The firm represented a general contractor client on a major rehabilitation project involving the redevelopment of historical land. The project was funded by numerous entities and involved a variety of stakeholders. During the course of the project, change orders and additional work were approved by the owner that were in excess of the scope of the project budget. At the time of project closeout, the owners were unable to make payment and the lenders refused to release payments for work that was performed within budget. At the firm’s direction, the client served a bonded stop notice on the lenders and pursued litigation. Ultimately, despite the owners being unable to make further payments, the client recovered over $1.6 million.
Counsel: P. Randolph Finch Jr. and Nowell A. Lantz