Partner R. Patrick Vance gave a presentation to the National Association of Credit Management (NACM®) Midwest Industry Group on March 12, 2009. Mr. Vance discussed Chapter 11 bankruptcy updates and the types of issues that members of the Industry Group—credit managers of companies that sell pipe, fire sprinklers, and other underground utility products—can expect to encounter. Mr. Vance covered several sub-topics of Chapter 11, including:

• Bankruptcy warning signs
• Loss mitigation strategies
• Parties in a bankruptcy
• Reclamation
• Claims, agreements, and contracts
• Setoff and mutuality
• Avoidable improvement
• Preference actions

NACM® was founded in 1896 to promote good laws for sound credit, to protect businesses against fraudulent debtors, to improve the interchange of credit information, to develop better credit practices and methods, and to establish a code of ethics. NACM® members include credit and financial executives who primarily represent manufacturers, wholesalers, financial institutions, and varied service organizations. NACM® provides its members with education and research programs relating to the complex needs of credit management today.