Seattle Washington Building Expert Directory

Subprime Bonds Are Back With Different Name Seven Years After U.S. Crisis

January 28, 2015 — Jody Shenn – Bloomberg
(Bloomberg) -- The business of bundling riskier U.S. mortgages into bonds without government backing is gearing up for a comeback. Just don’t call it subprime. Hedge fund Seer Capital Management, money manager Angel Oak Capital and Sydney-based bank Macquarie Group Ltd. are among firms buying up loans to borrowers who can’t qualify for conventional mortgages because of issues such as low credit scores, foreclosures or hard-to-document income. They each plan to pool the mortgages into securities of varying risk and sell some to investors this year. JPMorgan Chase & Co. analysts predict as much as $5 billion of deals could get done, while Nomura Holdings Inc. forecasts $1 billion to $2 billion. Read the court decision
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Reprinted courtesy of Jody Shenn, Bloomberg
Ms. Shenn may be contacted at jshenn@bloomberg.net

Toronto Skyscraper With $1.2 Billion of Debt Has Been Put in Receivership

November 16, 2023 — Ari Altstedter - Bloomberg
A landmark condominium project in one of Toronto’s ritziest neighborhoods has been put into receivership after construction delays and cost overruns. Construction of the 85-story tower will be taken over by a court-appointed receiver after its owners, developer Sam Mizrahi and investor Jenny Coco, defaulted on part of the project’s nearly C$1.7 billion in debt ($1.2 billion), according to a Wednesday order from the Ontario Superior Court of Justice. Two funds run by South Korea-based IGIS Asset Management Co. applied for the receivership. Another IGIS fund will extend at least another C$315 million to continue work on the project, court documents said. Read the court decision
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Reprinted courtesy of Ari Altstedter, Bloomberg

Homebuilding Down in North Dakota

October 30, 2013 — CDJ STAFF
Only eleven new homes have been started this year in the Pierre area in North Dakota. Last year saw 35 homes built in the same area. Brad Lawrence, the Fort Pierre Director of Public Works, blamed last year’s Hurricane Sandy in New Jersey, stating that “superstorm Sandy has just devoured a tremendous amount of building projects.” Area builders did say that some building materials went up in price after the storm, describing it as an “availability scare,” but some prices went down during the summer of 2013. Susan Ogan, of Neil Ogan Construction said that “our biggest thing is that people cannot find a lot they can afford and still say within their budget for the overall project.” Although single-family homes aren’t being built, apartments are. “We’ve got a 24-unit apartment going in as we speak,” said Mr. Lawrence. That, some feel, may be responsible for the lack of demand for single-family homes. Read the court decision
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Exceptions to Privette Doctrine Do Not Apply Where There is No Evidence a General Contractor Affirmatively Contributed to the Injuries of an Independent Contractor's Employee

November 17, 2016 — Renata L. Hoddinott & Lawrence S. Zucker II – Haight Brown & Bonesteel LLP
The Court of Appeal of the State of California – Second Appellate District in Khosh v. Staples Construction Company, Inc. (10/26/16 – Case No. B268937) affirmed the trial court’s granting of summary judgment in favor of the defendant under the Privette doctrine where plaintiff presented no evidence that the defendant affirmatively contributed to his injuries. Plaintiff Al Khosh (“Khosh”) was injured while performing electrical work on a project. He was employed by Myers Power Products, Inc. (“Myers”) a subcontractor for the project. Khosh sued the general contractor, Staples Construction Company, Inc. (“Staples”) to recover damages for his injuries. Reprinted courtesy of Renata L. Hoddinott, Haight Brown & Bonesteel LLP and Lawrence S. Zucker II, Haight Brown & Bonesteel LLP Ms. Hoddinott may be contacted at rhoddinott@hbblaw.com Mr. Zucker may be contacted at lzucker@hbblaw.com Read the court decision
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My Employees Could Have COVID-19. What Now?

March 23, 2020 — Amy R. Patton, Leila S. Narvid, Matthew C. Lewis, Robert Tadashi Matsuishi & Sarah J. Odia - Payne & Fears
Updated Guidance as of March 19, 2020. You are concerned about potentially sick employees in the workplace. One employee is off work sick for a couple of days, and then wants to return to work. Another plans to return to work after a week of travel. Another appears to be sick at work. They are coughing, sneezing, and appear to be short of breath. You are concerned they may have COVID-19. What can you do? You're not the only one concerned -- your other employees are, too. Your public-facing employees want to wear masks to protect themselves. One employee tells you he doesn’t want to touch anything that others in the office have touched. What are your obligations to these employees? Below, we address questions relating to keeping employees safe from COVID-19 in the workplace without violating the Americans with Disabilities Act (ADA) or employee privacy laws. Can I require an employee returning from days away from work due to illness to report the symptoms the employee was experiencing that kept him/her out of work? Short answer: yes, so long as the questions are limited to whether the employee has had flu-like symptoms. Though the ADA prohibits asking employees questions related to an employee disability, COVID-19 (like the seasonal flu) likely does not rise to the level of a disability, so asking an employee about flu-like (or COVID-19-like) symptoms is unlikely to elicit information related to a disability. The Equal Employment Opportunity Commission (EEOC) has taken the position that an employer may ask if an employee is experiencing flu-like symptoms if the employee reports being ill during a pandemic. Reprinted courtesy of Payne & Fears attorneys Amy R. Patton, Leila S. Narvid, Matthew C. Lewis, Robert Tadashi Matsuishi and Sarah J. Odia Ms. Patton may be contacted at arp@paynefears.com Ms. Narvid may be contacted at ln@paynefears.com Mr. Matthew may be contacted at mcl@paynefears.com Mr. Robert may be contacted at rtm@paynefears.com Ms. Odia may be contacted at sjo@paynefears.com Read the court decision
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Location, Location, Location—Even in Construction Liens

October 28, 2015 — Craig Martin – Construction Contractor Advisor
We all know the importance of filing a construction lien within 120 days of your last work. Nebraska Construction Lien Act, § 52-137. But, equally, if not more important is filing the construction lien on the correct property. Often times on a construction project, the exact address of the project may not be known. And, if there are a few buildings going up on the same general site, it is difficult to determine which property or building address you are working on. Sometimes you can look at the contract. For example, the AIA family of documents lists the address on the first page. But, what if the wrong address is listed? What if the wrong owner is listed? Read the court decision
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Reprinted courtesy of Craig Martin, Lamson, Dugan and Murray, LLP
Mr. Martin may be contacted at cmartin@ldmlaw.com

Indicted Union Representatives Try Again to Revive Enmons

June 22, 2016 — Wally Zimolong – Supplemental Conditions
The Boston Globe reports that the Massachusetts AFL-CIO has filed a friend of the court brief seeking to have the indictment of five members of the Teamsters Union in Boston dismissed. The Teamsters members are facing federal charges that they extorted non-union contractors and owners that employed non-union contractors. The Massachusetts AFL-CIO is arguing that under the Supreme Court’s 1972 decision in U.S. v. Enmons the Teamsters alleged conduct was in furtherance of a legitimate union objective and, therefore, no illegal. Read the court decision
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Reprinted courtesy of Wally Zimolong, Supplemental Conditions
Mr. Zimolong may be contacted at wally@zimolonglaw.com

Wilke Fleury Welcomes New Civil Litigation Attorney

January 18, 2021 — Wilke Fleury LLP
Islam Ahmad represents clients on a broad range of civil ligation matters, with a focus on construction, real estate, and commercial disputes. He has represented all sides of construction and real estate cases, including owners, buyers, developers, and general contractors. He possesses superb legal research and writing skills that ensure no stone is left unturned that may improve the chances of victory for his clients. Islam Ahmad has a sophisticated working background and a wealth of experience that make him ideal for taking on clients’ challenging cases and resolving them in their best interest. His intuition makes him versatile and capable of dealing with a wide range of issues. Islam is also capable of incorporating business performance factors into his legal advice by drawing from his prior experience as a business consultant. This comprehensive approach allows him and his clients to develop sound risk management strategies and business plans. Read the court decision
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Reprinted courtesy of Wilke Fleury LLP

SEATTLE WASHINGTON BUILDING EXPERT DIRECTORY AND CAPABILITIES