A shareholder of RAIT Financial Trust sued the Philadelphia-based real estate investment trust and its trustees in state court Monday, saying they were aware of a subsidiary’s practice of pocketing fees that led to a recent $21.5 million SEC settlement, but a deal to resolve the dispute is forthcoming.
Eight Minnesota counties and townships asked the Eighth Circuit on Tuesday to uphold a lower court’s June order sanctioning descendants of the Mdewakanton people for allegedly bringing frivolous claims in a land dispute, saying the descendants had no valid claim to a 12-square-mile tract.
Pacific Investment Management Co. and other investors on Tuesday filed the latest suit accusing Citibank NA of ignoring widespread problems with toxic residential mortgage-backed securities, claiming $2.3 billion in losses in a proposed class action in New York state court.
A juror in the trial of former New York State Assembly Speaker Sheldon Silver raised eyebrows when she asked to be excused just two hours into deliberations, citing discomfort and stress. But it certainly wasn't the first time that discussions in the jury room became dramatic. Here, Law360 looks at four times the actions of jurors threatened to overshadow trials.
A former Fried Frank Harris Shriver & Jacobson LLP tax partner who advises private equity funds and has worked on real estate transactions for some of New York City's most notable properties, including the iconic MetLife Building, has joined Gibson Dunn's New York offfice.
A Second Circuit panel on Wednesday affirmed a 121-month prison sentence handed down to a New York broker-dealer who pled guilty in 2011 to running a Ponzi scheme to finance his real estate investments, saying the district court was right to count spouses as separate victims.
A former race car driver convicted in connection with a scheme that took millions of dollars from Long Island businessmen and professional athletes asked a New York federal judge on Monday for a judgment of acquittal and a new trial, citing insufficient evidence and jury confusion.
The Second Circuit on Wednesday asked the Delaware Supreme Court for help in determining whether a group of investors can directly sue Citigroup Inc. over an alleged $800 million loss related to the bank’s residential mortgage-backed securities, rather than in a derivative suit.
Golenbock Eiseman Assor Bell & Peskoe LLP has reportedly leased 38,000 square feet in New York from REIT SL Green, Stonehenge Partners is said to be dropping $135 million on an Upper West Side rental property, and a Miami-area Marriott has reportedly sold for $16 million.
Douglas Shorenstein, who transformed his family’s eponymous San Francisco property development firm into a national powerhouse and who was a former Shearman & Sterling LP real estate attorney, died on Tuesday at age 60 after a battle with cancer.
Developers have a need for capital and typically look to joint ventures with equity providers for cash, and although capital providers often end up putting in the vast majority of the money in such ventures, lawyers say there are myriad potential missteps equity partners must be careful to avoid. Here, Law360 looks at five blunders that lawyers say equity partners in real estate joint ventures should avoid.
Intrawest Resorts Holdings Inc., with guidance from Dechert LLP, has struck an $85 million deal to sell its vacation club business to Diamond Resorts International Inc., according to a statement on Wednesday.
Federal and state officials' recent announcement of a funding agreement for the estimated $20 billion Hudson River tunnel project linking New Jersey and New York was a sign of progress, but questions surrounding the private sector's role in that massive undertaking and the political support necessary to seal the deal still loom large.
Bain Capital is selling $116 million worth of shares in motorcycle and scooter seller Hero MotoCorp Ltd., Syngenta AG is mulling potential takeovers, joint ventures or asset sales and German real estate giant Deutsche Wohnen AG is buying a residential property portfolio worth more than $1 billion.
Affiliates of Mirae Asset Global Investments Co. Ltd. have struck a $450 million deal to purchase the Fairmont San Francisco from a consortium led by Woodridge Capital and Oaktree Capital, according to an announcement late Tuesday.
The federal government and the Mechoopda Native American tribe Tuesday urged a D.C. federal judge to deny a California county’s summary judgment bid in its attempt to block a proposed casino, saying a 2014 decision to take land into trust settled the county’s objections.
PHH Corp. told the D.C. Circuit on Monday that the Consumer Financial Protection Bureau’s defense of a $109 million disgorgement order over an alleged mortgage reinsurance kickback scheme was “long on allegation and short on law,” claiming it wasn’t given fair notice that its conduct was unlawful.
The new owner of Revel Casino Hotel and its utility provider reached a $45 million settlement Tuesday that will end the litigation over a soured power supply contract and restart full electricity service at the shuttered New Jersey venue.
A juror in the corruption trial of former New York State Assembly Speaker Sheldon Silver asked to be excused from the panel shortly after deliberations began Tuesday, citing her discomfort and stress stemming from her "different opinion/view" of the case.
Google said on Monday it had launched a new free tool in partnership with Zillow and LendingTree that lets prospective homeowners compare more than 300 mortgages from over 75 lenders as they search for homes in California.
Several developments over the past few months caught the eye of Jim Maiwurm, chairman emeritus of Squire Patton Boggs. Try as he might, he could not resist the temptation to comment on a few — such as the expansion of the Dentons “polycentric” empire, a confused verein controversy, and provocative suggestions that the law firm partnership model is a dinosaur.
The amendments to the Federal Rules of Civil Procedure scheduled to take effect Dec. 1 are designed to usher in a new era in the U.S. litigation system, this time acknowledging that what was once known as “e-discovery” is now just discovery. The amendments are sweeping in scope, but none is more important than the revised Rule 37(e), say Gregory Leighton and Eric Choi of Neal Gerber & Eisenberg LLP.
A recent decision by the San Antonio Court of Appeals has made it harder for parties looking for a level playing field in the process of seeking a court-appointed umpire for property insurance disputes, says Brian Odom at Zelle Hofmann Voelbel & Mason LLP.
The U.S. Department of Housing and Urban Development recently proposed a rule that clarifies two types of harassment claims under the Fair Housing Act — underscoring HUD’s refusal to provide guidance on other areas of fair housing law — and pushes the borders of direct and vicarious liability in ways that could be inconsistent with governing law, says Harry Kelly at Nixon Peabody LLP.
Recognizing that defendants have no duty and little incentive to object to an inflated class counsel fee request, and that class counsel have every incentive to increase their fees, Judge Richard Posner and the Seventh Circuit have filled this void by directing “intense judicial scrutiny” of class counsel fee awards. In doing so, the court identified issues all counsel now should consider when crafting a class action settlement, sa... (continued)
A growing number of attorneys and firms are eschewing tradition by embracing technology to change not only the way we work, but also the way we organize our offices, says Anthony Johnson, founder and CEO of American Injury Attorney Group.
The Supreme Court of Ohio recently heard oral arguments in Eisenbarth v. Reusser, a case in which two chains of title each end in a separate set of cousins who dispute ownership to a previously severed mineral interest based on differing interpretations of the state’s Dormant Mineral Act. The decision has the potential to provide much-needed guidance to attorneys in the energy and real estate sectors, say Jesse Zirillo and Barbara ... (continued)
As the city of Orlando, Florida, moves forward with its new plan for a larger, privately financed stadium, fellow applicants under the state's Sports Development Statute are left waiting on legislative whim, and future applicants face an even more rigorous application process, says Douglas Gartenlaub of Burr & Forman LLP.
Over the past 35 years, Joe Kanka has experienced the corporate legal department from many angles, including management positions at a major law firm litigation support center, two legal staffing companies, and inside AT&T and Bell Atlantic. Here, he shares his 13 key business objectives that corporate legal departments must strive for in today’s business environment.
Property-assessed clean energy financing will attract greater interest as states beyond Wisconsin begin crafting their emission reduction plans to comply with the EPA's Clean Power Plan. PACE financing could be a conduit for attracting capital to energy efficiency projects that can be used for CPP compliance, while also providing a financing mechanism that will ease the burden on property owners, say Danielle Bergner and Todd Palme... (continued)