Construction liens dispute
General Contractor and Development Company
Our client developed a six-story condominium project. When construction was nearly completed, the loan was depleted by cost overruns. The title became clouded by construction liens, and pending sales were unable to close. This led to a major dispute with the general contractor. The construction loan went into default and a junior lien holder was unwilling to subordinate to new financing. We successfully negotiated the resolution of all problems resulting in a new loan for the developer.