Events
Date:
5 Aug 2009
Webinar - Mothballing a construction project: what happens to contracts, financing and improvements?
Where:
Webinar
Adjacent to DLA Piper’s Chicago office is a concrete high-rise skeleton; a few blocks north is a stalled mid-rise hotel; and along Lake Shore Drive is a site that was backfilled immediately after caissons were completed. Construction projects that are moving ahead today may become tomorrow’s mothballed sites if the developer cannot obtain financing, does not reach its sales or leasing benchmarks, or decides that the project is no longer economically feasible.
At our one-hour breakfast briefing in Chicago (or via webinar worldwide), our panel discussed how mothballing can impact a project’s contracts, financing and physical improvements—from the perspective of owners, lenders and developers. The program covered termination and suspension of contracts, managing payments and reserves, identifying and negotiating with creditors and claimants, managing construction issues that arise with municipalities, and securing the site until construction resumes or the project is sold.
For questions please contact Joy Carlson at .
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