Companies need to act now to ensure they are prepared in the event of a trading partner becoming insolvent, Norton Rose litigation partner Radford Goodman has warned, in the sixth of a series of legalweek.com videos on crisis management.

Speaking in the latest episode of Legal Week Crisis Management Q&A in association with Norton Rose, Goodman warns that with corporate failures set to increase significantly during 2009, companies may find themselves heavily hit by the insolvency of a supplier.