Adversarial. Hostile. Inequitable. These are words commonly associated with traditional divorce proceedings. Typically, these proceedings include pre-trial negotiations and settlement procedures which are transacted under the shadow of the court, subject to the authority of the judge, who has the power to reject or amend settlements in cases where they may appear inequitable in the eyes of the court. The pre-trial process is typically adversarial in nature and business valuation experts are...
Read More >>As we all know in the construction industry, surety losses are a
lagging indicator of the tough economic struggles we have been
facing. As surety losses have moved well below the annual
averages of 29%, underwriters are expecting loss ratios to
significantly decline in the next 12 – 24 months due to a weakened
sub-contractor community that has been impacted by two to three
years of deteriorating results and/or outright losses.
Because of the performance of the construction industry the past...
Many general contractor (GC) owners think of litigation as of the cost of doing business. This is especially true now that economic times are difficult. Banks are more carefully reviewing draw requests, GCs are asking more questions of their subs, accounting firms are monitoring their cash flows, and everyone is trying to cut costs. Here are a few steps to take to minimize potential pain from litigation:
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Know the condition of your
lenders
a. If you anticipate needing a line of credit, apply...
With no foreseeable end to the decline in construction volume,
general contractors (GC) should recognize the potential for
increased subcontracting defaults and take steps to prevent or
reduce their impact.
When the industry was booming, the concern about subcontractors was
whether they could meet project specs and timelines, whether they
employed enough skilled workers; or how skyrocketing material
prices would challenge successful project completion.
Now-a-days, here are several ways to...
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