Monday,April 21 3:00 - 4:00pm eastern

Structuring Letters of Credit That Won’t Leave You Stranded in a Customer Bankruptcy
Presenter: Robert Mercer, Esq.

Description:
Given the downturn in the economy, credit professionals are justifiably becoming more and more concerned about customer bankruptcies. Although letters of credit can help ensure payment for your company if a customer files bankruptcy, a letter of credit is only as good as it is drafted. This engaging seminar will give you practical information to help you ensure that your company’s letters of credit are properly drafted. By listening, you will learn the following pointers: (i) placing the bankruptcy default provision in the correct place; (ii) structuring the relationship with the issuing bank to help reduce preference exposure; (iii) removing provisions that will hurt the effectiveness of the letter of credit; (iv) ensuring the appropriate length of the term of the letter of credit; and (v) obtaining the letter of credit at the best time to reduce preference exposure.

Bio:
Robert M.D. Mercer is a partner in the Atlanta office of the law firm of Powell Goldstein, LLP where he practices in the Bankruptcy & Financial Restructuring Group. Mr. Mercer has represented unsecured creditors’ committees in chapter 11 bankruptcies and trade creditors around the country both inside and outside of bankruptcy.  He regularly speaks and writes on issues of concern to credit professionals.  Mr. Mercer has been selected as a Georgia Rising Star in Bankruptcy Law by Law & Politics and the Atlanta Magazine.