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Managing Subcontractor Bankruptcies


The current economic conditions have had a particular impact on the construction industry. Private sector project owners have had difficulty obtaining financing, as public projects are placed on hold due to the decline in tax revenues. These economic difficulties increase the likelihood of subcontractor bankruptcies. Owners, developers, and general contractors should consider the warning signs of a subcontractor bankruptcy and have a plan in effect for minimizing the losses that may result from a subcontractor bankruptcy filing. (more)

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