Bankruptcy Protection for Developers, Contractors, Subcontractors and Vendors Perhaps because of the stigma of bankruptcy, or desperation to hold on to something they can no longer afford, we see clients who act against their own financial interests. They do things that can’t be undone or mitigated when they finally do file for bankruptcy protection. We see this acutely in the construction … [Read more...]
Epicentre Contractors Turn to Bankruptcy
February 17, 2010 By
Contracting has always been a tough business. Subcontractors often make payroll and provide supplies and labor to a project months before they are paid by the general contractor or owner.In the case of Charlotte's Epicentre, a stop work order strangled cash flow for both the developer and the contractors. We're still seeing clients whose financial difficulties began there and … [Read more...]