Fairfield Connecticut Building Expert Directory

Hovnanian Reports “A Year of Solid Profitability”

December 30, 2013 — CDJ STAFF
Hovnanian Enterprises has released its results for its fourth quarter and the twelve months ending in October 2013, which are described by Ara K. Havnanian, the company’s Chairman of the Board, President and Chief Executive Officer as “a year of solid profitability,” which he attributes to “revenue growth, gross margin improvement and operating efficiencies,” as reported by The Wall Street Journal. The company’s total revenues for 2013 were $1.85 billion, a 24.2% increase over the 2012 totals. Home sales totaled 5,930, a 10.7% increase over the prior year. Mr. Hovnanian expects “increased demand for new homes,” and he believes that “our industry is still in the early stages of a housing recovery.” Read the court decision
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Three Reasons Late Payments Persist in the Construction Industry

December 22, 2019 — Patrick Hogan - Construction Executive
Construction professionals are all too familiar with the payment issues that plague the construction industry. Contractors, subcontractors and material suppliers often have to deal with payment delays and even nonpayment—affecting cash flow and their ability to meet expenses. According to an Atradius study, a quarter of all B2B invoices issued in North America are overdue. The construction industry accounted for one-third of those past-due invoices, and many contractors and construction business owners do not have a positive outlook on the industry's payment issues. The same survey found 55% of U.S. firms think there will be no change in the industry’s payment practices over the coming months—one-third even expects an increase in late payments. These findings show that managing cash flow is a significant challenge in the construction industry. Having a negative cash flow will push the company toward financial trouble, which may ultimately lead to its demise. Understanding the reasons why payment issues persist in construction will help contractors protect their business, prevent these issues from happening or at least minimize their effect on the current operations. Reprinted courtesy of Patrick Hogan, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Solar Power Inc. to Build 30-Megawatt Project in Inner Mongolia

October 15, 2014 — Justin Doom – Bloomberg
Solar Power Inc. (SOPW), a renewable-energy developer backed by China’s LDK Solar Co., has agreed to build a solar farm with 30 megawatts of capacity in Inner Mongolia. Solar Power’s Xinyu Xinwei New Energy unit signed a construction agreement with Alxa League ZhiWei PV Power Co., the Roseville, California-based company said today in a statement. The project is expected to connect to the power grid by the end of March. Financial terms weren’t disclosed. It’s Solar Power’s second accord this month to build a project in China’s Inner Mongolia Region. Solar Power also is building a 20-megawatt power plant in Wulaichabu City. Read the court decision
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Reprinted courtesy of Justin Doom, Bloomberg
Mr. Doom may be contacted at jdoom1@bloomberg.net

AAA Revises its Construction Industry Arbitration Rules and Mediation Procedures

April 02, 2024 — Garret Murai - California Construction Law Blog
This one is for the lawyers. Or for those of you who are claims-minded . . . Effective March 1, 2024, the American Arbitration Association (“AAA”) revised its Construction Industry Arbitration Rules and Mediation Procedures. For those involved in construction, this is important since the AAA Rules are the default arbitration rules contained in AIA form contracts and are often the arbitration rules referenced in other construction contracts as well. So, what are the changes?

General: Fax numbers have gone the way of the Dodo bird and replaced by email addresses for all parties. Also, while already done in practice, preliminary hearings may now be held via videoconference in addition to telephone and in-person (Rule R-23).

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Reprinted courtesy of Garret Murai, Nomos LLP
Mr. Murai may be contacted at gmurai@nomosllp.com

Social Engineering Scams Are On the Rise – Do I Have Insurance Coverage for That?

June 01, 2020 — Jeffrey Dennis & Heather Whitehead - Newmeyer Dillion
Cyber attackers all know that the majority of organizations are currently working from home due to the ongoing COVID-19 (commonly referred to as the Coronavirus) pandemic. And, as would be expected, social engineering scams are on the rise. Nonetheless, there may be limitations in your cyber liability insurance policy for these types of claims. It is advisable to take the initiative to review such insurance policies in detail for coverage considerations prior to the occurrence of any cyber incident. And, of course, protect your business from attacks by engaging in precautious cyber safety efforts. What Is Social Engineering? Social engineering refers to various means to manipulate individuals in the online environment so that they divulge sensitive, personal information, such as banking information, which may include account numbers and passwords. This can also take the form of receiving a request to transfer funds to what the victim believes is another employee, trusted financial information or other party with whom the person has a business relationship with. Unfortunately, however, those funds ultimately are received by the engineer of the cyber attack. Reprinted courtesy of Jeffrey M. Dennis, Newmeyer Dillion and Heather Whitehead, Newmeyer Dillion Mr. Dennis may be contacted at jeff.dennis@ndlf.com Ms. Whitehead may be contacted at heather.whitehead@ndlf.com Read the court decision
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Ahlers Cressman & Sleight Nationally Ranked as a 2020 “Best Law Firm” by U.S. News – Best Lawyers®

December 22, 2019 — Ahlers Cressman & Sleight
Ahlers Cressman & Sleight is pleased to be recognized by U.S. News – Best Lawyers ® as one of the top construction firms in the United States. The firm received metropolitan Tier 1 rankings in both Construction Law and Construction Litigation. In the national rankings, ACS one of just five Washington firms that was ranked for Construction Law (Tier 3) and one of six that received national rankings for Litigation – Construction (Tier 2). Only one other firm in Washington received a Tier 2 national ranking in Construction Litigation. The U.S. News – Best Lawyers® “Best Law Firms” rankings are based on a rigorous evaluation process that includes the collection of client and lawyer evaluations, peer review from leading attorneys in the field, and review of additional information provided by law firms as part of the formal submission process. Read the court decision
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Reprinted courtesy of Ahlers Cressman & Sleight PLLC

Texas Supreme Court Holds Stipulated Extrinsic Evidence May Be Considered in Determining Duty to Defend

May 10, 2022 — Tred R. Eyerly - Insurance Law Hawaii
Responding to certified questions from the Fifth Circuit, the Texas Supreme Court held that in limited circumstances, extrinsic evidence may be considered in determining the duty to defend. Monroe Guar. Ins. Co. v. Bitco Gen. Ins. Corp., 2022 Tex. LEXIS 148 (Tex. Feb. 11, 2022). The two insurers each provided CGL coverage to the insured, 5D Drilling & Pump Service, Inc., at different times. BIitco provided two consecutive one-year CGL policies covering October 2013 to October 2015. Monroe's CGL policy covered 5D from October 2015 to October 2016. 5D was sued by David Jones for breach of contract and negligence, seeking damage allegedly resulting from 5D's drilling operations on Jones's property. Jones contracted with 5D in the summer of 2014 to drill a 3600-foot irrigation well on his farmland. The complaint did not detail when 5D's purportedly negligent acts occurred or even when 5D began or stopped the work. Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Damon Key Leong Kupchak Hastert
Mr. Eyerly may be contacted at te@hawaiilawyer.com

Contract Should Have Clear and Definite Terms to Avoid a Patent Ambiguity

December 11, 2023 — David Adelstein - Florida Construction Legal Updates
If you need more of a reason to have contracts with clear and definite terms, this case is it. This case exemplifies what can happen if the contract, not only does not have clear and definite terms, but contains a patent ambiguity. The contract will be deemed unenforceable which will make one of the contracting parties very unhappy! In Bowein v. Sherman, 48 Fla.L.Weekly D2208a (Fla. 6th DCA 2023), the buyer and seller entered into a real estate transaction. The transaction was for $2 Million. The purchase-and-sale agreement included the address and legal description of a parcel to be sold. However, there was a section in the agreement called “Other Terms and Conditions” which identified that the offer was actually for four properties that were being sold by the seller. When it came to closing time, the seller refused to close because the seller disputed that the $2 Million purchase price was for all four of his properties. The buyer sued the seller for specific performance to force the sale which the trial court agreed in favor of the buyer. However, the appellate court did not. First, the appellate court held that “[t]he equitable remedy of specific performance may be granted only where the parties have actually entered into a definite and certain agreement.” Bowein, supra (quotation and citation omitted). Read the court decision
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Reprinted courtesy of David Adelstein, Kirwin Norris, P.A.
Mr. Adelstein may be contacted at dma@kirwinnorris.com

FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES