JCT retention clauses, trust accounts and insolvency
Language: English Series: Architect and Surveyor ; 67(5) June 1992, 15-16(2)Publication details: 1992Subject(s): Summary: Dsicusses the problem of trust accounts when the empoyer becomes insolvent during the course of a building contract but before the retention monies have been placed in a separate account. At the date of the employers insolvency the main contractor will rank as an unsecured creditor in respect of all monies due to him for work done not taking into account sums already paid.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS46507 (Browse shelf(Opens below)) | 1 | Available | 58594-1001 |
Dsicusses the problem of trust accounts when the empoyer becomes insolvent during the course of a building contract but before the retention monies have been placed in a separate account. At the date of the employers insolvency the main contractor will rank as an unsecured creditor in respect of all monies due to him for work done not taking into account sums already paid.