Commercial Law & Contracts, Construction Law, Finance & Banking

Joint Check Agreements

by Joe Virene | Looper Reed & McGraw, P.C. on 4/29/2013

If you supply construction materials and/or equipment then you likely have encountered a joint check agreement. For those that have not yet encountered this arrangement, a joint check agreement is a credit facility...more

New Changes to the Late Payment of Commercial Debts (Interest) Act

by Paul Cowan, Anthony Lavers, Rebecca Shorter | White & Case LLP on 4/18/2013

On 16 March 2013, new regulations came into force in relation to the Late Payment of Commercial Debts (Interest) Act. Enacted to incorporate a recent EU Directive, these new regulations introduce a maximum payment...more

Illinois House Considers Bill to Allow “Bonding Off” of Mechanics Liens

by Timothy Patenode, Jennifer Ryan | Katten Muchin Rosenman LLP on 4/12/2013

Lenders in Illinois might want to take note of pending Illinois House Bill 2804. The bill would amend the Mechanics Lien Act, so as to allow “bonding off” of mechanic liens for the first time in Illinois. Nearly every state...more

Federal Reserve Board And OCC Publish White Paper On CRE Concentration Guidance

by BuckleySandler LLP on 4/9/2013

On April 3, the Federal Reserve Board and the OCC jointly published a white paper on the regulators’ study of bank performance in the context of 2006 interagency guidance regarding commercial real estate lending that...more

Court Invalidates Mechanic's Lien for Seeking Excessive Amount

by Ryan Klein | Sherman & Howard L.L.C. on 4/5/2013

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

Changes to North Carolina's Mechanics' Lien Statue

by Brian Evans, Samuel Reaves | K&L Gates LLP on 3/29/2013

There are significant changes to North Carolina’s mechanics’ lien statute that take effect on Monday, April 1, 2013. These changes impose new duties on property owners regarding the designation of a private lien agent on...more

Simplifying the Mechanic's Lien Agent Process: N.C.'s New Online Clearinghouse

by Bryan G. Scott | Spilman Thomas & Battle, PLLC on 3/29/2013

As I have discussed in the past, North Carolina’s General Assembly recently introduced the concept of Mechanic’s Lien Agent (MLA) into our state’s lien laws to address so-called “hidden liens” that have long been a thorn in...more

Lenders Beware -- California decision may ignite next wave of lender liability litigation

by Reed Mercado | Sheppard Mullin Richter & Hampton LLP on 3/15/2013

In a recent decision from the California Court of Appeals entitled Jolley v. Chase Home Finance, LLC, the Court severely curtailed lenders’ ability to dispose of lender liability claims on summary judgment, thereby adopting a...more

A Key Lesson for Owners and Prime Contractors About Payments

by Duane Morris LLP on 3/14/2013

Consider the following scenario: A prime contractor with a financially-shaky subcontractor agrees with the subcontractor's secured lender to make payments directly to the lender, but the word is not passed along to the...more

2013: How Will China's Economy Affect American Businesses?

by Paola Sanchez | Michael Diaz Jr. - Diaz Reus International... on 3/4/2013

While many countries today would envy a 7.4 percent economic expansion rate, for China, the world’s second largest economy and the United States' second largest trade partner, that number suggests the lowest economic growth...more

Condominium Purchaser’s Cancellation Rights Under Florida Statute Section 718.503

by Neha Dagley | Schecter Law on 1/11/2013

Florida Statute section 718.503(1)(a)1. states, in relevant part, that a contract for the sale of a residential unit must...more

Revised law is new paint job for construction remedies

by William "Fritz" D. Pahland | Miller Starr Regalia on 1/11/2013

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

Officer Liability for Bank Losses: The Jury Speaks

by John F. Libby, Harold P. Reichwald | Manatt, Phelps & Phillips, LLP on 12/12/2012

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

What Are Some Agreement Related Issues?

by Ian D. Shewen, Matthew J. Wilson | Lerners LLP on 11/28/2012

Whenever an agreement is signed, careful attention must be focused on whether the contract or agreement in question properly addresses the issues facing the parties. One common issue found in Infrastructure Ontario...more

What are the time limits for filing a construction lien?

by Lianne J. Armstrong | Lerners LLP on 11/20/2012

Contractors, sub-contractors and suppliers all need to know how long they have to register their construction lien(s). The time limits to register a construction lien under the Ontario Construction Lien Act are as...more

The Rumble in the Jungle -- Letters of Credit, Bonding and Default Insurance: Hedging Bets in a Roller-Coaster Market

by Jonathan J. Dunn | Sedgwick LLP on 11/19/2012

“The Rumble in the Jungle…” - The favored method of developing and delivering completed construction projects in the United States has long been the design-bid-build method. Under this “traditional” method generally,...more

Nevada Supreme Court Rules on Broken Priority Issues Affecting Deeds of Trust

by Patricia J. Curtis, Stephen B. Yoken | Snell & Wilmer L.L.P. on 11/14/2012

The Nevada Supreme Court issued an important decision on the relative priority of deeds of trust and mechanics' liens in cases of "broken priority." In re: Fontainebleau Las Vegas Holdings, LLC, 128 Nev. Adv. Op. 53 (Oct. 25,...more

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

by Laura Ellen Browning, Leon F. Mead II, Alison Tashima | Snell & Wilmer L.L.P. on 11/13/2012

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

Court Rules Oregon Construction Lien Law Alters General Rule of Recorded Interests

by Lane Powell PC - Construction Law on 11/9/2012

The Oregon Court of Appeals in SERA Architects, Inc. vs. Klahowya Condominium, LLC, ___ Or. App. ___ (November 7, 2012), held that an architect’s claim of construction lien under Oregon’s Construction Lien Law had priority...more

Types of Infrastructure Ontario Projects & How Financing Works

by Ian D. Shewen, Matthew J. Wilson | Lerners LLP on 10/16/2012

Now that you know what Infrastructure Ontario is, what types of projects does Infrastructure Ontario fund? Infrastructure Ontario projects tend to fall within two types...more

Utah Court of Appeals to Lenders Relying Upon Their Own Boilerplate Lien Release Language in Form Draw Requests: Use the...

by Snell & Wilmer L.L.P. on 10/8/2012

In Utah, to obtain a waiver of lien rights from a subcontractor, material man, laborer, supplier or any other potential mechanics’ lien claimant, a lender should use the lien waiver and release form incorporated in Utah Code...more

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Commercial Law & Contracts › Construction Law › Finance & Banking