The Construction Industry: Shortcuts To Disaster
Co-sponsored by the ISBA Construction Law Section and the ISBA Commercial Banking, Collections & Bankruptcy Section
6.0 hour MCLE credit
Original Program Date: Friday, May 13, 2016
MCLE Accreditation Extension Period: May 18, 2023 - May 17, 2025 (You must certify completion and save your certificate before this date to get MCLE credit)
Explore the many issues involving the construction industry, including some situations that are predictable and some that you can hardly imagine ever occurring!
Join us for a comprehensive look at how to handle complicated lien priority and construction escrow matters involving new construction with this informative full-day seminar that uses a fact pattern scenario (based on an actual case) as the backdrop for each presentation! Real estate attorneys, construction law practitioners, and lawyers working in the commercial banking/collections/bankruptcy areas who attend this seminar will better understand:
- The issues and concerns that can arise with the original development contracts and general real estate purchase contracts;
- The requirements involved in financing a construction project;
- The red flags to look for in construction, escrow procedures and disbursements, and related title insurance matters;
- How mechanics’ liens affect the developer, builder, lender, real estate purchaser, and subcontractor;
- How mechanics’ lien foreclosure and builder’s bankruptcy impacts a construction project; and
- Changes in the law that substantially affect construction-related issues.
Program Coordinators:
Robert J. Duffin, Attorney at Law, Joliet
Myles L. Jacobs, Castle Law, Joliet
Ted M. Niemann, Schmiedeskamp Robertson Neu & Mitchell LLP, Quincy
Program Moderator:
Myles L. Jacobs, Castle Law, Joliet
Background
The fact pattern, which is addressed by all presenters, is discussed by our panel, including the issues involved in the original contracts and general real estate purchase contracts.
Robert J. Duffin, Attorney at Law, Joliet
Scott M. Hoster, Castle Law, Joliet
Myles L. Jacobs, Castle Law, Joliet
Ted M. Niemann, Schmiedeskamp Robertson Neu & Mitchell LLP, Quincy
Construction Financing
Discover the issues and requirements involved in financing the construction project at the outset, as well as how changes in circumstances as the project proceeded created additional legal issues. A discussion regarding the matters that should have been considered by the lender is also included.
Michael G. Cortina, Smith Amundsen LLC, Woodstock
George M. Olson, The Private Bank, Oak Brook
Construction and Title Insurance
This segment addresses important construction escrow procedures (including lien waivers, sworn statements and escrow agreements), title insurance policies and coverages (including mechanics’ lien coverage), red flags in construction escrow disbursements, and the obligations of an escrowee acting without instructions, including potential pitfalls contained in the fact pattern.
Martin Cann, First American Title Insurance Company, Warrenville
Kerry R. Dahm, First American Title Insurance Company, Warrenville
Ted M. Niemann, Schmiedeskamp Robertson Neu & Mitchell LLP, Quincy
12:45 – 1:15 p.m. Mechanics Liens
This panel presentation discusses mechanics’ liens from the perspectives of a developer, builder, lender, purchaser, and subcontractor regarding the fact pattern subdivision construction project that is subject to substantial problems.
Robert J. Duffin, Attorney at Law, Joliet
Scott M. Hoster, Castle Law, Joliet
Myles L. Jacobs, Castle Law, Joliet
Samuel H. Levine, Miller Canfield Paddock and Stone PLC, Chicago
Foreclosures and Bankruptcy
Join us for an in-depth look at how mechanics’ lien foreclosure impacts the fact pattern construction project. Topics include: competing mortgages in foreclosure and mechanics’ liens priority issues; and the effect of the builder’s bankruptcy on the construction project and the interests of the developer, lender, real estate purchasers, and mechanics’ lien claimants.
Myles L. Jacobs, Castle Law, Joliet
Samuel H. Levine, Miller Canfield Paddock and Stone PLC, Chicago
Erica C. Minchella, Minchella & Associates Ltd, Skokie
Margery Newman, Deutsch Levy & Engel Chtd., Chicago
Summary and Observations
This segment examines the fact pattern court’s findings and holdings, as well as related lien priorities, equity-based outcomes, and more.
Robert J. Duffin, Attorney at Law, Joliet
Scott M. Hoster, Castle Law, Joliet
Myles L. Jacobs, Castle Law, Joliet
Ted M. Niemann, Schmiedeskamp Robertson Neu & Mitchell LLP, Quincy
How Time Would Change the Outcome
Don’t miss this presentation that examines how recent case law and legislation would affect the outcome had the fact pattern occurred today.
Scott M. Hoster, Castle Law, Joliet
Samuel H. Levine, Miller Canfield Paddock and Stone PLC, Chicago
Margery Newman, Deutsch Levy & Engel Chtd., Chicago
Conclusion and Questions
This interactive panel discussion summarizes construction project-related issues, applicable laws, and best practices.
Robert J. Duffin, Attorney at Law, Joliet
Myles L. Jacobs, Castle Law, Joliet
Ted M. Niemann, Schmiedeskamp Robertson Neu & Mitchell LLP, Quincy
Pricing Information
- Please Note: You must attend the entire program in order to earn MCLE credit for this seminar.
- ISBA sponsoring section members get a $10 registration discount (which is automatically calculated in your cart when you log in to register).
- Fees:
- ISBA Member Price of $180 is displayed below when you login and program is eligible for Free CLE member benefit
- Non-Member Price $300
- New Attorney Member (within the first five years of practice) - $25
- Law Students - Free