Civil Remedies Finance & Banking Construction

Read Civil Remedies updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

Construction Lenders Beware: Unbonded Stop-Payment Notices May Be Worth More Than The Paper They Are Written On

A common perception in the construction industry is that the most valuable part of an unbonded stop payment notice is the paper it is written on, at least when it is served on a construction lender. While an unbonded stop...more

Fourth Circuit Reestablishes Subcontractors’ Right to Perfect Liens After Bankruptcy Filing

The Fourth Circuit Court of Appeals recently ruled in the case of In re Construction Supervision Services that the property interest underlying a subcontractor’s lien on funds arises from the date it first furnishes labor or...more

Certain Residential Developers are Unprotected by the Anti-Deficiency Statute after Foreclosure of a Deed of Trust on Vacant...

Nearly three years ago, in M&I Marshall & Isley Bank v. Mueller, the Arizona Court of Appeals held that the Arizona anti-deficiency statute (A.R.S. § 33-814) protects a borrower who started, but never completed, construction...more

Amendments to Arizona’s Anti-deficiency Statute Exclude Homebuilders from Anti-Deficiency Protection

Last Tuesday, April 20, 2014, Arizona’s Governor, Jan Brewer, signed HB 2018 into law. This bill closes a long-standing loophole that allowed commercial homebuilders to take advantage of Arizona’s anti-deficiency statute,...more

Reviving Construction Projects — How to Avoid Creating a Frankenstein Monster

Reviving dead or moth-balled projects presents risks and rewards. The rewards include a shorter ramp-up period. The risks include the revival of claims akin to the unintended creation of a Frankenstein monster. But those...more

Arizona Court of Appeals Holds That Certain Residential Developers Are Not Protected By The Anti-Deficiency Statute After...

Nearly three years ago, in M&I Marshall & Isley Bank v. Mueller, the Arizona Court of Appeals held that the Arizona anti-deficiency statute protects a borrower who started, but never completed, construction of a single-family...more

Court Invalidates Mechanic's Lien for Seeking Excessive Amount

A mechanic's lien is a very powerful tool for prime contractors, subcontractors, suppliers, and laborers to seek compensation for work provided on construction projects. This tool, however, becomes excessive, invalid, and...more

Revised law is new paint job for construction remedies

Originally published in the San Francisco Daily Journal - December 26, 2012. If the sudden 2008 credit crunch can be likened to an earthquake, then the following flood of mechanics lien and stop payment notice...more

The Tale of Two Banks: Final Settlement in Maine Bank Security Practices Case and a Failure of Bank Security Procedures in Florida

In a case that we have written about, People’s United Bank of Maine has agreed to pay about $ 390,000 to settle a claim that its security practices allowed unauthorized persons to withdraw funds from a construction company’s...more

Nevada Supreme Court Clarifies Lender v. Mechanics' Lien Priority Disputes

On October 25, 2012, the Nevada Supreme Court, in a case of first impression, held that equitable subrogation cannot be used as a method to repair broken priority over mechanics' liens, but left the door open to the potential...more

Appraisal Since Johnson – What The Hail Is Going On?

Originally published Dallas Bar Association's Headnotes on October 24, 2012. Local courts have recently seen a dramatic increase in the filing of hail damage actions. Many of these actions are not conventional lawsuits,...more

California’s Revised Mechanics Lien Law: Changes in Rights and Obligations of Construction Lenders

California’s mechanics lien law provides various rights and remedies to persons who provide labor, service, equipment or material to real property, including the right to record a mechanics lien on the improved work for both...more

Summary of Changes to California’s Mechanics’ Lien Law – Effective July 1, 2012

Effective as of July 1, 2012, the existing statutes governing California’s mechanics’ lien law, including stop notices and payment bonds, will be repealed and replaced with entirely new statutes. The Legislature has portrayed...more

Real World: An Update from Dechert's London Finance & Real Estate Group - May 2012

Welcome to the Spring edition of Real World from Dechert’s London Finance and Real Estate Group, keeping you up to date with recent developments in real estate law and practice. I hope you like our new user-friendly format,...more

The Weitz Company v. Summit at Copper Square LLC - Will this Case Clarify How the Doctrine of Equitable Subrogation Applies in...

I. In Arizona, Parties Considering Investing in Real Estate Development Projects Have to Make Investments Without Full Knowledge about One of the Key Issues — Who Has a Priority Interest in the Property if the Project...more

Subcontractors Take Note - Appellate Division Confirms That Construction Lender Has No Duty To Subcontractor Absent Express...

The New Jersey Appellate Division recently ruled in Vollers Excavating and Construction, Inc. v. Citizens Bank of Pennsylvania, Docket No. A-3844-10T1 (March 5, 2012), that a construction lender has no obligation to pay an...more

Pop Quiz For Builders, Remodelers & Subs: Legal Issues In Residential Construction

Sales of Homes (For Builders): (1) Q: If a buyer who has executed a Purchase Agreement for a spec home notifies you, the builder and seller of the home, of one of the following, does the buyer have a valid...more

New Arizona Court of Appeals Decision Adds Confusion to the Interpretation of the Anti-Deficiency Statutes By: Neal H. Bookspan

In a new decision issued on December 27, 2011, the Arizona Court of Appeals held that Arizona's anti-deficiency statute applies to debtors who purchase vacant land with the intent to reside on the property upon completion of...more

Fighting an Overstated Mechanic's Lien: A Simpler Solution

In a depressed economy wrought with defaulting developers, a lender in California facing a lien priority challenge should evaluate whether it would be worthwhile to secure a first priority position for its deed of trust...more

Illinois Decision on Lien Priorities

The Illinois Supreme Court in La Salle Bank N.A. v. Cypress Creek 1, LP has issued an opinion clarifying the relative priorities of a lender and mechanic's lien claimants to the proceeds of a foreclosure sale where the...more

Beware Interim Lien Waivers!

The North Carolina Court of Appeals recently restored order to the use of interim lien waivers in North Carolina. The Court of Appeals issued its opinion in Wachovia Bank N.A. v. Superior Constr. Corp., COA10-1158, on July...more

Illinois Supreme Court Clarifies Rights of Lenders and Mechanics Lien Claimants to Proceeds of Foreclosure Sale

The Illinois Supreme Court has issued an opinion—in LaSalle Bank v. Cypress Creek 1, LP 1—clarifying the relative priorities of a lender and mechanics lien claimants to the proceeds of a foreclosure sale where the lender’s...more

Washington Appellate Court Rules Pre-Construction Work is Not Subject to Lien

The Washington Court of Appeals is continuing the recent trend of invalidating mechanic’s liens for lack of strict compliance – this time by concluding that the work provided by the contractor (drilling test pits and...more

Rogers Towers: Lender Workouts: Avoid the Money Pit - Don't Forget the Assignments

The economy has touched virtually every business and individual. One of the most impacted industries is the financial market. Lenders' business practices have adjusted significantly from financing projects and purchases to...more

Lien-ing Towards Payment

With a growing number of projects facing financial difficulty, the importance of maintaining leverage for securing payment is greater than ever. The project itself remains a prime security target for any contractor,...more

27 Results
|
View per page
Page: of 2

Follow Civil Remedies Updates on: