Insolvency in construction, part 2: Downstream insolvency

In this episode, Tom Duncan is joined by Ben Patton, a partner in Ashurst's construction team specialising in real estate development and investment, and Sadia McEvoy, counsel in the same team. Together, they delve into the complexities of downstream contractor insolvencies and the implications for employers and funders.

With the construction sector grappling with unprecedented challenges, including rising insolvency rates, escalating material prices, and a slowdown in public project delivery, navigating insolvency issues has become more critical than ever. Tom, Ben, and Sadia explore the underlying factors contributing to contractor insolvencies and provide valuable insights into mitigating risks in today's challenging environment.

From understanding the triggers for termination in construction contracts to exploring the nuances of step-in rights and performance guarantees, this episode offers practical guidance for stakeholders in the construction industry. Whether you're a developer, funder, or contractor, this discussion sheds light on effective strategies for safeguarding your interests amidst increasing insolvency risks.

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The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.