By Scott Budd, Shannon Etwell and Philip Pan King & Wood Mallesons
The increased level of financial risk within the major project, property and construction sectors has led to a spate of recent insolvencies. In such insolvencies, we are seeing government, regulators and other stakeholders, particularly subcontractors, taking a more active and aggressive role. For these reasons, it is becoming more important for financiers, owners, principals and contractors to manage counterparty insolvency risk as a key part of their project contingency plans.
Continue Reading IpsoFacto Law Reform and Managing Insolvency Risks