The Murky Waters of Shipping Insolvencies: Issues to Consider for Texas Businesses that Purchase Goods From Overseas

Gardere attorney Thomas C. Scannell and former attorney Nicole L. Hay, associates of the firm’s financial restructuring and reorganization practice group, co-authored an article for Texas Lawyer on shipping insolvencies and the issues to consider for Texas businesses that purchase goods from overseas.

“Now is an uncertain time for Texas companies that do business with the shipping industry as trade deals are renegotiated, and the shipping industry continues to rank in the top of most lists for industries likely to face insolvency,” write Scannell and Hay. “In light of this likelihood, Texas businesses and their attorneys should be aware of legal and practical issues that may arise in the event of a shipping insolvency. Two particularly murky areas that have been illuminated by recent case law are maritime liens and reclamation rights.”

Subscribers can read the full article here.