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Trustee in bankruptcy case says MGT Construction may have "undisclosed assets" to pay $28M debt

Construction Dive

A trustee in the case of MGT's Chapter 7 bankruptcy has asked the court to consider that the company may have more than the $50,000 in assets it claims.

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Special legal team could tap MGT Construction's "undisclosed assets" to pay $28M debt

Construction Dive

A trustee in the case of MGT's Chapter 7 bankruptcy has asked the court to consider that the company may have more than the $50,000 in assets it claims.

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Mechanics Lien and Bond Claims Best Practices

Best Practices Construction Law

Through the years of consulting with folks in the construction industry about mechanics lien and bond claims, I’ve unearthed a set of principles to help navigate the very complicated world of liens. They barely even mentioned that they could file a bond claim, and that this is commonly even referred to as a lien.

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Does a Lien Affect Your Credit Score?

Levelset

There are several different types of property liens , which are legal claims against the property held by a debtor. Credit bureaus can collect public information from state and county courts, including bankruptcies. Overdue debt that has been sent to collections also influences your score. Preventing mechanics lien claims.

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#67:  Paying Your Subcontractor's Employees

NH Construction Law

The main advantage of such “trust fund” provisions is in bankruptcy; trust funds are not considered assets of the subcontractor/debtor that can be distributed to general creditors. At the first hint of trouble the GC should demand to see them -- and if they aren’t in order, it can withhold payment to the sub.

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Rough weekend for Modern Continental

PSMJ Resources

Fast-forward to earlier today, when Modern Continental filed for Chapter 11 bankruptcy protection, according to the Boston Business Journal. and Architectural Paving as its two largest unsecured creditors, holding claims of $9.9 The company listed URS Corp. million and $3.2 million, respectively.

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State by State Incentives Guide

Buisness Facilities Contributed Content

State Credits available against the Corporate Income Tax: Education Credit (AS 43.20.014): Taxpayers that contribute to vocational education programs or accredited Alaska universities or colleges for educational purposes or facilities may claim a tax credit for 50% of the first $100,000, 100% of the next $200,000, and 50% of further contributions.

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