Automotive Insiders host Jason Stein interviews Warner Norcross + Judd Partner Dennis Loughlin in Part II of the podcast about automotive industry disruptions. In this podcast, Dennis addresses accommodation agreements, bankruptcies and other insolvency scenarios plaguing automotive suppliers. Some of these issues were paused due to the influx of Paycheck Protection Program Loan money during the COVID-19 pandemic, but are now being brought to light with suppliers looking for more aggressive tactics to keep their doors open. Dennis comments that the industry is experiencing a large amount of distress right now, after a 15-year boom, and it is pushing some suppliers over the edge. So what is the solution? Dennis provides helpful tactics for suppliers who are dealing with distressed supply chain issues – including reviewing OEM contracts and other legal options that can provide relief to suppliers.
To watch the video on Spotify, click here.
For more information on supply chain issues impacting automotive suppliers, please contact Dennis Loughlin or a member of Warner’s Automotive Industry Group or the Bankruptcy, Restructuring and Insolvency Practice Group.