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Developers deemed third-party beneficiary to public works contract where obligated to use town’s engineering firm in construction of subdivision
  • Alston & Bird LLP
  • USA
  • February 13 2009

In Becker v. Crispell-Snyder, Inc., the Court of Appeals of Wisconsin held that developers of a residential subdivision could maintain a breach of contract claim against a town’s engineering firm based upon a public works contract between the engineering firm and the town in which the project was located


JP Morgan Chase and Citigroup announce home foreclosure moratorium
  • Alston & Bird LLP
  • USA
  • February 13 2009

Today, House Financial Services Committee Chairman Barney Frank (D-MA) released a letter from JP Morgan Chase CEO Jamie Dimon announcing a three-week foreclosure moratorium, through March 6, 2009, on "any new owner-occupied residential loans that are owned and serviced by JPMorgan Chase."


President Obama unveils Homeowner Affordability and Stability Plan
  • Alston & Bird LLP
  • USA
  • February 18 2009

Today, President Obama unveiled the Homeowner Affordability and Stability Plan, which is part of the Financial Stability Plan announced by Treasury last week


Wyoming Senate approves carbon storage bills
  • Alston & Bird LLP
  • USA
  • February 23 2009

The Wyoming Senate approved three carbon storage bills, HB 57, HB 58 and HB 80, all of which are focused on clarifying issues related to property rights and liability


Punitive damages are justified even where the defendant did not act with conscious indifference in creating the problem that led to damage if the defendant acted with conscious indifference in failing to correct the problem
  • Alston & Bird LLP
  • USA
  • October 24 2008

In Wildcat Cliffs Builders, LLC v. Hagwood, a landowner’s property was damaged by erosion and run-off water when a developer working on an adjoining property improperly constructed two concrete retaining walls on the landowner’s property and also graded over part of the landowner’s property, which destroyed over forty of the landowner’s hardwood trees


HUD secretary testifies to Senate banking committee on Homeowner Affordability and Stability Plan
  • Alston & Bird LLP
  • USA
  • February 26 2009

The Senate Committee on Banking, Housing, and Urban Affairs held a hearing today focusing on the Administration’s Homeowner Affordability and Stability Plan (the Plan


Treasury announces "Making Home Affordable" Program
  • Alston & Bird LLP
  • USA
  • March 4 2009

Today, the Treasury Department announced the 'Making Home Affordable' Program (Program


House delays vote on mortgage relief legislation
  • Alston & Bird LLP
  • USA
  • February 27 2009

Yesterday afternoon, the House delayed a vote on H.R. 1106, “Helping Families Save Their Homes Act of 2009” (the “Act”) after a little over an hour of debate, amidst unexpected opposition from some Democrats


Congressional Oversight Panel issues report on foreclosure mitigation
  • Alston & Bird LLP
  • USA
  • March 6 2009

This morning, the Congressional Oversight Panel (COP), established by Section 125 of the Emergency Economic Stabilization Act of 2008, issued a report entitled "The Foreclosure Crisis: Working Towards a Solution."


Loan modifications: the Making Home Affordable program
  • Alston & Bird LLP
  • USA
  • March 18 2009

Over the past few weekson February 18 and March 4the Obama administration has rolled out the Making Home Affordable program (MHA