By Albert B. Wolf Attorney at Law Recently, I have had a number of calls from general contractor clients complaining that one or more of their subcontractors have gone broke, leaving a bunch of unpaid suppliers. So what do they do? There are two possible solutions that might work if their owners have personal wealth… Continue reading Piercing the Corporate Veil: Help with Subcontractor Defaults
Tag: contractors
Using Trust Fund Solutions for Contractor Payment Defaults
By Albert B. Wolf Attorney at Law These trying economic times require more knowledge and creativity to survive and prosper. With many trade contractors failing, general contractors and owners need to know and take actions that could reduce or eliminate losses when their contractors or subcontractors don’t pay their bills. One of those actions available… Continue reading Using Trust Fund Solutions for Contractor Payment Defaults
Building Success Despite Failure
Samuel M. Starr and Kevin J. Walsh – December 5, 2011 In today’s economy, we continue to see bankruptcies occurring in the construction sector. An owner, contractor, or subcontractor in financial distress can easily delay a project — or worse, jeopardize the project in its entirety. Contractors need to understand their rights in order to… Continue reading Building Success Despite Failure
Collaborative methods increase exposure
Judy Greenwald November 13, 2011 – 6:00am New approaches that have emerged in construction that have led to an increased demand for contractors’ professional liability insurance include integrated project delivery and building information modeling, although both may present underwriting challenges for insurers. Observers say the idea behind IPD is that all the team members involved… Continue reading Collaborative methods increase exposure