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Yes, we know that Detroit became the largest city in history to file for bankruptcy protection, a process the city is expected to emerge from this year. We are committed to helping make that future a reality,” the bank said. The bank will direct half of the $100 million in loans and grants to community projects.
Worse, a lawsuit against the general contractor or subcontractor for breach of contract after abandonment of the project will almost certainly be futile; the default on its loan usually signals that it won’t be able to pay a judgment and is probably headed for bankruptcy. Reading Cooperative Bank v. Suffolk Construction Co. ,
Being Ripped-Off And Driven Into Bankruptcy! This is, always has been and will continue to be a major headache and in some cases the direct cause for construction company owners to file business and personal bankruptcy. 07 - Your Bookkeeper - Gets defensive when you or your CPA asks questions. #08 For the full article [link].
The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. He has handled all facets of litigation from pleading to motion practice to discovery to trial. Waivers of liens: fraud. In re Christensen , 2005 WL 1941231 (Aug.
CAPCO financing, an alternative to conventional bank financing, can accommodate a slightly higher risk profile and provide a more flexible structure for growing businesses. Many small businesses that are not able to receive traditional bank financing can get support through CEF. CALIFORNIA – updated for 2014.
Completed operations coverage provides legal defense of the claim, which is found to be not of merit. A couple of years after the construction of an industrial manufacturing plant, an electrical fire destroys the plant and the equipment inside. In this case, the contractor is not out any money. Who needs completed operations insurance?
Insurance coverage protects downstream defendant parties, can provide the primary “well” from which to draw your damages, and is an option preferred by most downstream parties over insolvency—and by the owner if insolvency could lead to bankruptcy and getting in line behind banks and other creditors at bankruptcy.
CAPCO financing, an alternative to conventional bank financing, can accommodate a slightly higher risk profile and provide a more flexible structure for growing businesses. The COMMERCIAL FISHING AND AGRICULTURE BANK provides loans to fishing, tourism, natural resources and agriculture-based projects.
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