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Startling rise in construction firm recovery loan defaults

UK debt collections

A startling rise in construction firms defaulting on covid loans could signal a wave of future business failures. It also signals a potential wave of Debt Collection action from creditors to recover what is owed. Construction businesses are contending with both shortages of materials and labour and rising costs.

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50+ Commercial Debt Statistics

The Kaplan Group

For older debt or legal cases, actual creditor recovery drops to 10% or less. Creditors increasingly rely on court action for high-balance debts, but delays and debtor insolvency remain obstacles. Creditors, lenders, and businesses alike must adapt to a more cautious, cash-constrained era.

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184 Burr & Forman Attorneys Named Among the 2022 Best Lawyers in America

Burr Forman

Mobile, Construction Law. Troy Smith – Jacksonville, Construction Law. Erich Durlacher – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. Michael Hall – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Bet-the-Company Litigation, Litigation – Bankruptcy. Birmingham.

Lawyers 105
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Burr & Forman Names 9 New Partners Across Georgia, Alabama, South Carolina and Florida

Burr Forman

Hanna Lahr practices in the firm’s Creditors’ Rights & Bankruptcy group. Hanna’s practice focuses on representing creditors and debtors, both in and out of court, to, among other things, enforce and/or restructure debt obligations, including through the bankruptcy process. Birmingham. Jacksonville.