BOMA/Chicago Brown Bag Event: Dealing With Mechanics Liens in Difficult Times--May 6

In the current economy, the probability of having a mechanics lien placed on real property is rising. Many companies are "pulling the plug" on construction and rehab and facing payment problems for work on completed projects. These issues can lead to disputes about what may be owed to contractors, who turn to mechanics liens and lawsuits in order to seek payment.

These lawsuits can be very costly and time-consuming if not handled correctly. This presentation will help lenders, property owners and management companies understand how to address mechanics liens and limit their costs.

Attendees will come away from this presentation with pragmatic ideas for avoiding mechanics liens as well as action steps they should take once a lien is placed on a property.

Topics will include:

Understanding what a mechanics lien is and what implications it may have
Effective defenses against mechanics lien claims;
Strategic responses to lien filings or threat of lien filings;
Understanding and preparing for notice requirements;
The effect of a subcontractor being listed on a contractor's statement; and
effect of mortgages.

Speakers:

Richard Levy

is a partner in the Real Estate Department at Ungaretti & Harris LLP, where he focuses his practice in the areas of real estate and construction law, representing developers, builders, general contractors and financial institutions on matters such as acquisitions and dispositions, financing, workouts, distressed assets, land use, mechanics liens and architectural and construction contracts.

John Ruskusky is a partner in the Litigation Department at Ungaretti & Harris LLP. As a part of his practice, John represents lenders, owners and property management companies in a variety of construction and real estate disputes such as construction defect issues and lien claims. John has had significant experience with lien claims in Illinois courts and in lien disputes throughout the United States. This experience has assisted his clients' successful efforts to avoid and defeat brokers and mechanics liens early on in a dispute through identification of defects in a lien claim, negotiation and motion practice.

RSVP: Brown Bag Lunches are free for BOMA/Chicago members. To register, email info@bomachicago.org and enter "Brown Bag Seminar-Mechanics Liens" in the subject line.

Thank you to GSA for providing the meeting room for this seminar.