Concerns of bankruptcy in the Construction Industry
There have been several predictions that the construction industry is on the verge of a wave of bankruptcies. As legal advisors, we encounter entities worried about their contracting parties being on the brink of bankruptcy in ongoing projects. The concern is understandable, due to the current challeng-es of the industry, and the potentially significant consequences of a bankruptcy. This raises the ques-tion of what can be done to effectively protect one’s own interest in the event of a potential bankruptcy.