What are a General Contractor’s Rights and Responsibilities When a Subcontractor Files for Bankruptcy? One critical misconception is that a subcontractor’s bankruptcy means that it is going out of business. A bankruptcy by a subcontractor may actually be the method by which the subcontractor continues to operate. For many businesses, the legal process of bankruptcy…
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The Risks and Benefits of Contractors Taking “Equity” In the Project In An Effort to Get Paid and The Use of Non-Traditional Litigation Strategies. 2008-2009 bore witness to the unimaginable. Contractors who worked hard on a Project to deliver a quality product to the Owner, faced the prospect of lender defaults. The prospect of either…
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