Forensic Files – Credit Professionals’ Edition Case Studies for Catching and Evading Dangerous Customers

Presenters: Buce Nathan, Michael Papandrea, and Andrew Behlmann. Lowenstein Sandler LLP

2025 saw financial distress and restructuring activity continue at a frenzied pace, with both out-of-court refinancing transactions and chapter 11 filings exploding. By the end of the year, commercial chapter 11 filings in 2025 outpaced every year since 2010, the tail end of the global financial crisis. None of these filings should have surprised astute credit professionals who were paying attention. This program helps credit professionals think like investigators, using case studies of three companies that filed bankruptcy in 2025: Ascend Performance Materials, Klockner Pentaplast, and First Brands Group. The speakers will dissect the factors that led to each bankruptcy filing, then review clues that were readily visible long before the subject companies ever set foot in a bankruptcy court. The speakers will also discuss the unique characteristics of First Brands Group as a fraud case. Using the clues gleaned from the case studies, the presenters will help credit professionals build rapid response playbooks—tightening terms, securing assurances, deploying UCC tools, and dealing with potential preference liability—to help pivot from detection to protection with confidence and control.

It’s time to gear up for our annual Legal Symposium!

The Legal Symposium is 100% Virtual.

The Details

• Dates: March 19
• Time: 10:00 AM – 11:00 AM CT
• Format: Zoom
• Duration: 1 Hour per session

If you have questions, please contact Bob Rabe at bob.rabe@nacmconnect.org