Seattle Washington Building Expert Directory

D&O Insurer Must Cover Mortgage Broker’s $15 Million Settlement of Alleged False Claims Act Violations

November 15, 2022 — Michael S. Levine, Geoffrey B. Fehling & Matthew J. Revis - Hunton Insurance Recovery Blog
A Delaware court recently granted summary judgment to a mortgage broker targeted in a federal government investigation for alleged False Claims Act violations, holding that the company’s directors and officers liability (“D&O”) insurer was required to indemnify more than $15 million in settlement costs with the U.S. Department of Justice. Guaranteed Rate, Inc. v. ACE American Insurance Company, No. N20C-04-268 MMJ CCLD (Del. Super. Ct. Sept. 6, 2022). We previously reported on the policyholder’s earlier victory in this case, in which the court held that a Civil Investigative Demand (“CID”) from federal authorities triggered the insurer’s obligation to pay defense costs under the D&O policy. Reprinted courtesy of Michael S. Levine, Hunton Andrews Kurth, Geoffrey B. Fehling, Hunton Andrews Kurth and Matthew J. Revis, Hunton Andrews Kurth Mr. Levine may be contacted at mlevine@HuntonAK.com Mr. Fehling may be contacted at gfehling@HuntonAK.com Mr. Revis may be contacted at mrevis@HuntonAK.com Read the court decision
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Purse Tycoon Aims at Ultra-Rich With $85 Million Home

September 24, 2014 — John Gittelsohn and Nadja Brandt – Bloomberg
The eight-bedroom, 15-bath Beverly Hills, California, mansion has $5,600 toilets, a wall of caramel onyx and an 18-seat screening room with doors clad in Italian lizard skin. Asking price: $85 million. Rapper Jay Z has taken two tours of the hillside aerie with views that sweep from downtown Los Angeles to the Pacific Ocean. The estate was developed by Bruce Makowsky, who made his fortune selling handbags through department stores and the QVC television channel. “There was a void of homes for super-wealthy people, and that’s why I did it,” Makowsky said while sitting near a curved 54-foot (16-meter) glass wall that slides open to an infinity pool with iPad-controlled fountains. “I don’t think there’s anybody who’s served up $85 million-to-$100 million homes at this level for somebody to step into and buy.” Mr. Gittelsohn may be contacted at johngitt@bloomberg.net; Ms. Brandt may be contacted at nbrandt@bloomberg.net Read the court decision
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Reprinted courtesy of John Gittelsohn and Nadja Brandt, Bloomberg

ETF Bulls Bet Spring Will Thaw the U.S. Housing Market

April 08, 2014 — Corinne Gretler – Bloomberg
Build it and they will come, if it’s not too chilly. Traders have turned bullish on a security that tracks home construction companies, appliance makers and furniture retailers as spring finally ends the harsh winter. As the SPDR S&P Homebuilders ETF (XHB) heads for its first weekly gain since February, investors are buying options betting that the rebound will keep going. The cost of bullish contracts has risen to the highest versus bearish ones in 2 ½ years. The ETF has gained 2.2 percent this week. The exchange-traded fund of companies such as Ryland Group Inc., Whirlpool Corp. and Home Depot Inc. has rebounded 8 percent after reaching its lowest level this year on Feb. 3 as investors attribute weakness in the housing market to winter weather. Between December and February, snow covered 1.42 million square miles of the continental U.S., the 10th-largest snow cover in records going back to 1966, according to the National Climatic Data Center. Read the court decision
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Reprinted courtesy of Corinne Gretler, Bloomberg
Ms. Gretler may be contacted at cgretler1@bloomberg.net

Beware of Personal-Liability Clauses – Even When Signing in Your Representative Capacity

January 31, 2018 — David R. Cook Jr. – Autry, Hall & Cook, LLP
When a contract is drafted by a party, the other party expects some level of one-sidedness in favor of the drafter. But there are times when a contract goes too far. There are certain provisions that most persons in the construction industry would find unacceptable, unfair, and beyond the pale – even for a one-sided contract. Such a provision was arguably found in an electrical subcontract at issue in a 2014 opinion by a three-judge panel of the Georgia Court of Appeals. Unfortunately, due to long-standing Georgia law, the panel was forced to apply the provision as written. In the case, a contractor hired a subcontractor to perform the electrical scope of work. When the subcontractor failed to pay a sub-subcontractor, the sub-subcontractor filed suit against the subcontractor, contractor, and the payment-bond surety. The contractor asserted a claim of indemnity against the subcontractor based on the sub-subcontractor’s claim. Read the court decision
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Reprinted courtesy of David R. Cook Jr., Autry, Hall & Cook, LLP
Mr. Cook may be contacted at cook@ahclaw.com

99-Year-Old Transmission Tower Seen as Possible Cause of Devastating Calif. Wildfire

December 11, 2018 — Contra Costa Times - Engineering News-Record
Dec. 08 --PULGA -- With winds gusting around 50 mph in the morning hours of Nov. 8 , portions of a PG&E steel lattice transmission tower -- exposed to the elements high on a ridgetop and originally built when Woodrow Wilson was president -- failed. As high-voltage lines got loose and whipped around, striking the metal tower, molten aluminum and metal sprayed across tinder dry vegetation, igniting the brush. Arriving firefighters could only watch as the blaze underneath the power lines quickly spread to wild timber and brush. Read the court decision
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Reprinted courtesy of Engineering News-Record
ENR may be contacted at ENR.com@bnpmedia.com

Editorial: Qatar Is Champion of Safety Hypocrisy in Migrant Worker Deaths

December 26, 2022 — ENR Editorial Board - Engineering News-Record
Once the World Cup soccer tournament concludes, decency dictates that someone should put a wrecking ball to Qatar’s Al Bayt and Lusail stadiums, where the opening ceremonies and matches were held. There’s no polite way to say it: bulldozing the World Cup sports facilities is the only way to amplify to the world the cost in migrant construction workers lives in all that was constructed. Reprinted courtesy of ENR Editorial Board, Engineering News-Record ENR may be contacted at enr@enr.com Read the full story... Read the court decision
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Contract Change #1- Insurance in the A201 (law note)

April 11, 2018 — Melissa Dewey Brumback – Construction Law in North Carolina
Insurance– everyone needs it; everyone would just as soon not have to deal with it. I get it, I do. Attorneys, Insurance Agents– no one likes spending time with those folk! Good news though. The changes to the A201 mean that you may end up spending less time with both! The most important change to the Insurance requirements of the AIA contract is that most of it has moved to a new Exhibit. Why is this important? Instead of having to send the entire contract to your agent or broker, you can now send them only the section that they really need to review for compliance. This also means that if insurance policies change (as they surely will), the entire contract document does not need to be re-written– the Exhibit can be updated accordingly, leaving the rest of the A201 alone. Nice, right? This change was made to streamline insurance review and provide for that flexibility of the changing insurance market. Read the court decision
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Reprinted courtesy of Melissa Dewey Brumback, Ragsdale Liggett PLLC
Ms. Brumback may be contacted at mbrumback@rl-law.com

The Pandemic, Proposed Federal Privacy Regulation and the CCPA

November 02, 2020 — Heather Whitehead - Newmeyer Dillion
The U.S. Senate Committee on Commerce, Science and Transportation met recently to discuss considerations for implementing federal privacy laws. Not surprisingly, the main impetus to reevaluate a federal framework is the ongoing COVID-19 pandemic with the greatly increased reliance on online working and school arrangements, as well as the need to share personal information for contact tracing and other efforts to weaken the pandemic. While federal regulation of personal information has been proposed in the past, there are a few key issues that still remain unresolved. One is enforcement of the regulations. The issue is whether enforcement should be handled by the Federal Trade Commission or if the establishment of a new federal authority is needed to enforce privacy requirement violations. Other key outstanding issues include pre-emption of state rights and whether any regulations should include a private right of action. Given that the California Consumer Privacy Act of 2018 (CCPA) is the most stringent state regulation addressing data privacy in the United States, California Attorney General Xavier Becerra participated as a witness in the recent Senate Hearing. He shared his opinions as to both federal pre-emption and the need for a private right of action. He recommended that the committee preclude federal regulation from pre-empting state laws, including the CCPA. He noted that individual states are in a better position to adapt and keep up with technological innovation, and that some states have also already implemented thorough privacy protections, such as Mississippi and Washington. With respect to the private right of action, he admitted his office can only do so much to enforce these regulations amongst California’s huge population of businesses and residents. His belief is that individual consumers need the ability to pursue their own remedies in court. Read the court decision
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Reprinted courtesy of Heather Whitehead, Newmeyer Dillion
Ms. Whitehead may be contacted at heather.whitehead@ndlf.com

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