Building an Effective Workout Strategy for Contractor Clients
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Building an Effective Workout Strategy for Contractor Clients
BY STEVEN A. ROACH & LAWRENCE M. DUDEK, SENIOR PRINCIPALS AND NELSON O. ROPKE, PRINCIPAL, MILLER CANFIELD
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...
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Nelson O. Ropke, a principal at Miller Canfi eld, represents secured and unsecured creditors. His practice focuses on litigation with a concentration in loan enforcement, construction, condominium associations, and other real estate matters. He is an Oakland County Bar Foundation Fellow and is licensed to practice in Michigan and Nebraska. Ropke can be reached at ropke@millercanfi eld.com.
Lawrence M. Dudek (center) is a senior principal at Miller Canfield and has over 35 years of experience in commercial real estate and bankruptcy litigation, including foreclosure, receivership, construction claims (defects, delays, impacts), secured loan workouts, lender liability defense, and fraudulent conveyances and transfers. Dudek can be reached at dudek@millercanfield.com.
Steven A. Roach is a senior principal at Miller Canfield and specializes in recovering money on distressed loans and assets for creditors. When not practicing law, Roach loves to ride his bicycle. He can be reached at roach@millercanfield.com.
