Construction Law Update: Fatino Quoted in National Association of Credit Management Article About Construction Liens
Attorney John Fatino was quoted in the November 12, 2020 article “Don’t Forget to Send a Notice to Owner in Minnesota” by Michael Miller, Managing Editor of Business Credit, an e-newsletter for the National Association of Credit Management (NACM).
COVID-19 has delayed the opening of the 1.2 million square foot Dayton’s project in downtown Minneapolis, Minnesota. Now, the owner faces a subcontractor’s mechanic’s lien for more than $270,000. The article explains the process of contractors, subcontractors and material suppliers must follow to file a mechanic’s lien on a project in Minnesota.
According to Fatino, “Credit professionals should be prepared to not only file the lien but be prepared to go all the way to the district court.” Since Minnesota is a pre-lien state, those preliminary time frames are so important. “You need to mark these times to be first in line and to not miss the deadlines,” he added. “Do the pre-lien notice immediately; have a system in place for timelines.”
The NACM promotes good laws for sound credit, protect businesses against fraudulent debtors, improve the interchange of credit information and develop better credit practices and methods. Read the article at the NACM website.