Six Contracting Tips For Property Owners And Real Estate Developers To Protect Themselves From Contractor Distress And Related Bankruptcy Filings – Insolvency/Bankruptcy/Re-structuring

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Over the past year, the Covid-19 pandemic upended many
industries. While the construction industry has largely been able
to operate throughout the pandemic, albeit with increased and
ever-changing restrictions on jobsites, one consequence of these
disruptions may be an increase in construction-related bankruptcy
filings. Already in 2021, there have been over 70
construction-related bankruptcy filings across the country. For
many property owners and real estate developers, these filings
create a nightmare scenario where work may slow or even stop
entirely. 

The time is ripe, therefore, for a quick reminder for how
property owners and real estate developers can protect themselves
– and their projects – from downstream distress. Below
are six key issues that owners should consider when contracting for
their next…

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