Fairfield Connecticut Building Expert Directory

Colombia's $15 Billion Road Plan Bounces Back From Bribe Scandal

June 03, 2019 — Oscar Medina - Bloomberg
Colombia’s $15 billion highway program has come roaring back to life as laws to protect investors help confidence recover from a massive kickback scandal that had paralyzed the sector. Public works expanded 8.5% in the first quarter from a year earlier, a rare bright spot in an economy that has struggled to grow since oil prices crashed nearly five years ago. Colombia ranks 102 out of 140 nations in road infrastructure quality, behind Bolivia and Sierra Leone, according to World Economic Forum’s Global Competitiveness report. Fixing that problem, which has bedeviled Colombian industry and agriculture for centuries, can boost growth for a generation, the government believes. Read the court decision
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Reprinted courtesy of Oscar Medina, Bloomberg

DE Confirms Robust D&O Protection Despite Company Demise

February 18, 2015 — James Yoder, Michael Onufrak and Siobhan Cole – White and Williams LLP
On Feb. 5, 2015, the United States Bankruptcy Court for the District of Delaware, per Judge Brendan L. Shannon, entered proposed findings of fact and conclusions of law in favor of the former president and CEO of Ultimate Escapes Inc., James M. Tousignant, and its chairman, Richard Keith, after determining that Tousignant’s actions in negotiating and executing a controversial asset purchase agreement were protected by the business judgment rule, despite the demise of the company a short time later. The failure of a business strategy, in and of itself, does not create liability on the part of the former directors and officers of a bankrupt company. Background Ultimate Escapes was a luxury destination club that provided its members with access to high-end vacation residences around the world. Unfortunately, Ultimate Escapes’ business suffered greatly from the economic downturn that began in 2008, and on Sept. 20, 2010, Ultimate Escapes filed voluntary petitions for relief pursuant to Chapter 11 of the Bankruptcy Code. Reprinted courtesy of White and Williams LLP attorneys James Yoder, Michael Onufrak and Siobhan Cole Mr. Yoder may be contacted at yoderj@whiteandwilliams.com Mr. Onufrak may be contacted at onufrakm@whiteandwilliams.com Ms. Cole may be contacted at coles@whiteandwilliams.com Read the court decision
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Multifamily Building Pushes New Jersey to Best Year since 2007

December 04, 2013 — CDJ STAFF
One project that might be seen as typical for New Jersey is Fair Lawn Promenade, which is being built at the former site of a Kodak film processing plant. The development will revitalize an existing area, rather than send people further from the cities into the New Jersey countryside. The development is within walking distance of a commuter rail station. This project and ones like it have pushed New Jersey to a 37% increase in residential building over last year. Almost 60% of this year’s residential building in New Jersey has been multifamily. And it’s likely to stay that way for a while, according to Patrick O’Keefe, an economist at CohnReznick. He says that millennials have less of a “commitment to the American dream of homeownership.” Read the court decision
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DOE Abruptly Cancels $13B Cleanup Award to BWXT-Fluor Team

February 01, 2021 — Mary B. Powers & Debra K. Rubin - Engineering News-Record
The U.S. Energy Dept. has cancelled a $13-billion, 10-year contract awarded just a few months ago to a team led by BWXT Technical Services and Fluor Federal Services to manage millions of gallons of radioactive waste stored underground at its Hanford, Wash., former weapons site—confirming plans for a major scope expansion and lengthy reprocurement but sharing few details. Reprinted courtesy of Mary B. Powers, Engineering News-Record and Debra K. Rubin, Engineering News-Record Ms. Rubin may be contacted at rubind@enr.com Read the full story... Read the court decision
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Not Pandemic-Proof: The Ongoing Impact of COVID-19 on the Commercial Construction Industry

December 06, 2021 — George B. Green Jr. - Construction Executive
The impact of COVID-19 has been felt in nearly every industry and arena across the country, with the exception of construction—or so that is the general perception. Perceptions are often wrong though, and this one is no different. The truth is that the construction industry has been hit just as hard, if not harder, than every other industry. As the COVID-19 pandemic struck in the spring of 2020, construction projects plowed forward full steam ahead. Roadwork seemed to increase and developers continued to systematically acquire property and initiate large-scale projects. Perhaps it was these observations that led many to the conclusion that construction was pandemic-proof as the rest of society attempted to cobble together something that vaguely resembled a normal business year. But the construction industry has endured many challenges over the last 18 months, and unfortunately, the challenges do not appear to be evaporating anytime soon. The industry has been primarily affected in the areas of scheduling, manpower and permitting, which has ultimately affected pricing. The entire way jobs are scheduled has been turned upside down. The supply chain issues that many have experienced for everyday household items have hit the construction industry as well. Reprinted courtesy of George B. Green Jr., Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Mr. Green may be contacted at ggreen@wwhgd.com

U.K. Puts Tax on Developers to Fund Safer Apartment Blocks

March 08, 2021 — Emily Ashton & Olivia Konotey-Ahulu - Bloomberg
The U.K. announced an extra 3.5 billion pounds ($4.8 billion) toward the cost of stripping dangerous cladding from apartment blocks in England, with a new tax on developers from next year to help cover the costs. Housing Secretary Robert Jenrick said the new cash will add to a previously announced 1.6 billion-pound “safety fund” to remove the material, which was blamed for the deaths of 72 people in a catastrophic fire at London’s Grenfell Tower in 2017. A new tax will be introduced for U.K. residential developers in 2022 to raise at least 2 billion pounds over the next decade to ensure homebuilders “make a fair contribution” to solving the problem, Jenrick told the House of Commons on Wednesday. Reprinted courtesy of Emily Ashton, Bloomberg and Olivia Konotey-Ahulu, Bloomberg Read the court decision
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Sixth Circuit Rejects Claim for Reverse Bad Faith

June 17, 2015 — Tred R. Eyerly – Insurance Law Hawaii
The Sixth Circuit rejected the insurer's claim for reverse bad faith against its insured who made a fraudulent claim after her home was destroyed by fire. State Auto Property and Cas. Ins. Co. v. Hargis, 2015 U.S. App. LEXIS 7475 (6th Cir. April 23, 2015). The insured's home burned to the ground early one morning. She filed what she would later admit was a fraudulent insurance claim with State Auto for approximately $866,000. State Auto paid in excess of $425,000 before filing an action to declare the policy void. State Farm's investigation eventually led to the insured's admission that she had a friend burn down her house to collect insurance proceeds. An indictment was issued and the insured pled guilty. She was sentenced to a 60-month term and was ordered to pay restitution to State Auto totaling $672,497. Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Insurance Law Hawaii
Mr. Eyerly may be contacted at te@hawaiilawyer.com

Good Signs for Housing Market in 2013

December 20, 2012 — CDJ STAFF
Dan Green, a loan officer at Waterstone Mortgage, is optimistic about the construction market in 2013. He notes that the rise in building permit, housing starts, and housing completions are all good signs. Mortgage rates are still low, making these new homes attractive to buyers. Read the court decision
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FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES