In today’s volatile lending environment, it’s important to know the signs that could indicate a client is in distress, says a construction attorney.
Dan Rosenberg is a construction attorney at law firm Much Shelist, where he supports clients in construction, design, real estate and insurance matters. Prior to that, Rosenberg was the general counsel for Chicago-based construction firm McHugh Enterprises. Opinions are the author’s own.
In recent months, high interest rates have caused concern over project delays and abandonments, even as expected cuts this month could curb some of those concerns. Still, we are currently seeing increased signs of financial distress in certain sectors of the construction market, and this distress is affecting some construction project owners.
