Every now and then the listserv for the North Carolina Bar Association’s Bankruptcy Section lights up with a discussion which is of interest to creditors. One such discussion occurred recently regarding the duty of a creditor to report payments to…
The Federal Reserve administers a key economic indicator, the federal-funds rate. Banks use the federal-funds rate to conduct overnight transactions which trade account balances maintained at the Federal Reserve. When the Fed raises this key rate, personal and business loan…
An oft disputed, and occasionally misunderstood, provision in construction contracts is that of Liquidated Damages (commonly referred to as “LDs”). Generally speaking, Liquidated Damages refer to a sum of money which a party to a contract agrees to pay to…
Oftentimes when there are claims involving quality of construction, non-payment of subcontractors or suppliers, or payments due to a general contractor for money due from an owner, issues of licensure suddenly appear. Whether or not a general contractor and certain…
“North Carolina is a debtor-friendly state.” A prominent North Carolina lawyer shared that sentiment with his newly-minted lawyer-daughter over and over again. She initially failed to appreciate the import of those words. After 20+ years of practice, the truth of…
Non-Compete clauses have been an important tool in business practice for many years, used primarily in employer/employee relations and also as part of business purchases, both within the context of limiting future competition and adding value to the business. When…
Bankruptcy is designed to give debtors a “fresh start.” Accordingly, a bankruptcy discharge releases a debtor from liability for certain debts which the bankrupt party previously owed. A debt discharged in bankruptcy is no longer owed. Bankruptcy is often cruel…
The North Carolina Land Title Association (NCLTA) played a large role in the 2012 updates to North Carolina’s construction lien statutes, and the NCLTA was again active in shaping 2017 revisions. The 2012 updates benefited title insurance companies by creating…
A Wake County Superior Court Judge issued a ruling this week in a highly publicized land development / zoning case. The ruling ended another chapter in this highly controversial case, and further appeals are very possible. The case centers around whether a…
Some businesses must pay income taxes. Some need not. Some businesses must file annual federal tax returns. Some need not. During tax season, these issues obviously take on added importance. We have recently fielded dozens of related questions and formed…
Since 1983, federal statutory provisions have required that 10% of funds authorized for highway and transit financial assistance programs be expended with DBEs. According to the United States Department of Transportation, the DBE (Disadvantaged Business Enterprise) program is designed to…
Projects funded by North Carolinians’ tax dollars are not subject to mechanic’s liens, so the legislature long ago crafted legislation known as “the Little Miller Act.” Modeled on a federal act known as “the Miller Act” (or “Big Miller”), the…
A home renovation opens up new opportunities to update and enjoy your house. You are starting a process that will make your house more of a “home”! A major renovation is an investment in the future needs of your family,…
Over ten years ago, I had the opportunity to take the 40-hour course required to become a mediator certified by the North Carolina Dispute Resolution Commission to conduct Superior Court Civil mediated settlement conferences. It was by far the best…
Mergers and acquisitions. Investments of capital. Changes of ownership. Merger and acquisition trends track closely to the larger economy. 2015 saw historically high transaction rates. According to Deloitte’s Year-End Report, “[2016] started with a thud…But in October, US companies unleashed…