Fairfield Connecticut Building Expert Directory

Millennials Want Houses, Just Like Everybody Else

September 17, 2014 — Peter Coy – Bloomberg
The proportion of homeownership among young adults has fallen from a third to a quarter over the past half-century. But the idea that today’s millennials are allergic to deeds and mortgages is a myth, says a report based on a survey of more than 1,000 Americans aged 18-29 by the Demand Institute, a nonprofit jointly operated by the Conference Board and Nielsen (NLSN). “Like most myths, there is some truth here—but only some,” says the report’s introduction. The true part is that millennials are financially squeezed because of “graduating into a weak job market with growing student loan debt,” Jeremy Burbank, a Demand Institute vice president, said in a statement. The false part, the report says, is that millennials don’t want to own their homes. Read the court decision
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Reprinted courtesy of Peter Coy, Bloomberg
Mr. Coy may be contacted at pcoy3@bloomberg.net

To Catch a Thief

March 06, 2023 — Christopher Durso - Construction Executive
Tony Rader calls it “peeling back the onion”—the slow, methodical process of uncovering the full extent of an embezzlement scam that eventually totaled more than $1 million. What National Roofing Partners (NRP) first discovered was bad enough. The Coppell, Texas–headquartered company, which oversees a nationwide network of nearly 250 commercial roofing contractors, learned in 2018 that a South Texas firm called Statewide Texas Roofing was billing clients for work on behalf of NRP and pocketing all the money. It turned out to be a scheme masterminded by NRP’s then-president, who created Statewide, staffed the company with his kids and used phony work orders to steal hundreds of thousands of dollars in client fees from NRP. He’d been president for six years and with the company since it was created in 2007. It was a huge betrayal—and still just the tip of the iceberg. “Initially, we thought it was only half a million [dollars] or so,” says Tony Rader, NRP’s chief operating officer. “But I’ll never forget, [Chief Executive Officer] Steve [Little] and I were talking over a bourbon one night, and that’s when I told him, ‘I’ve seen this once before, and this is like an onion. You’ve only peeled off the outer layers. We’re going to be finding stuff for a year, and it’s just going to get bigger and bigger and bigger.’ He said, ‘You think?’ And I said, ‘Oh, I’m pretty sure.’” Rader was all too correct. Working with a third-party forensic accountant, NRP found that not only were its then-chief financial officer and several other employees involved in the scheme, but the president had also abused his corporate credit card, racking up personal charges going back to 2013—on luxury vacations, expensive dinners, clothes, jewelry, even his daughter’s destination wedding in Jamaica. The final tally on his scams: $1.4 million. Reprinted courtesy of Christopher Durso, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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When Construction Contracts Go Sideways in Bankruptcy

February 16, 2017 — Tracy Green - California Construction Law Blog
The contractor on a project files a bankruptcy case. How should the property owner and subcontractors proceed? When a party to a contract files bankruptcy, the other party’s actions are constrained by the bankruptcy code. Types of Bankruptcies The typical bankruptcy case involves a chapter 7 complete liquidation, chapter 13 reorganization for an individual, or a chapter 11 reorganization or liquidation. In a chapter 7 the business ceases to operate and a panel trustee is appointed immediately upon the filing of the case. The chapter 7 trustee’s duties are to liquidate assets for the benefit of creditors and to prosecute litigation that can result in assets for the creditors. In a chapter 13, the individual debtor continues to operate, and there is a trustee, but the trustee’s roll is limited to reviewing the chapter 13 plan and making sure that the plan is performed. In a chapter 11, the debtor retains control of its assets and continues to operate its business until a plan is confirmed. During the chapter 11 period before a plan is approved, the debtor will decide which contracts it wants to assume or reject, all while operating the company and preparing a plan. Read the court decision
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Reprinted courtesy of Tracy Green, Wendel Rosen Black & Dean LLP
Ms. Green may be contacted at tgreen@wendel.com

Quick Note: Aim to Avoid a Stay to your Miller Act Payment Bond Claim

February 23, 2017 — David Adelstein – Florida Construction Legal Updates
Strategy is important. This is especially true if you are trying to avoid arbitration. In a recent federal district court case, a subcontractor sued the prime contractor and the Miller Act payment bond surety. The subcontractor, however, had an arbitration provision in its subcontract with the prime contractor. The prime contractor moved to compel arbitration pursuant to the subcontract and moved to stay the subcontractor’s Miller Act payment bond claim. The last thing, and I mean the last thing, the subcontractor wanted to do was to stay its claim against the Miller Act payment bond. However, the district court compelled the subcontractor’s claim against the prime contractor to arbitration and stayed the subcontractor’s Miller Act payment bond claim pending the outcome of the arbitration. See U.S. v. International Fidelity Ins. Co., 2017 WL 495614 (S.D.Al. 2017). This is not what the subcontractor wanted. Read the court decision
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Reprinted courtesy of David Adelstein, Florida Construction Legal Updates
Mr. Adelstein may be contacted at dadelstein@gmail.com

The 2023 Term of the Supreme Court: Administrative and Regulatory Law Rulings

December 03, 2024 — Anthony B. Cavender - Gravel2Gavel Construction & Real Estate Law Blog
It is instructive to review the Supreme Court’s record in its most recent term, concentrating on regulatory and administrative law cases, which are usually back-burner issues. But not this term. The Supreme Court began the current term on October 7, 2024. The Court has already chosen many cases to review in the new term, and it promises to be as interesting as the 2023 term, which produced several significant rulings affecting regulatory and administrative law, chiefly the Loper Bright Enterprises ruling. Loper Bright overturned the Court’s landmark administrative law ruling of Chevron, USA v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984). The Background to Loper Bright In 1984, the Supreme Court decided Chevron USA, Inc. v. National Resource Defense Council. (See 467 U.S. 839 (1984).) The unanimous decision, written by Justice Stevens, reversed then-D.C. Circuit Judge Ruth Bader Ginsburg’s ruling that set aside EPA’s Clean Air Act “bubble policy,” which was intended to provide regulatory relief from certain EPA permitting requirements. Read the court decision
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Reprinted courtesy of Anthony B. Cavender, Pillsbury
Mr. Cavender may be contacted at anthony.cavender@pillsburylaw.com

Delay In Noticing Insurer of Loss is Not Prejudicial

April 28, 2014 — Tred R. Eyerly – Insurance Law Hawaii
The Tenth Circuit reversed a district court's determination that untimely notice of the loss was prejudicial, eliminating the insurer's coverage obligations. B.S.C. Holding, Inc. v. Lexington Ins. Co., 2014 U.S. App. LEXIS 4492 (10th Cir. March 11, 2014). In January 2008, the insured's employees detected an inflow of water in a salt mine and feared dissolution of the salt or structural problems. The insured tried to devise a solution. Two and a half million dollars were spent to find the cause of the water inflow and to identify a solution. In April 2010, the insured determined the inflow was caused by an improperly sealed oil well. In July 2010, the insured notified Lexington of the water inflow. The ultimate proof of loss was for $7.5 million, which included remediation measures that the insured had performed before notifying Lexington. Lexington's all-risk policy required the insured to notify the company in writing as soon as practicable. 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

Understand and Define Key Substantive Contract Provisions

March 23, 2020 — Phillip L. Sampson Jr. & Richard F. Whiteley, Construction Executive
The following contract provisions should be clearly understood before undertaking any construction project commences. Force Majeure Often referred to as an “Act of God,” a force majeure is an event, typically beyond the parties’ control, that prevents performance under a contract. To determine if a contractor need a force majeure clause in its contract, it should ask whether there may be instances where events beyond the contractor’s control could impact its contractual performance? If so, it will want this clause. Courts currently treat force majeure as an issue of contractual interpretation, focusing on the express language in the contract. Consequently, the scope and applicability of a force majeure clause depends on the contract’s terms. Using broad language in a force majeure clause may help protect against unforeseen events. But to the extent possible, parties should describe with particularity the circumstances intended to constitute a force majeure. The law relating to force majeure also fairly consistently provides that parties cannot avoid contractual obligations because performance has become economically burdensome. Courts have refused to apply force majeure clauses where an event only affects profitability. Recent attempts to categorize tariffs on construction materials as a force majeure have failed. Unless a tariff or tax is specifically listed as a force majeure event, it is unlikely to constitute a force majeure because it only affects profitability. Reprinted courtesy of Phillip L. Sampson Jr. & Richard F. Whiteley, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Jersey City, New Jersey, to Get 95-Story Condo Tower

January 21, 2015 — David M. Levitt and Terrence Dopp – Bloomberg
A Chinese developer is planning a 95-story condominium tower for the Jersey City, New Jersey, waterfront that would be the tallest building in the state. China Overseas America Inc. plans to construct the 950-foot (290-meter) building at 99 Hudson St., according to a statement on Tuesday from Mayor Steven Fulop. The skyscraper, with 760 for-sale dwellings, would surpass the Goldman Sachs Group Inc. tower two blocks to the south, which is 781 feet tall, according to the statement. Mr. Levitt may be contacted at dlevitt@bloomberg.net; Mr. Dopp may be contacted at tdopp@bloomberg.net Read the court decision
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Reprinted courtesy of David M. Levitt and Terrence Dopp, Bloomberg

FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES