The U.S. Department of Justice dismissed its only charge Thursday against an investor who had been accused of conspiring to manipulate the bidding process for tax lien auctions in state municipalities — just one week before his trial was set to begin.
A portfolio of five Tampa, Florida, office properties with nearly 576,000 square feet has changed hands for $111 million, according to an announcement Thursday from CBRE Group Inc., which brokered the deal for the seller.
With stock prices in China having fallen nearly 40 percent in less than three months, experts say the U.S. property market may be in for a ride as established Chinese players look poised to ramp up acquisitions and newcomers are likely to scale back. Here, Law360 looks at four ways the stock tumble could affect Chinese investment in U.S. real estate.
Greenberg Traurig LLP said Thursday it has beefed up its Orange County, California-based tax practice with two new property tax shareholders.
Prudential Real Estate Advisors has reportedly dropped $165 million on an Apple-leased campus in California, designer Alexander Wang is in talks to lease 75,000 square feet in New York, and sports data firm Stats is in discussions to lease 70,000 square feet in Chicago.
The family behind a Franklin Lakes, New Jersey, grocery and catering business has sued attorneys who guided them in a shopping center acquisition and related arrangements, accusing one of the lawyers of self-dealing and others, including a Cole Schotz PC member, of neglecting their interests.
Ballard Spahr LLP represented Hoffman-Madison Waterfront in its deal for more than $145 million in bonds — issued Thursday and to be used for a D.C. project that includes hotel and retail — a matter Orrick Herrington & Sutcliffe LLP and Hawkins Delafield & Wood LLP worked on as bond and disclosure counsel respectively.
Florida-based Gunster is bolstering its Tampa and Miami offices with the addition of two shareholders with expertise in international matters, real estate and employment, including one who is bringing his own employer consulting business, the firm said Wednesday.
A Ninth Circuit panel said Wednesday it would not revisit its published opinion affirming a lower court's dismissal of a nonfederally recognized Native American tribe's bid to assert title to thousands of acres of private land in California.
The city of Los Angeles on Tuesday dropped its discriminatory lending lawsuit against JPMorgan Chase & Co., with an agreement bringing to a close the first of four lawsuits the city filed against major banks.
A California federal judge on Thursday stayed a class action claiming Trans Union LLC violated the Fair Credit Reporting Act by not allowing consumers to contest criminal and terrorist alerts on their reports, agreeing that two pending U.S. Supreme Court decisions could reshape the case.
The Federal Circuit upheld a U.S. Navy contract decision as a proper small-business set-aside, finding Wednesday in a precedential decision that it was enough that the awardee would perform the management and coordination work for lodging and transportation for a military command center in New Jersey even though a major hotel chain would perform the physical labor.
Mortgage borrowers in New York federal court on Wednesday hit HSBC Bank USA NA., PHH Mortgage Corp. and various affiliates with a putative class action alleging they used an automated system to systematically charge defaulted consumers with unnecessary “property protection” fees.
Occidental Chemical Corp. told the Texas Supreme Court in oral arguments Thursday that the company was not liable for the design of a faulty machine that sprayed acid in a worker’s face, partially blinding him, because the machine was affixed to property Occidental sold and was no longer responsible for.
The Eighth Circuit upheld a Minnesota district court’s imposition of a $200,000 appeal bond on descendants of the Mdewakanton Band who are embroiled in a land dispute with 75 private landowners, local counties and the Lower Sioux Indian Community.
The monitor overseeing Citigroup Inc.’s compliance with last year’s $7 billion mortgage settlement on Thursday said the firm had been credited with approximately $162.7 million of the consumer relief required under the deal, marking a dramatic increase in relief the bank delivered.
State and local authorities in Washington are barred from taxing the Tulalip Tribes' business enterprise under federal law, the U.S. government told a federal court Wednesday, saying doing so interferes with the tribe's ability to be economically self-sufficient.
White & Case LLP represented UK & European Investments Ltd. in its roughly €65 million ($72.2 million) purchase of a 270-room Hamburg Marriott hotel from Clifford Chance LLP-counseled Union Investment Real Estate GmbH, according to an announcement by the companies on Wednesday.
Variant Holding Co. LLC urged the Delaware bankruptcy court Tuesday not to throw out the adversary action it lodged against its ex-CEO accusing him of interfering with its real estate portfolio sale, arguing that tens of millions of dollars and its prospect of reorganization are at stake.
A former client sued a Houston attorney in state court Wednesday, claiming the lawyer stole its money and faked a real estate transaction to pocket a purported loan, and that when confronted, promised restitution that hasn’t come.
Although it seems counterintuitive, real estate brokers are permitted to act as agents for both parties in a real estate transaction — provided that there is full disclosure and consent by both principals. However, in an active real estate market agents often aggressively pursue parties without realizing that they may have created an agency relationship, potentially undermining the entire transaction, says Michael Pensabene at Rose... (continued)
While real estate developers should be well versed in Florida’s construction laws, there are five particular aspects that developers should know backwards and forwards, say Charles Jimerson and Brittany Snell at Jimerson & Cobb PA.
On Aug. 25, the U.S. Securities and Exchange Commission filed a civil fraud suit against Lobsang Dargey, a real estate developer and alleged fraudster who also happens to be a brother-in-law of tennis star Andre Agassi. The complaint is relevant to investors and regional centers in the EB-5 industry, as well as to lawyers advising issuers in EB-5 offerings, say members of Mintz Levin Cohn Ferris Glovsky and Popeo PC.
While anti-concurrent cause provisions are enforceable in a vast number of policies and jurisdictions, the Ninth Circuit's Stankova decision has brought the enforceability of such clauses into question for fire losses in Arizona and in states that have adopted the New York standard fire insurance policy, say William Webster and Charles Cannizzaro at Robins Kaplan LLP.
Not only have oil and gas operators utterly lost the ability to secure drilling permits to develop shale assets in New York due to a statewide ban, but now the New York Court of Appeals and Second Circuit have compounded this injury by affirming the termination of state oil and gas leases at the expiration of their primary term, says Yvonne Hennessey of Barclay Damon LLP.
With more people choosing to live in cities and urban development booming, grocery retailers have spotted the market opportunity. The very active grocery retail markets of Boston and Washington, D.C., may serve as an example to retailers of how to successfully adapt the traditional suburban supermarket format to city living, say attorneys at Goulston & Storrs PC.
Under Chief Justice John Roberts, the U.S. Supreme Court has tended to be much friendlier to property rights than the Rehnquist court. At best, the Rehnquist court issued some confusing property rights decisions that have plagued the attempts of landowners to successfully litigate their takings claims — at worst, the Rehnquist court completely undermined their rights, says Paul Beard of Alston & Bird LLP.
There is a common saying in the law, "widows and orphans make bad law." Apparently, we can add banks to that too. Bedrock principles of law are all being rechiseled in favor of banks. But, there are still a few issues within res judicata and the statute of limitations which are being upheld and can be applied to successfully defend a foreclosure suit, says Evan Rosen founder of Rosen Law Firm PA.
The Second Circuit's noteworthy embrace of the filed rate doctrine in Rothstein v. Balboa Insurance Co. gives a strong boost to a doctrine that has come under scrutiny in the trial courts for some time, say attorneys at Dentons.
Two recent and unrelated legislative developments, which have largely gone unnoticed in the real estate tax realm, will dramatically raise the stakes for mortgage servicers and originators who file IRS Forms 1098, say attorneys at K&L Gates LLP.