Preserving Financial Health
The collapse of Carillion will undoubtedly affect not only its own employees and shareholders but a number of other companies further down the supply chain. The loss of a large corporate entity such as Carillion provides us all with an opportunity to reflect on our own corporate financial health and in particular that of those with whom we are in close a contractual relationship. Set out below are a number of considerations around this topic. If any of these are keeping you awake at night call us for advice and support:
· A debt owed by a third party that has been outstanding for some time with no genuine reason for delayed payment;
· A debt owed to you by a business in the Carillion supply chain;
· Issues concerning Retention of Title where goods you have supplied are on site (at a third parties premises etc.) but payment remains outstanding;
· The desire to re-negotiate the terms of an unprofitable contract;
· Advice on protecting your position in the event of the insolvency or likely insolvency of a company in a supply chain with which you are involved.
Posted on 02/06/2018 by Ortolan
