Milwaukee Debtor and Creditor Lawyer » Kohner, Mann & Kailas, S.C.

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Receivables Management

Overseeing receivables management to ensure maximum recovery, minimum delay, and accurate record-keeping is a valuable, though underrated, task in business.

Collection efforts begin with a robust receivables management system. Accurate and precise records that are carefully monitored on an ongoing basis are essential to understanding how money flows within the organization and to identify problem areas. Working with our highly skilled legal advisors, with the full scope of expertise to respond to all business needs related to creditor issues, can have a significant and beneficial impact on the quality, effectiveness, and cost of creditor representation. KMK’s Collection Department attorneys offer decades of specialized knowledge and expertise in the unique discipline of receivables management to help businesses put into place the processes and procedures that impact the bottom line today, tomorrow, and years to come.

Common areas of consultation include:

Credit applications and invoice forms and procedures;
Protection and liquidation of commercial accounts receivables;
Standard terms and conditions and procedures for their utilization;
Distributor and supplier agreements;
Promissory notes;
Corporate and personal guarantees;
Best practices in electronic contracts and e-commerce;
Collateralization of account balances to secure past, present and/or future debts;
Designing an efficient program for in-house commercial collections efforts, and pairing it successfully without the efforts of outside counsel when in-house collection is unsuccessful;
Navigating venue and alternative dispute resolution provisions to minimize cost and avoid collateral litigation;
Workout services ranging from implementing arrangements for the liquidation of the account balance and termination of the customer account to implementing arrangements to enable the client to reduce credit exposure while continuing to sell goods or services to the customer; and
Pre-bankruptcy or pre-receivership planning to put the account into a posture to reduce the account balance and minimize exposure to avoidable preference or other avoidance claims.

Bankruptcy

Bankruptcy and other defaults impact the rights of creditors in a nuanced way.

The filing of a bankruptcy petition automatically affords special protections and requirements to debtors that complicate the actions a creditor may take when enforcing its rights. KMK’s Business & Financial Services Group attorneys offer a wide array of creditors’ rights and bankruptcy experience and services to help our clients navigate the intricate civil and bankruptcy procedures. Our attorneys listen to our clients’ concerns, evaluate the overall situation, and recommend the best course of action based on our clients’ desires, while advising on the strengths and weaknesses of the course of action. We have systems in place designed to flag mandatory timelines and identify nuances in the judicial system, such as esoteric local rules and changes of personnel, as well as common impediments to state and federal proceedings. Most importantly, our case management system is regularly reviewed and evaluated to determine new opportunities for technological and business process enhancement. Our objective is to stay on the cutting-edge of technological capability. Lastly, we have a team of attorneys Board Certified in Business Bankruptcy Law and Creditors’ Rights Law by the American Board of Certification. Many are currently designated as Wisconsin “Super Lawyers” by Super Lawyer Magazine and “Best Lawyers in America” by U.S. News and World Report in Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. Time is money. We look forward to demonstrating how any business can benefit from our extensive understanding of creditors’ rights.