Bankruptcy

Read Construction Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

News & Analysis as of May 22, 2013

Mississippi District Court Defers to New York Court in Bond Action

by Bruce Sabados, Allison Wuertz | Katten Muchin Rosenman LLP on 5/21/2013

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

by Joe Virene | Looper Reed & McGraw, P.C. on 4/29/2013

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

Bankruptcy Court Delivers Next Chapter In Developing Law Regarding Post-Petition Lien Perfection By Subcontractors

by Poyner Spruill LLP on 4/17/2012

In a prior alert (Subcontractors and Suppliers Win Support for Lien Perfection During North Carolina Bankruptcies) we told you about the order from the United States District Court for the Eastern District of North Carolina...more

Subcontractors Take Note - Appellate Division Confirms That Construction Lender Has No Duty To Subcontractor Absent Express...

by Cole Schotz on 3/20/2012

The New Jersey Appellate Division recently ruled in Vollers Excavating and Construction, Inc. v. Citizens Bank of Pennsylvania, Docket No. A-3844-10T1 (March 5, 2012), that a construction lender has no obligation to pay an...more

Subcontractors and Suppliers Win Support for Lien Perfection During North Carolina Bankruptcies

by Poyner Spruill LLP on 3/7/2012

By order issued on February 23, 2012, the United States District Court for the Eastern District of North Carolina vacated the bankruptcy court’s decision in In re Mammoth Grading, Inc. This decision and the companion decision...more

Involuntary Bankruptcy as a Collection Tool

by Zumwalt Law Group on 4/21/2011

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