Recent Case: Lender Liability to Contractor

By -
Whitehead v. Tyndall Federal Credit Union, Florida First District Court of Appeal (September 16, 2010), Case No. 1D09-5221: Original contractor who had been terminated by homeowners prior to completion of construction sued lender for disbursing remaining loan proceeds to replacement contractor based on failure to give notice pursuant to section 713.3471(2)(a), F. S. Trial court agreed, but was reversed, with one dissenting vote, and lender was held liable to original contractor for balance of loan proceeds disbursed to replacement contractor.

Trenton H. Cotney
Florida Bar Certified in Construction Law
Glenn Rasmussen Fogarty & Hooker, P.A.
100 S. Ashley Dr., Suite 1300
Tampa, FL 33602
(813) 229-3333
http://www.glennrasmussen.com

Comments

  1. Elizabeth J. NealOctober 9, 2014 at 4:08 AM

    Trial court agreed, but was reversed, with one dissenting vote, and lender was held liable to original contractor for balance of loan proceeds disbursed to replacement contractor. case management software for attorneys

    ReplyDelete
  2. Anna SchaferDecember 21, 2014 at 3:26 AM

    Trial court agreed, but was reversed, with one dissenting vote, and lender was held liable to original contractor for balance of loan proceeds disbursed to replacement contractor. case management software

    ReplyDelete

Post a Comment

Popular posts from this blog

The Dotted Line: When Contractors Can Walk Off the Job

By -
When general contractors or subcontractors sign on to construction projects, they usually start off believing everything will run smoothly. But, during the course of the work, issues sometimes arise that force all parties to go running back to their contracts in order to evaluate their options. One of those options for construction companies is to simply stop work, but contractors need to take care when making such a big decision. “Stopping work and ultimately terminating the contract is one of the most radical things you can do,” said Joseph McManus Jr., attorney and shareholder at law firm Carlton Fields.   Luckily, most of the circumstances under which contractors are clearly entitled to stop work are included in the most popular standard forms of contracts. Nonpayment The most common reason that contractors find it necessary to stop work, McManus said, is that they haven’t been paid for approved invoices. In that scenario, he said, contractors have the ...
Read more

"Mass-timber" Sees Greater Use in Roofing and Construction Projects in Europe

By -
Image
The use of "mass-timber," or prefabricated engineered wood components is becoming more common in construction and roofing applications in Europe. In projects such as the galleria roof of a central city building in Surrey, it helps meet demand for wood structures to add visual appeal. From NRCA Trenton H. Cotney Florida Bar Certified Construction Lawyer Trent Cotney, P.A. 407 N. Howard Avenue Suite 100 Tampa, FL 33606 www.trentcotney.com
Read more