General Business Construction Bankruptcy

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The Big “B” – Bankruptcy on the Construction Project

It’s not often that I find myself in bankruptcy court, but there I was. A lone construction attorney surrounded by bankruptcy lawyers speaking in a foreign tongue – “cram down!,” “cash collateral!,” “executory...more

Illinois Supreme Court to Decide Who Pays When the General Contractor Goes Bust

Today, as we await the start of the Court’s November term, we begin our first look previews at the most recent additions to the Court’s civil docket. First up is Lake County Grading Company, LLC v. The Village of Antioch, a...more

Mechanics Lien Rights: Use ‘Em or Lose ‘Em

An important new case regarding New Hampshire Mechanics Lien Law has application for contractors in all states and reminds the industry of how painful uncollectible debts can be. In Moultonborough Hotel Group decided on July...more

Contractors And Suppliers’ Defenses To Bankruptcy Preference Claims

Bankruptcy preference claims are always an unpleasant surprise. ...more

Weathering The Storm Of An Owner Or General Contractor Bankruptcy

Bankruptcy court is often the “court of bad news” for creditors. ...more

Relevant Factors When Considering an Application to Appoint a Receiver

In Kasten Energy Inc. v. Shamrock Oil & Gas Ltd., 2013 ABQB 63, the Alberta Court of Queen’s Bench considered the application of Kasten Energy Inc. (“Kasten”) to appoint a receiver over all of the assets and undertakings of...more

Mississippi District Court Defers to New York Court in Bond Action

The United States District Court for the Northern District of Mississippi denied the motion of defendant ACA Financial Guaranty Corporation (ACA) to dismiss a class action complaint, finding that the issues were previously...more

Your Last Resort: The Unpaid Account

A suit on an unpaid account against your customer will likely entitle you to the principal balance plus interest and attorney fees. But a suit on an unpaid account is only as good as your customer’s ability to satisfy the...more

TRANSACTIONAL: Bankruptcy: Contractor Insolvency Issues in Large Project Transactions

An issue that is often overlooked, but should be considered in the context of large project transactions, is the potential insolvency of contractors and subcontractors. A bankruptcy proceeding involving a key contractor can...more

Suppliers Must Take Affirmative Steps to Determine Source of Payments to Protect Construction Lien Claim Rights

In L&W Supply Corp. v. Joe DeSilva, et al., (Docket No. A-2960-10T2, December 19, 2012) (“L&W Supply”), a decision recently approved for publication, the Appellate Division provides guidance to material suppliers seeking to...more

Commercial Restructuring & Bankruptcy Alert - June 2012

In this issue: - Construction Lenders Beware - Supreme Court Upholds Secured Creditor’s Right to Credit Bid in a Bankruptcy Case - Jointly Administered Plans Must Obtain Impaired Class Approval ‘Per Debtor’...more

What if Your Insurer Goes Bankrupt and No One Tells You? Perspectives on Insurance Recovery Newsletter - Summer 2012

"Does an insurance broker, after procuring an insurance policy for a developer on a construction project, owe a duty to apprise a subcontractor that was later added as an insured under that policy of the insurance company's...more

Massachusetts Appeals Court Invalidates Mechanic's Liens Against Condo Common Areas

A Massachusetts Appeals Court decision last month portends far-ranging implications for the construction industry. The court ruled that a subcontractor's mechanic's lien filed against the common areas of a condominium was...more

How To Minimize Construction Default Consequences

The abandoned construction project can present a nightmare for a property owner. This article details precautions an owner can take pre-construction to minimize the consequences of a failed project....more

Involuntary Bankruptcy as a Collection Tool

Although the tactic does not receive much publicity, the filing of an involuntary bankruptcy petition against a business debtor can be an effective collection tool under the right circumstances. Learn the requirements and...more

Recent Rulings by Bankruptcy Judges have Affected Chapter44A Lien Rights

By William C. Smith, Partner at Manning Fulton & Skinner, P.A. Collections have never been as important — or as challenging — as now. North Carolina construction industry vendors have long held an advantage over other...more

The Tousa, Inc. Bankruptcy Decision: Anatomy And Implications Of A Landmark Creditors’ Rights Case

I. INTRODUCTION A landmark Bankruptcy Court case involving TOUSA, Inc. (“TOUSA”), a Florida-based homebuilder, and several well-known banks, including, among many others, Citicorp North America, Inc. (“Citicorp”) and...more

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