What Happens Next after Cypress (NJ)

The New Jersey Supreme Court in Cypress Point Condominium Association, Inc. v. Adria Towers, LLC., et al. (A-13/14-15)(076348) finally put to rest (in New Jersey) an issue that has been haunting general contractors and developers since 1979. That is the year when Justice Clifford penned Weedo v. Stone-EBrick, 81 N.J. 233 (1979), denying a faulty workmanship claim, under products-completed operations coverage, based on two specific business risk exclusions that have not existed in liability policies since 1986. The issue decided by Cypress is whether faulty workmanship claims constitute “property damage” caused by an “occurrence.” This is a threshold issue to come within the insuring agreement of liability policies that provide for “products-completed operations” coverage.       Read the PDF…………..

Related Articles

Bill In the MD General Assembly Would Permit Restrictions and Prohibitions On Smoking By Condos, HOAs

House Bill 500, now pending the Maryland General Assembly, provides for a proposed amendment to Section 11-104 of the Maryland

Harlem (NY) developers blocked from condo sales, ordered to deposit $3.2M

Two developers and a lawyer involved with the 68-unit Mirada condominiums in Harlem have been temporarily banned from developing apartments

Managing Amenities: Who’s in Charge of What?

Whether a building is a luxury high rise with an in-house movie theater, rooftop pool, and climate-controlled wine cellar or