Chinese Hunt for Trophy Properties Boosts NYC, London Prices
January 21, 2015 —
Vinicy Chan – BloombergWhat do New York’s most famous hotel, the Lloyd’s of London building and the headquarters of the U.K.’s top law firm have in common? They’re all owned by Chinese insurers.
This new breed of buyers, who weren’t allowed to invest overseas before 2012, are flooding into the global market for prime commercial real estate after being given more freedom to deploy their $1.6 trillion of assets. That has meant good times for sellers of trophy real estate in major cities.
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Vinicy Chan, BloombergMs. Chan may be contacted at
vchan91@bloomberg.net
Water Damage Sub-Limit Includes Tear-Out Costs
June 06, 2022 —
Tred R. Eyerly - Insurance Law HawaiiThe Florida Court of Appeals affirmed the trial court's ruling that the homeowner policy's sub-limit for water damage included tear-out costs. Sec. First Ins. Co. v. Vazquez, 2022 Fla. App. LEXIS 1205 (Fla. Ct. App. Feb. 18, 2022).
A discharge of water from the cast iron pipes caused damage to the home. The water escaped as a result of the failed cast iron pipes due to wear and tear, deterioration, and corrosion. The insurer acknowledged coverage for the water damage and paid $10,000 under the Limited Water Damage Endorsement (LWD Endorsement). The provision recited that "'[t]he limit of liability for all damage to covered property provided by this endorsement is $10,000 per loss." The insureds' suit argued they were entitled to additional benefits for the cost to tear out and replace a part of the concrete slab - an action necessary to reach the corroded pipes. The parties stipulated that the cost of the tear-out would be $40,000.
The parties agreed that the LWD Endorsement provided coverage of both water damage and tear-out costs. They also agreed that the cost to repair and/or replace the corroded pipes was not covered. They disagreed, however, over the proper interpretation of the limitation of liability provision in the LWD Endorsement. The insured argued that the $10,000 limit applied to both water damage and tear-out costs. The insureds argued that the $10,00 limit applied only to water damage to covered property.
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Tred R. Eyerly, Damon Key Leong Kupchak HastertMr. Eyerly may be contacted at
te@hawaiilawyer.com
How Will Today’s Pandemic Impact Tomorrow’s Construction Contracts?
October 26, 2020 —
Levi W. Barrett, Nathan A. Cohen & Mark A. Snyder - Peckar & AbramsonThe emergence of COVID-19 has created a new set of challenges in the already complex world of negotiating construction contracts. In the pre-COVID-19 era, general contractors, construction managers and those negotiating on their behalf, needed to balance a variety of fairly well-established legal risks and exposures and commercial realities with the need to maintain a positive relationship with their counterparty. While many are rightfully concerned with addressing the impacts of COVID-19 to their on-going projects, those negotiating new contracts now are undoubtedly cognizant that they are negotiating in the midst of an unpredictable future that is tipping the historical negotiating balance. The following presents some crucial areas to focus on when negotiating and drafting your contracts in this new era.
Contract Terms Through the COVID-19 Lens
Contractors should examine proposed new contracts carefully to identify rights that afford COVID-19 protections and identify contractual obligations that create COVID-19 commercial risks.
Specific attention should be paid to those sections relating to force majeure/excusable delay, emergencies, changes (including changes in law), contingency, suspension and termination, site investigation as well as all representations and warranties. The paramount concern in examining these provisions is to ensure that they not only entitle the contractor to relief for those unknown events, emergencies and changes, but that they also contain sufficient entitlement for the contractor to obtain both time extensions and financial compensation for unknown impacts of a known event – the COVID-19 pandemic.
Reprinted courtesy of
Levi W. Barrett, Peckar & Abramson, P.C.,
Nathan A. Cohen, Peckar & Abramson, P.C.and
Mark A. Snyder, Peckar & Abramson, P.C.
Mr. Barrett may be contacted at lbarrett@pecklaw.com
Mr. Cohen may be contacted at ncohen@pecklaw.com
Mr. Snyder may be contacted at msnyder@pecklaw.com
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A Court-Side Seat: Clean Air, Clean Water, Endangered Species and Deliberative Process Privilege
April 19, 2021 —
Anthony B. Cavender - Gravel2GavelThe federal courts have issued some significant environmental law rulings in the past few days.
THE U.S. SUPREME COURT
U.S. Fish and Wildlife Service v. Sierra Club, Inc.
On March 4, 2021, the court held that the deliberative process privilege of the Freedom of Information Act shields from disclosure in-house draft governmental biological opinions that are both “predecisional” and deliberative. According to the court, these opinions, opining on the Endangered Species Act (ESA) effects on aquatic species of a proposed federal rule affecting cooling water intake structures—which was promulgated in 2019—are exempt from disclosure because they do not reflect a “final” agency opinion. Indeed, these ESA-required opinions reflect a preliminary view, and the Services did not treat them as being the final or last word on the project’s desirability. The Sierra Club, invoking the FOIA, sought many records generated by the rulemaking proceeding, and received thousands of pages. However, the Service declined to release the draft biological opinions that were created in connection with the ESA consultative process.
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Anthony B. Cavender, PillsburyMr. Cavender may be contacted at
anthony.cavender@pillsburylaw.com
Orange County Home Builder Dead at 93
April 25, 2012 —
CDJ STAFFRandall E. Presley was a homebuilder in Southern California for more than thirty years, acting as head of Presley Development Company from 1956 until selling the firm to Lyon Homes in 1987. The two companies merged in 1991 as the Presley Cos. Mr. Presley saw the need in the 1950s to provide people in Southern California with low- to medium-priced quality homes.
His firm built more than 160 communities and was among the ten largest homebuilding firms in the country, expanding beyond California. Mr. Presley was 93 when he succumbed to pneumonia. He is survived by a wife, three children, seven grandchildren, and 11 great-grandchildren.
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Hirer Liable for Injury to Subcontractor’s Employee Due to Failure to Act, Not Just Affirmative Acts, Holds Court of Appeal
December 11, 2018 —
Garret Murai - California Construction Law BlogThe Privette doctrine, named after the court case Privette v. Superior Court (1993) 5 Cal.4th 689, provides that a higher-tiered party such as an owner or general contractor is not liable for injuries sustained by employees of a lower-tiered party such as a subcontractor on a construction project. There are, however, exceptions to the Privette doctrine. One of these exceptions is known as the “retained control doctrine.”
Under the retained control doctrine, a higher-tiered party cannot avoid liability under the Privette doctrine if the higher-tiered party: (1) retains control over the conditions of the work; (2) negligently exercises control over such conditions; and (3) its negligent exercise of control contributes to the injuries sustained by the employee of the lower-tiered party.
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Garret Murai, Wendel, Rosen, Black & Dean LLPMr. Murai may be contacted at
gmurai@wendel.com
ASCE Statement on Senate Passage of the Water Resources Development Act of 2024
August 12, 2024 —
Marsia Geldert-Murphey, President of the American Society of Civil EngineersWASHINGTON — The
American Society of Civil Engineers (ASCE) commends the Senate for passing S. 4367, the Thomas R. Carper Water Resources Development Act (WRDA) of 2024. Both the House and Senate versions of WRDA will help improve America's ports and inland waterways, enhance flood risk management and storm risk reduction programs, and prioritize ecosystem restoration. ASCE now urges Congress to swiftly conference and pass a final WRDA bill in the upcoming months.
The Senate version of WRDA includes key provisions that will help ensure the ongoing operation of America's inland waterways systems, which received a 'D+' on the
2021 Report Card for America's Infrastructure, including adjustments to the cost share requirements for rehabilitation projects that receive funding the Inland Waterways Trust Fund (IWTF). These changes will ensure the IWTF remains available for future projects to help reduce the backlog of inland waterways projects. This bill also creates a Levee Owners Advisory Board, which has the potential to improve communication between the U.S. Army Corps of Engineers, other federal agencies, and levee owners and operators.
Now that the House and Senate have passed their versions of WRDA, we encourage lawmakers to include several provisions included in the House version in their final conference bill. This includes the reauthorization of the National Dam Safety Program through 2028, provisions that reduce restrictions on the amount of funds states can receive in National Dam Safety Program State Assistance Grants; improves access to the High Hazard Potential Dam Rehabilitation Grant Program; and requires the incorporation of low-head dams into the National Inventory of Dams, and an extension of the National Levee Safety program through 2033.
ABOUT THE AMERICAN SOCIETY OF CIVIL ENGINEERS
Founded in 1852, the American Society of Civil Engineers represents more than 160,000 civil engineers worldwide and is America's oldest national engineering society. ASCE works to raise awareness of the need to maintain and modernize the nation's infrastructure using sustainable and resilient practices, advocates for increasing and optimizing investment in infrastructure, and improve engineering knowledge and competency. For more information, visit www.asce.org or www.infrastructurereportcard.org and follow us on Twitter, @ASCETweets and @ASCEGovRel.
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Mechanic’s Liens- Big Exception
January 22, 2024 —
Christopher G. Hill - Construction Law MusingsMusings has discussed mechanic’s liens on
numerous occasions.
As we discussed in earlier posts, the general rule is that a
mechanic’s lien jumps to the head of the line of liens when filed. This is true in most instances. In the typical case, a contractor puts up a building and, when the owner refuses payment, it files a mechanic’s lien that takes priority over all other liens on that property, including the construction loan
deed of trust (or
mortgage, depending on your state’s property laws).
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The Law Office of Christopher G. HillMr. Hill may be contacted at
chrisghill@constructionlawva.com