Oil and gas companies are doing their best to weather the downturn, but the unfortunate reality is that not every company will survive. Contractors and other oilfield companies providing services or equipment to operators that are filing for bankruptcy or restructuring may find themselves uncertain how to proceed. In this video from the 2016 IADC Contracts and Risk Management Conference in Houston on 11 October, Philip Eisenberg, Partner at Locke Lord, explains how companies can protect themselves and receive payment if a customer files for bankruptcy. He also outlines considerations companies should keep in mind when working with a customer going through bankruptcy proceedings.
