Fairfield Connecticut Building Expert Directory

Why Financial Advisers Still Hate Reverse Mortgages

October 01, 2014 — Ben Steverman – Bloomberg
A reverse mortgage is a little like a car airbag. It's nice to know it's there. But if it ever has to be used, the driver’s already in trouble. New regulations are supposed to improve the unsavory reputation of reverse mortgages, which are loans against a home that don't need to be repaid until the borrower moves. "It used to be the Wild West out there, without much regulation and enormous fees," says financial planner Warren Ward. While stronger oversight is helping to end past abuses, the number of people taking out reverse mortgages is shrinking. The pace is down 24 percent from last year, government data show, and less than half its peak in 2009. One reason: Many advisers say the loans remain a last resort and can handcuff homeowners who have better options. Read the court decision
Read the full story...
Reprinted courtesy of Ben Steverman, Bloomberg
Mr. Steverman may be contacted at bsteverman@bloomberg.net

Housing Starts in U.S. Little Changed From Stronger January

March 19, 2014 — Jeanna Smialek – Bloomberg
Housing starts in the U.S. were little changed in February after declining less than previously estimated a month earlier, indicating the home-building industry is stabilizing after bad winter weather curbed construction. The 0.2 percent decrease to 907,000 homes at an annualized rate last month followed a revised 909,000 pace in January, figures from the Commerce Department in Washington showed today. The median estimate in a Bloomberg survey called for a 910,000 rate after a previously reported 880,000 in January. Warmer temperatures, a pickup in demand during the spring selling season and limited housing supply may help fuel further gains in new residential construction. The outlook for the industry later this year depends on whether hiring picks up enough to overcome higher mortgage rates and home prices. Read the court decision
Read the full story...
Reprinted courtesy of Jeanna Smialek, Bloomberg
Ms. Smialek may be contacted at jsmialek1@bloomberg.net

Vermont Supreme Court Reverses, Finding No Coverage for Collapse

May 18, 2020 — Tred R. Eyerly - Insurance Law Hawaii
The Vermont Supreme Court reversed the trial court's decision for collapse coverage. Commercial Constr. Endeavors, Inc. v. Ohio Sec. Ins. Co., 2019 Vt. LEXIS 173 (Vt. Sup. Ct. Dec. 13,2019). Commercial Construction Endeavors, Inc. (CCE) built a livestock barn. By late December 2014, the barn was partially complete, with the foundation laid, wood framing erected, and roof trusses installed. In late December, strong winds caused the structure to collapse. CCE started clearing debris and rebuilding the barn, incurring additional labor and material costs. CCE reported the collapse to Ohio Security. The policy covered loss to "Covered Property." Ohio Security determined that the loss was covered for "Off-Premises Property Damage Including Care, Custody or Control." This endorsement provided coverage for damage to real property upon which CCE was performing operations where the damage resulted from those operations. Ohio Security paid CCE $24,750, the full amount available under the endorsement, less a $250 deductible. Read the court decision
Read the full story...
Reprinted courtesy of Tred R. Eyerly, Damon Key Leong Kupchak Hastert
Mr. Eyerly may be contacted at te@hawaiilawyer.com

2016 California Construction Law Upate

December 10, 2015 — Garret Murai – California Construction Law Blog
The California State Legislature saw the introduction of 2,297 bills during the first half of the 2015-2016 legislative session of which 1,010 bills were signed into law. For contractors, the bill (now law), having the most immediate effect is SB 467, which increases the license bond amount required of all contractors from $12,500 to $15,000. In addition to licensing changes, 2015 saw the enactment of a number of bills providing for alternative project delivery methods from design-build, to CM at risk, to public-private partnerships, and even the expanded use of enhanced infrastructure financing districts as the state enters its fourth year since the abolishment of redevelopment agencies. Read the court decision
Read the full story...
Reprinted courtesy of Garret Murai, Wendel Rosen Black & Dean LLP
Mr. Murai may be contacted at gmurai@wendel.com

Greg Dillion & Newmeyer Dillion Named 2019 Good Scout Award Recipient

November 24, 2019 — Newmeyer Dillion
Newmeyer Dillion, a prominent business and real estate law firm, today announced Greg Dillion and the firm were named the 2019 Good Scout Award recipient by the Boy Scouts of America, Orange County Council. Dillion and the firm were recognized at the 38th annual Construction Industry Luncheon on November 18th at Hotel Irvine in Irvine, CA. The award is given to individual/company in recognition of their outstanding character, leadership in their industry and commitment to their community. "When reviewing the 12 points of the Scout's law, with each point as a goal for every Scout to live up to, the two that stand out the most for me that Greg embodies are that Greg is 'helpful' and Greg is 'brave,'" says Newmeyer Dillion's Managing Partner Paul Tetzloff, who served as Master of Ceremonies for this year's award. "Greg has the instantaneous willingness to help, and he will make the time to help even when he has no time to do so. Greg never runs and he never backs down. He is the person that we look up to. He never hesitates, and he never blames. He only moves forward. I've been blessed in my life to be around and influenced by some tremendous leaders. Greg is the real deal. The Boy Scouts could not have picked a better man to honor." Greg Dillion is a founding partner of Newmeyer Dillion. Established 35 years ago, the firm has grown from three attorneys to over 70 in three offices. Along with an active trial and appellate public and private practice, Dillion represents residential and commercial developers and other businesses in complex and high stakes business, insurance, real estate and construction disputes. He also advises on insurance policy placement and review; risk avoidance, transfer and management; and alternative dispute resolution methods, techniques and enforceability. Dillion is active in the community in which he serves, as a supporter of numerous charities and non-profit organizations like the American Cancer Society, Boys Scouts of America, The City of Hope, Interval House, Joyful Child, The Catalina Conservancy, Orangewood Foundation, The Shea Center, The Catalina Cowboy Heritage Foundation and more. He currently sits on the Board for the Surfing Heritage & Culture Center and the Los Caballeros. Learn More: https://www.newmeyerdillion.com/gregory-l-dillion/ https://vimeo.com/374510243/a587df2eaa About Newmeyer Dillion For 35 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 corporate, employment, real estate, privacy & data security and insurance law, Newmeyer Dillion delivers legal services tailored to meet each client's needs and takes an integrated and holistic approach to its legal representation that propels each clients' vision, mission, culture, operations, peace of mind and bottom line. 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
Read the full story...
Reprinted courtesy of

Blackstone to Buy Apartments From Greystar in $2 Billion Deal

December 10, 2015 — Sarah Mulholland – Bloomberg
Blackstone Group LP agreed to buy 32 multifamily properties for about $2 billion from Greystar Real Estate Partners LLC as the private equity giant expands its push into the U.S. apartment market. The buildings, with a total of 10,399 units, are spread throughout the country in states such as California, Florida, Washington and New York, Greystar said in a statement Tuesday. The Charleston, South Carolina-based company, the largest U.S. apartment manager, will continue to oversee the properties. Peter Rose, a Blackstone spokesman, declined to comment on the transaction. Read the court decision
Read the full story...
Reprinted courtesy of Sarah Mulholland, Bloomberg

Venue for Suing Public Payment Bond

June 15, 2017 — David Adelstein - Florida Construction Legal Updates
Public payment bonds (excluding FDOT payment bonds) are governed under Florida statute s. 255.05. As it pertains to venue—the location to sue a public payment bond–the statute provides in relevant portion: (5) In addition to the provisions of chapter 47, any action authorized under this section may be brought in the county in which the public building or public work is being construction or repaired. *** (1)(e) Any provision in a payment bond…which restricts venue of any proceeding relating to such bond…is unenforceable. Now, what happens if a subcontractor sues only a payment bond but its subcontract with the general contractor contains a mandatory venue provision? For example, what if the general contractor is located in Lee County and the subcontract contains a venue provision for Lee County, the project is located in Collier County, the subcontractor is located in Miami-Dade County, and the surety issues bonds in Miami-Dade County? Does venue have to be in Lee County per the mandatory venue provision? Read the court decision
Read the full story...
Reprinted courtesy of David Adelstein, Florida Construction Legal Updates
Mr. Adelstein may be contacted at Dadelstein@gmail.com

Lorelie S. Masters Nominated for Best in Insurance & Reinsurance for the Women in Business Law Awards 2021

November 08, 2021 — Adriana A. Perez & Andrea DeField - Hunton Insurance Recovery Blog
We are pleased to announce that Hunton Andrews Kurth LLP insurance coverage partner Lorelie S. Masters is one of only eight attorneys throughout the nation shortlisted for the Best in Insurance & Reinsurance category for the Women in Business Law Awards 2021. The award honors “the outstanding achievements of women in over thirty different practice areas in business law from across Americas. These are individuals who stand out as leaders amongst their peers and who have been instrumental to innovative approaches in their field.” A nationally recognized insurance coverage litigator, Ms. Masters has handled and tried cases in state and federal trial and appellate courts across the country and in arbitrations in the United States and abroad. At issue in these cases, typically, have been millions of dollars of insurance coverage for product and environmental liability, like silicone gel breast implant and asbestos claims. She regularly advises clients on a wide range of liability coverages, including insurance for environmental, cyber, directors and officers, property damage, and other liabilities and loss. Most recently, she has advised clients in a variety of industries on COVID-19 losses under a wide variety of first-party property, business-interruption policies and “package policies,” and obtained multi-million dollar settlements under D&O, Side-A Only D&O and E&O policies. Reprinted courtesy of Adriana A. Perez, Hunton Andrews Kurth and Andrea DeField, Hunton Andrews Kurth Ms. Perez may be contacted at pereza@HuntonAK.com Ms. DeField may be contacted at adefield@HuntonAK.com Read the court decision
Read the full story...
Reprinted courtesy of

FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES