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Before the Energy Conversion Devices bankruptcy, it was a major player in the commercial and industrial rooftop solar market, achieving over $1 billion in sales employing more than 2,500 people before February 2012 when the company sought bankruptcy protection and ultimately was forced to liquidate.
Many times those costs are not recovered, however; they could make the difference in keeping the Builder or Owner solvent or ending up with a failed project or worse yet bankruptcy. Construction estimates can be developed in house or there is always the option to engage an Outsource or Freelance estimating company.
One error may be the difference in bankruptcy or staying afloat. Insurances; Workers compensation, General Liability, Risk. Less opportunities. Too many contractors vying for the same job . More competition will force unrealistic costs. Low costs leave zero room for error. Increased time to complete projects. Office Utilities.
Here’s how this section reads: Except as provided in Paragraph (2) of this Subsection, nothing in this Part shall be construed to preclude a surety from asserting any defense to the principal obligation that its principal could assert except for lack of capacity or discharge in bankruptcy of the principal obligor.
Similarly, New Hampshire law provides that if a subcontractor doesn’t pay amounts owed to its employees under workers’ compensation laws, the general contractor must cover those as well. RSA 275:46. RSA 281-A:18.
The economic hardships that have resulted have exposed many businesses to financial strain and led to an increased number of high-profile insolvencies and bankruptcies. In addition, the insolvency of an award debtor may present a real hurdle to the enforcement of any monetary arbitral award.
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.
The credit for the employer can be as much as: $2,400 for each new adult hire; $1,200 for each new summer youth hire; $4,800 for a veteran entitled to compensation for a service-connected disability; $9,000 for each new long-term family assistance recipient hired over a two-year period. for worker compensation rates.
Participating companies are compensated by being able to reduce their federal income tax liability with a tax credit between $1,200 and $9,000 per qualified employee, depending on the target group. COST-CUTTING & OMBUDSMAN SERVICES: The MEDC helps companies save money through Workers’ Compensation Cost Control Service.
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