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Defenders find emails that show Ballenger Construction on hot seat before bankruptcy

by administrator · Comments 0

“A KSAT 12 Defenders investigation found both the City of San Antonio and the state of Texas had problems with Ballenger Construction before the company went bankrupt, stalling local road projects.

Ballenger had projects all across the north side when it shut down in December — from Loop 1604 to Interstate 10 and Huebner.

The Defenders went through thousands of emails between the state and Ballenger and found issues with the contractor way before they went bankrupt.

An email last August showed the state had numerous issues with Ballenger and payment to their providers.

In September, there were questions about their $10,000 per day price for equipment rental that seemed a bit high.

And indications were there was defective work on a ramp in October where numerous problems occurred.

There were other instances where Ballenger tried to get more money from the state but the state denied those attempts. The state knew Ballenger had underbid some of the projects.

On the Wurzbach I project, Ballenger bid $26.4 million and the state estimated it would cost $28.2 million.

On the Wurzbach III project, Ballenger bid $24 million and the state estimated it would cost $28 million.

A Texas Department of Transportation spokeswoman would not say whether the state, having seen all these problems, should have known Ballenger was in trouble long before they went bankrupt.

The city, too, had problems with Ballenger.

On the DeZavala Road project, a city employee wrote: “I am disturbed about what I am seeing about how Ballenger is constructing this project.”

Another email warned Ballenger “any substandard work will not be accepted.”

The city said this was all normal in dealing with contractors.

The good news in all of that is that neither the city nor the state lost any money because of Ballenger’s bankruptcy.

All projects were covered by bonding companies that picked up the projects and found new contractors.”

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Filed Under: News Tagged With: Bankruptcy

Liberty Mutual: Bonded Contractor Stonewalled Us

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“A North Carolina contractor lost a big lawsuit, ran into financial trouble and then stonewalled surety Liberty Mutual Insurance Co. for a short while before filing for protection from its creditors in U.S. bankruptcy court.

That is the picture that emerges of Intercoastal Contracting Inc., a Castle Hayne, N.C.-based heavy construction general contractor that started as a diving company in 1987, from a lawsuit against it in August by Liberty Mutual. The contractor’s downfall is also recorded in other legal documents and lawsuits.

During a year when contractor failures have spiked, sureties are often forced to step in to finish projects while their contractor clients are in financial free fall. Because the surety almost always has the right under its agreement with the contractor to be compensated in full for its losses, the relationship can become strained. And when all the complexities of a bankruptcy are factored into the equation, the projects may languish.”

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Filed Under: News Tagged With: Bankruptcy, Lawsuit

Construction subcontractors facing cash flow crisis

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“Thousands of construction subcontractors are facing a cash flow crisis after several firms doing major government contracts failed in the past two months.

In the construction industry the impact of corporate failure spreads far and wide, with changes to industry work practices in recent years seeing subcontractors replacing employees.

Debt recovery specialist Glen Bower says thousands of subcontractors are vulnerable and that many are small, family-run businesses that depend on a cash flow.”

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Filed Under: News Tagged With: Bankruptcy, cash flow, Subcontractors

Las Cruces contractor sentenced for fraud, embezzlement case

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“A local construction contractor will serve eight years in state prison for defrauding customers and embezzling money over a five-year period, prosecutors said.

Gary Winsor and his late father, Raymond L. Winsor, were indicted in 2007 after prosecutors said their construction companies defrauded at least 16 customers who had hired them for roof work, home additions and remodeling projects, from 2002 to 2007.

About 50 lawsuits against the Winsors and their companies, which used the names Winsor Construction, RayWin Construction, WCS Inc. and Western Truss – resulted in civil judgments against the Winsors, according to court records.

Between 1997 and 2005, about $1 million in debt accumulated by the Winsors was by bankruptcy court, according to court records.”

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Filed Under: News Tagged With: Bankruptcy, embezzlement, Fraud

Fluor Takes $180 Million Charge on Greater Gabbard Offshore Wind Farm

by administrator · Comments 0

“The company highlighted that the project is experiencing a number of issues that have substantially increased the estimated cost to complete the project. Cost overruns reflect the impact of the bankruptcy of a major subcontractor, …”

Conduct your due diligence on all subcontractors before they work with your company. Be Sure.

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Filed Under: News Tagged With: Bankruptcy, Due Diligence

Filed Under: NewsTagged: ,Bankruptcy, Due Diligence
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