Design Engineer/Contractor Bankruptcy: Considerations for Debtor and Creditors
The bankruptcy rate within the American construction industry has been increasing in recent years. Despite its increasing frequency, many construction industry professionals remain unaware of what a bankruptcy proceeding entails. This lack of awareness is cause for concern to both debtors and creditors. This paper, therefore, is designed to, on an overview level, lay out the factors construction debtors and creditors must consider when deciding whether to file for bankruptcy. Assuming that the decision to file for bankruptcy has been made, the paper presents an analytical overview of the bankruptcy code in terms of its operative chapters, under which a construction‐related debtor might seek relief from creditors. Since the decision to file for bankruptcy fundamentally changes business relationships, models of both Chapter 7 and 11 proceedings are included to illustrate common occurrences. It is hoped that this paper will prepare construction‐related debtors and creditors for dealing with the possibility o...
Company failure in the construction industry: a critical review and a future research agenda
SUMMARY Company failure is not only extremely disruptive to an industry but may also cause significant rippling effects in an economy. Construction companies are vulnerable to bankruptcy due to the fragmented nature of the industry, high competition, the high uncertainty and risk involved, and considerable fluctuations in construction volume. It is important to recognise any potential company failures at the earliest opportunity. While bankruptcy prediction has long been regarded as a critical topic in the accounting and finance sectors, this research topic is still under-explored in the context of the construction industry. This paper aims to provide a synthesis of the previous business failure prediction models for construction companies and put forward a future agenda in this research area. Common causes of construction company failures are also reviewed. Using the results from the proposed research, it is anticipated that construction companies will be better able to prevent business failure and this should be relevant to the current needs of the construction industry and significant to the society.
The Butcher of Amritsar: General Reginald Dyer
Chapter 1: Simla Chapter 2: Cork Chapter 3: Ireland and Burma Chapter 4: The Black Mountain Chapter 5: The Relief of Chitral Chapter 6: Staff College Chapter 7: Instructor Chapter 8: The Zakka Khel Chapter 9: Hong Kong Chapter 10: The First World War Chapter 11: Seistan Chapter 12: The Sarhadd Chapter 13: Pyrrhic Victory Chapter 14: Abbottabad