Fairfield Connecticut Building Expert Directory

Transplants Send Nashville Home Market Upwards

October 10, 2013 — CDJ STAFF
Home sales and prices are up in Nashville, Tennessee, but it isn’t the locals who are responsible. “People are moving from Florida, California, Texas, Arizona. People come from New York and New Jersey and can’t believe the home values and low taxes,” said Margaret Dixon, a Tennessee realtor. And they’re moving to areas that the locals haven’t embraced. They “don’t have imaginary boundaries in their heads.” As a result, home sales are up 22% in the third quarter with a 9% rise in prices, as compared to the same quarter last year in Davidson County, where Nashville is located. In adjacent Williamson County, sales were up even more, with a 31% increase in volume and a 12% increase in price. Smyrna, home of Nissan’s LEAF electric car, saw a 25.5% increase in sales volume. Read the court decision
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New York Appellate Court Holds Insurers May Suffer Consequences of Delayed Payment of Energy Company Property and Business Interruption Claims

March 16, 2020 — Syed S. Ahmad & Geoffrey B. Fehling - Hunton Andrews Kurth
A New York appellate court recently held that renewable bio-diesel fuel manufacturer BioEnergy Development Group LLC may pursue tens of millions of dollars in damages from its insurers under two all-risk insurance policies, including amounts in excess of the policy limits, where the insurers refused to pay claims in a timely manner. BioEnergy purchased two all-risk property policies from Lloyd’s to provide coverage for its manufacturing plant in Memphis, Tennessee. A fire destroyed the Memphis plant in March 2016, eliminating BioEnergy’s production capacity and sole source of revenue. BioEnergy made claims under the policies and sought to rebuild its plant. The insurers acknowledged coverage and eventually made approximately $8 million in interim payments, but the parties disagreed over the value of the total property damage claim, which BioEnergy contended was in excess of $24 million. The disputed claim was submitted to appraisal, which resulted in the insurers agreeing to pay the full business interruption limit of $15.1 million. The insurers filed a declaratory judgment lawsuit, however, seeking to limit BioEnergy’s recovery to the policy limits of $15.1 million. BioEnergy alleged that the insurers failed to make interim payments in a timely manner after the fire and, as a result, the company suffered increased losses because it could not rebuild without the insurance proceeds. BioEnergy sought actual and consequential damages, plus attorneys’ fees, arising from the delayed payments, including payment of its business interruption losses in excess of the policy limits. Reprinted courtesy of Syed S. Ahmad, Hunton Andrews Kurth and Geoffrey B. Fehling, Hunton Andrews Kurth Mr. Ahmad may be contacted at sahmad@HuntonAK.com Mr. Fehling may be contacted at gfehling@HuntonAK.com Read the court decision
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The Pitfalls of Oral Agreements in the Construction Industry

June 28, 2021 — Matthew A. Margolis - Construction Executive
Too often, construction professionals engage with each other to handle a project or series of projects and instead of memorializing their terms in writing, the agreement between the parties consists of nothing more than a conversation and a handshake. Both parties put their trust in each other that the terms they discussed will be honored. Nevertheless, one (or both) of the parties may eventually determine that their trust was misplaced, resulting in a big-money, big-headache dispute. By having a written contract at the commencement of their relationship, these issues could have been avoided. Here are nine reasons to have a written contract. Reprinted courtesy of Matthew A. Margolis, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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Mr. Margolis may be contacted at mmargolis@sbwh.law

Staten Island Villa Was Home to Nabisco 'Nilla' Wafer Inventor

July 09, 2014 — Laura Vecsey – Bloomberg
The imposing and historic Staten Island mansion that once belonged to Gustav A. Mayer — the 19th century inventor who cooked up the recipe for the Nabisco “Nilla” wafer — has been listed for sale for $1.79 million. Although the estate has been rumored to be haunted, listing broker Jungho Kim of the Level Group confirmed, “This is not a haunted house.” In fact, the only spirits that have inhabited this mansion are the models and photographers who have used portions of the Gustav Mayer House as a spectacular setting for photo shoots. The mansion rents out about 3,000 square feet of the 7,700-square-foot home for photo shoots that wind up in the pages of Vogue, Harper’s Bazaar, W, Elle and New York Magazine. Read the court decision
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Reprinted courtesy of Laura Vecsey, Bloomberg

Asbestos Exclusion Bars Coverage

February 05, 2014 — Tred R. Eyerly - Insurance Law Hawaii
The broad asbestos exclusion found in a Business Owners policy barred coverage for the insured after it sold a building in which asbestos was discovered. Phillips v. Parmelee, 2013 Wisc. LEXIS 747 (Dec. 27, 2013). Prior to purchasing an apartment building, the insured had the building inspected. The report indicated that the building's heating supply ducts likely contained asbestos. The insured then sought to sell the building. The Real Estate Condition Report stated the insured was not aware of "asbestos or asbestos-containing materials on the premises." The buyers purchased the property. A contractor cut through asbestos-wrapped ducts, dispersing asbestos throughout the building. The buyers sued the insured for breach of contract/warranty and negligence in failing to adequately disclose defective conditions including asbestos. 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

2024 Construction Law Update

December 23, 2023 — Garret Murai - California Construction Law Blog
We would like to wish you and yours a happy holiday season as we approach 2024. The first half of the 2023-2024 legislative session saw the introduction of 3,028 bills, which, according to legislative observers, are the most bills introduced in a session in more than a decade, perhaps reflecting the fact that California has a record number of new legislators with over a quarter taking the oath of office for the first time. Of these bills, Governor Newsom signed nearly 400 into law including several impacting the construction industry related to climate change and housing affordability. Read the court decision
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Reprinted courtesy of Garret Murai, Nomos LLP
Mr. Murai may be contacted at gmurai@nomosllp.com

Blackstone Said to Sell Boston Buildings for $2.1 Billion

May 21, 2014 — Hui-yong Yu – Bloomberg
Blackstone Group LP (BX) agreed to sell five office properties in Boston to a venture led by Toronto-based Oxford Properties Group for about $2.1 billion, according to two people with knowledge of the transaction. The buildings total almost 3.3 million square feet (306,000 square meters) and are mostly in downtown Boston, said the people, who asked not to be named because the sale is private. The sale is Blackstone’s largest of U.S. office properties since the real estate market crash. Oxford plans to purchase 100 High St. and 125 Summer St., and team with JPMorgan Chase & Co. (JPM)’s asset-management unit to buy three other properties: 60 State St., 225 Franklin St. and One Memorial Drive in nearby Cambridge, the people said. Blackstone also is selling its roughly half-stake in Boston’s Rowes Wharf to part-owner Morgan Stanley (MS) for about $200 million, according to one of the people. Read the court decision
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Reprinted courtesy of Hui-yong Yu, Bloomberg
Hui-yong Yu may be contacted at hyu@bloomberg.net

Trump Order Waives Project Environment Rules to Push COVID-19 Recovery

June 15, 2020 — Debra K. Rubin, Mary B. Powers & Jim Parsons - Engineering News-Record
Citing the "national emergency" spurred by the COVID-19 pandemic's economic hit, President Donald Trump has signed an executive order that directs federal agencies to bypass environmental laws to expedite infrastructure projects, including those on federal lands, as a stimulus. Reprinted courtesy of Engineering News-Record attorneys Debra K. Rubin, Mary B. Powers and Jim Parsons Ms. Rubin may be contacted at rubind@enr.com Read the full story... Read the court decision
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FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES