Supply Chain Rights and Remedies Under the UCC: Adequate Assurance, Stoppage of Delivery, Reclamation in Bankruptcy
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will examine the remedies available to suppliers who have delivered or are delivering goods to financially distressed buyers in the supply chain. The panel will discuss the rights and remedies available under Article 2 of the Uniform Commercial Code (UCC), and steps to take if the buyer files for bankruptcy.
- UCC Article 2 and delivery of goods in the supply chain
- Adequate assurance and "reasonable grounds for insecurity"
- Stoppage of delivery of goods in transit
- Exercising UCC remedies in the current environment
The panel will review these and other key issues:
- What constitutes reasonable grounds for insecurity as well as adequate assurance under Article 2?
- What are the notice requirements to stop delivery? Why is timing so critical?
- How should a supplier exercise its right of reclamation after a purchaser has filed for bankruptcy?
Mr. Ott is an attorney in Ice Miller’s Bankruptcy and Financial Restructuring Practice, where he counsels banks,... | Read More
Mr. Ott is an attorney in Ice Miller’s Bankruptcy and Financial Restructuring Practice, where he counsels banks, financial institutions and other creditors in distressed situations. He is experienced in all aspects of the workout, restructuring and bankruptcy process, providing clients with thorough analysis and creative solutions.Close
Jason M. Torf
Mr. Torf is a partner in Ice Miller’s Bankruptcy and Financial Restructuring Group. He focuses his practice on... | Read More
Mr. Torf is a partner in Ice Miller’s Bankruptcy and Financial Restructuring Group. He focuses his practice on helping companies dealing with financially troubled customers and other counterparties to maximize their recovery and minimize their risk.Close