Construction Law, Civil Remedies, Finance & Banking

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

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

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

by Mintz Levin - Privacy & Security on 12/5/2012

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

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

Appraisal Since Johnson – What The Hail Is Going On?

by Zelle Hofmann Voelbel & Mason LLP on 10/25/2012

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

by Buchalter Nemer on 7/15/2012

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

by Snell & Wilmer L.L.P. on 6/29/2012

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

by Dechert LLP on 5/3/2012

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...

by Snell & Wilmer L.L.P. on 3/23/2012

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...

by Cole Schotz on 3/20/2012

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

by Davis Brown Law Firm on 2/28/2012

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

by Jaburg Wilk on 1/19/2012

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

by Miller Starr Regalia on 12/5/2011

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

by Duane Morris LLP on 11/17/2011

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!

by Nexsen Pruet, PLLC on 8/2/2011

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

by Duane Morris LLP on 3/13/2011

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

by Lane Powell PC - Construction Law on 1/28/2011

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

by Rogers Towers on 10/21/2010

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

by Duane Morris LLP on 6/28/2010

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

The Tousa, Inc. Bankruptcy Decision: Anatomy And Implications Of A Landmark Creditors’ Rights Case

by Miller Starr Regalia on 1/19/2010

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

Under Special Circumstances, Court Orders Specific Performance of Construction Lender’s Obligations to Fund Advances Pursuant to...

by Morrison & Foerster LLP on 8/4/2009

In Destiny USA Holdings, LLC v. Citigroup Global Markets Realty Corp., the New York Supreme Court for Onondaga County held on July 17, 2009 that Citigroup Global Markets Realty Corp. (“Citigroup”), as lender and funding agent...more

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Construction Law › Civil Remedies › Finance & Banking