A Step Back for Holdback Trust Accounts: Amendments to New Brunswick’s Construction Remedies Act
New Brunswick’s Construction Remedies Act (the “Act”) received Royal Assent on December 18, 2020. The “new” Act, which replaces the Mechanic’s Lien Act, applies to all construction contracts entered into on or after November 1, 2021. On April 1, 2022 sections 37 and 38 of the Act came into force, creating and outlining the requirements […]
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