For suppliers of goods and services on construction projects, like other trade creditors, there is nothing more dreaded than their general contractor's or subcontractor's bankruptcy filing. It is bad enough that the supplier might have an outstanding claim against the general contractor or subcontractor. In In re Philip Services Corp, the US Bankruptcy Court for the Southern District of Texas ruled that a debtor/general contractor's payment of approximately $937,000 to a subcontractor within 90 days of bankruptcy, in exchange for the subcontractor's release of its filed mechanics' lien, was not a preference based upon the section 547(c)(1) contemporaneous exchange for new value defense. And in In re J.A. Jones Inc, the US Bankruptcy Court for the Western District of North Carolina ruled...
.... Changes to Mechanics Lien Laws . A. SB 189 (Passed in 2010) & SB 190 (P.... The new laws create new waiver and release forms, which must be used. Civ. Code s.s. 8120 - 8...
... Changes to Mechanics Lien Laws. A. SB 189 (Passed in 2010) & SB 190 (... The new laws create new waiver and release forms, which must be used. Civ. Code §§ 8120 –...
C. 1311.011; paid in full affidavit; written notice; attorney fees; statutory interpretation; intent of legislature; subcontractor; material supplier.
... availed of the rights of a lienholder, Evans filed an affidavit of mechanics' lien ag... not clearly established below, Evans released the lien approximately one month later. H..., Evans failed to release its second mechanics' lien. Due to the lien filed against his pr...
ON THE HOUSE
...The mechanics' lien law ensures that those who work on your home...Lien releases are a must. There are two types -- conditional and...
... and encumbrances, mortgages, or liens affecting your lot and some important facts about ...deed of trust, mortgage, mechanics liens), the holder of the lien, and the lots cover...(2) Release provisions. (i) Explain the effect of any release ...
... executed and delivered complete releases discharging and releasing defendants from any and ... from all manner of debts, sums of money, liens, claims, and demands of whatsoever kind, which it ... claimed that DX1 was a release of mechanics liens only and presented evidence in an effort to ...
...On September 20, 1973 Amadori filed a mechanics' lien on real property owned by Stanndco in the Co... was the surety on this mechanics' lien release bond. Stanndco had indemnified the surety for the ...
There are two recent court decisions that raise defenses to any preference attack. In one case, In re IT Group Inc, out of the US Bankruptcy Court in Delaware, subcontractors on a New York construction project were subject to preference claims asserted in the bankruptcy case of the general contractor with whom they dealt, and from whom they had received payment of their claims during the 90-day preference period. Thanks to the trust fund created under the New York Lien Law, the subcontractors were free from preference exposure. The New York Lien Law requires that any funds a general contractor receives for the improvement of real property must be held in trust for the benefit of the subcontractors, architects, engineers, surveyors, laborers and materialmen who provided goods and/or serv...
... to perfect a fully secured statutory mechanics' lien on the debtor's real property. Here, the cou...The defendants also argued that their release of the right to file a mechanics' lien is a contem...
.../94'' for Peat Marwick and four partial releases of lien with the last one dated August 25, 1994. H... TRW/EG&G on which Respondent waived a mechanics lien and release on July 7, 1994. Harbin testified...
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