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Waldschmidt v. Singletary Construction LLC (In re Tackett), 516 B.R. 498 (Bankr. M.D. Tenn. 2014) –
A bankruptcy trustee sought turnover of profits from the sale of homes constructed by a contractor. The trustee...more
Note: This post is the first in a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more
The case is Branch Banking & Trust Co. v. Construction Supervision Services Inc. (In re Construction Supervision Services Inc.), 753 F.3d 124 (4th Cir. 2014). After a general contractor filed bankruptcy, several of its...more
On August 7, 2014, the Nevada Supreme Court issued two opinions dealing with the priority of mechanics’ liens and the proof required for a materialman to establish a lien. These cases provide valuable guidance to lenders,...more
The statutory mechanics lien is a powerful tool for contractors and suppliers aggrieved by an owner or prime contractor who fails or refuses to pay. Before a mechanics lien may be enforced, the Code of Virginia mandates that...more
Bankruptcy court is often the “court of bad news” for creditors. ...more
The Industry and Current Legislation -
The NSW building and construction industry (the Industry) is plagued by a high level of insolvencies. In the 2012 financial year, almost 25% of the external administrations...more
Even in good economic times, lien claims asserted by subcontractors and material suppliers abound and lead to costly disputes. As in many states, North Carolina’s materialmen’s lien statutes create a system where “hidden” or...more
"APPROPRIATE RATE OF INTEREST" FOR A CHAPTER 11 CRAM-DOWN & THE SUPREME COURT’S "TILL" DECISION
According to the Bankruptcy Code, a confirmable Plan of Reorganization must provide dissenting secured creditors a sum...more
On the way in to the office this morning there was a news story on the radio about homes in Arizona. A full 50% of home owners owe more on their home than it is worth here in Arizona. You may have the same thought I...more
We now see signs of hope on the horizon for the battered real estate market. But recovery typically happens in stages and there is no reason that this recovery will differ in that regard. At the initial stages of a recovery,...more
By William C. Smith, Partner at Manning Fulton & Skinner, P.A.
Collections have never been as important — or as challenging — as now. North Carolina construction industry vendors have long held an advantage over other...more
Mortgage Foreclosure Information...more
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