MetLife Takes Majority Stake in New San Francisco Office Tower
October 21, 2015 —
Hui-Yong Yu – BloombergMetLife Inc. is taking a majority stake in a 43-story office tower being built next to San Francisco’s Transbay Transit Center, expanding the biggest U.S. life insurer’s holdings in one of the country’s most expensive office markets.
MetLife formed a joint venture with Chicago-based John Buck Co. and Golub & Co. for the property, called Park Tower at Transbay, the companies said in a statement before the building’s groundbreaking Tuesday. The tower, which doesn’t yet have a tenant, is scheduled for completion in 2018.
Financial terms of the venture weren’t disclosed. Fred Pieretti, a spokesman for MetLife, said the company will own a majority interest in the building.
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Hui-Yong Yu, Bloomberg
Understanding California’s Pure Comparative Negligence Law
November 13, 2023 —
Yaron Shaham - Kahana FeldIn order for a plaintiff to prove a defendant is negligent, the plaintiff must prove the defendant (1) owed a duty to plaintiff, (2) breached that duty, (3) the breach was the actual and proximate cause of plaintiff’s injury, and (4) the resulting monetary damage. However, for both plaintiffs and defendants it is not an all or nothing game in California. This is because California is a pure Comparative Negligence state.
California’s Comparative Negligence law provides that even if a plaintiff is deemed 99% at fault, the plaintiff can still recover 1% in damages from a defendant. Thus, even if a plaintiff is deemed to be more than 50% (or even 99%) at fault for the incident, the plaintiff could still recover some monetary amount, or the defendant will still have to pay plaintiff, depending on how you see it. In most instances, a jury decides what percentage of fault to assign to each party.
Just as a plaintiff must prove he/she/its negligence case against a defendant, if the defendant claims plaintiff was partially responsible for the incident, the defendant must prove plaintiff was also negligent and said negligence contributed to plaintiff’s injuries. The total amount of monetary responsibility distributed among all defendants and plaintiffs must equal 100%. As crazy as it may sound, a plaintiff found to be 99.9% at fault, is still entitled to recover 0.01% from a defendant in California.
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Yaron Shaham, Kahana FeldMr. Shaham may be contacted at
yshaham@kahanafeld.com
Saudi Prince’s Megacity Shows Signs of Life
September 03, 2019 —
Vivian Nereim & Donna Abu-Nasr - BloombergThe walls are covered with graffiti in the sleepy fishing village of Khurayba. There are supplications to God, advertisements for vacation rentals and house painters. Near the local school, there’s a scribbled plea: “Open the windows of hope and drive out the despair.”
It’s here in northwest Saudi Arabia that Crown Prince Mohammed bin Salman wants investors to put their money to realize his $500 billion vision for the region. Called “Neom,” it promises to be the most freewheeling part of the kingdom, with state-of-the-art resorts and smart technologies run by robots.
But it’s also here where the risks to the 33-year-old prince’s grand plan for his country are writ large. Neom is the boldest pillar of a social and economic transformation that so far has seen at least as many delays as successes. Indeed, the question since the prince announced the vast development at an extravaganza in 2017 has been whether it can become a reality.
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Vivian Nereim & Donna Abu-Nasr, Bloomberg
Job Growth Seen as Good News for North Carolina Housing Market
November 20, 2013 —
CDJ STAFFDavid Mayo, the president of the Home Builders Association of Hendersonville told housing professionals that “it’s been a tough few years, but by all accounts it’s better now.” Currently, Henderson County, North Carolina is seeing three new jobs created for every building permit issued, which is seen as the critical measure of a region’s economic health, according to Dale Akins, a market research firm.
Henderson County has seen a rise in building permits, with 32% more permits issued in the first nine months of 2013 than in the same period of 2012. By contrast, adjacent Transylvania County has seen little job growth and a housing market that has shrunk by 25%.
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Four Common Construction Contracts
August 26, 2015 —
Garret Murai – California Construction Law BlogLike Baskin Robins, construction contracts come in a variety of different flavors although, thankfully, significantly fewer than 31. Here are four of the more common types of construction contracts between project owners and contractors:
Fixed Price
Fixed price construction contracts, also commonly referred to as “lump sum” or “stipulated sum” contracts, are the most common types of construction contracts. As its name suggests, under a fixed price contract a contractor agrees to construct a project for a “fixed” or agreed upon price.
1.
Benefits: Fixed price construction contracts provide price predictability for project owners because absent changes in the scope of work, unforeseen conditions, or other circumstances which might cause the “fixed” price of the contract to go up or down, the contractor is required to complete the work for the agreed upon price.
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Garret Murai, Wendel Rosen Black & Dean LLPMr. Murai may be contacted at
gmurai@wendel.com
Read Before You Sign: Claim Waivers in Project Documents
July 06, 2020 —
William E. Underwood - ConsensusDocsNot all claim waivers are appropriately titled “Waiver of Claims.” In fact, claim waivers can be found “hiding” without any advertisement or fanfare in a number of project documents, including change orders and applications for payment. So although getting work quickly approved and paid for is important, taking time to read the specific language in your project documents is just as important. Failure to pay close attention to this language could result in the waiver of key, unresolved project claims.
Further, and although it should go without saying, it is also just as important to read all of the terms of your contract. Important waiver language might not exist on the face of form project documents, but rather might be contained in the general and/or supplemental conditions of your contract and automatically incorporated into your form project documents. And these types of incorporated waivers can be just as enforceable.
So it is critically important to understand what you are signing and the implications it might have on future claims. This article will explore some of the common types of claim waivers that can be found in project documents so that you are better positioned to avoid inadvertently waiving claims in the future.
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William E. Underwood, Jones Walker LLPMr. Underwood may be contacted at
wunderwood@joneswalker.com
Does Arbitration Apply to Contemporaneously Executed Contracts (When One of the Contracts Does Not Have an Arbitration Provision)?
January 10, 2018 —
David Adelstein - Florida Construction Legal UpdatesBinding arbitration is an alternative to litigation. Instead of having your dispute decided by a judge and/or jury, it is decided by an arbitrator through an arbitration process. Arbitration, however, is a creature of contract, meaning there needs to be a contractual arbitration provision requiring the parties to arbitrate, and not litigate, their dispute. Just like litigation, there are pros and cons to the arbitration process, oftentimes dictated by the specific facts and legal issues in the case.
What happens when a person executes two (or more) contemporaneous contracts, one with an arbitration provision and one without? Are the parties required to arbitrate the dispute arising out of the contract that does not contain the arbitration provision?
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David Adelstein, Florida Construction Legal UpdatesMr. Adelstein may be contacted at
dadelstein@gmail.com
Where Mechanic’s Liens and Contracts Collide
July 02, 2018 —
Christopher G. Hill - Construction Law MusingsToday at Construction Law Musings, we’re back to a discussion of mechanic’s liens.
This past week, the Loudoun County Circuit Court here in Virginia had an opportunity to discuss the interaction between mechanic’s liens, contracts and the law of fixtures. In TWP Enters. v Dressel, the Court considered a provision of a contract between the TWP Enterprises, a supplier of materials to the construction project, and the builder for the defendant. The provision between the supplier and builder essentially stated that until such time as TWP’s materials were paid for in full, TWP kept title to them (check out the case link above for the full text of the provision).
Needless to say, the builder did not pay and TWP filed a mechanic’s lien then sued to enforce that lien. The owners demurred to the complaint and asked the Court to dismiss the claim on several grounds, among them that the contractual provision described above precluded the enforcement of the lien because TWP retained title to the materials despite the fact that they had been incorporated into the structure of the building and were therefore part of the realty.
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Christopher G. Hill, The Law Office of Christopher G. HillMr. Hill may be contacted at
chrisghill@constructionlawva.com