article thumbnail

#130:  Secured Lenders' Rights to Construction Contract Payments

NH Construction Law

It happens this way: A contractor or subcontractor borrows money from a lender, and as security for the loan it gives the lender an assignment of or lien on its receivables and contract rights. No one thinks to ask whether the contractor has pledged its receivables to secure a loan or line of credit. Reading Cooperative Bank v.

article thumbnail

Guest Blog – 5 Common Misconceptions About Surety Bonds

Construction Law Monitor

A recent case of this is the bankruptcy of the 105-year-old company Truland Group Inc. For example, between 2002 and 2013, sureties have covered more than $13 billion in claims, which do not include additional claim expenses that also go in the billions. While it might be surprising to some, this is not true. Washington, D.C.’s

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

SNAPSHOTS: 60 Seconds…with Stephen Moret, Secretary, Louisiana Economic Development

Buisness Facilities Contributed Content

From the July/August 2013 issue. city in history to file for bankruptcy. That incentive helped us secure the largest manufacturing project in state history—the $16-21 billion Sasol gas-to-liquids (GTL) and ethane-cracker complex in Southwest Louisiana. Stephen Moret Secretary Louisiana Economic Development.

article thumbnail

Guest Blog – 5 Common Misconceptions About Surety Bonds

Construction Law Monitor

A recent case of this is the bankruptcy of the 105-year-old company Truland Group Inc. For example, between 2002 and 2013, sureties have covered more than $13 billion in claims, which do not include additional claim expenses that also go in the billions. While it might be surprising to some, this is not true. Washington, D.C.’s

article thumbnail

BUSINESS REPORT: Maryland — SSA’s New Data Hub Moves Forward In Urbana

Buisness Facilities Contributed Content

Conceptual layout of the Social Security Administration’s new data center in Urbana. From the May/June 2013 issue. The General Services Administration’s (GSA) Mid-Atlantic Region and the Social Security Administration (SSA) are collaborating to design and construct the SSA’s new National Support Center in Urbana, MD.

article thumbnail

Elio Motors Announces Vehicle Manufacturing Facility In Shreveport, LA

Buisness Facilities Contributed Content

Bankruptcy Court settlement agreement to redevelop former GM locations. “We To secure the project, LED offered Elio Motors an incentive package that includes the new Competitive Projects Payroll Incentive and LED FastStart® workforce development program. This is a great beginning of 2013 for North Louisiana.

article thumbnail

Stop Bookkeeper Embezzlement In Your Construction Company

Contractor Bookkeeping

Being Ripped-Off And Driven Into Bankruptcy! This is, always has been and will continue to be a major headache and in some cases the direct cause for construction company owners to file business and personal bankruptcy. An Alarming Number Of Construction Company Owners Are. That sounds harsh but it is true! For the full article [link].