Friday, January 22, 2016

Workshop F: What to do when a Bankruptcy Petition Is Filed

It's an unfortunate fact of life in the construction industry that construction companies are affected regularly by bankruptcy. Whether it is a supplier or fabricator that suddenly goes out of business, a general contractor that gets terminated for default, or an owner that no longer can pay for a project, bankruptcy can have an affect on everyone in the industry.

Helping meeting attendees understand and navigate those issues were The Honorable Benjamin A. Kahn, United States Bankruptcy Court for the Middle District of North Carolina and Barry J. Miller of Benesch, Friedlander, Coplan & Aronoff LLP in Cleveland. 

There are a host of ways to keep projects moving -- perhaps slowly, but still moving -- through using the avenues for relief available in the bankruptcy code. Judge Kahn provided an excellent overview of many of those avenues.

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