Loren Kean Law

Loren Kean Law

Loren Kean Law

FLORIDA’S CHAPTER 558 PROCEDURES FOR CONSTRUCTION DEFECT DISPUTESMichael R. Billings and Bruce E. Loren | Jul 28 2021

In construction defect disputes, owners must comply with certain procedures before filing a lawsuit against a contractor.  These procedures are contained within Florida Statutes Chapter 558.  This newsletter describes the mechanics of Chapter 558 and how a contractor should navigate through it.

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PRIORITY AND PERFECTION OF SECURITY INTERESTSAllen J. Heffner and Bruce E. Loren | Jul 26 2021

One of a Factor’s main protections is its blanket security interest in all the Client’s assets, including the Client’s receivables. The security interest gives the Factor some level of protection that it will be able to be made whole in the event things go sideways. The security interest is most often provided for in standard language in the Factoring Agreement whereby the Client agrees to provide the Factor with a first priority security interest in the Client’s collateral. However, to be effective and have priority against other secured and unsecured creditors, the Factor must properly perfect its security interest. While these are relatively straightforward issues, we have seen Factors run into unwanted and preventable difficulties relating to the perfection of their security interests. This article covers the general basics of what a Factor must do to perfect its security interest and some lessons to be learned from others’ mistakes.

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TO ARBITRATE OR NOT TO ARBITRATEMichael R. Billings and Bruce E. Loren | May 07 2021

Many business contracts contain a section detailing how disputes between the parties will be resolved.  Some require the contracting parties to attend arbitration instead of court.  This newsletter explains these arbitration provisions, as well as their pros and cons, to assist you with determining whether to include them in your contracts.

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ADDITIONAL DILIGENCE FACTORS SHOULD PERFORM BEFORE FACTORING CONSTRUCTION RECEIVABLESAllen J. Heffner and Bruce E. Loren | May 05 2021

Generally, factoring construction receivables involves more risk that traditional factoring. However, there are many advantages to factor in this niche market, such as the additional security to Factors provided by lien and bond rights, and the possible reimbursement of attorneys’ fees and costs from Account Debtors. To be successful in this market, Factors must master technical knowledge of the construction industry and perform additional and continuous due diligence of its Client. If the Factor is willing to take these extra steps, it can be a great time to factor construction receivables.

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LOREN & KEAN LAW ASSISTS CLIENT WITH SUCCESSFUL BID PROTESTKyle W. Ohlenschlaeger and Bruce E. Loren | Mar 22 2021

Recently, the team at Loren & Kean Law assisted a client with a successful protest of a county bid award to another bidder. After the county reviewed our protest, it deemed the lowest-bidder’s bid non-responsive and issued a revised award to our client. Putting together the protest required a fast response and collaboration with our client. As a result of the experience, we have come up with a few practical points our clients should be aware of in the event a bid protest needs to be filed. In short, these tips come down to a simple recommendation: get your attorney involved as soon as the award is issued.

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BEYOND THE NON-COMPETE AGREEMENTMichael R. Billings and Bruce E. Loren | Mar 17 2021

Businesses often encounter employees who leave to work for a competitor, encourage their colleagues to leave, or steal confidential information and/or customers.  Employers can discourage this behavior through agreements prohibiting these actions (i.e., restrictive covenant agreements) so long as they are intended to protect the employers’ trade secrets, confidential information, customer relationships, goodwill, and/or advanced training (i.e., legitimate business interests).  The most well-known is the non-compete agreement, which restricts or prohibits employees from competing against their employer.  However, these are difficult to enforce.  Fortunately, employers also have non-solicitation agreements and non-disclosure agreements at their disposal, which are easier to enforce.

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BEYOND THE NON-COMPETE AGREEMENTMichael R. Billings and Bruce E. Loren | Mar 17 2021

Businesses often encounter employees who leave to work for a competitor, encourage their colleagues to leave, or steal confidential information and/or customers.  Employers can discourage this behavior through agreements prohibiting these actions (i.e., restrictive covenant agreements) so long as they are intended to protect the employers’ trade secrets, confidential information, customer relationships, goodwill, and/or advanced training (i.e., legitimate business interests).  The most well-known is the non-compete agreement, which restricts or prohibits employees from competing against their employer.  However, these are difficult to enforce.  Fortunately, employers also have non-solicitation agreements and non-disclosure agreements at their disposal, which are easier to enforce.

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