Stephen Falanga Speaks on Managing Corporate Bankruptcies at

American Institute of Certified Public Accountants (AICPA)

National CFO Conference

 

ROSELAND, N.J., June 22, 2010 --- Connell Foley partner Stephen V. Falanga delivered a presentation titled “Bankruptcy 101 — Common Issues, Risks, and Defenses for Dealing with Corporate Bankruptcy” at the American Institute of Certified Public Accountants (AICPA) National CFO Conference held on May 13-14, 2010, at Hilton La Jolla Torrey Pines, La Jolla, CA.

 

Falanga’s session provided a general overview to CFOs of the Bankruptcy Code

and chapters 7 and 11, including a brief history behind the Code and its use as corporate tool for debt adjustment.  Issues relating to the automatic stay, its reach and when it can be vacated were discussed as well as the concept and elements

of a preference action and its defenses, including risk management.  In addition, Falanga reviewed the effects of bankruptcy on contracts and leases.  Finally, a summary of plans of reorganization and the plan process from filing through confirmation was also explained.

 

Falanga  heads the firm’s Bankruptcy, Reorganization and Creditor’s Rights practice group. With more then 17 years experience, he represents corporations, insurance companies, financial institutions, real estate developers, and landlords as well as individuals in all aspects of commercial law and finance.

 

For more information, please contact Mr. Falanga at (973) 535-0500 or sfalanga@connellfoley.com.

 

The American Institute of Certified Public Accountants (AICPA) is the national, professional association of Certified Public Accountants in the United States, with more than 330,000 members, including accountants in business and industry, public practice, government, and education; student affiliates; and international associates.  It sets ethical standards for the profession and U.S. auditing standards for audits of private companies; federal, state and local governments; and non-profit organizations.