Residents of a New Jersey luxury apartment building that burned to the ground earlier this month have filed proposed class action suits against the building's owner, alleging AvalonBay Communities Inc. knew the building had been constructed using dangerously flammable materials.
The Pennsylvania-based insurance boutique Nelson Brown & Co. is facing a lawsuit in New Jersey state court over allegations that it defaulted on a lease agreement for office space vacated after the departure of a group of attorneys based in Camden County.
A New York appeals court upheld the dismissal of a negligent-misrepresentation claim in a $128 million suit alleging TCW Asset Management Co. lied to investors about the value of a collateralized debt obligation, ruling TCW was not in a position of trust as collateral manager for the mortgage-backed securities.
The federal bank fraud case against Michael A. Zimmerman was canceled Friday after the noted Dover, Delaware, developer who was accused of misusing millions of dollars in Wilmington Trust Co. loans was found dead.
Select Income REIT has priced $1.45 billion in bonds staggered over 10 years, with plans to use the proceeds to cover bridge loans and other lending that helped pay for its $3 billion acquisition of Cole Corporate Income Trust.
New Jersey gaming regulators on Thursday gave Seminole Hard Rock Entertainment Inc., the owner of the Hard Rock cafes, preliminary approval to move toward launching a casino in Atlantic City.
Missouri law firms Carmody MacDonald PC and the Law Offices of George A. Barton PC shed a legal malpractice suit Friday after a federal judge ruled the work they did representing clients in a mineral royalties fight with coal giant Peabody Energy Corp. did not constitute malpractice at all.
Ivanhoe Cambridge, the real estate offshoot of Canada's biggest pension fund, notched its second deal of the week with a Friday announcement that it has sold its 50 percent stake in a pair of Ontario shopping malls to another pension manager for $190 million.
As e-commerce continues to upend the brick and mortar store model, retailers are increasingly gaining the upper hand in tenant improvement negotiations, and in an attempt to land key retailers at their properties, landlords are allowing more and more of such provisions in leases. Here, Law360 looks at five considerations that may influence how much pull a tenant has when vying for tenant improvements.
Conglomerate John Keells PLC said Friday it would continue with a Sri Lankan waterfront project estimated at $850 million even without a casino — now that the new government is blocking such gambling venues — saying its multifaceted development retains broad appeal.
Real estate-focused private equity group HAS Capital LLC on Friday said that it has agreed to acquire $412 million worth of interests in certain asset-backed securities, structured financings and manufactured housing related assets from Origen Financial Inc.
Two real estate investors in Georgia have pled guilty for conspiring to rig bids for properties sold at public real estate foreclosure auctions in the state, the U.S. Department of Justice announced Thursday.
Shares in electric transmission-focused InfraREIT Inc. jumped nearly 30 percent above the first expected initial public offering range in the REIT’s debut on the New York Stock Exchange on Friday, opening at $27.10 per share.
Norway's sovereign oil fund on Friday put down £190.6 million ($286 million) to purchase an office building in London where the Norwegian central bank's management arm is a tenant from a real estate fund of Italy's Sorgente Group.
The Florida judge overseeing a shopping mall property’s bankruptcy suspended a Miami-based Duane Morris LLP partner for 90 days Wednesday for allegedly orchestrating a plan to fool the court into signing an “agreed order” that the opposing counsel hadn’t seen in an attempt to revive a $49 million real estate row.
Two U.S. congressmen introduced legislation on Wednesday that would make permanent the EB-5 immigrant investor visa program, which is highly popular in the real estate development world but slated to expire this fall.
Strategic Hotels and Resorts Inc., a hospitality real estate investment trust, on Thursday bought a Laguna Beach resort in California from Ohana Real Estate Investors LLC for $360 million.
Manatt Phelps & Phillips LLP has recruited a Debevoise & Plimpton LLP attorney with more than 20 years of real estate experience, including advising commercial lenders, pension funds and private equity firms, to bolster its New York office.
Silverstein Properties has reportedly paid more than $100 million for a New York development site, while Oxford Properties is said to have paid roughly $227 million for a Paris office property and GIC is said to be in discussions regarding future investment in Indian commercial and residential properties.
A judge on Thursday backed a settlement slashing the former Revel Casino's property tax assessment by $400 million, but held off ruling on a $125 million financing package from Wells Fargo NA as the bank nears a deal with unsecured creditors that would resolve their objections.
California is a great place to live, but it can be a challenging place to do business, with one of the biggest challenges being the multitude of wage-and-hour class actions filed each day. I never had a "starter kit" when I first began my in-house practice, but I certainly wish someone had given me one, says Francis Drelling, general counsel with Specialty Restaurants Corp.
With more precipitation in the forecast after winter storm Juno hit the Northeast, the threat of snow load roof collapse claims has suddenly become very real and insureds should consider whether a collapse has occurred under their policy and if time element coverages apply, says Seth Jackson of Zelle Hofmann Voelbel & Mason LLP.
While e-discovery remains a critical pain point in litigation, the "solutions" supporting its processes continue to evolve. In order to help organizations navigate the sea of options, we conducted research with 21 organizations across e-discovery market segments to understand the factors involved in successful e-discovery investments, says David Houlihan of Blue Hill Research Inc.
It is not possible to appeal an arbitration award to a court on the usual appellate grounds under federal or state law, but CPR, JAMS and the American Arbitration Association offer parties an optional appeal within the arbitration process based on the parties’ agreement. While these procedures have much in common, each has its own distinctive features, including the grounds for appeal, says Joan Grafstein of JAMS.
At its December session, the Judicial Panel on Multidistrict Litigation considered the second attempt by a distributor of dietary supplements to create an MDL proceeding, raising the prospect of the first Hawaii MDL proceeding in nearly 20 years. But as we gear up for the panel hearing on Thursday, let's also consider how JPML trends of 2014 compare with prior years, says Alan Rothman of Kaye Scholer LLP.
Historically, California landlords have taken refuge in the protections afforded by including a nonwaiver clause in their leases. And under most circumstances, courts will enforce such nonwaiver provisions. But there are exceptions that can leave landlords without the protection they expect, says Sylvia Arostegui of Nossaman LLP.
The U.S. Department of Justice's recent civil action against Honduran government official Mario Roberto Zelaya Rojas serves as a reminder to corporations and individuals abroad how easily even wholly foreign criminal conduct may come within the reach of U.S. law enforcement authorities, say Kathleen Hamann and David Courchaine of White & Case LLP.
In Jesinoski v. Countrywide Home Loans Inc., the U.S. Supreme Court broadly read the Truth in Lending Act’s rescission rights and will force lenders to make difficult decisions on requests to rescind a loan made years after it was funded, say Scott King and Richard Freshwater of Thompson Hine LLP.
After the Minnesota Supreme Court's recent ruling in Cedar Bluff Townhouse Condominium Association v. American Family Mutual Insurance Co., to avoid having an appraisal panel decide issues of coverage, which are still subject to later judicial review, parties need to resolve coverage issues before submitting disputes to appraisal, says Scott Johnson of Robins Kaplan LLP.
All stakeholders agree the Brownfield Cleanup Program has significantly driven the cleanup and redevelopment of contaminated properties in New York state. There is also broad consensus that the program should be extended, but with changes to better target tax credits to sites that need them most. A number of recommendations are now on the table, say co-chairmen of the New York State Bar Association's Brownfield Task Force.