The economic downturn in Alberta has had far-reaching effects, including with respect to the financing, staffing and completion of new and existing construction projects. For owners, the possible insolvency of contractors or suppliers may create uncertainty, delay and significant additional expense that can jeopardize the project. For contractors and suppliers, the risk of depleted project funding or the insolvency of the general contractor may pose a threat to their ability to continue to pay subcontractors and to supply the project or even threaten their own financial viability.
We hope you can join us as members of both the Blakes Construction group and the Restructuring & Insolvency group discuss some of the main issues that may arise for owners and contractors when insolvency threatens the construction project, as well as practical tips for dealing with and protecting against events of insolvency.
- Asserting claims in insolvency or bankruptcy proceedings against funds received or paid into court
- The priority of such claims among creditors
- Registering and maintaining builders’ liens on the project and the priority given to such lien claims
- Using surety bonds to protect against bankruptcy or insolvency on the project
- Breakfast and Registration: 7:30 – 8 a.m.
- Presentations: 8 – 9 a.m
Calgary Petroleum Club
319 – 5th Avenue S.W.
Calgary, Alberta (Map)
Blakes and Blakes Business Class communications are intended for informational purposes only and do not constitute legal advice or an opinion on any issue. We would be pleased to provide additional details or advice about specific situations if desired.
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