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Corporate

Oct. 19, 2011

Suppliers are not banks: What to do when companies refuse to pay their bills

The fight against large companies engaged in abusive trade practices. By Richard G. Reinis of Steptoe & Johnson LLP


One of the liveliest topics discussed during my speeches to CEOs is whether or not a business operates its accounts payable department as a profit center. Over the years, I've had to deal with companies that refused to pay for goods or services within the allotted dating or trade terms, some of them too big to flail.


How might a commercial lawyer counsel his client in dealing with such a customer? While not unique to big box retailers, the practice has been ...

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