During these difficult economic times, general contractors, subcontractors, architects and engineers are spending extra time and effort in developing effective risk management strategies for their construction projects. An important contract risk management strategy available for these entities is the inclusion of a well drafted limitation of liability provision in all of their construction related contracts.
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Limitations of Liability – Effective Risk Management
July 29th, 2010FAA Aircraft Registration Changes to Affect Lenders
July 28th, 2010The Federal Aviation Administration has issued sweeping changes concerning the re-registration and renewal of all aircraft. Beginning October 1, 2010, the FAA will terminate over a three-year period the registration of all aircraft registered on or prior to that date. Going forward, the FAA will require the re-registration of aircraft and a renewal of such registration every three years. Read the rest of this entry »
Documenting Delivery of the Initial Financing Statement to the Debtor in Indiana
July 27th, 2010Indiana’s version of the Uniform Commercial Code includes a provision not contained in the Ohio, Illinois or Kentucky versions of revised Article 9. This provision in Indiana relates to the delivery of the initial financing statement to the debtor. No later than thirty days after the financing statement is filed, the creditor must furnish a copy of the financing statement to the debtor. Read the rest of this entry »
A Mineral Owner’s Primer for Escaping a Bad Oil and Gas Lease the Old Fashioned Way
July 22nd, 2010Most Indiana mineral owners and oil and gas operators are familiar with the Indiana cancellation statute for oil and gas leases. Generally stated, the statute provides that if a mineral owner (usually also the surface owner) can establish that there has been a cessation in oil or gas operations on the leased property for over one year, that person can file an affidavit with the County Recorder to terminate the lease. Read the rest of this entry »
New Changes to Indiana Foreclosure Law
July 20th, 2010New changes to Indiana’s foreclosure law took effect July 1, 2010. Some of the more notable changes are as follows.
1) Pre-suit Foreclosure Notice. Under the new law, the 30-day pre-suit foreclosure notice (which was previously required to be sent in all foreclosure cases), is now only required in cases involving the debtor’s primary residence. The new law serves to clarify an ambiguity under prior law, which should help to reduce costs and delays in commercial foreclosure actions while still protecting consumers at risk of losing their homes. Read the rest of this entry »
Doctors – Beware of the “Innocent” Deposition
July 15th, 2010A relative new trend in medical malpractice litigation involving the use of depositions of physicians could have ramifications for the testifying physician, who is not yet a party to a lawsuit, once the deposition has been completed. Read the rest of this entry »
Title Insurance Coverage for Mechanic’s Liens
July 13th, 2010Contractors, subcontractors, owners, lenders and title companies often become intertwined when a party seeks to purchase title insurance coverage for mechanic’s liens. Since mechanic’s liens for most commercial projects may be recorded in Indiana up to 90 days after the completion of work, title insurance commitments and policies have a general exception for “unfiled mechanic’s or materialmen’s liens.” However, in many situations, a title company will agree to delete this exception and thereby insure the owner or lender against such risks. Read the rest of this entry »
Probate — More Than a Four Letter Word (Seven Actually)
July 8th, 2010“Probate,” as defined by the Merriam–Webster dictionary is “the judicial determination of the validity of a Will.” Under the laws of England, as transplanted to America, “probate law” refers to the body of law that has developed, both through statutes and court cases, governing the transfer of property at death and the proper handling of property that is held in a fiduciary capacity for the benefit of others. Read the rest of this entry »
Protesting the Unlawful Award of a Public Works Contract
July 6th, 2010Governmental entities are subject to strict requirements in soliciting and awarding bids for public works projects. The rules for competitive bidding are designed to protect the interests of the taxpayers and to ensure that the work is performed by the bidder in a workmanlike and professional manner. Read the rest of this entry »
Local Governments Continue to Use Federal Grants to Assess and Cleanup Underused and Abandoned Properties
July 1st, 2010Many cities and towns are left with abandoned and underused real property that is not attractive to buyers due to perceived or actual environmental issues. Even with the best vision in place, it still takes money to start down the redevelopment path and bring stakeholders together. Read the rest of this entry »