Fairfield Connecticut Building Expert Directory

Inside New York’s Newest Architectural Masterpiece for the Mega-Rich

May 20, 2015 — Oshrat Carmiel – Bloomberg
The newest condominium tower in midtown Manhattan's billionaires district is ready to open its doors to buyers. It took almost a decade to get there. The skyscraper at 53 W. 53rd St., designed by French architect Jean Nouvel and rising next to the Museum of Modern Art, will start marketing its 139 apartments next week, with prices starting at $3 million. Planned since 2006, the project endured the real estate bust and a global financial crisis that decimated demand for luxury homes. Now it's emerging when buyers can't seem to get enough of them. "We're very eager to begin,'' said David Penick, the New York-based managing director for developer Hines, which is building the project with Goldman Sachs Group and Singapore-based Pontiac Land Group. "We're confident in what we have to sell in the market we're in, and we'll see how it goes.'' Read the court decision
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Reprinted courtesy of Oshrat Carmiel, Bloomberg

Policy's Limitation Period for Seeking Replacement Costs Not Enforced Where Unreasonable

March 12, 2014 — Tred R. Eyerly – Insurance Law Hawaii
The New York Court of Appeals determined that a two year period for obtaining replacement costs for damage to property was unenforceable where the property could not be reasonably replaced in two years. Executive Plaza, LLC v. Peerless Ins. Co., 2014 WL 551251 (N.Y. Ct. App. Feb. 13, 2014). Plaintiff's office building was severely damaged in a fire on February 23, 2007. It cost more than a million dollars to restore the building to its previous condition. Plaintiff had $1 million in coverage from Peerless. The policy provided that replacement costs for any loss would be paid after the damaged property was repaired. The insured was required to make the repairs as soon as possible. Further, the policy provided that any legal action against the insurer had to be brought within two years of the loss. Peerless paid the "actual cash value" of the destroyed building pursuant to the policy in the amount of $757,812.50. Peerless informed the plaintiff that it would have to provide documentation of the completion of repairs to collect the full replacement value, another $242,187.50. 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

Todd Seelman Recognized as Fellow of Wisconsin Law Foundation

February 15, 2021 — Todd Seelman - Lewis Brisbois Newsroom
Denver Managing Partner Todd R. Seelman has been recognized as a Fellow of the Wisconsin Law Foundation, joining a select group of attorneys who comprise no more than 2.5% of the entire membership of the Wisconsin Bar. Mr. Seelman's membership in the Fellows organization represents that his peers have recognized him for his outstanding professional achievements and devotion to the welfare of his community, state, and country, as well as the advancement of the legal profession. “I am grateful for this honor and opportunity to become a member of an exceptional group of lawyers," Mr. Seelman said. "I look forward to working to advance the Fellows’ important goals, including promoting justice and improving legal education. The Fellows organization was created to honor members of the Wisconsin Bar who have achieved significant professional accomplishments and contributed leadership and service to their communities. Read the court decision
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Reprinted courtesy of Todd Seelman, Lewis Brisbois
Mr. Seelman may be contacted at Todd.Seelman@lewisbrisbois.com

Home Prices in 20 U.S. Cities Increase at Slower Pace

February 25, 2014 — Victoria Stilwell – Bloomberg
Home prices in the U.S. climbed at a slower pace in the year through December, pointing to a moderation in the market that will help keep more properties within reach for prospective buyers. The S&P/Case-Shiller index of property values in 20 cities rose 13.4 percent from December 2012 after increasing 13.7 percent in the year ended in November, the group said today in New York. It was the first deceleration since June. The gain matched the median estimate of 33 economists surveyed by Bloomberg. Price appreciation is slowing as rising mortgage rates combined with harsh winter weather to cool home purchases over the past few months. Smaller increases mean more homes will remain affordable as the labor market improves, helping maintain the rebound in residential real estate that has boosted growth. Read the court decision
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Reprinted courtesy of Victoria Stilwell, Bloomberg
Ms. Stilwell may be contacted at vstilwell1@bloomberg.net

Is Your Construction Business Feeling the Effects of the Final DBA Rule?

June 04, 2024 — Nathaniel Peniston - Construction Executive
The Biden administration’s final rule “Updating the Davis-Bacon and Related Acts Regulations” took effect on Oct. 23, 2023. In “the first comprehensive regulatory review in nearly 40 years,” the Department of Labor has returned to the definition of “prevailing wage” it used from 1935 to 1983—before Microsoft released the first Windows operating system. Construction industry leaders must be aware that this is the most comprehensive review and overhaul of the act in 40 years; with it, the DOL has attempted to modernize its approach to wage creation and fringe benefit allocation. There are more than 50 procedural changes to the act, which means it is very important for contractors to be aware of wage classifications when bidding, performing work on Davis-Bacon Act projects and using applicable fringe dollars for bona fide benefits. UNDERSTANDING THE CHANGES Some of the critical adjustments included in the final rule that contractors should be aware of include: Wage determination changes during a project: Historically, contractors could rely on the wage determinations used to win a project for the life of the project. However, the final rule now requires the contractor to use current wage determinations when a contract is changed or extended. The DOL “proposed this change because—like a new contract—the exercise of an option requires the incorporation of the most current wage determination.” Reprinted courtesy of Nathaniel Peniston, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Mr. Peniston may be contacted at npeniston@fbg.com

Chinese Billionaire Sues Local Governments Over Project Payment

January 28, 2015 — Bloomberg News
The billionaire founder of closely held China Pacific Construction Group sued six local governments in a bid to force payment of 900 million yuan ($144 million) his company is owed for infrastructure projects. Yan Jiehe said today he was trying to prove a point and winning the lawsuits wasn’t his main goal. Courts in Hebei, Yunnan, Guizhou, Hunan and Shandong provinces accepted the cases, he said in an interview. “We cannot let the governments work without any supervision anymore,” Yan said. “The results of the lawsuits are not that important to me and I care more about rule of law.” Read the court decision
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Reprinted courtesy of Bloomberg News

Senate’s Fannie Mae Wind-Down Plan Faces High Hurdles

March 19, 2014 — Clea Benson, Cheyenne Hopkins and Kathleen Hunter – Bloomberg
A bipartisan U.S. Senate plan to dismantle Fannie Mae (FNMA) and Freddie Mac must clear many political hurdles in a short time if it is to become law, leaving narrow chances of a housing-finance overhaul being enacted this year. Senate Banking Committee leaders said the proposal, which they plan to release later this week, would replace the two U.S.-owned mortgage financiers with government bond insurance that would kick in only after private capital suffered severe losses. It will be left to the courts to decide how investors in Fannie Mae and Freddie Mac are treated as the two companies are wound down, Mike Crapo, an Idaho Republican who co-wrote the bill, said today in an interview on Bloomberg Television. Investors including Perry Capital and Fairholme Capital Management are suing the U.S. to challenge an arrangement in which all the companies’ profits go to the Treasury. Ms. Benson may be contacted at cbenson20@bloomberg.net; Ms. Hunter may be contacted at khunter9@bloomberg.net; Ms. Hopkins may be contacted at chopkins19@bloomberg.net Read the court decision
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Reprinted courtesy of Clea Benson, Cheyenne Hopkins and Kathleen Hunter, Bloomberg

Nevada Supreme Court Reverses Decision against Grader in Drainage Case

June 30, 2011 — CDJ STAFF

The Nevada Supreme Court has issued an opinion in the case of Rayburn Lawn & Landscape Designers v. Plaster Development Corporation, reversing the decision of the lower court and remanding the case for a new trial.

The case originated in a construction defect suit in which Plaster Development Corporation was sued by homeowners. Plaster filed a third-party complaint against its subcontractor, Reyburn. The testimony of Reyburn’s owner was considered to be admission of liability and so the court limited the scope of Reyburn’s closing argument and did not allow the jury to determine the extent of Reyburn’s liability. Reyburn appealed.

Plaster, in their case, cited California’s Crawford v. Weather Sheild MFG, Inc. The court held the application of these standards, but noted that the “an indemnitor’s duty to defend an indemnitee is limited to those claims directly attributed to the indemnitor’s scope of work and does not include defending against claims arising from the negligence of other subcontractors and the indemnittee’s own negligence.”

On the matter of law against Reyburn, the court concluded, “Given the conflicting evidence at trial as to whether Reyburn’s work was implicated in the defective retaining walls and sidewalls, and viewing the evidence and inferences in Reyburn’s favor, we conclude that a reasonable jury could have granted relief in favor of Reyburn.” The Nevada Supreme Court conduced that the district court should not have granted Plaster’s motion for judgement.

Further, the Nevada Supreme Court found that the district court should have apportioned the fees and costs to those claims directly attributed to Reyburn’s scope of work, “if any,” and should not have assigned all attorney costs and court fees to Reyburn.

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FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES