Are You a Supplier to an Insolvent Company? Here’s What to Do
According to Federico de Noriega, Partner, Hogan Lovells, if you are a supplier to an insolvent company in Mexico there are many areas of concern.
Like what can you the supplier do during an insolvency? Will you be paid? Are you required to continue supplying? In this case, if you are a supplier in Mexico, you can contact the conciliator to check the status of the contract. Next to continue being paid during the proceedings, consider being listed as an essential supplier.
As a supplier to an insolvent debtor, you should get involved during the proceeding to safe guard your interest.
What are your thoughts? If you faced a similar situation what steps did you take to protect your company? Share your thoughts, experiences and feedback with your credit community.