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Renovating construction liens

Thursday, November 17, 2016 @ 7:00 PM | By Sharon Vogel and Bruce Reynolds

One of the key issues raised by stakeholders during the review of the Construction Lien Act related to the statutory trust provisions contained in Part II of the act and their enforceability in the event of insolvency or bankruptcy.

Many suggested that the act be amended to strengthen the trust provisions in order to promote certainty and predictability to the industry.

The trust provisions are, of course, intended to keep funding within the “construction pyramid” until all accounts for work and services are paid in full....