FAQ - Vendors, Clients, and Customers

Frequently Asked Questions for Vendors

 

Is MCM open for business?

Yes, our doors remain open and we are continuing to serve our clients with the level of excellence they have come to expect.

 

How did MCM get into this situation?

MCM’s liquidity became constrained after the catastrophic collapse of the FIU bridge and its inability to pursue new projects. Thereafter, MCM lost access to its credit facilities. Following consultation with the company’s advisors, management concluded that in-court restructuring is the best way forward for the company. The filing of the Chapter 11 Case is not an attempt to avoid any responsibility that might be assigned to the Company for the collapse of the bridge.  The Company intends to resolve those claims as part of the restructuring.

 

Is their debtor in possession financing to fund operations pending the transaction?

Yes, we have secured commitments exceeding $18 million in debtor in possession financing to help fund our operations and complete our projects.

 

Who can tell me what I will be paid after this process is completed?

We have sought authority to honor our obligations to vendors, subcontractors and materialmen on our bonded projects. MCM will pay those parties in the ordinary course of business.

 

Why should I continue doing business with you?

We are required by law to pay for all goods and services you deliver to us after the filing date. Moreover, we have the support of our sureties who continue to be bound by the payment and performance bonds they have issued.

 

Can I modify or terminate the terms of our agreement?

No. The law prohibits any party from modifying or terminating a contract. You cannot do this even if a contract provision states you can terminate upon a Chapter 11 filing.

 

Where can I receive more information?

For more information regarding this process, feel free to contact your Project Manager, any of MCM’s principals, (305) 541-6869 and/or visit www.mcm-us.com/faq.

Frequently Asked Questions for Our Clients and Customers

 

How will my project be impacted by the reorganization?

It will not be impacted in any way; and all projects continue to be bonded by the sureties. We have secured commitments exceeding $18 million in debtor in possession financing to help fund our operations and complete our projects.

 

How did MCM get into this situation?

MCM’s liquidity became constrained after the catastrophic collapse of the FIU bridge and its inability to pursue new projects. Thereafter, MCM lost access to its credit facilities. Following consultation with the company’s advisors, management concluded that in-court restructuring is the best way forward for the company. The filing of the Chapter 11 Case is not an attempt to avoid any responsibility that might be assigned to the Company for the collapse of the bridge.  The Company intends to resolve those claims as part of the restructuring.

 

Is MCM open for business?

Yes, our doors are open. We are continuing to serve our valued customers, and it is business as usual.

 

Will we be able to work with you on future projects?

Yes, MCM will continue to operate in the ordinary course of business, and anticipates bidding on future projects.

 

How can we get updates on the company during and after the reorganization process?

We will be periodically providing updates on the process, and if you have any questions, feel comfortable in reaching out to your Project Manager, or to any of the Munilla brothers. Additionally, for more information regarding this process, feel free to call (305) 541-6869 and/or visit www.mcm-us.com/faq.