Session held on 7th April 2022

About this session

What to do if your supplier goes bust or is technically insolvent (VIRTUAL)

The sad reality of the current pandemic, after the human cost, is the economic cost to so many – including suppliers.

Many suppliers will be facing insolvency, administration or even liquidation … but what is the difference between the three?

Can you still trade with them? What if you have part-finished work in progress or have sunk stage payments? How strong is your contract with them? Where is the true risk?

The federal government have announced relaxations of company law to try and ensure some suppliers can limp on – what does this mean in reality though?

How will it help you? And what are the longer term consequences for your supply line? And the real risk buying from technically insolvent suppliers?

Your expert facilitator:

Ben van de Beld is a Queensland-based Partner with Aspect Legal and he heads up the Commercial team. Ben has been practicing law for 15+ years (seven of which as a Barrister) and knows a thing or two about commercial law and running a business generally as, prior to moving to the law, he built a start-up manufacturing company to an $8 million annual turnover business with 75 staff. In light of this, Ben is ideally placed to understand the highs and lows of running a business that our clients face on a daily basis.

His legal experience, gained at the Queensland Bar, working for firms, as well as a number of years as in-house legal counsel for two large multinationals, spans across a wide range of both litigious and non-litigious matters involving business and share sale and acquisitions, corporate, commercial, bankruptcy and insolvency, competition and consumer law, property, insurance, defamation, intellectual property, employment and general business law. In addition, as a Barrister, Ben appeared on behalf of clients as Counsel in trials and hearings in the various Courts and at mediations.

When he isn’t assisting our clients with their legal needs, Ben spends his spare time with his wife, teenage son and his Collie Rough (think Lassie) and Standard Poodle. He enjoys restoring the family’s 1911 built Queenslander home, walking, reading, mountain biking, and (most importantly) going to Brisbane Roar matches with his other (not so teenage) son.

Ben is joined today by Jelena Milanovic.  A number of pre-submitted questions fed directly into Jelena’s specialty – procurement and construction contracts.