In the fast-paced construction industry, slowing down might just save you in the long run. Taking the time to set up risk management systems and infrastructure is crucial to protecting the value - and helping the long-term profitability - of your construction company.
A broad range of construction industry participants will have new obligations regarding non-conforming building products under recent law reforms in New South Wales. The new laws impact all persons in the “chain of responsibility” for a product – including designers, manufacturers, engineers, architects, suppliers, developers, and builders.
Insolvency in the construction industry is on the rise. It should come as no surprise then that liquidators will reach for the low hanging fruit of an unfair preference claim to claw back payments from unsecured creditors.
The Government has now passed the rest of its Fair Work Act amendments, including the controversial “right to disconnect”. This article summarises the most recent changes that will affect all employers, and the changes from late 2023 that are rolling out in 2024 and beyond.
In the construction industry, typically provision of security flows upstream – that is, the subcontractor gives security to the head contractor who gives security to the principal. But what about the other causes of catastrophic failure, such as the principal going under or refusing to pay outstanding sums? These tend to be a common catalyst for extreme financial pain for everyone else on the project.
In the bustling world of construction, where projects come in all shapes and sizes, establishing a solid foundation for your construction business is crucial. One often-overlooked but vital tool in achieving this is the shareholders agreement.
