Understand the risks of mechanics liens
from subcontractors: Costly problems relating to mechanics liens
can come at a developer from a number of directions.
The webinar is led by an expert in the interaction between bankruptcy laws and mechanics lien
laws (Michael R.
According to the filing, the supplier of high-end home theater and security systems has a mechanics lien
against the property for $927,752.
Similarly, Sterling Mining Company has been issued a mechanics lien
from Miller Sales and Engineering, Inc for failure to pay Miller for services rendered.
The mechanics lien
claims held by the founding members of the Ad Hoc Group of Secured Trade Creditors constitute approximately 1/3 of the $11.
The broker's lien has become a powerful tool for brokers in that the lien has the same effect on property as a mortgage or the customary mechanics lien
Stetler (D-York), amends the Mechanics Lien
Law of 1963.
The servicer also reported a mechanics lien
may be filed on one of the properties due to unpaid bills for the renovations.
As part of the settlement, the subcontractors released all mechanics lien
claims associated with the project.
The developers allegedly incurred further default as millions of dollars of mechanics liens
were filed against the property by unpaid contractors, and the group insurance policy at the property was canceled.