Because of the Bankruptcy Trustee’s “strong-arm” powers, the news that the Revel Casino in Atlantic City has filed for bankruptcy should concern any contractor who received a payment from the owner of Revel — and they are many — within the last ninety days. Under 11 U.S.C. Section 544, the Trustee is granted the… Continue Reading
Category Archives: Bankruptcy
Subscribe to Bankruptcy RSS FeedNavigating a “Construction” Bankruptcy
Posted in Bankruptcy, Mechanics LiensStick around long enough and dealing with a bankruptcy during or after a construction project is inevitable. Moreover, when a member of the construction “chain” – owner, contractor, or subcontractor – files for bankruptcy everyone is effected. Receiving a Trustee’s “preference letters” might be largest cause of irate phone calls from clients to their attorneys. … Continue Reading
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