With the pressure on construction companies likely to increase as the recession deepens over the coming year, John Wallace, solicitor and managing director of specialist construction and real estate boutique law firm Ridgemont, examines directors liabilities in the event of a construction company insolvency
The construction sector is not immune to the macro-economic events that are now well rehearsed and, like with many areas of the economy, construction companies are under pressure, with supplier price increases and unavailability, labour shortages and interest rate hikes. Red Flag Alert projects that 6,000 construction companies will become insolvent in 2023.
Complications arise when subcontractors enter insolvency during the constr…
Read the full article at: https://www.pbctoday.co.uk/news/planning-construction-news/directors-duties-in-the-event-of-a-construction-company-insolvency/120700/