The Colorado Supreme Court (the “Court”) has now weighted-in on the requirements for foreign courts to create enforceable charging orders against Colorado LLCs. In JPMorgan Chase Bank N.A. v. McClure (2017 CO 22. No. 15SC816 (Colo. 2017)), the Court ruled that to be enforceable, foreign charging orders against a Colorado LLC must be either (i) procedurally domesticated in Colorado, or (ii) issued by a court with proper jurisdiction over the LLC or the membership interest in question.
Continue Reading Enforcing Foreign Charging Orders against Colorado LLCs
Construction Contract Legislation Fails in Committee
By Otten Johnson on
To update our previous post, Colorado Senate Bill 12-181 regarding construction contracts failed today in the Senate Business, Labor and Technology Committee by a vote of 6-1.
Proposed Legislation Would Profoundly Impact Colorado Construction Contracts
By Otten Johnson on
A last minute bill has been introduced in the Colorado Senate. Colorado Senate Bill 12-181, introduced last week by State Senator Lois Tochtrop, proposes new requirements related to construction projects in Colorado. These proposed changes are not favorable to property owners in Colorado and will limit the ability of property owners to negotiate business terms…
More to Consider on the Colorado Trust Fund and Mechanics’ Lien Statutes
By Dimitri Adloff on
Posted in Liens, Litigation
A few months ago, I wrote about a recent Colorado Court of Appeals decision that gave a broad interpretation to the Colorado Trust Fund Statute. That decision highlighted the importance of maintaining strict accounting practices and segregating funds for each separate construction project. As a follow up to that post, I would like to…
Contractors Beware: Trust Fund Statute Receives Broad Interpretation
By Dimitri Adloff on
Posted in Liens, Litigation
As Jamie C. Belgum reported in the Colorado Bar Association’s Business Law Newsletter, the Colorado Court of Appeals recently decided a case that gives broad interpretation to the Colorado Trust Fund Statute, C.R.S. § 38-22-127.
The Trust Fund Statute requires contractors to hold funds they receive for a project in trust for the…