 E-mail:

More information

CURRICULUMN VITAE. Ronald Thompkins, CPA, CGMA. TEACHING AREAS: Financial Accounting, Government/Nonprofit Accounting, Financial Decision Making

CURRICULUMN VITAE. Ronald Thompkins, CPA, CGMA. TEACHING AREAS: Financial Accounting, Government/Nonprofit Accounting, Financial Decision Making CURRICULUMN VITAE, CPA, CGMA CURRENT FACULTY POSITION: Assistant Professor of Accounting TEACHING AREAS: Financial Accounting, Government/Nonprofit Accounting, Financial Decision Making EDUCATION: June

More information

Planning Strategies for Business Owners Solutions and Advice to Make the Most of Your Success

Planning Strategies for Business Owners Solutions and Advice to Make the Most of Your Success Beal Advisory Group RBC Wealth Management Dominion Securities Presents Planning Strategies for Business Owners Solutions and Advice to Make the Most of Your Success with Special Guests Hussein Hamdani

More information

Representing Creditors in Consumer Bankruptcy Cases

Representing Creditors in Consumer Bankruptcy Cases 4 Representing Creditors in Consumer Bankruptcy Cases Michael P. Hogan Craig B. Rule Marcy J. Ford John P. Kapitan I. Overview 4.1 II. General Considerations A. Filing Proofs of Claim 4.2 B. The Automatic

More information

₁500 Market Street Centre Square West Tower, Suite 3900 Philadelphia, PA 19102

₁500 Market Street Centre Square West Tower, Suite 3900 Philadelphia, PA 19102 I have extensive experience in the private practice of law, having been a Partner and Of Counsel at several of Philadelphia's largest and most prominent law firms, including White and Williams; Hoyle,

More information

Cyrus F. Khory, Director, Froese Forensic Partners

Cyrus F. Khory, Director, Froese Forensic Partners Cyrus F. Khory, Director, Froese Forensic Partners 55 University Avenue, Suite 1000 Toronto, Ontario, M5J 2H7 CANADA direct: 416.682.7185 main: 416.364.6400 fax: 416.364.6900 email: ckhory@froeseforensic.com

More information

Bankruptcy Nuts n Bolts Faculty Biographies

Bankruptcy Nuts n Bolts Faculty Biographies Bankruptcy Nuts n Bolts Faculty Biographies Faculty Biographies Page 1 FACULTY CHAIRS GLORIA Z. NAGLER Nagler Law Group 206.224.3462 Gloria@naglerlaw.com GLORIA Z. NAGLER is the managing shareholder in

More information

UNITED STATES BANKRUPTCY COURT DISTRICT OF MINNESOTA. NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE

UNITED STATES BANKRUPTCY COURT DISTRICT OF MINNESOTA. NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE B 201 (12/08) UNITED STATES BANKRUPTCY COURT DISTRICT OF MINNESOTA NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE In accordance with 342(b) of the Bankruptcy Code, this notice to individuals

More information

NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE

NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE In accordance with 342(b) of the Bankruptcy Code, this notice to individuals with primarily consumer debts: (1) Describes briefly the services

More information

N. NEVILLE REID PARTNER

N. NEVILLE REID PARTNER N. NEVILLE REID PARTNER Neville Reid is a capital partner who co chairs the Bankruptcy, Restructuring and Creditors Rights Group at Fox, Swibel, Levin & Carroll, LLP in Chicago. He has represented a wide

More information

INITIAL CONSULTATION AGREEMENT AND ACKNOWLEDGMENT OF RECEIPT OF DISCLOSURES

INITIAL CONSULTATION AGREEMENT AND ACKNOWLEDGMENT OF RECEIPT OF DISCLOSURES 303 Williams Avenue, Park Plaza Suite 921 Huntsville, Alabama 35801 Phone:256.535.0817 Fax: 256.535.0818 Web: www.heardlaw.com INITIAL CONSULTATION AGREEMENT AND ACKNOWLEDGMENT OF RECEIPT OF DISCLOSURES

More information

Scott M. Strickler. 12505 Park Potomac Avenue 6th Floor Potomac, MD 20854. T (301) 230-6562 F (301) 230-2891 sstrickler@shulmanrogers.

Scott M. Strickler. 12505 Park Potomac Avenue 6th Floor Potomac, MD 20854. T (301) 230-6562 F (301) 230-2891 sstrickler@shulmanrogers. Scott M. Strickler 12505 Park Potomac Avenue 6th Floor Potomac, MD 20854 T (301) 230-6562 F (301) 230-2891 sstrickler@shulmanrogers.com People turn to Scott Strickler when they are facing a challenging

More information

Our mission to the public *DETERMINING VALUE * INVESTIGATING FRAUD*

Our mission to the public *DETERMINING VALUE * INVESTIGATING FRAUD* MANSOUR CONSULTING CPA FIRM 7248 BASSWOOD DRIVE WEST CHESTER, OHIO, 45069 Phone: (513) 779-4200 *Fax: (513) 779-6060 *jbmcpa@cinci.rr.com web: www.mansourcpa.com Our Company Motto Leave no client standing

More information

CHAPTER 15 OF THE U.S. BANKRUPTCY CODE: OVERVIEW OF PROCEDURES FOR CROSS BORDER INSOLVENCIES

CHAPTER 15 OF THE U.S. BANKRUPTCY CODE: OVERVIEW OF PROCEDURES FOR CROSS BORDER INSOLVENCIES CHAPTER 15 OF THE U.S. BANKRUPTCY CODE: OVERVIEW OF PROCEDURES FOR CROSS BORDER INSOLVENCIES Judith Elkin Haynes and Boone, LLP New York, New York judith.elkin@haynesboone.com CHAPTER 15 OF THE U.S. BANKRUPTCY

More information

N. NEVILLE REID PARTNER

N. NEVILLE REID PARTNER N. NEVILLE REID PARTNER Neville Reid is a capital partner who co chairs the Bankruptcy, Restructuring and Creditors Rights Group at Fox, Swibel, Levin & Carroll, LLP in Chicago. He has represented a wide

More information