Although credit professionals primarily focus on customer credit risk, they are also now turning increased attention toward address supplier credit risk. In this program, the speakers will first discuss the early warning signs that a customer or supplier is approaching (or in) financial distress and the sources of information to help identify and assess those warning signs. The speakers will then focus on the need for trade creditors to review their existing contracts with customers and suppliers—before distress happens—and address any issues that could result in the loss of protections provided by their agreements and otherwise impact creditors in the event of a customer’s or supplier’s bankruptcy. The speakers will then highlight the available tools that, if properly used, can help credit professionals mitigate the risk of loss in bankruptcy, such as letters of credit, guarantees, performance bonds, materialman's liens and construction/builders trust funds, consignment arrangements, purchase money security interests, setoff and recoupment rights, credit insurance, receivable put options, and standby commitments. Finally, the speakers will discuss the benefits of enforcing Uniform Commercial Code remedies, such as stoppage of delivery and adequate assurance rights.
Speakers:
- Andrew Behlmann, Partner, Lowenstein Sandler LLP
- Bruce S. Nathan, Partner, Lowenstein Sandler LLP
- Michael Papandrea, Counsel, Lowenstein Sandler LLP
Time: 3 p.m. ET
*This event is open to the public but requires a registration fee.
