Phillips Way, Inc. v. Presidential Financial Corp.

ADKINS, Judge.

In this case, we must determine whether an accounts receivable lender is a “subcontractor” within the meaning of the Maryland’s construction trust fund statute, Md.Code. (1974, 1996 RepLVol.), § 9-201 et seq. of the Real Property Article (“Construction Trust Statute”). The Construction Trust Statute makes contractors and subcontractors liable in trust for monies paid to them for work done or materials furnished for a building by a subcontractor. Phillips Way, Inc., appellant, contends that the Circuit Court for Baltimore City erred in dismissing its complaint against…