Columbus Ohio Building Expert Directory

Fannie-Freddie Propose Liquidity Rules for Mortgage Insurers

July 16, 2014 — Clea Benson and Zachary Tracer – Bloomberg
Ms. Benson may be contacted at cbenson20@bloomberg.net; Mr. Tracer may be contacted at ztracer1@bloomberg.net Private mortgage insurers looking to do business with Fannie Mae and Freddie Mac would have to hold minimum amounts of liquid assets under standards proposed by the companies and their regulator. To back loans packaged into securities by the U.S.-owned mortgage-finance giants, insurers would have to hold liquid assets worth at least 5.6 percent of their risk exposure, and possibly more depending on the quality of the loans they cover, according to the proposal released today by the companies and the Federal Housing Finance Agency. “Mortgage insurance counterparties must be able to fulfill their intended role of providing private capital, even in adverse market conditions,” FHFA Director Melvin L. Watt said in an e-mailed statement. Ms. Benson may be contacted at cbenson20@bloomberg.net; Mr. Tracer may be contacted at ztracer1@bloomberg.net Read the court decision
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Reprinted courtesy of Clea Benson and Zachary Tracer, Bloomberg

The Law Clinic Paves Way to the Digitalization of Built Environment Processes

February 11, 2019 — Aarni Heiskanen - AEC Business
The Law Clinic offers legal advice on digitalization to built environment innovators and experimenters and in the process helps lawmakers find the pain points in legislation. In April 2018 the Finnish Ministry of the Environment launched an experimental legal service for real estate and construction professionals, municipalities, and lawmakers. The cost-free service is like a helpdesk for anyone who has questions about real estate and construction laws and regulations and their interpretation as it applies to new digital processes. The Law Clinic is part of the national KIRA-digi project, which includes 138 experiments, many of which need legal advice for their execution. Read the court decision
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Reprinted courtesy of Aarni Heiskanen, AEC Business
Mr. Heiskanen may be contacted at aec-business@aepartners.fi

Congratulations to Wilke Fleury’s 2024 Super Lawyers and Rising Stars!!

July 15, 2024 — Wilke Fleury LLP
Wilke Fleury is extremely proud that several of its incredible attorneys have been selected as 2024 Northern California Super Lawyers or Rising Stars! Super Lawyers rates attorneys in each state using a patented selection process and publishes a yearly magazine issue that produces award-winning features on selected attorneys. Congratulations to this talented group: 2024 Super Lawyers:

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Reprinted courtesy of Wilke Fleury LLP

New Highway for Olympics Cuts off Village near Sochi, Russia

February 07, 2014 — Beverley BevenFlorez-CDJ STAFF
A new highway costing $635 million was built in Sochi, Russia to support this month’s Winter Olympic Games—but the “shining” highway has cut off residents of the Village of Akhtyr, according to The Spokesman-Review. The online publication reports that while the Olympics will showcase the “luxury malls, sleek stadiums and high-speed train links, thousands of ordinary people in the Sochi area put up with squalor and environmental waste: villagers living next to an illegal dump filled with Olympic construction waste, families whose homes are sinking into the earth, city dwellers suffering chronic power cuts despite promises to improve electricity.” One of the Sochi residents told KPAX News that what was once a “15-minute walk to get the bus to work has become a two-hour, cross-country trek. Military guards block their way to the rickety footbridge they used to use.” Furthermore, KPAX News claimed, “Heavy construction and traffic have chewed up the road through town and turned it into a dust bowl.” Read the full story at The Spokesman-Review... Read the full story at KPAX News... Read the court decision
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Texas Supreme Court Cements Exception to “Eight-Corners” Rule Through Two Recent Rulings

March 06, 2022 — Jeremy S. Macklin - Traub Lieberman Insurance Law Blog
The Texas “eight corners” rule precludes insurers from disclaiming a defense obligation based on facts not alleged in the underlying pleadings. Texas federal and appellate courts have been issuing rulings addressing exceptions to the eight corners rule and recently sought guidance from the Texas Supreme Court on whether Texas law recognizes such exceptions to the “eight corners” rule. The Texas Supreme Court has now spoken on the issue. Monroe Guar. Ins. Co. v. BITCO Gen. Ins. Corp., 65 Tex. Sup. Ct. J. 440 (2022). In Monroe, David Jones contracted with 5D Drilling & Pump Services in the summer of 2014 to drill a 3,600-foot commercial irrigation well on his farmland. In 2016, Jones sued 5D for breach of contract and negligence relating to 5D’s drilling operations on Jones’s property. Jones’s pleading was silent as to when the damage flowing from 5D’s alleged acts of misconduct occurred. BITCO and Monroe stipulated that 5D’s drill struck a bore hole during 5D’s drilling operations in or around November 2014. Read the court decision
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Reprinted courtesy of Jeremy S. Macklin, Traub Lieberman
Mr. Macklin may be contacted at jmacklin@tlsslaw.com

Watchdog Opens Cartel Probe Into Eight British Homebuilders

April 02, 2024 — Damian Shepherd & Katharine Gemmell - Bloomberg
Britain’s top antitrust enforcer has opened an investigation into eight housebuilders to probe potential information sharing, sharpening scrutiny of a sector that’s failing to deliver enough affordable housing to meet demand. The Competition and Markets Authority has opened a cartel investigation into eight developers including Barratt Developments Plc, the Berkeley Group, Persimmon Plc and Vistry Group Plc. The investigation centers on concerns the companies may have exchanged competitively sensitive information, which could be influencing the build-out of sites and the prices of new homes. An initial review will take place until December. CMA Chief Executive Officer Sarah Cardell told Bloomberg Television the watchdog had seen potential evidence of companies exchanging information relating to pricing, sales rates, and incentives offered to new homebuyers. The watchdog has the power to fine firms a maximum penalty of as much as 10% of annual revenue and disqualify directors following cartel investigations. Reprinted courtesy of Damian Shepherd, Bloomberg and Katharine Gemmell, Bloomberg Read the court decision
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Construction Litigation Roundup: “Builder’s Risk Indeed”

October 24, 2023 — Daniel Lund III - Lexology
A contractor for a hotel in Seattle was tasked with constructing the hotel utilizing premanufactured modular hotel rooms. The modular unit portion of the project was the subject of a $15.8 million subcontract between the general contractor and the manufacturer. The manufacturer was also responsible to the GC for shipping and installing the modular units. Shipping was to be “DDP,” or “Delivery Duty Paid” – which, according to a New York federal court, “is an international shipping term meaning that the seller assumes all responsibilities and costs for delivering property to the named place of destination, including export and import clearance, fees, duties, and taxes.” Additionally, per the subcontract, the manufacturer was responsible for “ensur[ing] all modular units [were] covered, secured[,] and protected from damage during the shipping process….” The modular units were shipped from Poland to Seattle. In the shipping process, the units spent some time in the Port of Everett in Washington state, where the units sustained water damage while sitting in port. A related damage claim made by the subcontractor against the general contractor’s builder’s risk policy. On the face of the policy, the policy covered subcontractors as “additional insured” parties, covered all manner of materials and the like to be used on the project, and would provide that coverage in the process of transporting the materials insofar as “inland or coastal waters” were concerned. Yet, the builder’s risk insurer refused to cover the claim for the damages to the modular units which occurred while sitting in port in Everett. Read the court decision
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Reprinted courtesy of Daniel Lund III, Phelps
Mr. Lund may be contacted at daniel.lund@phelps.com

Homeowner Who Wins Case Against Swimming Pool Contractor Gets a Splash of Cold Water When it Comes to Attorneys’ Fees

February 05, 2024 — Garret Murai - California Construction Law Blog
Looking outside as of late it seems like the glorious, sun-drenched days of Summer are just a nostalgic memory of days long gone. So, to bring back some of those warm-weather memories, I have a swimming pool case for you. Although, like most of the things we write about here on the California Construction Law Blog it’s not all fun-in-the-sun. The Lee Case In Lee v. Cardiff, 94 Cal.App.5th 398 (2023), Homeowner Dianne Lee entered into a construction contact with contractor David Brian Cardiff doing business as Advantage Pools Bay Area for a swimming pool and landscaping project totaling $231,500. It must have been quite a pool. As these things sometimes go, a dispute arose and Cardiff left the job before its was finished. Lee later sued alleging breach of contract, negligent construction and violation of the Contractor State License Law. Read the court decision
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Reprinted courtesy of Garret Murai, Nomos LLP
Mr. Murai may be contacted at gmurai@nomosllp.com

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