The new owner of the RadioShack brand, General Wireless Operations Inc., just filed for Chapter 11 in the United States Bankruptcy Court for the District of Delaware. This is the second Chapter 11 filing for the brand in two (2) years (a chapter 22 filing, like the recent EMS brand filing).
The 61-year old Indianapolis-based appliance and electronics chain, HH Gregg, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Indiana. The company has struggled with declining sales for about four years. According to Reuters, HH Greg has a signed a term sheet with an unnamed party to purchase its assets, and it is expected to emerge from the bankruptcy process in approximately 60 days. Of its more than 220 stores, the company plans to operate about 130 normally throughout the restructuring process. It said last week it would shut 88 stores.
While many contractors may not be aware of the existence of the New Jersey Prompt Payment Act, its application to construction litigation where payment is sought under either a general-contract or sub-contract is important to the industry. Continue Reading
Whether you are a general contractor or a subcontractor, you have probably come across a pay when paid clause within a subcontract or general contract. The idea of the clause is that the contractor or subcontractor would not be responsible for payment to a lower-tier contractor unless and until it has received payment pursuant to its contract with an upper-tier contractor or owner. While this is a good idea, the Courts have often found such provisions to be unenforceable.
New Jersey approved a gas tax in 2016 to replenish the New Jersey Transportation Fund. The proceeds of the tax are to be used to make infrastructure improvements throughout New Jersey. In addition, the Trump administration recently announced a policy to support infrastructure projects on a national level.
Modification of highway access is one of the most problematic and confusing areas of the law. As a general rule, the government’s use of its “police power” enables it to regulate the state highway system. In New Jersey, the government also has the benefit of the Highway Access Management Act.
In adopting the Highway Access Management Act, the New Jersey Legislature declared: (1) “[t]he State has a public trust responsibility to manage and maintain effectively each highway within the State highway system to preserve its functional integrity and public purpose for the present and future generations” (N.J.S.A. 27:7-90c), and (2) “[t]he access rights of an owner of property abutting a State highway must be held subordinate to the public’s right and interest in a safe and efficient highway.” (N.J.S.A. 27:7-90g).
Often, the government will use these powers to change access to a property and refuse to pay just compensation or damages to the owner. If the change in access is severe but does not rise to the level of an actual taking, the property owner may be left with no recourse. This article provides a brief overview of the process for the modification of highway access.
Legislation geared towards establishing a loan program for vineyard and winery capital expenses was released by the Assembly Commerce and Economic Development last month. The bill (A-4274) would direct the New Jersey Economic Development Authority (“EDA”), in consultation with the Department of Agriculture (“Department”), to create a loan program and application process for the purpose of supplying loans to certain eligible vineyards or wineries to pay for qualified capital expenses.
Reuters reports Gander Mountain, the St. Paul based hunting and fishing chain, is preparing to file for bankruptcy. The bankruptcy is reportedly due to aggressive expansion that failed to draw new customers. Gander Mountain is known as America’s firearms superstore.
What is eminent domain and who uses it?
Eminent Domain is the power of the government to take private property and convert it into public use. Government agencies that use eminent domain include state government agencies like the Transportation department and local agencies tied to the municipalities. “The Fifth Amendment provides that the government may only exercise this power if they provide just compensation to the property owners.” This means if the government wants your land for public use it must buy it from you at fair market rates. Usually it tries to buy your property before going through the condemnation process.
A company that invents original technologies, unique compositions, or special development processes (“IP”) knows intuitively that it must protect those interests to stay ahead of the competition. However, knowing how to protect that IP is not quite so instinctual.