This webinar focuses on insolvency in the construction industry supply chain. Understanding its causes and implementing mitigation measures can undoubtedly help minimise the impact. Within the backdrop of the intense COVID-19 climate, our experienced panel of commercial, financial and legal experts explore safeguards that can be implemented when putting construction contracts in place, as well as the practical steps to take should an insolvency event impact your construction project and your supply chain.
DISCUSSION POINTS
Legal Issues
- Introduction to insolvency.
- The practical impact of the new Corporate Insolvency and Governance Act 2020.
- Standard forms of contract – JCT & NEC provisions (impact of the new Act).
- Security packages (performance bonds and parent company guarantees).
Quantum Issues
- Practical steps that parties can take to protect themselves.
- Preparing for insolvency – how to spot the warning signs on a project.
- Some simple “dos and dont’s” of insolvency.
Financial Issues
- Red flags – how to test when companies (contractors, subcontractors or employers) are in financial difficulty.
- Warning signs that banks and investors look for.
- What owners (or those putting out tenders) can do upfront to address potential issues.
SPEAKERS
Sekai Nyambo – Associate Director/Chair, HKA
Sekai is a chartered quantity surveyor in HKA’s quantum team with 16 years’ commercial and contracts experience in the engineering and construction industries. Her portfolio includes major projects across a wide range of market sectors throughout the UK, Europe and South Africa.
Colin Johnson – Partner, HKA
Colin has over 25 years’ experience including acting as a lender, equity investor, developer, and legal and financial adviser. He has been appointed as an expert witness on more than 30 occasions for a variety of cases ranging up to US$50bn+ in claim value.
Paul Cacchioli – Director, HKA
Paul is a chartered quantity surveyor with more than 30 years’ construction industry experience. He has been appointed as a quantum expert on seven occasions for disputed projects including transport infrastructure and residential, mixed-use and healthcare buildings, with values of up to £250 million.
Elizabeth Vago – Partner, Spencer West
Elizabeth has over 20 years’ experience of a wide variety of large social infrastructure projects, renewable energy projects, local government outsourcing contracts, general commercial contracts and privacy and compliance in private practice and in industry.
Jonathan More – Partner, Spencer West
Jonathan has 20 years’ extensive experience as a qualified lawyer working on major construction and engineering projects, providing full project support from procurement through to contract close-out.
