What happens if one of your partners goes bankrupt?


Attorneys Richard Bixter Jr., James Chivilo and Gregory Meeder advise that bankruptcy filings by one participating contractor on a project can have a ripple effect on other contractors involved. "The bankruptcy filing of a construction project participant will likely lead to payment stoppages and project disruptions, and on top of that, a trustee can seek to claw back partial payments received by other contractors, subcontractors or suppliers from the debtor," they write.

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