Legal News

A recent study evaluated three overlooked steps that developers can take that will often result in surprising savings in development costs. The study focused on the development of wind energy generation facilities, but the lessons offered seem equally applicable to any major real estate development endeavor......By: Tonkon Torp LLP

In June, the Armed Services Board of Contract Appeals (ASBCA) addressed whether it had jurisdiction where a subcontractor pass-through claim was certified under the Contract Disputes Act (CDA) by the subcontractor’s president, not the prime contractor’s representative. In its motion to dismiss, the government argued that under the CDA, only the prime contractor could certify the claim and that the absence of such a certification meant that the ASBCA lacked jurisdiction over the claim......By: ...

New York Court Reaffirms That Contractor’s Defective Work Is Not A Covered “Occurrence” Anthony and Sandra Tamer hired RD Rice Construction (“Rice”) as a general contractor to gut and rebuild their combined residential co-operative units. After Rice and its subcontractors completed the renovation work, the Tamers complained of a draft so Rice returned and installed…...By: Rivkin Radler LLP

Investments in private companies by way of share purchases from existing shareholders (secondary transactions) raise a unique set of complexities, which are often overlooked. Share issuances in company-led financing rounds (primary issuances) grab most of the headlines. However, secondary transactions present important opportunities for purchasers and paths to exit for existing shareholders, and they often mark a milestone for the company itself......By: Morrison & Foerster LLP

COVID-19 has highlighted some of the existing problems in the construction market such as fragmentation, low profitability and often low satisfaction for both owners and contractors (due to time and budget overruns and lengthy claims procedures and disputes). In this article, we consider the choice of the procurement method for large construction projects and issues and risks raised by COVID-19....By: K&L Gates LLP

The long seller’s market may be over, which is welcome news for many companies that are eager and able to acquire or expand a business. Many businesses and business owners have struggled mightily under the COVID-19 pandemic, and their financial condition, liquidity, and prospects have sharply deteriorated. However, if your company has liquidity sources and your business would benefit from expansion, but it has lost out in past bidding wars, shied away from excessive valuations and multiples, o...

In this presentation, we will discuss SPACs and recent transactions. The presenters will discuss considerations for target companies and their equity owners and management teams involved in M&A transactions with SPACs, and considerations for the post SPAC M&A public company. The presenters will also discuss considerations for financial sponsors or management teams at IPO of a SPAC....By: Vinson & Elkins LLP

Key Takeaways - - Foreign Direct Investment (FDI) controls are proliferating around the globe. Since the pandemic, “health” has become a particular focus.  - Several countries have adapted their existing FDI rules, or introduced new ones, to address concerns about national autonomy and supply chain disruption. Some of these changes are general, but some are specific to healthcare.  - Plans for cross-border M&A in the healthcare sector should take close account of potential FDI screening...B...

The U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2020-23, dated July 28, 2020, to update COVID-19 national emergency guidance for FHA loans. The guidance addresses the verification of business operations for self-employed borrowers, the use of rental income for qualification purposes, and rehabilitation escrow accounts in connection with 203(k) loans. The guidance on the first two topics is effective for cases with note dates on or after July 28, 2020 through......

On July 27, 2020, the U.S. Department of Veterans Affairs (VA) issued Circular 26-20-27, dated July 22, 2020, to address COVID-19 precautions for Specially Adapted Housing (SAH) project stakeholders....By: Ballard Spahr LLP