This month’s JCR is devoted to topics surrounding the construction industry, which offers me the perfect opportunity to speak of TMA’s role and my interest in building a better industry for all of us who are in the business of saving distressed enterprises. My primary objective in joining TMA...

Typically, a lender can rely on receivables as collateral to support revolving lines of credit and similar credit facilities. However, the remedies and protections for suppliers, labor, and subcontractors significantly impact a lender’s ability to rely on a contractor’s receivables. Because of...

During most of the 2000s the North American construction industry has been in recovery mode. The new millennium began with the cogeneration power bust post-Enron, followed by the residential construction boom and bust, which led to the Great Recession, and now the oil bust. However, most distressed...

Since the late 1970s, federal, state, and local government agencies have established programs to help socially and economically disadvantaged entrepreneurs gain access to the economic mainstream of American society. While there are differences among these programs, in most cases the contracting...

When a turnaround professional is engaged to assist a company that operates in an industry with the second-highest default rate in the United States contracting—he or she can be sure of a challenging assignment ahead. Clearly, completing an engagement to turn around a contractor is a particularly...