Everyone Wins When a Foreclosure Sale Generates Excess Proceeds
August 07, 2018 —
Ben Reeves - Snell & Wilmer Real Estate Litigation BlogIntroduction
When a foreclosure sale generates more money than needed to pay off the lien, the excess proceeds usually go first to creditors in the order of their priority, and second to the owner after creditors are paid in full. So, in truth, not everyone wins when a foreclosure sale brings in too much money. Amusingly, in Steinmetz v. Everyone Wins, the court awarded excess sale proceeds to….you guessed it…Everyone Wins, despite the owner’s argument that Arizona’s anti-deficiency statutes barred it from recovering anything.
In addition to supplying a clever title for this post, Steinmetz v. Everyone Wins provides an important analysis of how Arizona’s anti-deficiency statutes, homeowner’s assessment lien statutes, and foreclosure statutes apply when determining who “wins” when it comes to excess sale proceeds.
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Ben Reeves, Snell & WilmerMr. Reeves may be contacted at
breeves@swlaw.com
Build Me A Building As Fast As You Can
March 15, 2021 —
Jodi Stein & Jennifer Dickson - Sheppard Mullin Construction & Infrastructure Law BlogNot your average game of patty-cake! Earlier this week, New York’s First Department, Appellate Division issued its decision related to 200 Amsterdam,[1] overturning the lower court’s decision which would have required 200 Amsterdam to remove several floors of its building in order to comply with zoning. The lower court determined that the NYC Zoning Resolution did not permit a developer to utilize a portion of a tax lot to merge with a neighboring zoning lot.
Known as the “gerrymandered zoning lot,” the developer of 200 Amsterdam included portions of neighboring tax lots in its zoning lot in order to transfer air rights from those portions of tax lots to be utilized in 200 Amsterdam’s 55-story development. The inclusion of partial tax lots in a zoning lot is not expressly discussed in the NYC Zoning Resolution, but was permitted by a 1978 Department of Buildings memo. While challenges to 200 Amsterdam started in 2017, the developer moved forward with the construction of its development under lawfully issued building permits.
Reprinted courtesy of
Jodi Stein, Sheppard Mullin and
Jennifer Dickson, Sheppard Mullin
Ms. Stein may be contacted at jstein@sheppardmullin.com
Ms. Dickson may be contacted at jdickson@sheppardmullin.com
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Nevada’s Changing Liability Insurance Landscape—State Insurance Regulator Issues Emergency Regulation and Guidance Addressing Controversial “Defense-Within-Limits” Legislation
August 28, 2023 —
Geoffrey B. Fehling & Andrew S. Koelz - Hunton Insurance Recovery BlogWe
recently posted about Nevada becoming the first state to prohibit defense-within-limits provisions in liability insurance policies. Defense-within-limits provisions—resulting in what is called “eroding” or “wasting” policies—reduce the policy’s applicable limit of insurance by amounts the insurer pays to defend the policyholder against a claim or suit.
In response to uncertainty and industry concern about the potential effects the new law may have on the state’s insurance marketplace, Nevada’s Division of Insurance issued an Emergency Regulation and Guidance to Insurers on the new law to minimize disruption to the marketplace. After noting that the new law “has the potential to eliminate or greatly reduce the availability of certain policies of liability insurance and significantly increase their costs, which will affect all types of Nevada businesses, non-profit entities, and state and local governments,” Nevada’s Division of Insurance addressed three issues relating to the new law in the Emergency Regulation:
- The meaning of the term “policy of liability insurance,” as used in the new law.
- The insurers to which the new law does not apply.
- How defense coverage is required to be made available.
Reprinted courtesy of
Geoffrey B. Fehling, Hunton Andrews Kurth and
Andrew S. Koelz, Hunton Andrews Kurth
Mr. Fehling may be contacted at gfehling@HuntonAK.com
Mr. Koelz may be contacted at akoelz@HuntonAK.com
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The Legal Landscape
June 17, 2024 —
David McMillin - Construction ExecutiveThe construction industry continues to change as new technologies reshape jobsites and new generations of leaders rethink the way companies should operate. But one piece of the puzzle remains very much the same: Everyone needs a good lawyer.
According to the most recent edition of the Arcadis Construction Disputes Report, the average value of a dispute in the industry has soared to $42.8 million—a 42% year-over-year increase between 2021 and 2022. And based on how busy the attorneys at
Construction Executive’s 2024 Top 50 Construction Law Firmshave been this year, there is no sign of legal issues becoming less important to builders and contractors.
Every construction leader wants to spend more time and energy doing what they do best—building projects safely, efficiently and profitably—and less time thinking about the things that might land them in court. How can you best avoid big disputes bound for mediation, arbitration or litigation? What emerging rules and regulations should be on your radar as you develop strategies for success?
While legal issues will never disappear, listening to what some of the best construction lawyers in the country—all members of 2024 Top 50 Construction Law Firms—are thinking about offers a helpful perspective on future-proofing your business against risk, liability and worse.
Reprinted courtesy of
David McMillin, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.
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A DC Office Building Offers a Lesson in Glass and Sculpture
May 08, 2023 —
Kriston Capps - BloombergFrom the outside, the facade of 2050 M Street, an office building in Washington, DC, looks like it’s made with liquid soap. Standing inside and looking out, its structure is almost invisible. The building, which was finished in 2020, boasts an ethereal curtain wall, created from hundreds of fluted planes of glass treated with a special industrial coating. The result is a multifaceted surface that pushes the limits of transparency, enhanced with a silver opal shine.
According to Joshua Ramus, founding principal of the architecture firm REX, the 12-story structure’s design reflects Washington’s building history, while its construction required a rather novel procurement process. The building, he says, is very much a DC story.
Each of its 978 glass panels is concave, shaped using an innovative machine called a bending tempering furnace. Curving glass makes it stronger as a material, and this building’s panes are strong enough to stand up with minimal infrastructure. The building doesn’t employ mullions, window components that hold glass in place. Even a few years ago, achieving such an effect by shaping pieces of glass would have been prohibitively expensive.
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Kriston Capps, Bloomberg
First Suit to Enforce Business-Interruption Coverage Filed
April 20, 2020 —
Lorelie S. Masters & Michael S. Levine - Hunton Insurance Recovery BlogOn Monday, Oceana Grill, a restaurant in New Orleans, Louisiana, became the first to file a lawsuit over coverage for COVID-19 business interruption losses. The lawsuit, styled Cajun Conti, LLC, et al. v. Certain Underwriters at Lloyd’s of London, et al. (La. Dist. Court, Orleans Parish), seeks a declaratory judgment that an “all risks” property insurance policy issued by Lloyd’s of London must cover losses resulting from the closure of the restaurant following an order by the Governor of Louisiana restricting public gatherings and the Mayor of New Orleans’ order closing restaurants.
The Lloyds’ policy, like most first-party property insurance policies, affords coverage for business- interruption losses and contains an “extension of coverage in the event of the businesses closure by order of Civil Authority.” Specifically, the lawsuit seeks a declaration that “the policy provides coverage to plaintiffs for any future civil authority shutdowns of restaurants in the New Orleans area due to physical loss from Coronavirus contamination and that the policy provides business income coverage in the event that the coronavirus has contaminated the insured premises.” Furthermore, according to the complaint, “[t]he policy does not provide any exclusion due to losses, business or property, from a virus or global pandemic.”
As the complaint implies, an important issue will be whether the novel coronavirus constitutes the requisite “direct physical loss or damage” under the policy. Understanding COVID-19, its manner of transmission and its ability to live beyond a host organism helps support a conclusion that COVID-19 does indeed amount to the required direct physical loss or damage.
Reprinted courtesy of
Lorelie S. Masters, Hunton Andrews Kurth and
Michael S. Levine, Hunton Andrews Kurth
Ms. Masters may be contacted at lmasters@HuntonAK.com
Mr. Levine may be contacted at mlevine@HuntonAK.com
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Smart Cities Offer New Ideas for Connectivity
April 05, 2017 —
Jennifer Seward - Engineering News-RecordInnovative, technology-driven communities are being designed and constructed for the next generation—and beyond. Although each of them is uniquely planned, experts say the central theme of connectivity is the key to turning concepts into reality.
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Jennifer Seward, ENRENR may be contacted at
ENR.com@bnpmedia.com
Traub Lieberman Partner Michael Logan and Associate Christian Romaguera Obtain Voluntary Dismissal in Favor of Construction Company Under the Vertical Immunity Doctrine
June 21, 2024 —
Christian Romaguera - Traub LiebermanIn a lawsuit filed in Orange County, Traub Lieberman Partner Michael Logan and Associate Christian Romaguera achieved a voluntary dismissal in favor of their Client, a construction company. The Plaintiff claimed that he was seriously and permanently injured, and demanded $1,000,000.00. The Plaintiff turned out to be an employee of our Client’s subcontractor, and the Plaintiff received worker’s compensation benefits from his employer, the subcontractor. Under Florida Statute § 440.11(1), “The liability of an employer . . . shall be exclusive and in place of all other liability, including vicarious liability, of such employer to any third-party tortfeasor and to the employee . . .” When a subcontractor provides workers’ compensation benefits to its injured employee, workers’ compensation immunity would not only apply to the subcontractor but to the general contractor as well. This is also known as “vertical immunity.” The Traub Lieberman team filed a detailed motion and memorandum of law to argue its case, and the Plaintiff voluntarily withdrew the claim against the Client just before that motion was set to be argued before the Judge.
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Christian Romaguera, Traub LiebermanMr. Romaguera may be contacted at
cromaguera@tlsslaw.com