Source: https://www.iamagazine.com/, October 30, 2023 By: Jude Sedliak Social inflation is wreaking havoc on the real estate professionals errors & omissions segment, leading to an increasing number of lawsuits and astronomical settlement amounts. While no real estate professional is safe thanks to a cooling housing market, property managers are seeing more than their fair share […]
Source: https://www.reuters.com/, September 1, 2023 By: Mike Scarcella A group of the country’s largest corporate managers of mobile home communities and a market data provider were sued in U.S. court on Thursday for allegedly conspiring to inflate rental prices for older and low-income residents. Two Illinois residents who rented lots for their manufactured homes filed […]
Source: https://www.constructiondive.com/, October 5, 2021 By: Leslie Shaver The problems at 432 Park Avenue aren’t new, but the recent suit filed by the condo association ramps up the dispute between residents and the developers. “Unit owners paid tens of millions of dollars to acquire units,” the plaintiffs said in court filings. “Far from the ultra-luxury […]
Source: https://www.insurancejournal.com/, May 7, 2020 The Illinois attorney general’s office has filed a lawsuit against a developer and two contractors for the release of contaminants during the implosion of a smokestack at a defunct Chicago power station. The lawsuit filed in Cook County Circuit Court alleges Hilco Redevelopment Partners and its general contractors, MCM Management […]
Source: https://www.grandforksherald.com/, February 21, 2020 By: Hannah Shirley When a balcony at a Grand Forks apartment building collapsed in June, it sent five people plummeting four stories to the sidewalk below. Now, four of those people have filed a personal injury lawsuit against the building’s owners as well as multiple contractor and architectural companies. Steven […]
Source: https://www.constructiondive.com/, February 24, 2020 By: Kim Slowey Dive Brief: A New York State Supreme Court judge has revoked the building permit for a 668-foot-tall residential tower in Manhattan, a decision that could force the developers to remove 20 floors from the top of the nearly complete structure, Bisnow reported. Attorneys for developers of the 200 Amsterdam […]
Source: https://www.wdsu.com, October 25, 2019 A New Orleans restaurant group is suing the developers and contractors along with other parties involved in the Hard Rock Hotel project that collapsed two weeks ago. Among those named in the lawsuit are Citadel Builders, Heaslip Engineering, 1031 Canal LLC and Kailas Companies. Read more.
Source: https://www.providencejournal.com, May 29, 2019 By: Alex Kuffner The developer of the Phillipsdale Landing complex in Rumford has agreed to an $82,000 settlement with the U.S. Environmental Protection Agency over allegations of mishandling toxic chemicals. Bourne Holdings, of Pawtucket, agreed to pay the fine to settle allegations of six counts of violating federal regulations for […]
Source: https://www.miamiherald.com, April 7, 2019 By: Lindsey Thurswell Lehr and Susan C. Odess Every South Florida construction boom brings with it a rise in defect claims by condominium associations against their buildings’ developers, builders and design professionals. The current wave of development has been no different, except that due to the proximity of new condo […]
Source: constructionexec.com, February 1, 2019 By: Joe Reynolds, RT New Day After surging for years, the U.S. real estate marketplace may have finally peaked. According to the most recent Emerging Trends in Real Estate® report published jointly by the Urban Land Institute (ULI) and PricewaterhouseCoopers, commercial realtors are entering a challenging environment earmarked by reduced construction […]
REAL ESTATE DEVELOPERS E&O RED policies marry the features of professional liability insurance for design professionals, contractors and real estate development professionals into a broader solution for the real estate industry than previously available. The following hypothetical scenarios illustrate potential situations in which a RED policy might provide coverage. NEGLIGENT PROPERTY MANAGEMENT A RED policy may […]
Source: https://apnews.com, October 27, 2018 The general contractor that managed San Francisco’s troubled $2 billion transit terminal is suing the agency in charge of the project alleging faulty design and mismanagement. The joint venture of Webcor Builders and Obayashi Corp. filed the lawsuit Tuesday in San Francisco. It alleges design and planning mistakes sent construction […]
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