When working on a construction project, contractors obviously have a lot of concerning elements on their mind. One issue a contractor never wants to deal with is when a construction project participant files for bankruptcy. As Orange County, FL contractor lawyers, we know that when this transpires, a specific series of steps needs to be set in motion to ensure you receive payment. This begins with employing a knowledgeable Orange County, FL contractor lawyer.
Orange County, FL Contractor Lawyers That Understand Bankruptcy Laws
At Cotney Construction Law, we are solely committed to representing the legal interests of our hard-working construction clientele. With over 100 years of combined experience working in construction law, we can assist you with a variety of legal services. In the case of a bankrupt owner or entity on a construction project, our law firm navigates contractors through the highly complex reimbursement process.
Steps to Take When Dealing With a Bankrupt Entity
If you are a contractor dealing with a construction project participant that has filed for bankruptcy, as the creditor or claimant (the entity focused on collecting payment), there are many courses of action you can take to seek reimbursement from the debtor (the bankrupt entity). Here are some actions a contractor may want to take against the debtor:
- You may want to perfect a lien against the debtor on assets outside of the bankrupt property to seek repayment.
- You will need to have the restrictive automatic stay lifted in order to successfully perfect a lien against the debtor.
- Another goal is to file a secured claim that will give you priority over the other claimants in the reimbursement phase. An experienced attorney that is knowledgeable in bankruptcy law can assist you with ways to elevate your claim to “secured.”
Regardless of the direction you desire to go, you will need the counsel of an Orange County, FL contractor lawyer to direct you through the legal process and advise you on the best course of direction to take to seek reimbursement.
Legal Services for Contractors
At Cotney Construction Law, we provide construction professionals with a wide range of reliable legal services. From contract review, drafting, and revising at fixed prices to litigation and alternative dispute resolution methods, we are here to offer the hardworking men and women of the construction sector the keen legal advice and counsel they require.
If you are in need of a professional construction law firm, please submit our contact request form for more information.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.