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Inside: Payment plan preference exposure under the Bankruptcy Code

A “bird in the hand” might later “clawback” if precautions aren’t taken

The bad news: You have a slow-paying customer who has run up a large amount of debt.

The good news: You negotiated a payment plan, and payments are beginning to arrive.

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Kevin G. Schneider

Kevin G. Schneider is a bankruptcy attorney at Neal, Gerber & Eisenberg LLP (Chicago). He assists clients on a range of insolvency matters....

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