Assessing the strength of an association's construction defect claim against a debtor company filing an ABC requires a unique blend of bankruptcy law and community association law knowledge, write attorneys Jeffrey S. Berlowitz and Jordan G. Weinkle.
September 22, 2015 at 11:00 AM
1 minute read
Community associations that pursue construction defect lawsuits against developers, contractors and design professionals have had to contend with bankruptcy filings by the defendants in these cases for decades.
However, in recent years, we have begun to see some of the defendants in these actions avoid liability by choosing to file an assignment for the benefit of creditors, or ABCs, rather than bankruptcy.
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