The following issues can arise when either a producer or his UK agent/distributor becomes insolvent.
Does our agreement - or joint venture - terminate?
Not necessarily. If there is a written contract, it will usually spell out what the position will be if either party becomes insolvent. If there isn't, it will be a question of whether the other party is realistically in a position to continue performing its obligations under the contract, and/or complain if the solvent party simply brings the contract to an end. See repudiation.
Can the liquidator or administrator transfer the contract to a third party?
Again, it first depends on whether .........
Please do not hesitate to contact us if you have a specific query.