CHICAGO, IL (PRWEB)
May 08, 2017
Many people do not understand the specialization that the legal industry has undergone in the past several decades. Just as one would not go to a dermatologist for lung cancer, one would not ask a tax attorney to defend a DUI. But the specialization goes even deeper: litigation over commercial disputes should be handled by someone with deep experience with such disputes; the best criminal defense attorney or divorce litigator is simply not the likely best choice because, among other reasons, issues tend to repeat themselves. This is not to say that once an attorney has done one “xyz case” she is an expert at all “xyz cases,” but the truth is that the expression “the practice of law” exists for good reason. This Financial Poise Webinar series explores four common litigation scenarios involving complex financial issues.
The fourth episode of the series, Defending Against “Avoidance Actions” (Register Here) airs on May 11 at 10am CST and features Moderator Erin Hollis of Marshall & Stevens. She is joined by Thad Wilson of King & Spalding, Michael Schwarzmann of Crowe Horwath, Beau Hays of Hays Potter & Martin and Gianluca Morello of Raymond James.
When a party files for bankruptcy (or has a bankruptcy filed against it), transactions it made with third parties are subject to “avoidance,” meaning that they can be undone for the benefit of all creditors. Common avoidance actions include preference lawsuits and fraudulent transfer lawsuits, the latter of which can be brought outside of bankruptcy as well. The reason preference law exists is to help assure that some creditors are not unfairly favored over other creditors. The reason fraudulent transfer law exists is to help prevent a debtor from transferring assets to a…