Fairfield Connecticut Building Expert Directory

Residential Construction: Shrinking Now, Growing Later?

August 17, 2011 — CDJ STAFF

Jim Haugey, the Chief Economist for Reed Construction Data noted that new residential construction spending fell 0.2% in June and a slightly larger drop of 0.5% in residential remodeling. While economic growth is still low, Haugey states that homebuilders have “record low inventories.” He forecasts a shrinkage of 1.5% in 2011, followed by about 20% growth in 2012.

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New Proposed Regulations Expand CFIUS Jurisdiction Regarding Real Estate

January 20, 2020 — Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law Blog
On September 17, 2019, the U.S. Department of Treasury issued two new proposed rules for the Committee on Foreign Investment in the United States (CFIUS) implementing the Foreign Investment Risk Review Modernization Act (FIRRMA). Of particular interest to readers of this blog was the second of the proposed rules, which addressed FIRRMA’s real estate-related expansion of CFIUS jurisdiction. Pillsbury's Construction & Real Estate Law Team Read the full story... Read the court decision
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Florida Court Gives Parties Assigned a Subrogation Claim a Math Lesson

August 04, 2021 — Lian Skaf - The Subrogation Strategist
Although the focus of most subrogation cases is usually on proving liability, determining the appropriate measure of damages is just as important. Sometimes turning on a nuanced argument for recoverability, an adverse holding can significantly boost or reduce the total damages in a case. The Court of Appeal of Florida, Fourth District (Court) recently decided such an issue in a case involving subrogation, holding that the defendants owed much more than they originally anticipated. In Five Solas v. Ram Realty Servs., No. 4D19-2211 2021, 2021 Fla. App. LEXIS 7546, the Court reviewed the appropriate setoff in damages that the defendants were entitled to when measuring the recoverable damages. The Court reversed the lower court’s holding, which held that the defendants were entitled to a setoff that limited the jury’s award to $104,481.75. Instead the Court held that the defendants were only entitled to a setoff equal to the excess recovery over replacement cost. The case involves, among other things, property damage sustained by building owner Five Solas (Owner) and its lessee William Price, P.A. from a collapsed wall originating from the property of the defendants, Ram Realty Services, LLC and Sodix Fern, LLC d/b/a Alexander Lofts (collectively referred to as Defendants). Owner’s carrier, Foremost Insurance Company (Foremost), paid out its policy limit of $430,518.25 to Owner for damage to the building. Owner then pursued its claim against the tortfeasors for the remaining damages not paid by its carrier.[1] Foremost also pursued a subrogation claim, but settled its subrogation claim with Defendants, assigning its subrogation rights to Defendants. Read the court decision
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Reprinted courtesy of Lian Skaf, White and Williams LLP
Mr. Skaf may be contacted at skafl@whiteandwilliams.com

No Coverage for Breach of Contract Claims Against Contractor

March 19, 2014 — Tred R. Eyerly – Insurance Law Hawaii
The U. S. District Court found there was no coverage for breach of contract claims against the contractor who walked off the job before completing the project. Pa. Nat'l Mut. Cas. Ins. Co. v. Snider, 2014 U.S. Dist. LEXIS 16920 (M.D. Ala. Feb. 11, 2014). The homeowners hired Jeff Beale to build their home for an approximate cost of $650,000. Beale said the job would take six to eight months and construction would be completed in early 2005. Construction did not begin, however, until April 2005. By 2005, the homeowners were becoming increasing displeased with Beale's progress. By March 2006, construction costs were approaching $800,000 and the home was not completed. The homeowners made progress payments on a monthly basis. Beale did not return to the home after April 2006 and another contractor was hired to complete the job. When the homeowners moved in, they discovered several construction defects, including a cracked retaining wall and water intrusion in many areas of the home. They paid over $150,000 to repair the defects, to complete work Beale left unfinished, and remove mold. Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Insurance Law Hawaii
Mr. Eyerly may be contacted at te@hawaiilawyer.com

Surviving a Tornado – How to Navigate Insurance Claims in the Wake of the Recent Connecticut Storm

May 24, 2018 — Geoffrey Miller - Saxe Doernberger & Vita, P.C.
Five minutes after I parked my car, a tree fell on it. On Tuesday, May 15th I pulled into my driveway, in my small Connecticut neighborhood, under a grey sky. As soon as I walked in the house, the lights flickered. And then suddenly there was a loud “Crack!” and “Crash!” and the sound of breaking glass. I looked out the window and trees were bent 90 degrees, then snapping, and then flying up instead of falling down. As quickly as it came, it passed. When I stepped outside, my first thought was that my car has seen better days. Read the court decision
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Reprinted courtesy of Geoffrey Miller, Saxe Doernberger & Vita, P.C.
Mr. Miller may be contacted at gjm@sdvlaw.com

Panama Weighs Another Canal Expansion at Centennial Mark

August 20, 2014 — Michael McDonald – Bloomberg
A century after the U.S. steamship Ancon first sailed through the Panama Canal, a $5.3 billion expansion delayed by bickering contractors and angry workers is nearing completion. The problem is it might not be big enough. With the expansion 16 months behind schedule, canal administrator Jorge Quijano said officials are studying whether to dig a fourth set of locks to handle a growing fleet of super-sized ships. Those include the 400-meter-long “Triple E” vessels capable of carrying more than 18,000 containers, four times more than current ships passing through the canal. “We are always analyzing the market and as soon as we can economically justify it we will begin,” said Manuel Benitez, deputy administrator of the Panama Canal Authority, adding that he thinks the current expansion is sufficient for now. “If that changes and the demand exists we are ready to begin.” Read the court decision
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Reprinted courtesy of Michael McDonald, Bloomberg
Mr. McDonald may be contacted at mmcdonald87@bloomberg.net

Latest Updates On The Coronavirus Pandemic

March 30, 2020 — ENR Editors - Engineering News-Record
Coronavirus has struck a heavy blow against the world economy as it forces countries into lockdown with "closed for business" signs, hollows out the tourism, travel and hospitality sectors, turns out the lights on business gatherings and events, sends employees home to work and drives the stock market into a dizzying tumble. ENR Editors ENR may be contacted at ENR.com@bnpmedia.com Read the full story for ENR's ongoing reporting, analysis and commentary on construction sector developments Read the court decision
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Mortgage Whistleblower Stands Alone as U.S. Won’t Join Lawsuit

April 28, 2014 — Jef Feeley and David McLaughlin – Bloomberg
Two years after Lynn Szymoniak helped the U.S. recover $95 million from Bank of America Corp. and other lenders for mortgage-fraud tied to the housing bubble, the whistle-blower said the government is ignoring a chance to collect more money for identical claims against other banks. Szymoniak got $18 million when the U.S. Justice Department intervened in her foreclosure-fraud lawsuit. The government negotiated a settlement with five lenders including Bank of America and JPMorgan Chase & Co. (JPM) The other banks accused of the same behavior, including Deutsche Bank AG (DBK) and HSBC Holdings Plc (HSBA), are still fighting Szymoniak’s suit, saying she isn’t a true whistle-blower. And the U.S., while continuing its crackdown on banks that packaged risky loans for sale as securities, hasn’t joined with her this time, leaving her to fight the banks alone. U.S. District Judge Joseph Anderson in Columbia, South Carolina, today is set to consider their bid to throw the case out. Mr. Feeley may be contacted at jfeeley@bloomberg.net; Mr. McLaughlin may be contacted at dmclaughlin9@bloomberg.net Read the court decision
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Reprinted courtesy of Jef Feeley and David McLaughlin, Bloomberg

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