Real Estate

  • May 27, 2016

    NJ Tax Lien Investor Gets Probation For Bid-Rigging

    An investor who pled guilty to rigging bids connected to municipal tax lien auctions in New Jersey was sentenced to one year of probation and a $20,000 fine in federal court Thursday.

  • May 27, 2016

    Miami Asks Justices To Sit Out Banks' Housing Bias Appeal

    Miami has urged the U.S. Supreme Court not to review an Eleventh Circuit decision allowing the city to pursue claims against Bank of America and Wells Fargo over alleged housing discrimination, arguing that the banks don’t offer a sufficiently compelling reason for the justices to get involved.

  • May 27, 2016

    Mich. Court Says Big Box Store Can’t Dodge City Tax Finding

    The Michigan Court of Appeals on Thursday handed a victory to the city of Escanaba by overturning a state tax tribunal’s decision to let hardware store chain Menards escape an $8 million property tax assessment on a large store location, after finding the tribunal erred in its analysis.

  • May 27, 2016

    Ex-NY Senate Leader Skelos Appeals Corruption Conviction

    Former New York State Senate majority leader Dean Skelos on Thursday launched an appeal of his conviction and five-year prison sentence for using his powerful position in Albany to solicit illegal payments from real estate, insurance and environmental consulting businesses.

  • May 27, 2016

    A Closer Look At The Proxy Case Everyone’s Talking About

    A judge recently sided with Maryland-incorporated real estate investment trust Ashford Hospitality Prime Inc.’s decision to refuse to approve activist hedge fund Sessa Capital LP’s board nominees, effectively ending a proxy contest that would have seen shareholders choose between the status quo and a potentially “enormous” advisory agreement termination fee. Here, Law360 breaks down the decision and what it means for future proxy contests.

  • May 27, 2016

    5 Tips For Energy Cos. Looking To Tap Into Mexico

    While landmark reforms opening up Mexico's energy sector have largely been implemented, energy companies looking to dive into the country's market must be mindful of still uncharted territory, from continually developing regulations to more complicated land use policies. Here, attorneys offer five pieces of advice for energy firms looking to make their mark in Mexico.

  • May 27, 2016

    Dickinson Wright Slams Malpractice Claims In Casino Row

    Dickinson Wright PLLC urged the Seventh Circuit on Thursday to nix four developers' bid to overturn a district court dismissal of their malpractice suit over the firm’s advice regarding federal regulatory approvals to build a Native American casino, arguing the lower court correctly ruled the developers had failed to state a claim.

  • May 27, 2016

    Goodwin Snags Compensation Pro From Skadden

    Goodwin Procter LLP has bolstered its Silicon Valley employment practice with a former Skadden Arps Slate Meagher & Flom LLP attorney with experience advising companies on compensation and tax compliance matters in life sciences, technology, private equity and real estate, the firm said.

  • May 27, 2016

    Texas Justices To Consider If Landowner Botched Exxon Suit

    Texas’ high court on Friday decided to review whether a trial judge had the discretion to throw out an oil and gas royalty suit against an ExxonMobil Corp. subsidiary and whether a landowner’s failure to add 44 neighboring property owners to the suit justified dismissal.

  • May 27, 2016

    K&L Gates Adds Corporate Partner From Foley & Lardner

    K&L Gates LLP on Thursday announced that it has bolstered its investment management, private funds and corporate and private equity practice groups with the addition of a partner from Foley & Lardner LLP, who will practice out of the firm's New York and Miami offices.

  • May 27, 2016

    ADT Faces Suit In Defective Home Security System Row

    ADT Security Services was hit with a proposed class action in California federal court Thursday by a man who claims his house was burglarized because his defective home security system failed to detect the breaking of a glass window.

  • May 27, 2016

    Jay Peak Owner Can Sell Swanky Condo To Pay Attys' Fees

    A Florida federal judge ruled Friday that the owner of the Jay Peak Resort, sued by the SEC over an alleged $350 million fraud scheme involving the EB-5 immigrant investor program, can sell his luxury New York condominium to pay for legal fees and living expenses.

  • May 27, 2016

    Texas Justices Say Water Drillers Can't Ignore Land Rights

    Texas’ high court held for the first time Friday that a doctrine requiring oil and gas lessees to accommodate surface owners’ rights also applies to groundwater disputes, favoring a ranch in litigation over whether a Texas city can drill wells to reach a severed groundwater estate.

  • May 27, 2016

    Taxation With Representation: Proskauer, Skadden, Hogan

    In this week's Taxation With Representation, investment firm Ares Capital makes a $3.43 billion purchase to increase its direct lending capabilities, Siris Capital Group buys up a Massachusetts technology company and an $8.4 billion real estate investment trust is born.

  • May 27, 2016

    4 Hot Practice Areas Where Texas Firms Are Hiring

    Transactional partners are the belles of the ball these days among Texas recruiters and headhunters. If you’re contemplating making the move to a new firm, take a look at the four practice areas that are especially sizzling in the Lone Star State right now.

  • May 27, 2016

    Hotel Co. Says Air Force Competition Process Cost It $4M

    A hotel company hit the U.S. Air Force with a nearly $4 million bid protest lawsuit in Federal Claims court Wednesday, accusing the service of improper competition procedures for off-base lodging that enticed it to buy and renovate a Las Vegas hotel, only to be denied a contract.

  • May 27, 2016

    'Tiny Homes' Meet Code, Homeless Shelter Or No, Judge Says

    A Florida Administrative Law Judge on Wednesday recommended the approval of a Tallahassee residential development consisting of two dozen “tiny homes” despite objections from neighbors that they’ll be used as a homeless shelter, because the project meets all applicable codes.

  • May 27, 2016

    3rd Circ. Sides With Insurer That Rejected Pollution Claims

    The Third Circuit on Thursday concluded that a group of policyholders was not harmed when Nationwide Insurance cut off its coverage after defending the group for years in an underlying property pollution lawsuit, finding that the insurer had properly reserved its right to do so.

  • May 26, 2016

    Insurer Asks 11th Circ. To Keep Amici Out Of Hurricane Suit

    Insurer Crum & Forster urged the Eleventh Circuit on Thursday not to accept an amicus brief from developer trade groups over a decision that Crum needn't defend builder Core Construction Services in a suit over the damage that Hurricane Wilma did to a condo complex.

  • May 26, 2016

    SEC Can't Seek Gains In Ponzi Suit, 11th Circ. Says

    The Eleventh Circuit on Thursday partially revived a suit from the U.S. Securities and Exchange Commission alleging former real estate executives ran a $300 million Ponzi scheme, ruling the agency can seek an injunction from the alleged schemers but can’t try for their allegedly ill-gotten gains.

Expert Analysis

  • Tax Lien Sale Avoidance May Depend On The State You're In

    Viscount_Michael_FoxRothschild.jpg

    Owners of foreclosed properties who are seeking to avoid tax lien sales in bankruptcy now face starkly different fates in Pennsylvania as compared to New Jersey, according to a recent Pennsylvania bankruptcy court ruling in the case of Crespo, says Michael Viscount of Fox Rothschild LLP.

  • NY AG Simplifies Registration For Out-Of-State Condos

    Douglas P. Heller

    The New York attorney general's recent policy statement on the Martin Act will permit developers of projects located in other jurisdictions to more easily offer those projects in New York and allows prospective buyers in New York to make better-informed decisions on whether or not to purchase them, says Douglas Heller at Herrick Feinstein LLP.

  • How To Prepare Your Employees For Litigation Discovery

    Charles N. McGee III

    The discovery process can be stressful and nerve-wracking for a company’s employees. Their reactions can vary tremendously and the effects are often overlooked by general counsels. Keeping your employees informed and educated prior to and during a collection or preservation hold can help to minimize disruption, maintain productivity and help discovery budgets stay in line with projections, say attorneys at Murphy & McGonigle PC.

  • Yellowstone Injunctions Aren't Always Routine

    Michael E. Feinstein

    A recent decision by a New York state appeals court, IP International Products v. 275 Canal Street Associates, provides a potent reminder that timely Yellowstone injunctions will not necessarily be granted where lease violations are both serious and clear, says Michael Feinstein at Rosenberg & Estis PC.

  • 5 Tips For Negotiating And Drafting Joint E-Discovery Plans

    Anthony J. Rospert

    Courts often require parties to develop a joint e-discovery plan. But even when they are not court-imposed, parties should consider using joint e-discovery plans to promote transparency and streamline the discovery process, say Anthony Rospert and Jake Evans of Thompson Hine LLP.

  • Why FEMA's Sandy Claims Review Process Isn't Working

    Douglas J. Pepe

    Concerns over the administration and implementation of the National Flood Insurance Program following Superstorm Sandy resulted in a novel, ad hoc procedure for the adjustment and payment of previously closed flood claims, but the review process that was promised differs greatly from the process currently in practice, says Douglas Pepe at Joseph Hage Aaronson LLC.

  • When Breaking Up Is Hard, Call A Partition Referee

    Byron Z. Moldo

    When partners dissolve a business or are forced to part with property, it’s not uncommon that one party is too stubborn to try to work things out. Byron Moldo of Ervin Cohen & Jessup LLP describes the role a court-appointed partition referee can play under California law in pushing past the stubbornness.

  • Unclaimed Property Auditors Move Beyond Life Insurers

    Wilson G. Barmeyer

    The same contingency-fee unclaimed property auditors that targeted life insurance companies are now turning their focus to other types of insurance, like health insurance and property and casualty insurance, raising a host of unique issues, say Wilson Barmeyer and Mary Jane Wilson-Bilik at Sutherland Asbill & Brennan LLP.

  • Panama Papers: Reminders About Law Firm Cybersecurity

    Sean Doherty

    Nowhere is the attractiveness of law firms as cybercrime targets more evident than the recent Mossack Fonseca hack, believed to be the most significant data theft event in history. Firms represent a treasure trove of information and historically have had dreadful cybersecurity practices. There has been some progress, but firms can also commit to better defending their information by taking a simple, three-step approach, says Sean D... (continued)

  • 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.