Fairfield Connecticut Building Expert Directory

Mitigation, Restructuring and Bankruptcy: Small Business Tools in the Era of COVID-19

June 08, 2020 — Hannah Kreuser - Porter Law Group
The impact of the COVID-19 pandemic has been sudden and severe. Worldwide, populations are dealing with a public health crisis, which has abruptly impacted the economy. As cases continue to increase across the United States, both the federal government and state governments, including California, are directing people to “shelter in place” and “socially distance” from each other in an attempt to curb the spread of the virus. These orders have generally shut down daily life except for “essential” businesses. As a direct result, the economy has come to an abrupt halt and many businesses have been forced to close or significantly reduce their operations. Concern for this economic impact is, in part, due to the speed and severity with which it has affected so many industries. With the current economic conditions, there is much speculation that bankruptcy filings, among not only individuals, but small businesses, will see a sudden increase in the coming months. Experts agree that filings will increase, the only question is when. Because of COVID-19’s economic impact, it is important that businesses make an assessment now, regarding their needs, assets, and liabilities, so they can best prepare to survive COVID-19, or to take proactive steps in preparing to enter bankruptcy or wind down. In making this assessment, one of the questions to ask is whether the business can survive with quick financing, to help bridge the gap between the current operating conditions and their return to normal. Read the court decision
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Reprinted courtesy of Hannah Kreuser, Porter Law Group
Ms. Kreuser may be contacted at hkreuser@porterlaw.com

Navigating Casualty Challenges and Opportunities

October 07, 2024 — Kyle Sternadori - The Hartford
US casualty has arguably been the hottest topic in the sector over the last year amid growing concerns over deteriorating loss trends. E&S Insurer talks to Kyle Sternadori, head of wholesale excess casualty at Navigators, a brand of The Hartford. Featured in the July 2024 edition of E&S Insurer. How are you approaching current E&S excess casualty market dynamics? We are focusing on loss trends, such as rising loss costs, and staying ahead of those trends. As an excess market there are ways to do that: managing capacity and limits deployment across the portfolio; working internally amongst claims, actuarial, data science to stay ahead of that; and using your own data. Staying ahead of the curve is essentially what we're trying to do. It started for us probably even before the market hardened. You saw towers of coverage that used to be maybe three markets and nowadays it could be 10 to 15 markets for similar coverage, with each market minimizing its downside. Read the court decision
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Reprinted courtesy of Kyle Sternadori, The Hartford

At Least 46 Killed in Taiwanese Apartment Building Inferno

November 01, 2021 — The Associated Press (Huizhong Wu)- Bloomberg
Kaohsiung, Taiwan (AP) -- At least 46 people were killed and another 41 injured after a fire broke out early Thursday in a run-down mixed commercial and residential building in the Taiwanese port city of Kaohsiung, officials said. Neighborhood residents said the 13-story building was home to many poor, elderly and disabled people and it wasn’t clear how many of the 120 units were occupied. Witnesses said they heard something that sounded like an explosion at about 3 a.m. when the blaze erupted in the building's lower floors, which housed a closed movie theater, abandoned restaurants and karaoke clubs. Read the court decision
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Reprinted courtesy of Bloomberg

Cincinnati Goes Green

May 10, 2013 — CDJ STAFF
Columbus Dispatch reports that under a program in Cincinnati, homeowners can receive tax breaks that eliminate their property taxes for up to fifteen years. As a result, while about 100 single-family homes in Cincinnati are LEED-certified, Columbus can claim only one. The rest of the state also lags behind, with only eighteen percent of LEED-certified homes outside Cincinnati. Jim Weiker reports that energy efficiency is at the top of homebuyers’ wants, even beating out granite countertops. But although green certification seems to support a four percent increase in price, builders aren’t rushing to follow LEED standards. Read the court decision
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A Teaming Agreement is Still a Contract (or, Be Careful with Agreements to Agree)

November 18, 2019 — Christopher G. Hill - Construction Law Musings
I have discussed teaming agreements in this past here at Construction Law Musings. These agreements are most typically where one of two entities meets a contracting requirement but may not have the capacity to fulfill a contract on its own so brings in another entity to assist. However, these agreements are contracts and are treated as such here in Virginia with all of the law of contracts behind them. One illustrative case occurred here in Virginia and was decided by the Virginia Supreme Court. That case is CGI Fed. Inc. v. FCi Fed. Inc. While this is not strictly a “construction” case, it helps lay out some of the pitfalls of teaming agreements in general. In this case, the parties entered into a fairly typical small business (FCI) Big Business (CGI) teaming arrangement for the processing of visas for the State Department. The parties negotiated the workshare percentage (read payment percentage) should FCI get the work and the teaming agreement set out a framework for the negotiation of a subcontract between FCI, the proposed general contractor, and CGI, the proposed subcontractor. After a while working together, FCI submitted a proposal to the State Department and as part of the negotiations of this proposal, the work percentage for CGI was lowered in exchange for some management positions for CGI relative to the work by amendment to the original teaming agreement. However, one day later FCI submitted a proposal to the State Department that not only didn’t include the management positions, but further lowered CGI’s workshare. Read the court decision
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Reprinted courtesy of The Law Office of Christopher G. Hill
Mr. Hill may be contacted at chrisghill@constructionlawva.com

Judge Tells DOL to Cork its Pistol as New Overtime Rule is Blocked

November 23, 2016 — Evelin Y. Bailey – California Construction Law Blog
Earlier this year we informed you that the federal Department of Labor intended to raise the minimum salary for individuals classified as executive, administrative, and professional (“white collar”) exempt employees. The result? About 4.2 million workers classified as exempt would become eligible for overtime pay on December 1, 2016, the effective date of the new rule. Businesses would need to pay $47,476 starting on December 1, 2016 to maintain the exempt status of workers. However, a combination of business groups and states sued to invalidate the regulation, requesting expedited and emergency injunctive relief. On November 22, 2016, a federal district court in Texas granted the emergency motion for a preliminary injunction barring the DOL from enforcing its new overtime rule. The injunction will remain until the resolution of this legal challenge to the rule. Read the court decision
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Reprinted courtesy of Evelin Y. Bailey, California Construction Law Blog
Ms. Bailey may be contacted at ebailey@wendel.com

Is New York Heading for a Construction Defect Boom?

March 12, 2015 — Beverley BevenFlorez-CDJ STAFF
The New York Times reported that “[t]here is growing concern that some developers are repeating the mistakes of the last housing boom and delivering substandard product.” “My phone is ringing already on projects that were just completed,” Steven D. Sladkus, a Manhattan real estate lawyer who says his firm has dozens of active construction defect cases, told the New York Times. “Uh-oh, here we go again.” Recent data shows a rising trend of building plans in New York: “Last year, the city issued construction permits for 20,300 units of housing, according to the Real Estate Board of New York. And the state attorney general’s office received submissions for 263 offering plans for condo conversions and new construction in 2014, up from 184 in 2011. Those numbers will most likely grow in 2015, encouraged by Mayor Bill de Blasio’s push to build more housing.” Read the court decision
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Transportation Officials Make the Best of a Bumpy 2020

January 18, 2021 — Jim Parsons & Aileen Cho - Engineering News-Record
The year 2020 provided a bumpy budgetary ride for all modes of transportation, and some industry insiders don’t expect airport and transit ridership to return to pre-pandemic levels for years. Agencies are taking lessons learned, coupled with hopes for the new Biden administration, to carry on as best they can. Reprinted courtesy of Jim Parsons, Engineering News-Record and Aileen Cho, Engineering News-Record Ms. Cho may be contacted at choa@enr.com Read the full story... Read the court decision
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FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES