News & Publications

The New York Appellate Division, First Department, recently revisited several legal principles of Article 3-A of the New York Lien Law in the case of Flintlock Construction Services, LLC v. HPH Services, Inc., 230 A.D.3d 446 (1st Dept. 2024). The court's ruling provides important clarifications on personal liability, standing in trust asset diversion claims, and the conditions under which punitive damages may be awarded. A key aspect of this case is the court's affirmation of the [...]

Mezzanine lenders looking to foreclose on their collateral have the advantage of being able to pursue remedies outside of court. But the process, which is described in the Uniform Commercial Code (UCC), is often ill understood and can seem daunting. In this article, we aim to simplify the process, explain the roles of lawyers and other professionals, and highlight some common strategies and pitfalls. What are Mezzanine Loans It's helpful to generally understand the types [...]

Whether or not there is a penalty for a contractor failing to finish on time depends on what the contract says about the completion date and what happens if construction is not completed by that date. Because the contracts are so very different in residential and commercial construction, I will address each separately. Penalties for Missing Completion Dates in Commercial Construction In Commercial construction, it is common to have a specific completion date and a penalty [...]