Changing the face of construction insolvency
We help insolvent construction companies get paid what they are legally entitled to.
One of the key tools we use is the adjudication process. Pythagoras has been the pioneer in establishing adjudication for insolvent construction companies in the UK.
We pursue and make recoveries on debts owed to construction companies (whether they be work in progress, book debts or retentions). We are not simply a recovery agent, nor a firm of quantity surveyors.
Experts in Construction Insolvency
A no win/no fee cost structure has enabled us to focus on construction insolvency law whilst other firms couldn’t, giving us unrivalled experience in the sector.
Given our pre-eminent position in the construction insolvency sector, we have contributed to Practical Law’s Q&A. The Q&A explores the current trends in restructuring and insolvency activity in the construction industry and considers the industry-specific issues and risks that practitioners should be aware of. Further details can be found here:
Restructuring and insolvency in the construction industry – Q&A
Senior engineers with global experience head up our dedicated construction team.
Bespoke funding & enforcement approach
Our financial backing enables us to fund litigation and operate on a no win/no fee basis. This is supported by our bespoke enforcement arrangements which make sure that debts are paid.
Comprehensive, seamless service
The whole process takes place in-house, which enables and drives us to act swiftly and efficiently.
- We chase ALL DEBTS, we don’t cherry-pick.
- We have completed all debt recovery within six months in 99% of our cases to date.
Supreme Court win
In 2019 we won our appeal at the Supreme Court to allow insolvent construction companies to use the adjudication process, enabling IPs to potentially significantly increase debt recovery.
This ground breaking judgment in Bresco Electrical Services Limited v Michael J Lonsdale (Electrical) Limited, had huge implications for IPs dealing with construction insolvencies. Pythagoras Capital acted, as it did throughout, for the liquidator of Bresco.
For more detail on Bresco, please see our article on Practical Law’s Construction Blog.