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Trends In Social Infrastructure

FEDERAL, state and local budgets are in disarray in the United States. Funding at all levels is challenged, if not essentially unavailable, further exacerbated with political polarization in full swing. At the same time, in...more

TRANSACTIONAL: Project Development / Finance: PF2 and its relevance to PPPs in the GCC

The Private Finance Initiative (PFI) was a public-private partnership (PPP) model introduced by the United Kingdom government back in 1992 as a tool to engage the private sector to design, construct, finance and operate...more

Public-Private Partnerships in California - Part I

Current funding levels for public infrastructure in the United States are inadequate. Existing infrastructure is crumbling due to long-deferred maintenance and new infrastructure needed by the public is not being built. ...more

Indiana Finance Authority Shortlists 4 Proposers for its I-69 Section 5 Project

On July 31, 2013, the Indiana Finance Authority (“IFA”), in coordination with the Indiana Department of Transportation (“INDOT”), shortlisted four teams for its I-69 Section 5 Project (the “Project”) located between...more

It's All About Timing: PPP Payments

During the afterglow of the closings for the Chicago Skyway and Indiana Toll Road projects, transportation officials across the country viewed public-private partnerships (PPPs) as a panacea for the challenges caused by...more

Virginia Releases Draft P3 Pipeline for 2013 for Industry Comment

After achieving several P3 project milestones and awards in 2012, Virginia’s Office of Transportation Public-Private Partnerships (OTP3) on behalf of the Commonwealth of Virginia released a draft document entitled “2013...more

Australia: Performance Security: Bonds, Guarantees And Letters Of Credit

INTRODUCTION - When considering security requirements to support project contracts, parties often wonder what form of security is appropriate - a performance bond, parent company guarantee, bank guarantee or letter of...more

California Court of Appeal Strictly Enforces Carveout Guaranty

In “what appears to be an issue of first impression, not only in California, but in the entire country,” the California Court of Appeal in Series AGI West Linn of Appian Group Investors De LLC v. Eves (June 14, 2013)...more

Global Recognition of US Infrastructure Projects and Transportation Agencies Continues at Partnerships Awards

As we previously reported in April, organizations that annually recognize top projects and industry organizations worldwide have proven that they are no longer focusing solely on mega-projects that are part of major...more

Maryland Passes P3 Legislation

Legislation encouraging the use of public-private partnerships (P3s) to address Maryland’s growing infrastructure needs has been passed by the General Assembly and signed into law by Governor O’Malley with bipartisan...more

Public-Private Partnerships – The Future May Be Sooner Than Thought

Public-Private Partnerships, also known as P3, are evident in Florida. A P3 is a contractual relationship between a public agency and private entity that agree to share risk and rewards of a project. Historically, these...more

Public-Private Partnerships, Seaports, And The New Normal

A recent article in the PPP Bulletin, “Change we can believe in?”, explains that “PPPs are the new normal” for infrastructure projects in the United States, and public-private partnerships are being relied upon for responses...more

Officer Liability for Bank Losses: The Jury Speaks

Last week, a jury in Los Angeles federal court in a case entitled FDIC v. Van Dellen, et al. found three former officers of the failed IndyMac Bank liable for $168 million in losses in construction loans suffered by the...more

How ESOPs Can Be Beneficial for Construction Companies

What Is an ESOP? First and foremost, an ESOP is an employee benefit plan that is qualified for tax-favored treatment under the Internal Revenue Code of 1986, as amended (IRC). However, an ESOP can also be a tool of...more

Distressed Condominium Relief Act Extended

On Friday, April 6, 2012, Governor Rick Scott signed HB 517 which contains a provision extending the Distressed Condominium Relief Act (Act) otherwise due to sunset July 1, 2012. The Act was adopted in 2010 as a way to...more

Working with a joint venture or consortium contractor: getting the best out of the relationship

Introduction Joint ventures and consortiums have become increasingly important as a medium through which international contractors can undertake significant projects. As producers, traders and owners seek to expand their...more

P3s meet transportation needs

Originally published in the Colorado Real Estate Journal, November 16, 2011 - December 1, 2011. It is no secret that Colorado’s budget crisis has immobilized transportation funding, as is the case nationally....more

Property transactions between a director and his company

Directors and their advisers can be exposed to large losses if they overlook the need for formal shareholder approval of property transactions, including grant of leases, between a company and its director or his associates....more

Developers personally liable: insolvency and the SPV (UK)

Developers can be personally exposed if they control risk on a development through the limited liability of an SPV vehicle. A recent case holds directors persoanlly liable for the SPV's debts after they should have realised...more

Contractors - Accounts Receivables Management Process 2011

1/17/2011 Improving Contractors Accounts Receivable Management Nearly every contractor must deal with clients who pay late or not at all. All clients expect prompt and professional services, but they do not always meet...more

Is Your Share of the Federal Budget Worth the Compliance Costs of Becoming a Government Contractor?

Several hundred opportunities are posted by the federal government every day on www. fedbizopps.gov. These opportunities are not just for defense contractors. The federal government is an enormous player in commercial markets...more

Advertising for Dummies: Understanding Robinson Knife Manufacturing Inc. v. Commissioner's Effect on Trademark Licensing and...

This note identifies several problems created by the Tax Court’s holding in Robinson Knife Manufacturing Inc. v. Commissioner, and illustrates the dilemma with the current treatment of trademarks under the Internal...more

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