Real Estate

  • May 23, 2016

    Nuns' Atty Facing Contempt In $14M Katy Perry Convent Row

    A California judge on Monday set a contempt hearing for an attorney representing nuns who unsuccessfully attempted to block Katy Perry's $14 million purchase of their former convent from a Catholic archbishop, after the church said the nuns are holding things up by keeping key property records.

  • May 23, 2016

    Mich. Tribe Says State Defenses In Boundary Row Irrelevant

    The Little Traverse Bay Bands of Odawa Indians told a Michigan federal court Friday that arguments regarding the potential disruptive effects of tribal authority by the state’s governor and others are irrelevant to the tribe’s bid to define its reservation boundaries.

  • May 23, 2016

    Ski Resort Says Atty Fees Untimely In $350M EB-5 Fraud Suit

    The receiver for the estate of the Jay Peak Resort, sued by the SEC over an alleged $350 million fraud scheme involving the EB-5 immigrant investor program, objected Friday in Florida federal court to a bid by Berger Singerman LLP for attorneys' fees, saying the estate is illiquid and cannot pay at the moment.

  • May 23, 2016

    Airlines Ask Court Not To Redo WTC Insurance Payout Tally

    Airlines sued by World Trade Center Properties LLC in connection with the 9/11 attacks have asked a federal court not to recalculate how much money the property developer collected from insurers after the attacks, saying a Second Circuit ruling last year upheld the court’s initial calculations.

  • May 23, 2016

    Starwood, Brookfield Pair Up To Sell German Hotels

    Starwood Capital Group and Brookfield Property Partners LP are teaming up to sell a portfolio of nine hotels in Germany to a company created by French real estate company Fonciere des Regions and other investors, the companies said Monday.

  • May 23, 2016

    Ex-Nomura Traders Say Gov't Can't Block SEC Suit Evidence

    Three former top Nomura Securities International Inc. traders asked a Connecticut federal judge to deny the government’s bid to block evidence in its case accusing them of lying to investors about pricing residential mortgage-backed securities trades, calling the attempt “at best, disturbing.”

  • May 23, 2016

    Gov't Says Reversal Doesn't Justify Recusal In Superfund Suit

    The government fought back Friday against Titan Tire Corp. and parent company Dico Inc.’s request that an Iowa federal judge recuse himself from a $3 million PCB-contamination suit, arguing their dissatisfaction with the judge’s previous ruling isn’t grounds for recusal.

  • May 23, 2016

    High Court Won't Hear Supermarket Antitrust Appeal

    The Supreme Court on Monday said it would not review a Third Circuit decision reviving a real estate developer’s claim that a New Jersey ShopRite chain's operator used anti-competitive tactics to block another supermarket from opening, according to an order list issued by the high court. 

  • May 23, 2016

    NHI Acquires 5 Bickford Senior Facilities For $87.5M

    National Health Investors Inc. said Monday that it has exercised its purchase option to acquire five assisted living and memory care facilities owned and operated by Bickford Senior Living for $87.5 million.

  • May 23, 2016

    BofA Dodges $1.3B Mortgage Fraud Fine

    The Second Circuit on Monday threw out a New York district court judge’s $1.3 billion penalty against Bank of America over a financial crisis-era mortgage program, determining that the bank can’t be held liable for fraud for what may have been an intentional breach of contract.

  • May 20, 2016

    Northern Arapaho To Mediate With Feds In Shoshone Dispute

    The Northern Arapaho Tribe agreed Friday to pursue mediation with the federal government and voluntarily dropped its claims against Eastern Shoshone officials in its suit alleging the Bureau of Indian Affairs wrongly gave the Eastern Shoshone Tribe its blessing to take control of programs regulating joint tribal land.

  • May 20, 2016

    Foreclosure Firm Parent Argues To Dismiss Chancery Suit

    The owners and executives of a foreclosure services firm argued Friday to have a third-party breach of fiduciary duty suit dismissed in Delaware Chancery Court, saying the law firm suing them failed to properly plead its claim.

  • May 20, 2016

    9th Circ. Won’t Rehear Ariz. Tribal Gaming Compact Row

    The Ninth Circuit on Thursday declined to reconsider its decision finding the Tohono O’odham Nation’s gambling compact with the state of Arizona clearly permitted the operation of a Phoenix-area casino, denying a plea by rival tribes to shutter the establishment.

  • May 20, 2016

    NFL Alumni Org Can’t Escape $1M Breach Of Contract Suit

    A federal judge in Florida on Thursday denied the National Football League Alumni Association’s request to shoot down claims in a suit accusing it of cutting a retired player out of a $1.1 million annual payout related to an assisted living facility development. 

  • May 20, 2016

    Texas High Court Sides With Ocwen In Lien Release Row

    The Texas Supreme Court determined Friday that the state constitution does not entitle a homeowner to full repayment of a home equity loan's principal and interest simply because the lender failed to comply with a constitutional requirement to release liens once the loan is paid.

  • May 20, 2016

    Lewis Brisbois Sues Developer Over Fire That Scorched Office

    Lewis Brisbois Bisgaard & Smith LLP has sued the Los Angeles developer of an unfinished apartment complex that caught fire, alleging the developer’s lack of safety preparations meant the fire grew into an inferno that roasted the firm’s next-door offices, forcing it to move.

  • May 20, 2016

    Etre Pulls $33M IPO, Blames Adverse Market Conditions

    A subsidiary of Etre Financial Inc. withdrew a $33 million initial public offering meant to fund the purchase of a single Philadelphia development, citing unfavorable market conditions, according to documents filed Thursday with the U.S. Securities and Exchange Commission.

  • May 20, 2016

    BofA Wants End To RICO Reinsurance Kickback Suit

    Bank of America Corp. on Friday asked a Pennsylvania federal judge to dump a proposed class action over alleged kickbacks garnered from overpriced mortgage insurance, saying that the Racketeer Influenced and Corrupt Organizations Act suit came too late.

  • May 20, 2016

    Pot Companies Eyeing California Ahead Of Nov. Election

    California, which has already made medical marijuana legal, is voting in November to legalize recreational pot, and lawyers say companies across the U.S. and the world are looking to do land acquisition and leasing deals in the state, despite numerous hurdles.

  • May 20, 2016

    Activists Can't Halt NJ Battlefield Construction, Court Hears

    The Institute for Advanced Study argued Thursday that there is sufficient evidence supporting an environmental regulator’s determination that a historic battlefield in Princeton, New Jersey, contains no protected wetlands, blasting activists' latest efforts to halt a planned residential development.

Expert Analysis

  • Scope Of The Amendments To Bankruptcy Rule 3002.1

    Phoebe S. Winder

    Although the recently adopted amendments to Rule 3002.1 clarify when a notice of payment change is required, they do not address the difficulties of calculating timely payment amounts for daily simple interest accounts and home equity lines of credit, and the burdens associated with filing PCNs for the often de minimis monthly changes on these types of accounts, say attorneys with K&L Gates LLP.

  • 4 Considerations For Residential Mass Appraisal Valuation

    Niall MacMenamin

    Litigation involving residential real estate often requires using statistical tools that can instantaneously value many different properties, like automated valuation models. If used correctly, AVMs provide objective value estimates cheaply and quickly, but they have certain limitations that attorneys must take into account, say Niall MacMenamin and Hristina Bojadzieva at Analysis Group Inc.

  • OPINION: Sotomayor's Solution To Pro Bono Is Incomplete

    David A. Lash

    In calling for mandatory pro bono service, U.S. Supreme Court Justice Sonia Sotomayor is effectively using her bully pulpit to advance the cause of access to justice for the poor. Her courageous leadership is a clarion call to action that must be heeded. But bold as it may be, the pronouncement is incomplete, says David Lash, managing counsel for pro bono at O’Melveny & Myers LLP and a member of the Association of Pro Bono Counsel.

  • Creating Barclay Damon: Lessons From A Law Firm Merger

    John P. Langan

    Joining two firms with long histories meant not only combining cultures, philosophies and deeply rooted ways of doing business, but also combining two IT systems, two accounting systems, and two ways of handling many other administrative functions. It didn't help that the firms had different fiscal year ends, says John Langan, managing partner of Barclay Damon LLP.

  • Why Mediations Fail And What To Do About It

    Cecilia H. Morgan

    The standard responses for why mediations fail are “wrong people, wrong time, no joint session,” but in interviews with colleagues and fellow mediators, Cecilia Morgan at JAMS ADR takes a look at other common reasons why mediation are unsuccessful, and the best ways to guide a mediation to a satisfactory conclusion.

  • Reflecting On The 20th Anniversary Of BMW V. Gore

    Andrew Frey

    On May 20, 1996, the U.S. Supreme Court held that a $2 million punitive damages award imposed for a tort that caused $4,000 in economic harm was unconstitutionally excessive. In the ensuing 20 years, BMW v. Gore has proved to be a foundational case in punitive damages jurisprudence. We were fortunate enough to have played a role in this historic decision, say Mayer Brown LLP partners Andrew Frey and Evan Tager and Maserati North Am... (continued)

  • Corporate Counsel: Consumer Becomes Provider (The Sequel)

    Mark A. Cohen

    Last week, we discussed why corporate legal departments are taking on so much more work themselves instead of outsourcing it to law firms. This is, of course, an ominous sign for law firms and the traditional partnership structure. So too is disaggregation and the emergence of legal service providers as well as others — notably the Big Four — poised to enter the gargantuan legal services market, says Mark A. Cohen of Legal Mosaic LLC.

  • Recent State And Local Tax Developments In Pennsylvania

    James R. Malone Jr.

    The past six months have brought a number of significant state and local tax cases with wide-ranging effects on businesses and individuals in Pennsylvania, including cases on the corporate net income tax, the Public Utility Realty Tax Act and the Local Tax Enabling Act, among others, says James Malone at Post & Schell PC.

  • Good News On 'Bad Boy' Guarantees

    Abraham A. Reshtick

    By recently reversing the position it took in a chief counsel advice earlier this year, the IRS has taken a position on “bad boy” guarantees that is consistent with the view of most professionals in the real estate industry, say attorneys with Mintz Levin Cohn Ferris Glovsky and Popeo PC.

  • Uncertain Effect Of Modified Like-Kind Exchange Rules

    Howard Allen Cohen

    President Obama in his fiscal year 2017 budget has proposed to modify the like-kind exchange rules for all real and personal property, thus dampening the pervasiveness of Section 1031 exchanges, though is unclear whether the government’s concerns are well founded or whether Section 1031 exchanges have fueled investment and benefited the economy, say Howard Cohen and Corey Strauss at Buchanan Ingersoll & Rooney PC.