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What Should Construction Contractors Do When a Property Owner Files For Bankruptcy?

Jimerson Firm

FEBRUARY 11, 2022

A construction project to a screeching halt when a property owner files for bankruptcy, creating a serious risk of substantial losses for the contractor, as well as subcontractors and suppliers. The list of creditors receiving the Notice should include the general contractor of an incomplete construction project. See 11 U.S.C.

Construction

Construction Bankruptcy Secured Creditor Debtor

Luxurious Lifestyles Can Undermine the Good Faith Requirement for ?Proposed Chapter 11 Plans of Reorganization

ABI

JANUARY 10, 2020

In In re Hamilton-Gaertner , a North Carolina Bankruptcy Court found that the debtor’s proposed Chapter 11 plan satisfied the good faith requirement of section 1129(a)(3) of the Bankruptcy Code, despite certain expenses typically indicative of bad faith. [1] 1] The debtor was a physician who earned approximately $400,000 per year. [2]

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What Should Construction Contractors Do When a Property Owner Files For Bankruptcy?

Luxurious Lifestyles Can Undermine the Good Faith Requirement for ?Proposed Chapter 11 Plans of Reorganization

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