Challenging Times
In today’s challenging economic environment, construction companies are faced with the realities of increasing competition and decreasing margins on a scarce number of projects. Bidding against multiple competitors on a limited number of projects, experiencing inconsistent operating results including cost overruns, and suffering from a slow accounts receivable cycle can cause an accumulation of creditors and cash shortages that can be crippling to the business.
In addition to the number of operational and financial challenges facing companies in this industry, the challenges presented by the highly-complex Builders Lien Act, which guides the industry from a statutory perspective, also must be considered.
G-Force Group can assist your company by drawing on senior advisors and professionals with extensive construction and development management experience.
G-Force Group Restructuring Solution Tailored to the Construction Industry
G-Force Group has developed a “one-track” restructuring solution that, under the jurisdiction of the Supreme Court of B.C., can assist a construction company in dealing with its trust and/or lien claimants under the Builders Lien Act in a streamlined process that minimizes costs, including the legal costs associated with multiple court actions including the filing of liens, and results in a fair and equitable distribution of assets to creditors.
In conjunction with the process discussed above, other potential solutions that G-Force Group can assist your company with are as follows:
- Formal restructuring options including:
- Proposals under the Bankruptcy and Insolvency Act
- Arrangements under the Companies’ Creditors Arrangement Act (CCAA)
- Divesting of assets/operations
- Formal liquidation options that could lead to restructuring or re-deployment of assets/operations
Contact G-Force Group
Contact Chris Sinclair at csinclair@g-forcegroup.ca (778.371.0013) or Don Redden at dredden@g-forcegroup.ca (604.685.9600) for more information.
