Learn legal strategies and best practices available for use when working with financially-troubled suppliers.
The economic ripple effects of COVID-19 have caused an increase in financial distress for many companies. When we think of financial distress, our first thought is often about customer defaults. But your suppliers' financial problems can quickly become your own, creating supply chain disruptions and saddling your business with additional costs. This topic offers proactive steps for determining if you have suppliers in distress and explains legal strategies and best practices available for use when working with financially-troubled suppliers. This material will also discuss how to prepare for the potential bankruptcy of a supplier and your potential options and rights in the case that a supplier seeks bankruptcy protection.
Jonathan E. Lauderbach
Warner Norcross + Judd LLP
- Executive partner at Warner Norcross + Judd LLP
- Focuses on commercial and bankruptcy litigation
- 26 years of experience as an attorney
- Represents creditors and creditors’ committees in Chapter 11 cases, in industries such as automotive, hospitality and lodging, wine and spirits, tool and die, and real estate
- Represents clients in both bankruptcy and non-bankruptcy supply chain disputes, in diverse industries such as automotive supply, chemical manufacturing, food processing and distribution, and construction equipment
- Negotiates and enforces accommodation agreements, forbearance agreements, loan restructurings and liquidations, and sales pursuant to the Uniform Commercial Code
- Prosecutes and defends lawsuits involving claims of fraud and fraudulent transfers, preferential transfers, non-dischargeability and the validity and priority of claims or interests
- Currently chair of the Michigan Supreme Court’s Attorney Discipline Board
- Frequent speaker on topics such as supply chain, intellectual property, fiduciary duties and corporate governance
- Served as a Circuit Judge for Midland County, Michigan prior to opening Warner’s Midland office in 2013
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