Practice Areas
Remedies When the Customer or Supplier Defaults
Dealing with the Financially Distressed Customer or Supplier: A Practice Strategies for Down Economy Series
July 1, 2009
Co-presenter
Plymouth, MI
Sponsor: ICLE Partnership Seminar co-sponsored by the Business Law Section of the State Bar of Michigan
Are your clients worried that customers won't pay? Suppliers won't deliver? Do they ask what to do if a key customer files Chapter 11? Learn the best techniques to protect against default, avoid being caught in the preference sweep, and what to advise when a customer or supplier files Chapter 11.
Remedies When the Customer or Supplier Defaults
- adequate assurance of future performance
- reclamation
- stopping performance
- imposing COD/CIA terms
Judy B. Calton Honigman Miller Schwartz and Cohn LLP; Detroit
Rozanne M. Giunta Lambert Leser Isackson Cook & Giunta PC; Bay City