Fairfield Connecticut Building Expert Directory

Loan Modifications Due to COVID-19 Pandemic: FDIC Answers CARES Act FAQs

May 11, 2020 — Nancy Sabol Frantz, Marissa Levy, Timothy E. Davis & Kristen E. Andreoli - White and Williams
In support of financial institutions and borrowers during the COVID-19 pandemic, the newly enacted Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes a number of provisions permitting lenders to suspend, during a covered period, requirements under U.S. Generally Accepted Accounting Principles (GAAP) with respect to categorizing certain loan modifications as a troubled debt restructuring (TDR) due to COVID-19. In light of the CARES Act, the Federal Deposit Insurance Corporation (FDIC) issued a series of answers to FAQs for financial institutions with respect to loan modifications. The FAQs help guide lenders as well as borrowers as they address pending defaults under existing credit facilities. The FAQs encourage financial institutions to work with borrowers who may be unable to meet their payment obligations due to COVID-19 in several ways: Payment Accommodations Short-term accommodations which modify, extend, suspend or defer repayment terms should be intended to facilitate the borrower’s ability to work through the immediate impact of the virus. According to the FAQs, all loan accommodation programs should ultimately be targeted towards repayment. To that end, the FDIC recommends that financial institutions address deferred or skipped payments by either extending the original maturity date or by making those payments due in a balloon payment at the maturity date of the loan. Reprinted courtesy of White and Williams attorneys Nancy Sabol Frantz, Marissa Levy, Timothy E. Davis and Kristen E. Andreoli Ms. Frantz may be contacted at frantzn@whiteandwilliams.com Ms. Levy may be contacted at levymp@whiteandwilliams.com Mr. Davis may be contacted at davist@whiteandwilliams.com Ms. Andreoli may be contacted at andreolik@whiteandwilliams.com Read the court decision
Read the full story...
Reprinted courtesy of

Balestreri Potocki & Holmes Attorneys Named 2020 Super Lawyers and Rising Star

July 06, 2020 — Balestreri Potocki & Holmes
The law firm of Balestreri Potocki & Holmes is pleased to announce that Shareholders Thomas A. Balestreri, Jr. and Joseph P. Potocki have been selected as 2020 Super Lawyers and Associate Robin H. Smith has been named a 2020 Rising Star. Each year no more than 5 percent of the lawyers in the state are selected to receive the honor of being included in the Super Lawyers list and no more than 2.5 percent of the lawyers are selected to the Rising Stars list. Balestreri has been selected to the Super Lawyers list in the areas of Construction Litigation. Balestreri has dedicated most of his 30 plus years in practice to the representation of developers, property owners, and general contractors in litigation, negotiations, and risk management. A seasoned trial lawyer, he has tried a number of high exposure cases with great success. Selected as a Super Lawyer in the area of Construction Litigation, Potocki’s practice concentrates on litigation, transactional matters and construction contract drafting and negotiation. His extensive litigation experience involves high-value disputes relating to a wide variety of issues in the real estate, business and construction arenas. Smith has been named a Rising Star by Super Lawyers in the area of Civil Litigation. In her varied litigation practice, Smith represents individuals and business entities in complex catastrophic personal injury matters. She also represents employers in labor and employment matters and a variety of businesses, including automobile dealers, in breach of contract, unfair competition, unfair business practices, defamation, and consumer claims. Super Lawyers, a Thompson Reuters business, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. The result is a credible, comprehensive and diverse listing of exceptional attorneys. Balestreri Potocki & Holmes is headquartered in San Diego, California. The firm provides comprehensive counsel to large and small companies across a wide range of established and emerging industries. Balestreri Potocki & Holmes is located in downtown San Diego at 401 B Street, Suite 1470. More information about the firm can be found at: www.bph-law.com. Read the court decision
Read the full story...
Reprinted courtesy of Balestreri Potocki & Holmes

LaGuardia Airport Is a Mess. An Engineer-Turned-Fund Manager Has a Fix

May 26, 2019 — Sree Vidya Bhaktavatsalam - Bloomberg
Thierry Déau’s engineering training in France led him early in his career to building government-funded infrastructure. But it was his entrepreneur father back home in Martinique who inspired him to strike out on his own in 2005. He started Paris-based Meridiam to finance, build, and manage long-term projects. Now, with €7 billion ($7.83 billion) in seven funds and nine offices across Europe, the Middle East, Africa, and North America, Meridiam is playing a key role in high-profile projects such as the upgrade of New York’s LaGuardia Airport and a road tunnel under the Port of Miami. Déau describes Meridiam’s investment approach in an interview with Bloomberg Markets. Read the court decision
Read the full story...
Reprinted courtesy of Sree Vidya Bhaktavatsalam, Bloomberg

The Condominium Warranty Against Structural Defects in the District of Columbia

July 24, 2023 — Nicholas D. Cowie - Cowie Law Group
THE CONDOMINIUM WARRANTY AGAINST STRUCTURAL DEFECTS Condominium developers in Washington DC are required by statute to warrant against structural defects in residential condominiums. District of Columbia Condominium Act (“DC Condo Act”) § 42-1903.16(b). The warranty applies to both condominium common elements and each condominium unit. It requires a developer to repair structural defects, including any resulting damage to the condominium caused by a common element structural defect. DC Condo Act § 42-1903.16(a-1)(2). The statute creating this warranty is called the “Warranty Against Structural Defects,” contained in the DC Condo Act § 42-1903.16. “Structural Defects” Defined The warranty applies to “structural defects,” which are very broadly defined to include many types of construction defects. Structural defects are not just limited to defects in the supporting structure of the building. Rather, a structural defect can be any condition that:

“(A) Reduces the stability or safety of unit or common elements below standards commonly accepted in the real estate market,” or (B) Restricts the normally intended use of all or part of the common elements of a unit and which requires repair, renovation, restoration, or replacement to serve the purpose for which it was intended.” DC Condo Act § 42-1903.16(j)(6).

Read the court decision
Read the full story...
Reprinted courtesy of Nicholas D. Cowie, Cowie Law Group
Mr. Cowie may be contacted at ndc@cowielawgroup.com

Real Estate & Construction News Roundup (7/10/24) – Strong Construction Investment in Data Centers, Increase Use of Proptech in Hospitality and Effects of Remote-Work on Housing Market

August 05, 2024 — Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law Blog
In our latest roundup, renters stay in their units longer, GenAI change how commercial real estate operates, and banks continue high exposure due to commercial real estate.

Strong investor interest, particularly in opportunistic and value-add segments, signals a strong market for construction firms specializing in high-yield projects. (Sebastian Obando, Construction Dive)
A growing number of renters are staying in their units for longer periods of time than they did a decade ago with over one-third of U.S. renters have lived in the same apartment for more than five years. (Mary Salmonsen, Multifamily Dive)
Several U.S. regional and mid-sized banks continue to face the squeeze from high exposure to the commercial real estate sector that has been shaken by higher-for-longer interest rates and empty office buildings. (Reuters)

Read the court decision
Read the full story...
Reprinted courtesy of Pillsbury's Construction & Real Estate Law Team

Municipalities Owe a Duty to Pedestrians Regardless of Whether a Sidewalk Presents an “Open and Obvious” Hazardous Condition. (WA)

February 25, 2014 — Natasha Khachatourians – Scheer & Zehnder LLP Liability Newsletter
Issue: Does a municipality owe a duty to pedestrians to keep sidewalks reasonably safe for their intended use even if the condition of the sidewalk is an open and obvious hazard? YES Facts: Plaintiff Nanci Millson liked to walk in Lynden, Washington. While plaintiff regularly walked through her neighborhood and knew that various areas of the sidewalk were cracked and lifted, she continued to walk through her neighborhood nonetheless. Plaintiff felt that the sidewalks closer to her neighborhood were in better condition and when she reached an area a block away from her home, she picked up speed even though she was in an area of sidewalk she previously had not walked before. Plaintiff became distracted, tripped on an elevated sidewalk and fell, suffering various injuries. Plaintiff sued the City of Lynden (“City”) for negligently failing to maintain the sidewalk in a reasonably safe condition. The City argued that the tripping hazard was “open and obvious”, and the trial court granted the City summary judgment. The issue before the Court of Appeals was whether an “open and obvious” condition is a matter of law to be decided by the court. Read the court decision
Read the full story...
Reprinted courtesy of Natasha Khachatourians, Scheer & Zehnder LLP
Ms. Khachatourians may be contacted at natashak@scheerlaw.com

Shea Homes CEO Receives Hearthstone Builder Humanitarian Award

February 12, 2014 — Beverley BevenFlorez-CDJ STAFF
Bert Selva, Shea Homes CEO, received the Hearthstone Builder Humanitarian Award at the 2014 NAHB International Builders’ Show in Las Vegas, Nevada, according to Big Builder. Selva “has served for 11 years on HomeAid's board of directors,” and “is a big supporter of the nonprofit that works to provide housing for homeless families, victims of natural disasters, and veterans.” Furthermore, “Shea Homes has built eight HomeAid shelter projects valued at more than $5.2 million and has contributed nearly $850,000 to HomeAid and its chapters, making it one of the group's largest benefactors.” Not only does Selva actively support HomeAid, he also “serves as a national vice president of the Muscular Dystrophy Association.” "I ask myself, 'How would it feel if that were me or my family?'" Selva told Big Builder. "When you personalize it, it becomes a lot more real and that's the motivation for me." The award “includes recognition at an event during the 2014 International Builders' Show and a cash award to a charity of his choice.” Read the full story, Jennifer Goodman’s Article... Read the full story, John McManus’s Article... Read the court decision
Read the full story...
Reprinted courtesy of

What Construction Contractors Should Know About the California Government Claims Act

May 28, 2024 — Garret Murai - California Construction Law Blog
If you work on state or local public works projects in California you should have at least a basic understanding of the Government Claims Act formerly known as the Tort Claims Act (Govt. Code §§ 900 et seq.). In the event of a dispute with a public entity, the Government Claims Act will usually apply, absent contractual provisions providing otherwise (Govt. Code §§930, 930.2) (e.g., in a construction contract), and requires that a “claim” first be presented to a “public entity” before a claimant files a lawsuit against the public entity. Failure to comply with the Government Claims Act can serve as a bar to maintaining a lawsuit against a public entity. What types of claims does the Government Claims Act apply to? The Government Claims Act broadly applies to most claims against state and local public entities. This is not limited to construction projects and includes all claims for “money or damage” arising from death, personal injury, breach of contract, and damage to real and personal property, wrongful death, or breach of contract. Read the court decision
Read the full story...
Reprinted courtesy of Garret Murai, Nomos LLP
Mr. Murai may be contacted at gmurai@nomosllp.com

FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES