AuthorDavid J. Cook
Introduction: Insolvency Is a
Settled Expectation
Find What You Need Quickly
The mantra of every attorney, business person, financial professional, col-
lection agent, and banker is “What do I need to know?” Without an attorney
who cycles through insolvencies as a part of a practice, quickly assessing
the filing or other requirement for many professionals is burdensome.
This is the “Tell Me What I Need to Know” book. It is organized into two
major sections.
The first section is a general discussion of insolvency and the
requirements that are common in each type of proceedings. Every
insolvency proceeding has its own claim requirements, distribution
procedures, risk of claim objections, and nuances that must be tack-
led. This first section offers a general overview to enable the reader
to better eyeball what is truly important.
The second section looks at each type of insolvency. The headings
of each section provide the step by step overview.
Given each type of insolvency is a standalone process, the reader can
quickly find the section relevant to his or her needs, as opposed to wading,
page by page and chapter by chapter, through an entire tome. When faced
with a bankruptcy—whether as a creditor or as a debtor—the reader wants
to quickly learn the law of bankruptcy and, just as importantly, ignore the
law of bulk transfers, although it is highly entertaining.
Following the opening section of each topic is a discussion of the key
touchstones of each proceeding. Few practitioners care about fee applica-
tions in bankruptcy court, which is certainly a more important topic for
fee applicants. However, sales orders are important in bankruptcy, as we
learn in the General Motors case (the ignition switch case). On the other
hand, every practitioner becomes immersed in timely filing a proof of claim,
complying with the automatic stay, and learning how to defend a preference
lawsuit (in bankruptcy court). These topics of discussion are the hit parade.
The unbendable rule, whether you wish to plaster it on a T-shirt, carve
it in the marble mantle of the court, or offer it in a Chinese fortune cookie,
coo55639__00_fm_i-x.indd 7 11/22/16 2:09 PM

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT