Mark A. Collins, Ryan S. Smethurst and Margaret H. Warner – November 19, 2012 It is estimated that Superstorm Sandy could cause up to $50 billion in losses, and up to $20 billion in insured losses. Businesses should review their commercial property insurance policies and submit claims for Sandy-related losses, if warranted. * * *… Continue reading Insurance Claims For Superstorm Sandy Property Damage And Business Interruption – Insurance – United States
Top Five General Tips for All Construction Contracts
Spencer Wiegard – November 9, 2012 Over the past few days, I have found myself wading through the terms and conditions of a lengthy and complicated construction contract, while at the same time considering what topic I should write about. As I slogged through the legalese, I was reminded of a presentation that I gave… Continue reading Top Five General Tips for All Construction Contracts
Construction Lien Payments: Trust Funds Or Not?
Vicki Harding – November 5, 2012 The trustee of a liquidating trust under a general contractor’s confirmed chapter 11 plan tried to recover pre-petition payments made to a subcontractor as either a preference or a fraudulent conveyance. The court’s decision turned on whether the payments were trust funds under the Illinois Mechanics Lien Act. On February 11,… Continue reading Construction Lien Payments: Trust Funds Or Not?
Can You File A Mechanics Lien Foreclosure Lawsuit Without An Attorney?
Scott Wolfe, Jr. – November 12, 2012 If unpaid on a construction project filing a mechanics lien is a best-practice, as mechanic liens are usually successful at getting construction debts paid. In fact, based on a survey we conducted last year, over 64% of mechanic liens are paid within just 90 days of filing without any further legal or… Continue reading Can You File A Mechanics Lien Foreclosure Lawsuit Without An Attorney?
Willis Re: Low Wind Damage from Sandy
Mark Ruquet – November 12, 2012 Despite the high winds recorded from Superstorm Sandy, wind damage from the storm was “surprisingly minor,” a report from reinsurance broker Willis Re says. Willis Re, a subsidiary of Willis Group Holdings, issued its Hurricane Damage Survey report last week saying the storm had estimated sustain winds of 80… Continue reading Willis Re: Low Wind Damage from Sandy