McDermott exits Chapter 11 bankruptcy

Construction Dive

The reorganization eliminates $4.6 billion of debt and provides the energy contractor's management with 7.5% of newly issued equity

FIU bridge collapse contractor files for bankruptcy

Construction Dive

Magnum Construction Management said that the Chapter 11 filing is not an attempt to shirk responsibilities related to the deadly March 2018 incident

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Bankruptcy hearing will decide McDermott's fate

Construction Dive

The future of one of the country's largest energy contractors will be discussed tomorrow in Houston

What can be gleaned from 2018's highest-profile construction bankruptcies?

Construction Dive

Causes of last year's significant bankruptcies varied, and though some were beyond contractors' control, there are lessons to be learned

McDermott board brings on bankruptcy experts

Construction Dive

The move comes ahead of a deadline to receive a rescue financing package and follows the resignation of the company's Chief Financial Officer

Katerra Files for Bankruptcy, Seeks to Reorganize US Operations

ENR Construction

Firm, operating as a designer, contractor and supplier, cites a range of factors for its financial trouble

Litigation looms in MGT Construction's $28M debt, $50K assets bankruptcy

Construction Dive

A Chapter 7 bankruptcy trustee asked the court for a special litigation council to try to uncover any of the defunct firm's "undisclosed assets" to help it pay the more than 500 companies and individuals it owes

Debt 48

Another well-known retailer files for bankruptcy: Here's the solution to more empty anchor stores

BD+C

Last month, one of the world's most well-known retailers filed for bankruptcy. Barneys is among dozens of other retailers filing for bankruptcy this year. Barneys is almost 100 years old and will close 15 of its 22 stores as part of a major restructure, and they aren’t alone. The question is, how do landlords transform this valuable empty space? The solution lies in repurposing existing square footage

McDermott Bankruptcy Filing Gets Court OK

ENR Construction

How will contractor's restructuring succeed in a changing oil and gas market

Trustee in bankruptcy case says MGT Construction may have "undisclosed assets" to pay $28M debt

Construction Dive

A trustee in the case of MGT's Chapter 7 bankruptcy has asked the court to consider that the company may have more than the $50,000 in assets it claims

Debt 48

U.S. Nuclear Projects Teeter as Contractor Files for Bankruptcy

ENR Construction

Westinghouse's bankruptcy filing adds more uncertainty to delayed nuclear expansion projects in Georgia, South Carolina

Bankruptcy Trustee Sues Chinese Over Solar Panel Dumping

Green Building Law Update

Before the Energy Conversion Devices bankruptcy, it was a major player in the commercial and industrial rooftop solar market, achieving over $1 billion in sales employing more than 2,500 people before February 2012 when the company sought bankruptcy protection and ultimately was forced to liquidate.

New Bankruptcy Signals Emerge for Contractor McDermott

ENR Construction

Energy megaproject builder, with past reported losses, is talking with lenders for $2B to operate, reports say

Bahamian Government Blocks Resort Developer's U.S. Bankruptcy

ENR Construction

The Bahamian is seeking to take control over the resort developer's bankruptcy proceedings. Business Management

Florida developer files for Chapter 11 bankruptcy protection

Construction Dive

The filing comes amid lender claims that 550 Seabreeze Development defaulted on a $36.9 million mortgage loan for the Fort Lauderdale resort

PG&E Faces Billions in Grid Work Amid Bankruptcy Crisis

ENR Construction

Major electric grid work is ahead in PG&E’s territory, whether or not the California electric and gas utility files for bankruptcy

New Bankruptcy Signals Emerge for Contractor McDermott International

ENR Construction

Energy megaproject builder, with past reported losses, is talking to lenders for $2B to operate, and a Chapter 11 filing may be weeks away, reports say

Indiana Toll Road Operators Consider Bankruptcy

Construction Equipment

Indiana Toll Road operators are considering filing for Chapter 11 bankruptcy to get out of their $6 million debt, nwitimes.com reported. Toll Road operation should not be affected by the bankruptcy filing or change in management The Indiana Toll Road operators would also sell their rights to operate the road, requiring the 157-mile road come under new management.

Outspoken Individual Surety Files for Bankruptcy Protection

ENR Construction

Scarborough''s bankruptcy filing provides a snapshot of his financial dealings, amounts owed to creditors and his personal property. Edmund C. Business Management

PG&E Faces Jury Trial for Fire as Bankruptcy Continues

ENR Construction

A federal bankruptcy judge has ruled that a jury should determine whether Pacific Gas & Electric Corp. is responsible for the Tubbs fire of 2017, one of California’s worst wildfires, which could account for as much as two-thirds of the wildfire claims for 2017 and 2018

Florida hotel developer files for Chapter 11 bankruptcy protection

Construction Dive

The filing comes amid lender claims that 550 Seabreeze Development has defaulted on a $36.9 million mortgage loan on the Las Olas Ocean Resort in Fort Lauderdale

Employee-Owned Contractor C.C. Myers Files for Bankruptcy

ENR Construction

filed for Chapter 7 bankruptcy in California Eastern Bankruptcy Court On June 30, California contractor C.C. Myers Inc.

U.S. Nuclear Projects Teeter as Westinghouse Files for Bankruptcy

ENR Construction

Westinghouse's bankruptcy filing adds more uncertainty to delayed nuclear expansion projects in Georgia, South Carolina

Contractor in deadly South Dakota building collapse files for bankruptcy protection

Construction Dive

Hultgren Construction, the contractor working on the Copper Lounge when it collapsed in December 2016, killing one and entrapping another, has filed for a Chapter 11 case that will divide its assets among its creditors

$170 million down the drain: Lessons to learn from Quirky’s bankruptcy

Construction Marketing Ideas

The quirky.com website (scrolling down from the bankruptcy notice at its top.) The bankruptcy notice. This business managed to blow $170 million in venture capital in less than seven years.

How Liberty Mutual Prepared for Ballenger's Bankruptcy

ENR Construction

Although one of 2012's biggest contractor defaults and bankruptcies may have surprised some unsecured creditors, Ballenger Construction's surety has been working on the company's problems since the summer. Business Management

Lucky Supermarkets Bankruptcy Triggers $1.3M in Liens Against Retail Developer

ENR Construction

Construction on a new Florida store came to a halt

PG&E Offers Plan to Exit Bankruptcy

ENR Construction

San Francisco floats $2.5-billion plan to buy utility’s electric grid serving the city

Architecture for Humanity closes office, plans to file for bankruptcy

BD+C

After more than 15 years of work, the nonprofit design group Architecture for Humanity has closed its San Francisco office and plans to file for Chapter 7 bankruptcy protection, The New York Times reported. As of Jan. 1, all of its roughly 30-employee staff was laid off. An official announcement is yet to be made. read more. Architects Building Owner Contractors Designers Engineers Facility Managers Building Team

Architecture for Humanity closes office, files for bankruptcy

BD+C

After more than 15 years of work, the nonprofit design group Architecture for Humanity has closed its San Francisco office and plans to file for Chapter 7 bankruptcy protection, The New York Times reported. As of Jan. 1, all of its roughly 30-employee staff was laid off. An official announcement is yet to be made. read more. Architects Building Owner Contractors Designers Engineers Facility Managers Building Team

Sudden Bankruptcy Stalls Bluegrass Music Museum Project

ENR Construction

In late November 2016, a local Owensboro, Ky., news report proclaimed that everything was going fine at the new Bluegrass Music Museum & Hall of Fame

Swanke Hayden Connell Files for Bankruptcy Protection

ENR Construction

A high-profile design practice with a glittering portfolio of projects, had dwindled to a small operation. Business Management

The public construction firms to watch in 2020

Construction Dive

Risk reduction, deleveraging and even bankruptcy are on the table for some of the industry's top publicly traded companies this year

California’s RCR Plumbing & Mechanical to be liquidated pursuant to a U.S. Bankruptcy Court order

Contractor Magazine

is auctioning a wide range of assets on October 30 from plumbing and pipeline contractor RCR Plumbing & Mechanical, which filed for Chapter 11 bankruptcy protection last year. Tiger Group’s Remarketing Services division, in cooperation with Hackman Capital’s Equipment Acquisition Co., read more. Management Plumbing

Contractor, Bahamian Government Fight Resort Developer Bankruptcy

ENR Construction

The latest courtroom maneuvers are occurring even as the contractor and developer participate in negotiations aimed at restarting construction of the $3.5-billion Baha Mar project. Business Management

McDermott requests $105M of executive, staff bonuses

Construction Dive

The energy contractor, which filed Chapter 11 in January, has asked a bankruptcy judge for $26.8 million in total incentives for 13 management team members with the rest intended for 1,112 other key employees

Navillus Settles Into Normal Business Life After One-Year Bankruptcy

ENR Construction

New York City contractor's conflict with building trades unions appears over

How High Profit Jobs Send Contractors Into Bankruptcy

Contractor Bookkeeping

You have what appears to be a high profit job and now you are thinking you have it made and I hope you are right! The problem is high profit jobs have a way of turning into low or no profit jobs and in some cases they can bankrupt your construction company because you bid the project using whatever model you are accustomed to using and in the end you wind up with cash flow problems.

McDermott to file for Chapter 11

Construction Dive

Bankruptcy Court in Houston today The struggling energy construction giant announced it will file a prepackaged restructuring plan at the U.S.

Lucky Supermarkets Bankruptcy Triggers Over $1M in Liens Against Retail Developer

ENR Construction

Construction on a new Florida store came to a halt