Daniel Sullivan writes for Property Week on what lenders can do if a major contractor becomes insolvent
The insolvency of a significant building contractor such as Henry Construction has obvious widespread effects on many parties, including employees, customers, contractors and developers.
But it is also of significant concern to lenders exposed to developers on uncompleted projects, because it is likely to delay completion and increase the overall cost – both of which negatively affect a lender’s credit position.
Daniel Sullivan, Partner and Head of Banking and Finance, writes for Property Week on what lenders can do if a major contractor becomes insolvent.
Read the full article in Property Week here.