Fairfield Connecticut Building Expert Directory

U.K. Construction Resumes Growth Amid Resurgent Housing Activity

October 07, 2016 — Scott Hamilton – Bloomberg
The U.K. construction industry returned to growth in September as a measure of housing activity jumped the most since 2013. IHS Markit said on Tuesday that its Purchasing Managers Index jumped to 52.3 from 49.2 in August. It was the highest level in six months and ended a three-month run of readings below 50, the threshold that divides expansion from contraction. The figures add to evidence that the economy is performing better than many predicted following the June decision to leave the European Union. Traders increasingly expect the Bank of England to refrain from adding to its August stimulus package this year. Read the court decision
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Reprinted courtesy of Scott Hamilton, Bloomberg

Hong Kong Property Tycoon Makes $533 Million Bet on Solar

April 02, 2014 — Ehren Goossens and Benjamin Haas - Bloomberg News
A Hong Kong real-estate tycoon has spent the past year accumulating stakes in failing solar companies, piecing together what may become the biggest collection of photovoltaic factories in the world. Zheng Jianming, also known in Cantonese as Cheng Kin Ming, has spent or pledged about $533 million to buy assets that at their peak were worth almost $20 billion, according to regulatory filings in the U.S. and Hong Kong, where he has a home and office. The transactions, if completed, would transform Zheng, a newcomer to the solar industry, into one of its most powerful leaders. Another Zheng solar investment in 2012, a 30 percent stake in Shunfeng Photovoltaic International Ltd. (1165), has surged more than 2,900 percent and is now worth more than $745 million. Mr. Goossens may be contacted at egoossens1@bloomberg.net; Mr. Haas may be contacted at bhaas7@bloomberg.net Read the court decision
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Reprinted courtesy of Ehren Goossens and Benjamin Haas, Bloomberg News

Three lawyers from Haight were recognized in The Best Lawyers in America© 2020 Edition

September 30, 2019 — William G. Baumgaertner, Michael Leahy, & Denis Moriarty - Haight Brown & Bonesteel
Congratulations to Haight’s attorneys who were recognized in The Best Lawyers in America© 2020 Edition Los Angeles, California William G. Baumgaertner for personal injury and product liability litigation for plaintiffs and defendants Michael Leahy for insurance law Denis Moriarty for insurance law Reprinted courtesy of Haight Brown & Bonesteel attorneys William G. Baumgaertner, Michael Leahy and Denis J. Moriarty Mr. Baumgaertner may be contacted at wbaum@hbblaw.com Mr. Leahy may be contacted at mleahy@hbblaw.com Mr. Moriarty may be contacted at dmoriarty@hbblaw.com Read the court decision
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Novation Agreements Under Federal Contracts

November 29, 2021 — Hal Perloff - Construction Executive
A unique aspect of doing business with the federal government is the built-in limits on a contractor’s right to assign the contract or the right to payment under the contract to third parties. The Anti-Assignment Act (41 U.S.C. § 6305) prohibits the transfer of a government contract or interest in a government contract to a third party. An assignment of a contract in violation of this law voids the contract except for the government’s right to pursue a breach of contract remedies. What’s a contractor to do when it is acquired/merged with another firm, is restructured or goes through a variety of other types of corporate transaction? The Federal Acquisition Regulations recognize that firms involved in government contracts get bought and sold from time to time and includes procedures for the novation of contracts in certain situations to avoid a potential violation of the Anti-Assignment Act. What Is a Novation? A novation is a three-party agreement between the United States, the original contractor and the new contractor offering to assume the government contract. The purpose the novation is to allow the government to recognize a new contractor as the successor-in-interest to a government contract and avoid a violation of the Anti-Assignment Act. Reprinted courtesy of Hal Perloff, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Mr. Perloff may be contacted at hal.perloff@huschblackwell.com

Home Builder Doesn’t See Long Impact from Hurricane

November 07, 2012 — CDJ STAFF
No one needs to tell Toll Brothers about the impact of Hurricane Sandy. The Wall Street Journal reports that the home building company lost power as a result of the storm. Martin Connor, the company’s CFO, told the Journal that he did not expect the hurricane to have a big effect on sales. Luckily for the company, many of its large projects are either sufficiently completed to provide shelter or too early in the process to be affected by the storm. “This type of weather event has limited impact on the market. It may move settlements later, and may defer people a weekend or two until they go out shopping. But it doesn’t have a long impact.” Read the court decision
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Singapore Unveils Changes to Make Public Housing More Affordable

September 23, 2019 — Katrina Nicholas & Joyce Koh - Bloomberg
Singapore may increase its supply of public housing next year as the city-state introduced measures Tuesday aimed at making such homes more affordable. Minister for National Development Lawrence Wong said the measures would help more Singaporeans from lower to upper-middle income households buy their first homes. The Housing & Development Board, which is the body responsible for public housing, would probably have to increase supply in 2020 to meet the additional demand expected to stem from the changes, according to a joint statement from MND and HDB. Read the court decision
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Reprinted courtesy of Katrina Nicholas & Joyce Koh, Bloomberg

New York Court of Appeals Addresses Choice of Law Challenges

August 20, 2018 — Grace V. Hebbel - Saxe Doernberger & Vita, P.C.
In June, the New York Court of Appeals examined the application of a New York Choice of Law provision in a contract – a determinative issue for the case. In Ontario, Inc. v. Samsung C&T Corp., the issue was whether the plaintiff’s claims were subject to Ontario, Canada’s 2-year statute of limitations or New York’s 6-year statute of limitations for breach of contract where the contract contained a broad New York Choice of Law provision. The court found that pursuant to New York’s borrowing statute, Ontario’s more restrictive statute of limitations applied. The action was dismissed as time-barred, serving as a harsh reminder of the potential effects of choice of law and limitations periods. The suit arose out of the following facts. In 2008, an Ontario renewable energy developer, SkyPower Corp. (“SkyPower”), entered into a Non-Disclosure Agreement (NDA) with the defendants which allowed the defendants to review SkyPower’s confidential and proprietary information. The review was conditioned on restricted disclosure and the requirement that the information would be destroyed after review. Read the court decision
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Reprinted courtesy of Grace V. Hebbel, Saxe Doernberger & Vita, P.C.
Ms. Hebbel may be contacted at gvh@sdvlaw.com

Cameron Pledges to Double Starter Homes to Boost Supply

March 05, 2015 — Svenja O’Donnell – Bloomberg
(Bloomberg) -- Prime Minister David Cameron pledged to double the number of homes built for first-time buyers by the end of the next parliamentary term in a bid to tackle Britain’s housing shortage. In a speech in Colchester, Essex, on Monday setting out the final part of his Tory party’s six-point campaign platform for the May 7 election, Cameron said 200,000 properties will be built by 2020 under his starter-homes plan. Prices of the homes, only available to first-time buyers under the age of 40, will be capped at 450,000 pounds ($692,000) in London and 250,000 pounds outside the capital. Reduced planning constraints will make it easier for developers to cut building costs, allowing the homes to be sold at a 20 percent discount. Read the court decision
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Reprinted courtesy of Svenja O’Donnell, Bloomberg
Ms. O’Donnell may be contacted at sodonnell@bloomberg.net

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