Pyramid Development, LLC v. DuKane Precast, 2014 IL App (2d) 131131, vividly illustrates the importance of diligent record-keeping practices on construction projects and the dire financial consequences that can flow from a failure to do so. It emphasizes how crucial it is for a contractor to comply with Section 5 of the mechanic’s lien act – …
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General Contractor’s Bankruptcy Filing Means Extra Time For Subcontractor To File Lien Suit
Section 34 of the Illinois Mechanics Lien Act (770 ILCS 60/34) presents a way for an owner to quickly dispose of a contractor’s lien recorded against his/her property. Typically, the owner serves the Section 34 notice and the contractor must either sue to foreclose its lien within 30 days or it loses the lien. But what if after …