Fairfield Connecticut Building Expert Directory

Tom Newmeyer Elected Director At Large to the 2017 Orange County Bar Association Board of Directors

October 20, 2016 — Newmeyer & Dillion LLP
NEWPORT BEACH, Calif. – OCTOBER 17, 2016 – Prominent business and real estate law firm Newmeyer & Dillion LLP is pleased to announce that co-founding partner Tom Newmeyer has been elected Director at Large to the 2017 Orange County Bar Association Board of Directors. Newmeyer was elected to the Board for a three-year term beginning January 2017 and will be installed during the OCBA Judges’ Night & Annual Meeting in January along with the 2017 Officers and other Board members. “It’s an honor to be selected by my fellow OCBA members to represent their interests as a Board member,” said Tom Newmeyer. “As Director at Large, I will do my utmost to preserve and enhance the OCBA’s commitment to the members it serves.” Tom Newmeyer is one of the founding partners of Newmeyer and Dillion LLP, which has grown from three attorneys in 1984 to over 70 lawyers in Newport Beach and Walnut Creek, California and Las Vegas, Nevada. Newmeyer has an active trial and appellate practice covering all areas of business litigation, including unfair competition, trade secrets, contract disputes, corporate and partnership dissolutions, trusts and estates, and labor and employment. He has extensive experience in representing clients in diverse areas including “green” technologies, subprime mortgages, internet and computer software, as well as real estate. About Newmeyer & Dillion For more than 30 years, Newmeyer & Dillion has delivered creative and outstanding legal solutions and trial results for a wide array of clients. With over 70 attorneys practicing in all aspects of business, employment, real estate, construction and insurance law, Newmeyer & Dillion delivers legal services tailored to meet each client’s needs. 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 have been given Martindale-Hubbell Peer Review's AV Preeminent® highest rating. For additional information, call 949-854-7000 or visit www.ndlf.com Read the court decision
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Construction Mezzanine Financing

March 29, 2017 — Tim Davis & Steven Coury - White and Williams LLP
Construction mezzanine lending is on the rise and more development deals are getting done with a capital stack that includes mezzanine debt in addition to the traditional components of sponsor equity and senior mortgage debt. Below are important issues and concepts to bear in mind when structuring the financing of a construction project that includes a mezzanine debt component. Funding Sequence Funding Sequence When will the proceeds of the mezzanine loan be advanced? In some instances, the mezzanine loan proceeds will be advanced only after all of the borrower’s equity has been contributed to the construction of the project. In other instances, the borrower’s equity and the mezzanine loan proceeds go in either pari passu or simultaneously at another ratio. If the equity is not entirely contributed in advance, the mezzanine lender may require that the uncontributed equity be held by the mezzanine lender or held in a pledged account. The mezzanine lender may also further mitigate the risk of non-funding of the equity by requiring an equity funding guaranty (as discussed below). Additionally, when will the mezzanine loan proceeds be advanced in relation to the senior mortgage loan proceeds? Will the entire mezzanine loan be advanced prior to any senior mortgage loan advance or will they be advanced pari passu? Depending on the business deal, the mezzanine loan agreement will need to reflect how and when the equity, the mezzanine debt, and the mortgage debt will be advanced. Reprinted courtesy of Tim Davis, White and Williams LLP and Steven Coury, White and Williams LLP Mr. Davis may be contacted at davist@whiteandwilliams.com Mr. Coury may be contacted at courys@whiteandwilliams.com Read the court decision
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"Repair Work" Endorsements and Punch List Work

May 20, 2019 — Jeremiah M. Welch - Saxe Doernberger & Vita, P.C.
The recent white paper on Repair Work Endorsements by Jeremiah Welch, drew a storm of responses. Most were appreciative and included follow up questions, but there were those that lamented along the lines of: “How can that be? We’ve been doing it this way for years…”. For the skeptics, the best approach to test the premise of the paper (that most “repair work endorsements” are at best redundant with the PCO extension and at worst restrictive) is to try to formulate a scenario where coverage would be available under a “repair work endorsement” but not under a PCO extension. Several folks asked about the impact of PCO extensions and repair work endorsements on “punch list” work. “Punch list” work presents a related but different problem. The first issue is understanding what is meant by the term “punch list”. You won’t find that term in an ISO CGL policy. You may find it defined in a construction contract and a Google search will yield several similar definitions. In general, our industry uses the term “punch list” to describe items identified toward the end of a project (often after the contractually defined point of “substantial completion”) which must be completed in order to fully comply with the contract requirements/scope. In short, “punch list” items are items necessary to complete the work. Read the court decision
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Reprinted courtesy of Jeremiah M. Welch, Saxe Doernberger & Vita, P.C.
Mr. Welch may be contacted at jmw@sdvlaw.com

Insurer Must Produce Documents After Failing To Show They Are Confidential

January 19, 2017 — Tred R. Eyerly – Insurance Law Hawaii
The Colorado Supreme Court ordered the insurer to produce documents after failing to demonstrate the documents contained were trade secrets. In Re Rumnock v. Anschutz, 2016 Colo. LEXIS 1228 (Colo. Dec. 5, 2016). Stephen Rumnock was involved in an auto accident with an uninsured driver. Rumnock brought negligence claims against the driver and uninsured/underinsured motorist claims against his insurers, including American Family Insurance Company. American Family initially refused to pay benefits, but eventually paid him policy limits. Rumnock then amended his complaint to add bad faith and abuse of process claims against American Family. 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

Surge in Home Completions Tamps Down Inflation as Fed Meets

June 17, 2015 — Carlos Torres – Bloomberg
American builders are tamping down what little inflation there is. Construction companies completed 392,000 buildings with five or more units at an annualized rate in May, the most since 1988, Commerce Department figures showed Tuesday in Washington. “The pickup in demand is pushing up rents and also creating more incentive for builders to put up more units,” said Michael Hanson, a senior economist at Bank of America Corp. in New York. The jump in completions “helps offset some of the upward pressure we’ve seen” on rents, said. Read the court decision
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Reprinted courtesy of Carlos Torres, Bloomberg

New-Home Sales in U.S. Unexpectedly Fall to Four-Month Low

January 07, 2015 — Victoria Stilwell – Bloomberg
Purchases of new U.S. homes unexpectedly declined in November to a four-month low, underscoring a lack of momentum this year in residential real estate. Sales dropped 1.6 percent to a 438,000 annualized pace last month following a 445,000 rate in October that was weaker than previously estimated, Commerce Department figures showed today in Washington. The median estimate of 73 economists surveyed by Bloomberg called for a 460,000 pace in November. Read the court decision
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Reprinted courtesy of Victoria Stilwell, Bloomberg
Ms. Stilwell may be contacted at vstilwell1@bloomberg.net

Rams Owner Stan Kroenke Debuts His $5.5 Billion Dream Stadium

September 14, 2020 — Christopher Palmeri - Bloomberg
The first thing you notice that’s different about SoFi Stadium is that you can walk from the parking lot almost directly into the fifth level of the arena. There’s no passing through gate after gate or ascending endless circular walkways. Construction workers dug up over 7 million cubic yards of dirt to build an arena that sits 100 feet (30 meters) below grade. It’s one of the many features that make SoFi, the National Football League’s biggest stadium, surprisingly visitor-friendly. Not that fans will be able to experience it just yet. When the stadium debuts Sunday with the first game of the Los Angeles Rams’ season, it will be spectator-free -- the result of pandemic-spurred restrictions on gatherings. But it will still be a spectacle. Read the court decision
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Reprinted courtesy of Christopher Palmeri, Bloomberg

How the Pandemic Pushed the Construction Industry Five Years Into the Future

September 06, 2021 — Alexandra McManus & Hussein Cholkamy - Construction Executive
On any given day, there are a multitude of variables playing out on construction jobsites, from maintaining daily logs to track hundreds of workers to creating daily schedules to keep projects on track. What made an industry that’s arguably about 20 years in the past get a dramatic technology boost five years into the future? A global pandemic that nobody saw coming. When COVID-19 made its first appearance on construction sites in early 2020, the domino effect of project shutdowns and labor shortages created uncertainty along with budget and timeline nightmares. The pandemic shook up the industry, with many projects coming to a screeching halt. As general contractors scrambled to keep their projects moving and workers safe, technology proved to be the solution. With jobsites shutting down, coupled with a nationwide labor shortage, real-time visibility over workforce variables, such as who was on-site, where they were and who they interacted with was more important than ever. Safe proximity tracking, virtual density and access control technologies helped construction companies gain more control, visibility and the ability to deal with the ever-changing regulations due to the global pandemic. More importantly, it helped keep their valuable workforce safe. Reprinted courtesy of Alexandra McManus & Hussein Cholkamy, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Mr. Cholkamy may be contacted at hussein@eyrus.com Ms. McManus may be contacted at alex@eyrus.com Read the court decision
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FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES