Construction insolvency
Our construction insolvency service provides specialist commercial and technical advice to insolvency practitioners and banks involved in the identification and rescue of distressed lending to, and the assets held by, failing and insolvent construction companies.
How we can help
We provide early and pragmatic advice at the investigation stage to evaluate the extent of book debt and work in progress and any other underlying security, together with contractual liabilities, such as surety bonding levels, in order to establish the viability of any proposed financial rescue package.
In the course of any subsequent insolvency proceedings we provide strategic advice to identify an exit strategy to facilitate the recovery of outstanding debts for the benefit of creditors including resolution of final accounts, disputes and claims and retentions.
Our expertise in commercial and contractual matters is also key to maximising recovery from any ‘build out’ programme and from the sale of assets and the associated contractual novation processes required.
We adopt a commercial approach in our fee arrangements which can be structured to reflect the contingent nature of the recovery of debts in construction contracts.
Our experience undertaking complex technical due diligence reviews has given us unique insight into the needs of lenders and the credit approvals process, together with the nature and importance of the underlying security.
Our team of insolvency specialists
Our insolvency specialists are Chartered Quantity Surveyors – many with dual legal and some with banking qualifications – who have a solid understanding of the nature of lending and security; the role of the insolvency practitioner and associated legislation and the need for creditors to develop an effective exit strategy.
Our staff comprises individuals whose careers have included employment with some of the largest banks and accountancy firms, giving them a thorough appreciation of the technical and industry-specific knowledge required when dealing with the complexity of construction insolvency.