Seattle Washington Building Expert Directory

Court Rejects Insurer's Argument That Two Triggers Required

May 12, 2016 — Tred R. Eyerly – Insurance Law Hawaii
The court rejected the insurer's argument that two triggers - one for exposure to asbestos and one for resulting injury - were required under CGL policies. Compass Ins. Co. v. University Mechanical and Engineering Contractors, Inc., 2016 U.S. Dist. LEXIS (N.D. Cal. March 25, 2016). University Mechanical and Engineering Contractors, Inc. (UMEC) was a California corporation in the business of installing plumbing, piping and HVAC systems. UMEC was defending a number of asbestos cases in California state courts arising from its subcontracting work. 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

Ackman Group Pays $91.5 Million for Condo at NYC’s One57

April 15, 2015 — David M. Levitt and Oshrat Carmiel – Bloomberg
A group including billionaire investor Bill Ackman paid $91.5 million for a duplex penthouse at Extell Development Co.’s One57 condominium tower, one of New York City’s most expensive home purchases ever. The purchase of unit 75 in the luxury skyscraper overlooking Central Park closed on March 27, according to property records filed Thursday. The buyer was listed as 57157 Co. LLC, a single-purpose entity that Ackman controls. The 13,554-square-foot (1,259-square-meter), six-bedroom home spans the 75th and 76th floors of the 90-story skyscraper. Ackman last year told the New York Times it was “the Mona Lisa of apartments.” Monthly common charges on the unit were estimated at $23,595, according to documents Extell filed with the state attorney general’s office. Reprinted courtesy of David M. Levitt, Bloomberg and Oshrat Carmiel, Bloomberg Read the court decision
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Pollution Exclusion Prevents Coverage for Injury Caused by Insulation

March 30, 2016 — Tred R. Eyerly – Insurance Law Hawaii
In a per curiam decision, the Fifth Circuit affirmed the district court's holding that the pollution exclusion barred coverage for bodily injury caused by the insured's insulation. Evanston Ins. Co. v. Lapolla Industries, Inc., 2015 U.S. App. LEXIS 22552 (5th Cir. Dec. 23, 2015). The homeowners' contractors installed spray polyurethane foam (SPF) insulation as part of a renovation project in the home. Lapolla manufactured the SPF. Shortly after the insulation was installed, the homeowners smelled strong odors and suffered respiratory distress, causing them to leave the home. The homeowners sued the contractor and various subcontractors for negligence and breach of contract. A third party complaint was filed against Lapolla. The homeowners also amended their complaint to assert a products-liability claim against Lapolla. 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

There’s an Unusual Thing Happening in the Housing Market

October 03, 2022 — Tracy Alloway - Bloomberg
It’s no secret that the US housing market has been softening as interest rates rise at the fastest pace in decades. Higher mortgage rates mean the dramatic growth in home prices that we’ve seen over the past two years is beginning to slow. Sales of new homes recently came in at the weakest monthly level since 2018. Meanwhile, purchase applications are down 20% year-on-year, and so on. But the rapid pace of rate hikes has also resulted in an interesting statistical anomaly. Months of supply — or the number of months it would take for the existing inventory of homes on the market to sell at the current sales pace — has jumped to 4.1 from a record low of just 2.1 back in January of this year. And, as Morgan Stanley strategist James Egan notes, rarely have we seen an increase of this size. To some extent, the jump in inventory is to be expected. It’s maths. As sales volume falls while inventories rise, months of supply naturally increases. But such a jump is intuitively striking, and the key question for housing-watchers is whether the absolute level of inventory — which is still low by many measures, even as homebuilders have ramped up construction since last year — will turn out to be more important than its rate of change. A housing market that is structurally undersupplied is going to be a lot less vulnerable to fewer sales. Read the court decision
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Reprinted courtesy of Tracy Alloway, Bloomberg

Proximity Trace Used to Monitor, Maintain Social Distancing on $1.9-Billion KCI Airport Project

September 07, 2020 — Jeff Yoders - Engineering News-Record
In order to maintain social distancing on site, steel erector National Steel City of Plymouth, Mich., is using the Proximity Trace wearable sensor from Triax Technologies on the $1.9-billion Kansas City International Airport (KCI) single-terminal reconstruction project. Jeff Yoders, Engineering News-Record Mr. Yoders may be contacted at yodersj@enr.com Read the full story... Read the court decision
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Hawaii Court of Appeals Affirms Broker's Liability for Failure to Renew Coverage

July 16, 2014 — Tred R. Eyerly – Insurance Law Hawaii
The Hawaii Intermediate Court of Appeals affirmed the jury's finding that the broker was liable for failing to secure coverage for the insureds' home. Certain Underwriters at Lloyd's London v. Vreeken, 2014 Haw. App. LEXIS 322 (Haw. Ct. App. June 30, 2014). Based upon their dealings with the broker, the insureds thought they had coverage for their home from March 3, 2004 to March 3, 2005 and from May 9, 2005 to May 8, 2006. The house was elevated nine feet above the ground for structural renovation, but collapsed on May 23, 2005. The original policy had lapsed on March 3, 2005. The second policy was voided because the application prepared by the broker stated there was no renovation work underway on the property. The insureds sued. The jury found the broker and its agent liable for general, special and punitive damages. An appeal was filed. The ICA largely affirmed after addressing the many points raised on appeal. 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

New York Team’s Win Limits Scope of Property Owners’ Duties to Workers for Hazards Inherent in Their Work

May 20, 2024 — Lewis Brisbois Newsroom
New York, N.Y. (May 9, 2024) - New York Partners Jennifer Oxman and Andrew Harms recently secured dismissal of a personal injury plaintiff’s complaint on summary judgment in Queens County, with a state judge accepting their argument that a porter who allegedly tripped and fell on loose wood in a stairwell had no cause of action against the property owner because it was his job to clean the stairs in the first instance. The porter was not an employee of the property owner, but rather an employee of a property management company. Therefore, the workers compensation bar did not apply to the employee’s claims. In a four-page decision, Justice Chereé A. Buggs of Queens County Supreme Court found that plaintiff’s duties as a porter included cleaning the stairwell and that he saw and cleaned loose pieces of wood on occasions prior to his accident. Justice Buggs held that while the wood debris likely came from an “outside source”, i.e. a contractor performing work at a neighboring building, the source of the debris was not relevant. Rather, what mattered was the fact that the hazard upon which plaintiff tripped was “inherent in or related to” plaintiff’s work responsibilities. By contrast, Justice Buggs held that the contractor who allegedly was the source of the wood was not entitled to summary judgment under the same legal theory because it arguably caused and created the hazard upon which plaintiff tripped. Read the court decision
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Reprinted courtesy of Lewis Brisbois

Revel Closing Shows Gambling Is No Sure Thing for Renewal

September 03, 2014 — Christopher Palmeri – Bloomberg
The Revel Casino Hotel was envisioned as a playground for Wall Streeters who hated flying to Las Vegas. Instead, it’s become a money pit for the banks and money managers who spearheaded the New Jersey project, and the losses will keep coming even after closing today. The Atlantic City resort, built at a cost of $2.4 billion, ceased operations after two bankruptcies and a 10-month search for a buyer. Barring a sale, the new owners may be Wells Fargo & Co. and JPMorgan Chase & Co., which provided $125 million in court-approved funding. Previous backers also included Capital Group Cos., the third-largest manager of U.S. mutual funds, and Morgan Stanley, the original investor. The resort fell prey to poor timing, bad design and a misreading of the local market. The Revel saga shows what can go wrong when bankers stray from what they know, according to Charles Geisst, a professor of finance at Manhattan College in New York and author of the book “Wall Street: A History.” Read the court decision
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Reprinted courtesy of Christopher Palmeri, Bloomberg
Mr. Palmeri may be contacted at cpalmeri1@bloomberg.net

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