The Bernstein Law Firm Preference Defense Team

The Bernstein Law Firm Preference Defense Team was created in response to the marked increase in claims for preferential transfers being filed in connection with bankruptcy cases. Over the last few years, our clients have been deluged with demands for return of payments made by their bankrupt debtor customers. We saw a need to create a cost-efficient nationwide defense to these claims and the Preference Defense Team was born!

PREFERENCE DEFENSE TEAM

Bob Bernstein : Bob is Managing Partner of the firm. A seasoned creditors' rights and bankruptcy attorney, Bob has achieved the rare distinction of being Certified in both Creditors' Rights and Business Bankruptcy by the American Board of Certification. He has served as President of the Commercial Law League of America, North America's oldest Creditors' Rights organization, and is an active member of the Allegheny County Bar Association, where he has served as Chairman of the Bankruptcy and Commercial Law Section as well as several other creditor's rights and bankruptcy and technology-related committees. He is also a member of the state bars of Pennsylvania, Florida, West Virginia, and New York. In overseeing the firm's bankruptcy practice, Bob has been involved in countless preference actions and defenses.

Kirk B. Burkley : Kirk is the supervising partner of the firm’s Bankruptcy and Restructuring practice group. The Bankruptcy and Restructuring group handles bankruptcy cases nationwide and acts as an efficient clearinghouse and one-stop shop for our clients’ bankruptcy and restructuring needs. Kirk is experienced in representing secured and unsecured creditors in bankruptcy, financial restructuring and workout situations, including the representation of numerous unsecured creditors’ committees, equipment lessors, and commercial landlords.

Jillian Nolan : Prior to joining Bernstein law firm, Jillian worked as an associate primarily in the areas of complex commercial litigation and residential/commercial real estate transactions at firms in Erie, Pittsburgh and Washington D.C. In addition to her firm work, she clerked for the honorable Judge Shad Connelly, Pennsylvania Court of Common Pleas, Erie County.

RECENT VICTORIES

While past cases are not a guarantee or indicator of future success, the Bernstein Law Firm Preference Defense Team's recent victories include:

• A $66,000 claim dismissed with no payment. Legal costs to client $2,600.
  

• A $103,000 claim dismissed with no payment. Legal costs to client $1,800.
  

• A $25,000 claim dismissed with no payment. Legal costs to client $700.
  

• A $200,000 claim settled by withdrawal of client's unsecured claim. Legal costs to client $2,500.
  

• A $392,000 claim settled by client giving up the first $50,000 distributed from the case. Legal costs to client $6,000.

• A claim where the total preference exposure was $35,437.78. I was able to keep the debtor from filing the preference complaint and convinced the Debtor that the Creditor had no preference liability. The cost was very minimal to the client about $2,000.00.

• A claim where the total preference exposure was $151,936.70. I was able to negotiate a deal with the Debtor and Creditor Committee counsel and an Order was entered shielding the Creditor from any preference liability. The total cost to the client was approximately $5,500.00.

• A claim filed for $180,000 settled for $5,000.

• A claim filed for $22,000 settled for $4,000;

• A claim filed for $18,000 settled for $1,700;

• A claim filed for $32,000 and settled for $1,500;

• A claim filed $15,712 but was dismissed, $0 paid by client (with waiver of unsecured claim)

Articles

• UNDERSTANDING PREFERENCE ACTIONS UNTER THE BANKRUPTCY CODE

• DEFENDING PREFERENCE ACTIONS: CONTEMPORANEOUS EXCHANGE FOR NEW VALUE

• DEFENDING PREFERENCE ACTIONS: ORDINARY COURSE OF BUSINESS

• DEFENDING PREFERENCE ACTIONS: PURCHASE MONEY SECURITY INTEREST TRANSFERS

• DEFENDING PREFERENCE ACTIONS: TRANSFERS FOR SUBSEQUENT NEW VALUE

• DEFENDING PREFERENCE ACTIONS: SECURITY INTERESTS IN INVENTORY OR RECEIVABLES

• DEFENDING PREFERENCE ACTIONS: STATUTORY LIENS

• DEFENDING AGAINST PREFERENCE ACTIONS: THE DOMESTIC SUPPORT OBLIGATION EXCEPTION

Contact

Bernstein Law Firm Preference Defense Team
Ph 877-656-8117

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