Topic: 

Y2K DISASTER: 
WHAT TO PREPARE 
FOR 

by: 

Y2K Team 
Chan Robles 
Law Firm 
 

 

Chan Robles has a different view of the Year 2000 debacle now commonly described as Y2K.  

Many experts are advancing the view that the wheels of industry and commerce will suddenly grind to a complete halt by January 1, 2000, resulting in a worst worldwide recession costing about US$1 trillion.  Still many quarters predict that the legal profession will benefit most from this unfortunate scenario.  

It is opined, however, that all the foregoing grim prognostication may not necessarily occur if the players will implement, at this early, a planned and reasoned approach to solving it.  Appropriate legal guidance is necessary in order to make the problem manageable and less costly.  

Chan Robles has prepared for this eventuality in its own technology system.  Its Y2K Team, in consultation with its IT consultants, has been studying the legal aspects of the Millennium Bug and is in a position to give appropriate advice on many of its baffling aspects.  The problem, being far-reaching and wide-ranging in its implications, should be seriously looked into and clients should sharply focus its attention on the Bug's adverse implications on the following major areas of concern:   

Trade Secrets and Intellectual Property   
Litigation   
Mergers and Acquisitions   
Taxation   
Insurance    
Labor and Employment 

A legal audit should, in our view, be immediately and seasonably taken by management on the following:  

Liabilities of Officers and Directors  
Management of Risk Exposure  
Analysis of Warranty and Indemnity Contracts

Preparing early for the most tragic technological disaster absolutely certain to occur on the very first day of the 21st century is the most prudent approach one should take.   

We shall keep you posted on the latest Y2K developments in the Philippines and worldwide on this page and in our subsequent articles.

Contact Chan Robles for further information via mail  or e-mail .