Category Archives: Firm News

Stephens Bell Team Resolves Lien Dispute

Stephens Bell successfully resolved a lien dispute between client Tradewind Homes, LLC and one of its subcontractors. Tradewinds asserted that it had paid in full for the work performed while the subcontractor asserted that it was owed a great deal more money.

A lien filed by the subcontractor jeopardized Tradewinds ability to close on a sale of the property. Tradewinds believed that the defective work and inexcusable project delays caused by the subcontractor effectively avoided any claim for additional payment. However, their primary concern was closing on the property and not losing the buyer due to the lien.

Tradewinds retained Stephens Bell to quickly resolve the lien so that it could move forward with the sale. After investigating the lien notices and the contract, Attorney Kenneth Stephens determined that the notices were insufficient to perfect the lien.

Attorney Jeff Bell eventually took over as lead counsel on the matter and communicated the insufficient notice to the subcontractor’s counsel. He also made a nominal offer in an effort to extinguish the lien without litigation. After further negotiations, the subcontractor signed a lien release and Tradewinds closed on the sale.

“This one was all about moving quickly so that the client could close and get a ROI on the project. I would have been more than happy to litigate this case because I didn’t believe that the lien would hold up. However, the client’s primary concern was closing as quickly as possible and litigation fees would have cost more than what the client paid to resolve this situation. In all, I think this was the best result for everyone under the circumstance.”Jeff Bell, Partner| Stephens Bell, PLLC

Advertisements

STEPHENS & BELL GET THE DEAL DONE

 

Attorney Kenneth Stephens Esq. of Stephens & Bell starts the year by helping to facilitate a corporate acquisition valued at just under $80,000.00. Stephens & Bell was retained when the deal looked to be going south with less than 10 days before closing. After working through some of the more problematic deal points and dedicating a couple of weekends to get the necessary documents ready for execution, the deal closed to the satisfaction of the firm and its client.

This is the second deal of this type that the firm has rescued from failure within the last six months. The previous transaction, involved a similar situated company in the insurance industry and was valued at over $200,000.00. Kenneth was also lead counsel on this transaction.

For more information about Stephens & Bell visit www.StephensBell.com

 

logo small