Big Builder’s Analysis of the Top Ten Richest Counties
June 26, 2014 —
Beverley BevenFlorez-CDJ STAFFBig Builder took Forbes’ 2014 top ten richest U.S. counties list (based on household median income) and researched who the top builders were in those regions, buyer requirements, among other categories. The top three richest counties according to Forbes and Big Builder are Falls Church, Virginia; Loudoun County, Virginia; and Los Alamos County, New Mexico.
Information listed for each county include the median-closing price, price per square foot, living square feet, top builders, and an examination of what makes each region unique.
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Economic Damages Cannot be Based On Speculation
October 16, 2018 —
David Adelstein - Florida Construction Legal UpdatesEconomic damages, unlike non-economic damages (such as those in personal injury disputes), need to rest on a reasonable basis. Economic damages are those routinely seen in a construction dispute. These damages cannot be based on conjecture or guesswork and need to be supported by competent substantial evidence. Otherwise, the economic damages will be deemed too speculative because they are not reasonably quantifiable. I recently discussed a case involving the professional boxer Canelo Alvarez that was sued by a former promoter for unjust enrichment. Although the promoter recovered a jury verdict for unjust enrichment damages against Canelo Alvarez, the verdict was reversed because the methodology utilized by the promoter to demonstrate damages was speculative. This is definitely not what a plaintiff wants to happen after prevailing at the trial level!
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David Adelstein, Kirwin NorrisMr. Adelstein may be contacted at
dma@kirwinnorris.com
Mortgage Bonds Stare Down End of Fed Easing as Gains Persist
October 29, 2014 —
Jody Shenn – BloombergThe end of the Federal Reserve’s third round of bond purchases is proving to be a non-event for mortgage-backed debt.
That’s partly because even though the U.S. central bank won’t be adding more home-loan securities to its balance sheet, policy makers will still be buying enough to prevent its holdings from shrinking. Those purchases are having a greater impact as the pace of net issuance slows to a quarter of the amount last year amid a weaker property market.
The $5.4 trillion market for government-backed mortgage bonds is defying predictions for a slump tied to the wind-down of the Fed stimulus program, whose completion economists predict will be announced today. Yields on benchmark Fannie Mae (FNMA) notes have shrunk 0.14 percentage point this year relative to government debt, narrowing to within 1.09 percentage points of an average of five- and 10-year Treasury rates.
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Jody Shenn, BloombergMs. Shenn may be contacted at
jshenn@bloomberg.net
California Supreme Court Confirms the Right to Repair Act as the Exclusive Remedy for Seeking Relief for Defects in New Residential Construction
February 22, 2018 —
Brenda Radmacher – Construction Law BlogThe California Supreme Court recently issued its decision on a critical issue in the residential construction industry – the claims for construction defects that a California homeowner can bring against a builder or seller of new residential properties in California.
Holding
In McMillin Albany v. The Superior Court of Kern County, the Court held that California’s Right to Repair Act (California Civil Code, sections 895, et seq.) (the “Act”) is the exclusive remedy for homeowners claiming defective construction of new residences in California.
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Brenda Radmacher, Gordon & ReesMs. Radmacher may be contacted at
bradmacher@grsm.com
Newmeyer Dillion Named 2022 Best Law Firm in Multiple Practice Areas By U.S. News-Best Lawyers
November 08, 2021 —
Newmeyer DillionNEWPORT BEACH, Calif. – November 5, 2021 – Prominent business and real estate law firm Newmeyer Dillion is pleased to announce that U.S. News-Best Lawyers® has recognized the firm in its 2022 "Best Law Firms" rankings, in six practice areas earning the highest ranking possible - Tier 1 in the Orange County Metro area. The practices recognized include:
Commercial Litigation
Insurance Law
Real Estate Law
Litigation - Real Estate
Construction Law
Litigation – Construction
Additionally, the firm has been recognized as Tier 2 in Employment Law - Management and Tier 3 in Litigation - Insurance.
"Our firm was built on the culture of excellent personalized service and achieving the best results possible. Knowing that our clients and peers continue to value the offerings we provide showcases our ability to deliver business-oriented solutions across a wide range of practice areas."
Firms included in the 2022 "Best Law Firms" list have been recognized by their clients and peers for their professional excellence. Firms achieving a Tier 1 ranking have consistently demonstrated a unique combination of quality law practice and breadth of legal expertise.
To be eligible for the "Best Law Firms" ranking, a firm must have at least one attorney recognized in the current edition of The Best Lawyers in America for a specific practice area. Best Lawyers recognizes the top 4 percent of practicing attorneys in the U.S., selected through exhaustive peer-review surveys in which leading lawyers confidentially evaluate their professional peers.
About Newmeyer Dillion
For over 35 years, Newmeyer Dillion has delivered creative and outstanding legal solutions and trial results that achieve client objectives in diverse industries. With over 60 attorneys working as a cohesive team to represent clients in all aspects of business, employment, real estate, environmental/land use, privacy & data security and insurance law, Newmeyer Dillion delivers holistic and integrated legal services tailored to propel each client's operations, growth, and profits. Headquartered in Newport Beach, California, with offices in Walnut Creek, California and Las Vegas, Nevada, Newmeyer Dillion attorneys are recognized by The Best Lawyers in America©, and Super Lawyers as top tier and some of the best lawyers in California and Nevada, and have been given Martindale-Hubbell Peer Review's AV Preeminent® highest rating. For additional information, call 949.854.7000 or visit www.newmeyerdillion.com.
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Insurers Must Defend Allegations of Faulty Workmanship
June 20, 2022 —
Tred R. Eyerly - Insurance Law HawaiiGranting the insured's motion for partial judgment on the pleadings, the court determined the insurers had a duty to defend. Suez Treatment Solutions, Inc. v. Ace Am. Ins. Co. & Liberty Mut. Fire Ins. Co., 2022 U.S. Dist. LEXIS 59044 (S. D. N. Y. March 30, 2022).
Suez Treatment Solutions, Inc. held policies from Chubb and Liberty Mutual Fire Insurance Company to cover its operations in connection with the development of a pollution treatment system in North Carolina. When the project ultimately failed, an underlying action sought damages from Suez, alleging breach of contract, negligence, and fraud. Suez filed this case seeking a declaratory judgment that Chubb and Liberty were each obligated to defend and indemnify Suez in the underlying case.
The City of High Point hired Suez to upgrade the facilities at its wastewater treatment plant staring in 2021. Because mercury levels were too high in emissions from sewage-sludge incinerators, Suez began working on the installation of a Mercury Removal System. After installation, a leak occurred in a component known as the heat exchanger. The leak caused the system to shut down and weeks-long repairs began.
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Tred R. Eyerly, Damon Key Leong Kupchak HastertMr. Eyerly may be contacted at
te@hawaiilawyer.com
Follow Up on Continental Western v. Shay Construction
March 28, 2012 —
Brady Iandiorio, Higgins, Hopkins, McLain & Roswell, LLCWriting in Construction Law Colorado, Brady Iandiorio revisits the case Continental Western v. Shay Construction. He promises to continue to follow cases dealing with Colorado HB 10-1394.
Recently the Court ruled on two Motions to Reconsider filed by Defendants Milender White and Shay Construction.
Procedurally, the Motions to Reconsider were ruled on by the Honorable William J. Martinez, because the day after the motions were filed the action was reassigned to Judge Martinez. In the short analysis of the Motion to Reconsider, the court leaned on Judge Walker D. Miller’s ruling on the summary judgment and his analysis of the (j)(5) and (j)(6) exclusions.
As a quick refresher regarding the grant of summary judgment, Judge Miller agreed with Continental Western’s argument that the asserted claims were excluded under the “damage to property” exclusion. The policy’s exclusions state: “(j) Damage to Property . . . (5) that particular part of real property on which you or any contractors or subcontractors working directly or indirectly on your behalf are performing operations, if the ‘property damage’ arises out of those operations; or (6) that particular part of any property that must be restored, repaired or replaced because ‘your work’ was incorrectly performed on it.” Judge Miller found that both exclusions (j)(5) and (6) applied to both Shay’s allegedly defective work.
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Reprinted courtesy of Brady Iandiorio of Higgins, Hopkins, McClain & Roswell, LLC. Mr. Iandiorio can be contacted at iandiorio@hhmrlaw.com.
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Florida’s “Groundbreaking” Property Insurance Reform Law
April 18, 2023 —
Bradley S. Fischer & Laura Farrant - Lewis BrisboisFort Lauderdale, Fla. (April 18, 2023) – On December 16, 2022, Florida Governor Ron DeSantis signed into law Senate Bill 2-A (S.B. 2-A, or the Act). Widely touted as “groundbreaking,” S.B. 2-A reforms many aspects of the claims process, including the timing for paying and adjusting claims, eliminating one-way attorneys’ fee awards, and banning assignment-of-benefits agreements. This alert provides an overview of the key provisions of S.B. 2-A. Unless otherwise stated in each amended statute, December 16, 2022 appears to be the effective date of the Act.
I. Assignment of Benefits – Section 627.7152 (effective January 1, 2023)
- A policyholder may not assign any post-loss insurance benefits under any residential or commercial property insurance policy. Any attempt to assign such benefits is void, invalid, and unenforceable.
Reprinted courtesy of
Bradley S. Fischer, Lewis Brisbois and
Laura Farrant, Lewis Brisbois
Mr. Fischer may be contacted at Bradley.Fischer@lewisbrisbois.com
Ms. Farrant may be contacted at Laura.Farrant@lewisbrisbois.com
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