We aggressively pursued full payment for our design-build client on a large-scale multifamily residential redevelopment project, asserting a substantial mechanics lien for the entire amount owed for extensive work performed, ranging from individual unit renovations to upgrades of common areas and building systems. Recognizing the importance of preserving our client’s ongoing relationship with the property owners, we employed a creative, collaborative negotiation strategy that resulted in a comprehensive settlement agreement exceeding typical payment plans. Understanding the owners’ refinancing needs, we structured a two-tiered agreement – one for the lender and title insurer to facilitate closing and release of escrowed funds, and a comprehensive agreement securing our client about 97% of the total amount owed through a 50% payment facilitated through escrow, a 27% immediate payment, and a 20% promissory note from the property owners’ principals, which was paid over time as expected. This multifaceted approach maximized our client’s financial recovery and fostered continued positive between all parties, paving the way for future collaboration.
