Construction Lawyer

MAY 13, 2013

It may gain this control through an assignment of the architect’s agreement to the bank upon the default of the borrower. Most owner/architect agreements allow for the assignment to take place if the borrower defaults under the loan agreement with its lender, the bank. The short answer is that the architect will not get paid.

Banking 45

Banking Agreement Bankruptcy Bargains 45

Constructlaw

DECEMBER 7, 2020

According to one study, there are presently more than 5,300 pandemic-related filings in the United States. The economic hardships that have resulted have exposed many businesses to financial strain and led to an increased number of high-profile insolvencies and bankruptcies.

Claims 40

Claims Insurance Bankruptcy Legal 40

NH Construction Law

MAY 28, 2018

The main advantage of such “trust fund” provisions is in bankruptcy; trust funds are not considered assets of the subcontractor/debtor that can be distributed to general creditors. If the sub falsely swears (it happens!), any principal of the sub signing the lien waiver may also be liable to the general.

Subcontracting 40

Subcontracting New Hampshire Lien Insurance 40

Construction Lawyer

JANUARY 30, 2014

17, 2013), demonstrates the difficulty faced by parties in drafting appropriate forum selection provisions in construction agreements. The prime agreement between Weisel and Ryan consisted of an AIA Document A111 (presumably a 1997 version) and an AIA Document A201 (also presumably the 1997 version). Welch Marble & Tile, Inc.

Subcontracting 40

Subcontracting Drafting San Francisco California 40

Lets Build

MAY 1, 2020

The panel discussion kicked off with a unanimous agreement that the Coronavirus outbreak has an unprecedented impact on the construction industry. In this case, one must assume that significant and lasting damage to the economic fabric with lots of bankruptcies, corporate debt fall-outs, and so on will have happened.

Industrial 148

Industrial BIM Innovation Construction 148

Business Facilities

AUGUST 1, 2014

Yes, we know that Detroit became the largest city in history to file for bankruptcy protection, a process the city is expected to emerge from this year. Cerberus, an equity player who had acquired a majority stake in Chrysler from German auto giant Daimler-Benz in 2007, went into bankruptcy in 2009. According to Maryland Gov.

Metro 111

Metro Detroit Austin Baltimore 111

Buisness Facilities Contributed Content

APRIL 15, 2014

A business that applies for the exemption must enter into an agreement with the Governor of Alabama. The business must sign a job-creation agreement under the Advantage Arkansas program within 24 months of signing the Tax Back agreement. Must expand its labor force, make new capital investment, or prevent loss of employment.

Income 108

Income Finance Zoning Employment 108