Action by ROT suppliers: effective enforcement of your claim
A supplier wishing to assert a claim to reservation or retention of title (ROT) of stock it has supplied may be faced with a real predicament on learning that a customer has gone into administration. Imagine that in the run-up to administration a supplier has problems finding someone to speak to regarding the claim. Fraught conversations with the customer’s management come to an end. The customer’s directors are told by the proposed administrators not to make concessions to suppliers or to allow stock to be handed back. The administrator’s appointment then takes effect, but by the time the supplier is fully in the picture, a sale of the business and its assets may have already taken place, leaving a new company is in possession of the supplier’s stock.
The supplier may at some stage receive a questionnaire asking for details of any ROT claim the supplier may have. However, the supplier may also be told that the administrator has reached agreement with the new owner of the business, leaving the new owner responsible for dealing with suppliers’ claims and that the supplier should contact them direct…
If you are registered and logged in to the site, click on the link below to read the rest of the Shoosmiths briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Shoosmiths
News from The Lawyer
Briefings from Shoosmiths
The Competition and Markets Authority (CMA) has invited views from the business community and consumers on the development of online reviews and endorsements.
In this article Shoosmiths takes a look at two recent cases where the Courts appear to have shifted to a more creditor-friendly approach.
Analysis from The Lawyer
Compliance and corporate governance codes for large financial institutions will undoubtedly include provisions to regulate high pay in the future
There’s more to the ABS model than attracting the man in the street and procuring external investment. Partners at the big corporate firms, take note…