A trio of McCleskey attorneys were honored to speak to the West Texas Bankruptcy Bar Association on January 31 about creditor issues in bankruptcy. The team of Tommy Swann, John Shanklin, and Jennifer Workman discussed the challenges creditors face in bankruptcy proceedings, specifically with regard to preferential and fraudulent transfers.

Mr. Swann, a lawyer with more than 30 years’ experience in creditor rights and bankruptcy, explained what the bankruptcy process looks like from a creditor’s point-of-view. He also explained the difficulty creditors have in protecting themselves from fraudulent transfers.

Mr. Shanklin provided a synopsis of “new value” in the context of preferences, and also who may be liable for a preferential or fraudulent transfer according to the courts’ interpretation of the Bankruptcy Code.

Ms. Workman rounded out the discussion with an overview of the ordinary course of business exception to an otherwise preferential transfer.