A national general contractor filed for bankruptcy and abandoned projects nationwide with only two days of notice provided to its surety. The projects include high-rise multi-family residential construction in New York and Connecticut, and low-rise large-scale multi-family residential construction in California, Colorado, and Washington, in various stages of completion and with significant amounts of deficient work. VERTEX was retained as a consultant by the surety to evaluate the status of each job and to find a unique solution to complete each matter, along with preparation of various financial analyses and managing interim work to prevent damage to work in place. VERTEX had over 20 professional consultants on the project sites across the country within 48 hours of being engaged. After the initial investigation period, VERTEX was able to implement the various solutions on each project by resolving payment claims, reletting several projects, assisting with a negotiated settlement on another, and continued management of construction activities on another, along with continued construction monitoring activities and performing ongoing analyses.
This project was originally posted on LKB’s parent company website, The Vertex Companies, LLC.
