While scanning the news headlines I came across an interesting title –"New York or bust: what happened to Lehman's business travelers?".

As Lehman Brothers is the next one (and the last I hope) to close the door, this article highlights the question that if your company goes bust while you are traveling, who pays your hotel bill?

I am sure that the corporate credit card will not work anymore, so the hotel will definitely ask for a security deposit. Then the traveler has to cough up the cash him/herself or most probably flip out their own personal credit card, which can be risky business.

Quoted in the Times Online;

Ian Skuse at travel law specialists Piper Smith Watton, says: "If the corporate made the booking and the hotel had to look to the failed corporate for payment, I'm sure most hotels would demand a card imprint from the individual as security for payment. I think it would be practically difficult for the individual traveller to demand that the hotel honour its agreement with the corporate - when it knows it will not be paid."

Nigel Turner, director of public sector and industry affairs at travel management company Carlson Wagonlit, said: 'The implications for business travellers should they be away on business in the event of financial difficulties would depend entirely on the individual circumstances of the business in question.

"The majority of business travellers would travel with a return air ticket paid for in advance, and would be able to come home without incurring personal cost or difficulty. Employees should take advice from the administrators or their own company regarding additional expenses."

There will be several traveler getting cold feet as we speak and will either shorten the trip or if they haven't left, postpone it to a later date when the direction is clearer.

Apparently, last week the Lehman employees topped up their meal cards only slightly, just in case… I would do the same!

To read more on this subject, read this great article by Mark Frary by visiting the link below:

www.timesonline.co.uk/tol/travel/business/article4768407.ece