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The Basics of Collections & Bankruptcy in the Oil & Gas Industry

Event Description and Agenda:

The purpose of this webinar is to outline the billing and collection process from a legal perspective, with the goal being that attendees will be better able to structure their billing and collection processes to enhance the likelihood of complete and timely payment for goods and services provided. This webinar will also focus on the best practices to maximize the likelihood of payment from "economically distressed" clients who may or may not be on the verge of bankruptcy. There will also be a general discussion on the bankruptcy process from the creditor (e.g. unpaid service or goods provider) perspective.

  • Overview of the billing & collection process from a legal perspective
  • Written service contracts
  • Monthly invoices
  • Checking receivables
  • Perfecting your liens when a bill becomes "stale"
  • Litigation and notices of lis pendens
  • The 90 days rule on bankruptcy filing
  • Uh, oh - bankruptcy: How to deal when a company who owes you money goes bankrupt
  • Unpaid goods & services: Secured get paid; unsecured may not get paid
  • Filing that Proof of Claim
  • Grip it and rip it
  • Bottom line
    • Document, document, document
    • Use the tools available to you
    • Don't let bills become stale

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