Vanity Fair magazine asked a panel of 52 experts to pick the world's five most important post-1980 architectural works. The Guggenheim Museum in Bilbao, Spain by design architect Frank Gehry (below) topped the list. And there's a slide show of the others in the top 21.
Photo: Peter Knaup
Welcome to the second article in a three-part series on Illinois surety bonds, compliments of guest author Danielle Rodabaugh. Danielle is a principal for SuretyBonds.com and is discussing the three basic types of construction bonds:
● Performance bonds
● Payment bonds
Today we will explore performance bonds.
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Wrongful Contract RepudiationCan you sue the FDIC for wrongful repudiation of a contract? This was a question during a presentation on contract repudiation I gave last week. At least one set of borrowers and guarantors seem to be trying to answer that question.
Christopher Frye and companies he controls borrowed money from, and guaranteed repayment to, the New Frontier Bank in Greely, Colorado. After the bank failed and the FDIC was appointed as receiver, the FDIC repudiated those loans with hundreds of thousands of dollars in as yet undisbursed funds. The result: no more funding.
The borrowers and guarantors (collectively here all together, the "borrowers") sought repudiation damages through the FDIC administrative claims process. Receiving an unsatisfactory decision, they sued the US government in the United States Court of Federal Claims by filing this complaint (PDF).
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Construction Law Today is a legal blog about construction contracts, disputes, finance, and the people whose job it is to deal with them.More...
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