Housing in U.S. Cools as Rate Rise Hits Sales: Mortgages
April 28, 2014 —
John Gittelsohn and Prashant Gopal – BloombergAfter a roller-coaster decade of boom-bust-boom, the U.S. housing market is going downhill just when many economists thought annual sales would be heading up.
Sales of previously owned properties in March tumbled 7.5 percent from a year earlier to the slowest pace in 20 months, while purchases of new houses sank 14.5 percent from February, according to reports this week. Mortgage applications to buy homes plunged 19 percent from a year earlier, indicating slowing demand during what is typically the busiest season for deals.
The housing market’s underlying fragility is emerging as outside influences that fueled a two-year rebound are receding. Mortgage interest rates are rising from record lows as the central bank withdraws its stimulus, and investors, who had helped drive national prices up more than 20 percent as they went on a buying spree, are now retreating.
Mr. Gittelsohn may be contacted at johngitt@bloomberg.net; Mr. Gopal may be contacted at pgopal2@bloomberg.net
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John Gittelsohn and Prashant Gopal, Bloomberg
Appellate Team Secures Victory in North Carolina Governmental Immunity Personal Injury Matter
January 23, 2023 —
Sam Friedman & Christopher Meeks - Lewis BrisboisAtlanta, Ga. (January 12, 2023) - Atlanta Appellate Partners Seth M. Friedman and Christopher Meeks obtained a significant appellate win on behalf of a city in North Carolina when the North Carolina Court of Appeals reversed the trial court’s denial of the city’s motion for summary judgment.
In the underlying case, Lewis Brisbois’ client was sued for injuries that occurred during the construction of a dog park. The city moved for summary judgment on the grounds that it was immune from suit under the doctrine of governmental immunity. The trial court denied the motion and held that the city waived its governmental immunity through the purchase of a liability insurance policy. Lewis Brisbois was subsequently retained to handle the appeal.
Before the North Carolina Court of Appeals, Lewis Brisbois argued, on behalf of its client, that well-established North Carolina law, along with a particular provision in the city’s insurance policy, rendered the city immune from the plaintiff’s claims. The appellate court agreed, holding that the city was immune from all liability and entitled to summary judgment on all of the plaintiff’s claims. The court's full opinion can be read
here.
Reprinted courtesy of
Sam Friedman, Lewis Brisbois and
Christopher Meeks, Lewis Brisbois
Mr. Friedman may be contacted at Seth.Friedman@lewisbrisbois.com
Mr. Meeks may be contacted at Christopher.Meeks@lewisbrisbois.com
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Render Unto Caesar: Considerations for Returning Withheld Sums
January 18, 2021 —
William E. Underwood Partner, Jones Walker LLP - ConsensusDocsWithholding sums during a dispute can be an effective and perfectly legitimate means to protect against the harms caused by another party’s breach. However, withholding too much money during a dispute can turn a position of strength into one of weakness.
“Why should I fund the other side’s litigation war chest?” and “Isn’t this just a display of weakness?” are common questions raised by contractors when this issue is discussed. Often, the contractor is well within its contractual or legal rights to withhold money from a breaching subcontractor (another topic for another day). But it may not always be in a contractor’s best interest to withhold every single penny available.
This article addresses some of the long-term implications for failing to return withheld sums, including the potential to recover attorneys’ fees, possible bad faith, accruing interest, and overall litigation costs. Admittedly, it can be hard to give money back in the middle of a dispute. But sometimes it can positively impact the overall outcome of the case.
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William E. Underwood, Jones Walker LLP (ConsensusDocs)Mr. Underwood may be contacted at
wunderwood@joneswalker.com
Being deposed—not just for dictators! Depositions in the construction lawsuit (Law & Order: Hard Hat files Part 5)
January 17, 2013 —
Melissa Dewey Brumback, Construction Law in North CarolinaMy husband always finds it amusing when I talk about going “to depose” somebody. He wants to know just exactly what sort of coup d’etat I am planning. Despite the awkward language, the deposition process is not supposed to feel like water boarding, although if you don’t know what to expect it can be more miserable than truly necessary.
Simply put, a deposition is a chance for the other side’s lawyer to make you answer a whole bunch of questions (some relevant, some seemingly irrelevant) under oath. That is, first you put your hand on the Bible and swear (or affirm) to tell the truth, the whole truth, and nothing but the truth. In reality, depositions serve a variety of purposes– they educate the lawyers about the facts of the case, they give a preview of how you would “present” to a jury (i.e., would a jury like and believe you?), and they can be used to position a case for certain later dispositive motions (that is, summary judgment– stay tuned for Part 8 of the series on that issue).
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Melissa Dewey BrumbackMs. Brumback can be contacted at
mbrumback@rl-law.com
Napa Quake Seen Costing Up to $4 Billion as Wineries Shut
August 27, 2014 —
Michael B. Marois, Zachary Tracer and Dan Hart – BloombergThe earthquake that struck northern California yesterday will lead to economic losses of as much as $4 billion, fueled by damaged wineries and shuttered businesses that rely on tourists.
Insurers will probably cover about $2.1 billion, according to an estimate from Kinetic Analysis Corp., which projected total losses of about twice that sum. Costs borne by the industry may be limited because many homeowners don’t have earthquake coverage, according to the Insurance Information Institute.
“The main source of claims could well be commercial claims, those coming from wineries and vineyards and other commercial interests,” Robert Hartwig, the institute’s president, said in an interview today. “It will take a while for the business owners to sort this out.”
Mr. Marois may be contacted at mmarois@bloomberg.net; Mr. Tracer may be contacted at ztracer1@bloomberg.net; Mr. Hart may be contacted at dahart@bloomberg.net
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Michael B. Marois, Zachary Tracer and Dan Hart, Bloomberg
Death, Taxes and Attorneys’ Fees in Construction Disputes
July 18, 2022 —
Garret Murai - California Construction Law BlogAccording to Benjamin Franklin there are two certainties in this world:
Death and taxes. Let me humbly add a third if you’re ever involved in non-contingency civil litigation: Attorneys’ fees.
As such, when it comes to legal disputes, sophisticated parties know that it’s not just about winning but the cost of winning. While winning is never certain – remember Poor Richard’s proverb above – what is certain is that it will most likely cost you to find out whether you’ve won or lost. That’s why the ability to recover (or at least threaten the recovery of attorneys’ fees – that’s a separate discussion altogether) in litigation and arbitration is so important.
A few facts:
- According to the National Center for State Courts (NCSC) in their 2013 report, Measuring the Cost of Civil Litigation: Findings From a Survey of Trial Lawyers, the median cost of litigation (i.e., attorneys’ fees) for contract disputes, of which most construction disputes would fall under, was $90,575 from case initiation through post-trial disposition.
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Garret Murai, Nomos LLPMr. Murai may be contacted at
gmurai@nomosllp.com
Understanding California’s Pure Comparative Negligence Law
November 13, 2023 —
Yaron Shaham - Kahana FeldIn order for a plaintiff to prove a defendant is negligent, the plaintiff must prove the defendant (1) owed a duty to plaintiff, (2) breached that duty, (3) the breach was the actual and proximate cause of plaintiff’s injury, and (4) the resulting monetary damage. However, for both plaintiffs and defendants it is not an all or nothing game in California. This is because California is a pure Comparative Negligence state.
California’s Comparative Negligence law provides that even if a plaintiff is deemed 99% at fault, the plaintiff can still recover 1% in damages from a defendant. Thus, even if a plaintiff is deemed to be more than 50% (or even 99%) at fault for the incident, the plaintiff could still recover some monetary amount, or the defendant will still have to pay plaintiff, depending on how you see it. In most instances, a jury decides what percentage of fault to assign to each party.
Just as a plaintiff must prove he/she/its negligence case against a defendant, if the defendant claims plaintiff was partially responsible for the incident, the defendant must prove plaintiff was also negligent and said negligence contributed to plaintiff’s injuries. The total amount of monetary responsibility distributed among all defendants and plaintiffs must equal 100%. As crazy as it may sound, a plaintiff found to be 99.9% at fault, is still entitled to recover 0.01% from a defendant in California.
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Yaron Shaham, Kahana FeldMr. Shaham may be contacted at
yshaham@kahanafeld.com
ZLien Startup has Discovered a Billion in Payments for Clients
March 19, 2014 —
Beverley BevenFlorez-CDJ STAFFThe New Orleans startup company zlien “tracks liens for contractors through an online service” and has “secured more than $1 billion in payments for clients on 33,000 construction projects” according to its founder Scott Wolfe, as reported by The Times-Picayune.
When Wolfe practiced law, he noticed “an absence of any centralized service to help firms comply with lien procedures.” Wolfe “saw construction companies hiring small operators, in what he called ‘a very manual, service business,’ to track liens in different states, running the process inconsistently or failing to collect on some liens at all.”
Wolfe has entered zlien into “New Orleans Entrepreneur Week on March 28 for the Coulter IDEAPitch, a business competition in front of what The Idea Village organizers describe as an invitation-only audience of ‘world-class investors’ focused on ventures with high growth prospects.”
Wolfe told The Times-Picayune that “not getting paid is a central problem in construction. That is something that really strains the construction industry."
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