Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
Recently, in Marco Crane & Rigging Co. v. Masaryk, 703 Ariz. Adv. Rep. 29 (Dec. 30, 2014), the Arizona Court of Appeals established that a subcontractor on a residential project has no lien rights against an owner-occupant,...more
FLORIDA STATE CASES -
Slavin Doctrine; Design Contracts - Under the Slavin doctrine, a subcontractor design company was not liable despite negligently designing intersection traffic lights that resulted in a fatal car...more
Construction loans typically do not get refinanced before a project is completed. A construction loan is short-term in nature and both the lender and its customer expect that they will stay on the project until the project is...more
Joint operations in the oil and gas industry long have been one of the conventional ways to reduce and spread the economic risks associated with exploration, drilling and production of crude oil and natural gas. With the...more
This is an off year for Nevada’s biennium legislative session; but even though the Legislature was quiet, Nevada’s electorate was not. Nevadans approved State Question No. 1 at the ballot box. This measure amends the Nevada...more
A factor may receive notice from a judgment creditor that the judgment creditor holds a judgment lien on the accounts of the factor’s client, and be tempted to ignore the notice, since the judgment lien is later in time than...more
In an opinion published in September 2014, entitled Moorefield Construction, Inc. v. Intervest Mortgage Investment Company, et al., D065464, the California Court of Appeal held an original contractor can contractually waive...more
In the final days of its November term, the Illinois Supreme Court allowed a petition for leave to appeal in McVey v. M.L.K. Enterprises, LLC. McVey, a case from the Fifth District, presents the following question: must...more
In Van Horn v. Department of Toxic Substances Control (“DTSC”), a California Court of Appeal found that DTSC’s procedure for imposing liens on property under the California “Superfund” law violates due process of law....more
In this Home Owners Association (HOA) lien foreclosure case, the Plaintiff was unable to locate the Defendant for service. HOA’s attorney filed an affidavit for service by publication, alleging...more
REAL PROPERTY UPDATE -
- Harris Act/Inverse Condemnation: dismissal was (1) improper as to landowners’ Harris Act claim because amendments to County’s land use plan were applied specifically to landowners’ property by...more
A recent post discussed a few generalities on stock purchases and asset purchases. In a basic sense, the characteristics of a stock purchase and of an asset purchase will guide the parties in the earliest stages of...more
Never a dull moment. We at Crunched Credit are probably guilty of excess and perhaps myopic focus on our federal government and its regulatory apparatus; it is such a consistently reliable source of commentary and outrage. ...more
An Oklahoma oil tycoon learned yesterday how costly his divorce will be. Cleve and I recently wrote about how a business owner’s divorce can impact his business and affect his partners. On November 10, 2014 an Oklahoma...more
Nevada is one of many states that adopted some iteration of the Uniform Common Interest Ownership Act, an act designed in part to aid homeowners’ associations (“HOAs”) in recovering delinquent fees from their members. As...more
The plaintiffs’ antitrust claims in the New Jersey municipal tax lien auction bid-rigging class action may proceed, the federal judge presiding over the litigation has ruled.
New Jersey municipalities hold public...more
When a property owner undertakes a construction project, chances are that he looks forward to enjoying his new (or improved) property. Drawings in hand, he anticipates the day when his project will be complete and ready for...more
Construction lawyers may not ponder the great questions in life.
We leave that to the estate planning attorneys.
But ponder we do.
And the next case, as I’ll explain below, “kind of” answers 10 important...more
The Pennsylvania Legislature recently passed, and Governor Tom Corbett signed into law, Act 142 amending the Mechanics’ Lien Law of 1963 to create the State Construction Notices Directory. The Directory, which is slated to...more
A recent Arizona Court of Appeals decision highlights a lien priority risk for secured construction lenders when the financed project fails. The problem—known as a “vendee lien”—is most likely to arise when up-front deposits...more
The rate of bankruptcies among construction industry participants is higher than some think. The bankruptcy of a developer creates an “automatic stay” under federal law preventing almost all collection activities, including...more
We are often asked when representing a client in defense of a claim whether the client could avoid the liability asserted by the claimant by potentially buying the cause of action out from under the claimant. The most common...more
On October 6, the GAO released a report recommending that the Treasury Department improve its analysis of data it collects on HAMP. As of June, Treasury has disbursed only about one-third of the $38.5 billion in TARP funds...more
While representing an institutional lender in the making of a loan secured by real property located in Colorado, we came across an increasingly relevant issue regarding properties subject to a homeowner association or similar...more
A Florida appellate court recently rejected a real estate developer’s creative effort to shed its property of contractor’s liens. The court applied the venerable principal of mortgage law that a borrower may not extinguish...more
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