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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