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In Kasten Energy Inc. v. Shamrock Oil & Gas Ltd., 2013 ABQB 63, the Alberta Court of Queen’s Bench considered the application of Kasten Energy Inc. (“Kasten”) to appoint a receiver over all of the assets and undertakings of...more
The United States District Court for the Northern District of Mississippi denied the motion of defendant ACA Financial Guaranty Corporation (ACA) to dismiss a class action complaint, finding that the issues were previously...more
A suit on an unpaid account against your customer will likely entitle you to the principal balance plus interest and attorney fees. But a suit on an unpaid account is only as good as your customer’s ability to satisfy the...more
An issue that is often overlooked, but should be considered in the context of large project transactions, is the potential insolvency of contractors and subcontractors. A bankruptcy proceeding involving a key contractor can...more
In L&W Supply Corp. v. Joe DeSilva, et al., (Docket No. A-2960-10T2, December 19, 2012) (“L&W Supply”), a decision recently approved for publication, the Appellate Division provides guidance to material suppliers seeking to...more
In this issue: - Construction Lenders Beware - Supreme Court Upholds Secured Creditor’s Right to Credit Bid in a Bankruptcy Case - Jointly Administered Plans Must Obtain Impaired Class Approval ‘Per Debtor’...more
"Does an insurance broker, after procuring an insurance policy for a developer on a construction project, owe a duty to apprise a subcontractor that was later added as an insured under that policy of the insurance company's...more
A Massachusetts Appeals Court decision last month portends far-ranging implications for the construction industry. The court ruled that a subcontractor's mechanic's lien filed against the common areas of a condominium was...more
The abandoned construction project can present a nightmare for a property owner. This article details precautions an owner can take pre-construction to minimize the consequences of a failed project....more
Although the tactic does not receive much publicity, the filing of an involuntary bankruptcy petition against a business debtor can be an effective collection tool under the right circumstances. Learn the requirements and...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
I. INTRODUCTION A landmark Bankruptcy Court case involving TOUSA, Inc. (“TOUSA”), a Florida-based homebuilder, and several well-known banks, including, among many others, Citicorp North America, Inc. (“Citicorp”) and...more
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