Request Legal Help Now - Free


Construction company files for bankruptcy, owes as much as $50M

. By
Durham, NC: Mainline Contracting, a company that reported more than $80 million in revenue last year, has filed for Chapter 11 bankruptcy protection.

The company reportedly claims assets and debts in amounts between $10 million and $50 million, according to the filing that was made on Tuesday, September 15, in the U.S. Bankruptcy Court for the Eastern District of North Carolina.

BankruptcyExecutive vice president Gary Wright told the Herald Sun that he hopes the company will emerge out of bankruptcy in the first part of next year.

"It is a Chapter 11, reorganization filing," Wright said. "We're still operating. We're still doing our projects and doing new projects."

In the filing, Mainline states it does not expect to be able to pay its unsecured creditors.

Thompson Arthur Division of Asheville-based Apac-Atlantic allegedly has the biggest claim against Mainline and says it is owed $1.8 million for subcontracting work. Ferguson Enterprises, which sells plumbing and building products, reportedly states it is owed approximately $890,000.

Mainline has reportedly disputed both claims.ADNFCR-2533-ID-19367078-ADNFCR


Bankruptcy Legal Help

If you or a loved one have suffered losses in this case, please click the link below and your complaint will be sent to a bankruptcy lawyer who may evaluate your Bankruptcy claim at no cost or obligation.


Please read our comment guidelines before posting.

Note: Your name will be published with your comment.

Your email will only be used if a response is needed.

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.

Click to learn more about

Request Legal Help Now! - Free