Credit Transactions and Creditor Recoveries

Affinity aids clients in negotiating and structuring sales or purchases of goods on credit, as well as lines of credit, term loans, and other financing.

Affinity handles debt collection for businesses and financial institutions including through Uniform Commercial Code Article 9 sales and receiverships under state law. Knowledge of Uniform Commercial Code remedies, including reclamation rights, secured party sales and stoppage in transit; and the Bankruptcy Code is brought to bear in achieving results.

Affinity defends actions by debtors or trustees in bankruptcy to recover “preferential transfers” to creditors. We offer creative alternatives to hourly billing that fix risk and eliminate contingent liability from balance sheets.

Illustrative representations include:

  • Representation of large creditor/shareholder group in blocking Chapter 11 debtor’s proposed sale of assets to stalking horse bidder at an insufficient price and causing an auction sale resulting in a price 3.5 times the stalking horse bid.
  • Representation of large pharmaceutical manufacturer in Chapter 11 case of distributor wherein a manufacturer received priority claim pursuant to the Uniform Commercial Code that no other creditor received.
  • Numerous varied representations of the former Southwest Bank, including Uniform Commercial Code secured party sales, suits on notes and guarantees, bankruptcy litigation, and forbearance agreements.

Affinity Law Group attorney with this focus area:

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Tal Sant