State appellate courts provided sweeping decisions in 2013 affecting coverage rights under a variety of insurance policies. Practitioners can learn from K&L Homes Inc. v. American Family Mutual Insurance Co. and Capstone Building Corp. v. American Motorists Insurance Co., to name just two, say attorneys with Kilpatrick Townsend & Stockton LLP.
Arising in the context of a government lease, the Civilian Board of Contract Appeals' recent decision in Kap-Sum Properties LLC v. U.S. General Services Administration highlights the profound effect that unique federal changes clauses and disputes clauses have on a contractor’s options in the face of government delays and alterations to the contract, say attorneys with Arnold & Porter LLP.
A Georgia federal court recently ruled in Metro Brokers Inc. v. Transportation Insurance Co. that an all-risk insurance policy did not provide coverage for online fraudulent withdrawals from the company’s bank account. This decision offers guidance as to how a court may treat a policyholder’s claim under a traditional all-risk policy and the effect of broad computer fraud exclusions, says James Kitces at Robins Kaplan Miller & Ciresi LLP.
Two important events this year make clear that California's anti-deficiency statutes not only protect borrowers in nearly all circumstances when dealing with a residential loan but also trump any separate agreement the lender may have with a borrower for the payment of any deficiency following either a foreclosure or a short sale, say Sylvia Arostegui and Eunice Majam-Simpson of Nossaman LLP.
Two line items — overhead and profit — in roof replacement insurance claims are causing considerable debate in Texas, as neither Texas law nor the Texas Department of Insurance has provided determinative guidance. Use competitive roof replacement bids submitted by reputable roofing contractors, rather than estimates generated by computer software, to determine the appropriate claim measure, says Todd Tippett of Zelle Hofmann Voelbel & Mason LLP.
Even if the European economic recovery remains constrained, the global real asset rotation and navigation of the commercial real estate debt gap should continue to propel real estate investment up the risk curve in 2014. The growing participation of larger institutional players also signals larger deals in core markets, says Eric Rosedale, co-chairman of Dentons real estate group in Europe.
As conflicts have intensified over a number of California cities’ approaches to inclusionary housing, the courts have created a patchwork of law that has provided little practical guidance to local governments or developers, but recent actions by the governor and the California Supreme Court may be bringing things into focus, say attorneys with Morrison & Foerster LLP.
In light of "unlawful exactions imposed by municipality on developers" in regards to off-tract improvement contributions, developers are once again warned not to undertake negotiations with planning boards or governing bodies unless those contributions are specifically linked to improvements, says Henry Kent-Smith of Fox Rothschild LLP.
Given the Tax Court decision in G.D. Parker Inc. v. Commissioner of Internal Revenue, corporate structures involving the holdings of personal use U.S. real estate should be revisited. Several alternative structures might be feasible and may serve to reduce or avoid the Parker risk for new acquisitions, says Charles Kolstad of Venable LLP.
If industry executives did not suffer previously from heartburn when thinking about the Consumer Financial Protection Bureau’s complaint process, now is the time for them to reach for the antacids, says Brett Kitt, counsel with Greenberg Traurig LLP and former senior counsel at the CFPB.