Construction, property and development consultancy DBK has launched a comprehensive national insolvency service, covering all aspects of recovery work for companies working within the construction sector.

Alan Jennions, 36 has joined from Naismiths’ Leeds office to head up DBK’s new Construction Insolvency, Recovery and Risk Management team, which will work with small local businesses to large national contractors and developers. He will be working across DBK’s national network of six offices, comprising a total of 125 staff, including 50 chartered and senior surveyors. In Birmingham, where DBK is headquartered, an alliance has also been formed with Lucas Wilkes Limited – an established property and construction advisor with specialist skills in risk and value management services.   

Duncan Berry, principal director of DBK comments: “The people who currently have the lion’s share of the construction insolvency market were at the height of their careers during the last recession. Not only has the market changed in the past 15 years, but this recession is markedly different from the last. 

“We have scoured the country to find the right person to head up our Construction Insolvency, Recovery and Risk Management team and work with 50 of our chartered and senior surveyors. Alan Jennions has close to 20 years experience as a construction insolvency consultant and his approach is exactly in line with our business. It is very sad to think of the significant number of construction and development companies that may be declared insolvent over the next 12 – 18 months, but we are perfectly placed to work with these businesses and salvage all that we can.” 

As well as marketing the new service to insolvency practitioners and funders, DBK is also offering ‘health checks’ and contract reviews to developers and contractors. Whilst fund monitoring is one of the existing services DBK provides to banks and other financial institutions, the implications of being in a finance and property-led recession mean that developers and contractors need to formally indentify and manage their own risks, working alongside debt providers and the wider development team.       

In circumstances where insolvency cannot be avoided by insolvency practitioners, funders and creditors look to seek comfort in the fact that the assets of the failed company should be protected. In the majority of cases within the construction industry, the principal assets – and very often the only assets – are the company’s contracts. Reviewing, valuing and managing these contracts within a very short space of time is crucial to maximising recoveries during the insolvency process. 

Alan Jennions, head of DBK’s Construction Insolvency, Recovery and Risk Management team comments: “2009 is going to be a very turbulent year for the development and construction industry, but it’s my aim that the new insolvency team at DBK will be working right in the thick of it. The team’s extensive experience in fund monitoring, project management and valuations means that we are perfectly placed to become a leading national player in construction insolvency work. 

“We believe our main competitors are not truly national in geographical terms, so with a large professional team, offices across England and Wales and a strong reputation in the cost consultancy market, we are very optimistic about the amount of instructions that could come our way.” 

Duncan Berry concluded: “The alliance between DBK and Birmingham-based Lucas Wilkes creates an ideal blend of both core and specialist skills. This skills base, combined with DBK’s national resource levels and infrastructure has created a very strong and dynamic construction insolvency team.” 

DBK has extensive experience across mixed-use, commercial, residential, health and education sectors. The company has offices in Birmingham, London, Bournemouth, Manchester, Leeds and Ipswich with core services being project management and cost consultancy for a wide range of property development sectors. In addition, DBK also acts as the employer’s agent/client representative, provides fund monitoring services, health & safety/CDM Coordination, section 106 negotiations, building surveying, BREEAM rating and Eco Homes assessment, and utility cost management.