Summary: Last year, a developer client raised concerns about the solvency of its main contractor, Carillion. With over 50% of the works still to be completed, the client wanted some advice as to how it could manage the risks (legally and practically) if the contractor did go “pop”. In January this year, the concerns became a reality. This blog addresses these key questions and what followed in the wake of Carillion’s demise.
Cease payment?
Editors’ Note: For those of you who like to get something you can use from blog posts, attached here is a Form PACA Nondischargeability Complaint for a PACA seller against a party that controlled a PACA buyer, where such controlling party later files for bankruptcy.
USA, Insolvency & Restructuring, Litigation, BCLP, US District Court for Southern District of Florida