The coronavirus pandemic facing our country presents many new challenges for businesses that have been shut down or limited in their ability to operate. As states and governments begin the process of re-opening and phasing in operations, companies must take the opportunity to revisit core business operations and contracts to ascertain their obligations as well as those of customers and suppliers. During this crisis, the attorneys in the McDonald Hopkins Business Litigation Practice Group have worked with companies to evaluate and prepare their operations in the context of the new and changing obligations and to maintain the financial viability of their companies.
As companies are making plans to restart their businesses, the McDonald Hopkins Business Litigation attorneys will continue to counsel and advise employers on important business issues, including:
- Knowing their “terms & conditions,” both those that apply to their suppliers and those under which they provide goods and services to customers. It will be critical to understand payment terms, ability for set-off, timeliness of payment, and production requirements (100%, life of the program, etc. and what do those mean in the new landscape).
- Restrictive covenants will likely be in play as there will undoubtedly be transition among the work force, in the highly-skilled, highly-compensated and sales force ranks. Understanding what restrictions are in place, and their enforceability under applicable state laws, for competition and solicitation is key to protecting your work force and expanding your position in the market.
- The application of force majeure clauses will likely be a key factor in contractual obligations and commitments for both customers and suppliers; understanding the application and enforceability of such provisions is a necessity.
- Exploring opportunities for recoupment of loss, through government loan programs, insurance claims, or other means may be critical to continued financial viability.
- Understanding the industry and what developments and opportunities may exist; McDonald Hopkins has a long history of advising and counseling the Midwest manufacturing base in all industry segments, including automotive, aerospace, and construction.
The services provided by attorneys in the McDonald Hopkins Business Litigation Practice Group go well beyond the representation of client disputes in lawsuits and arbitrations. Our attorneys have a deep and diversified knowledge base to provide analysis and advice that is proactive and designed to avoid litigation disputes, preserve liquidity, and limit the financial impact of inevitable business disagreements. We have been through severe economic cycles before and remain poised to assist and advise as we emerge from the latest economic challenge.
- Michael G. Latiff