Asi liquidating corp

Posted by / 29-Aug-2017 02:18

Asi liquidating corp

The appellate court also rejected ASI’s argument that MDOT’s own dilatory behavior in failing to timely approve ASI’s scaffold plan prevented the assessment of liquidated damages.The Court affirmed the general principal that a party seeking to impose LDs cannot interfere with the other party’s performance causing the other party to fail and triggering LDs.Because ASI did not timely request a time extension, MDOT did not breach the contract by declining to grant that request.Further, the contract did not support ASI’s argument that ASI could wait until the end of the project to seek a time extension; instead, ASI was required to seek an extension each and every time an impediment to its work occurred.Otherwise, your property could be tied up for years without this income stream and no ability to exit the deal. Lease Terms Pay careful attention to the terms of the lease as they vary greatly.Some provide terms up to 25 years with rate increases every 5 years – others do not. Are you entitled to any late payment fees or collection costs?Aileen Leipprandt practices in the areas of commercial and real estate litigation and construction law.She has represented a variety of clients in these areas, including developers, design professionals, contractors, subcontractors, owners, sureties, manufacturers, governmental agencies, insurers, and suppliers.

The Court deemed it irrelevant that ASI could not work during the planned winter shutdown, because LDs were based upon the total delay, not discreet periods of time during the contract performance.

However, in this case, the contract provided a mechanism for ASI to seek an extension of time.

Since MDOT could contractually extend the time for performance, then MDOT causing a delay was not synonymous with obstructing ASI’s performance unless MDOT improperly failed to grant an appropriate extension.

ASI sued the State challenging the LDs assessment for a number of reasons.

For instance, ASI argued that the LDs should not apply to 362 days of the planned winter shutdown during which it was impossible for MDOT to suffer any losses and that the LD clause was void for failing to be a good-faith effort to estimate losses.

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