Real Estate

  • September 1, 2015

    ABC's Dan Abrams Sues Weil Partner Over Condo Dispute

    ABC News legal affairs anchor Dan Abrams filed a $2 million lawsuit against his neighbor, Weil Gotshal & Manges LLP partner Adam Hemlock in New York state court Monday over a protracted and heated condominium association dispute, which prompted Abrams to launch a state bar complaint against Hemlock last year.

  • September 1, 2015

    Rockspring Drops $69M For Scotland Office Building

    U.K.-based Rockspring Property Investment Managers LLP has bought a 120,000-square-foot, six-floor office headquarters in Aberdeen, Scotland, for £45.1 million ($69.1 million) from energy company EnQuest PLC, the firm said Tuesday.

  • September 1, 2015

    Bhopal Plaintiffs Seek To Revive Union Carbide Pollution Suit

    Attorneys anxious to pin responsibility for chemical pollution in India on Union Carbide Corp. on Tuesday asked the Second Circuit to revive their putative property damage class action and allow new expert testimony they said would show an important link between the parent company and an Indian subsidiary.

  • September 1, 2015

    Insurers Must Cover $25M Damages Against Apt. Complex

    Interstate Fire & Casualty Co. and Fireman's Fund Insurance Co. must cover a $25.5 million punitive damages award against an apartment complex's owner and manager in an underlying carbon monoxide poisoning case, a Wyoming federal judge ruled Tuesday, saying the insurers lost their chance to assert an exclusion.

  • September 1, 2015

    Real Estate Moguls On The Move

    August proved to be a busy month for promotions and new hires, with Airbnb, Starwood, HFF, CBRE and many others bringing on new talent or promoting from within.

  • September 1, 2015

    GrayRobinson Opens Fort Myers Office With Development Pros

    Florida-based GrayRobinson PA announced Tuesday it has opened a new office in Fort Myers, marking its 13th location in the state, to be run by two of the firm's veteran attorneys who respectively focus on construction law and land use and local government.

  • September 1, 2015

    $5.2B Ryland-Standard Pacific Combo Sparks Investor Suit

    Investors smacked The Ryland Group Inc.’s board of directors and Standard Pacific Corp. with a putative class action Monday in Delaware Chancery Court, alleging the companies' proposed merger into a $5.2 billion homebuilding giant merely advances the Ryland board’s interests without creating value for shareholders.

  • September 1, 2015

    EPA Sanctioned For 'Bad Faith' In CWA Suit

     A Texas federal judge slapped the U.S. Environmental Protection Agency with sanctions this week, chiding the agency for acting in “bad faith” by stalling on orders to hand over documents that likely would have defeated a Clean Water Act suit brought against a property developer.

  • September 1, 2015

    Seneca Pa. Gas Lease Survives Landowner Appeal

    The Pennsylvania Superior Court ruled in a published opinion Monday that Seneca Resources Corp. had not forfeited a gas lease on a portions of a 25,000-acre parcel that it was not actively drilling, finding there were no provisions for severability in the lease.

  • August 31, 2015

    CBRE's $1.45B Johnson Controls Deal Beats Late Challenge

    A Delaware Chancery judge on Monday rejected a bid to block the $1.45 billion merger of Johnson Controls Inc.'s facilities management unit with C.B. Richard Ellis Inc., saying Global Communications & Learning Network Corp. failed to show it would suffer irreparable harm if the deal closes Tuesday.

  • August 31, 2015

    MGM Investors Seek OK For $75M CityCenter Settlement

    The lead plaintiffs in a shareholder suit accusing MGM Resorts International of misleading investors about the financial health of its $9 billion CityCenter development in Las Vegas sought preliminary approval Friday for a $75 million settlement they called an "outstanding" result.

  • August 31, 2015

    9th Circ. Says Alleged Email Removal Wasn’t Concealment

    The Ninth Circuit on Monday said a real estate investor’s alleged removal of emails to a deleted items folder during an investigation into a foreclosure auction bid-rigging scheme didn’t necessarily amount to concealment, affirming a judge’s decision to acquit him of an obstruction of justice charge after a jury found him guilty.

  • August 31, 2015

    Ritz-Carlton Developer Thwarts Neighbor's Sale

    The owners of five units in a Miami-area condominium who plan to develop a nearby Ritz-Carlton successfully blocked on Monday condo association rule changes that would have allowed the condo's sale, and got $120 million in counterclaims for fraud, conspiracy and tortious interference tossed.

  • August 31, 2015

    Owner Of NJ Title Co. Cops To $8M Theft Of Mortgage Funds

    The owner of a defunct title company pled guilty in New Jersey on Monday to pilfering $7.7 million from real estate closings to bankroll the operating losses of his business and personal expenses ranging from travel to rent, state authorities said.

  • August 31, 2015

    Insurer Says No Evidence For Bad Faith Claim By Sandal Co.

    Golden Eagle Insurance Corp. urged a California federal judge on Friday to toss the bad faith claim alleged by Rainbow Sandals Inc. in a coverage dispute over $1 million in property damage at the company’s headquarters, arguing that evidence clearly shows a genuine dispute of the cause of the damage.

  • August 31, 2015

    Bear Stearns Tells 2nd Circ. $200M Complaint Missed Deadline

    Bear Stearns Cos. LLC and Deloitte & Touche LLP urged the Second Circuit on Monday not to reopen a $200 million securities fraud suit against them, saying that a key precedent blocks any statute-of-repose loophole claimed by plaintiff SRM Global Master Fund Ltd.

  • August 31, 2015

    Nexsen Pruet Snags 2 Real Estate Attys From Morris Manning

    Nexsen Pruet LLC has expanded its real estate practice in Raleigh, North Carolina, with a pair of former Morris Manning & Martin LLP attorneys.

  • August 31, 2015

    Judge Steps Aside In PNC FCA Case After Partiality Dispute

    A Michigan federal judge on Monday recused herself from a False Claims Act suit alleging PNC Financial Services Group Inc. didn’t disclose environmental contamination liability when applying for Troubled Asset Relief Program funds, despite the relator’s claim that the bank had wrongly engaged in “judge shopping.”

  • August 31, 2015

    Market Map: 4 Recent Trends In Miami Real Estate Deals

    The Miami market has been seeing a sunny period of double-digit growth in residential sales and a bevy of new development in several areas. New airline regulations affecting zoning, however, have dampened some of the buoyant construction activity in the downtown Miami area, and deals are getting pricier. Here, Law360 looks at these and other deal trends.

  • August 31, 2015

    Pa. Appeals Court Upends $3.3M Legal Malpractice Verdict

    A $3.3 million verdict against a pair of Pennsylvania attorneys was upended by the state’s Superior Court on Friday after a three-judge panel found that the malpractice suit, which dealt with mishandled claims against the insurer of a Philadelphia office building, was not filed within the statute of limitations.

Expert Analysis

  • SEC Case Against Agassi In-Law Highlights EB-5 Investor Risk

    Adam Sisitsky

    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.

  • 'Anti-Concurrent Cause' Won't Work In Ariz. Fire Policies

    William A. Webster

    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.

  • NY High Court, 2nd Circ. Are No Friends Of Fracking

    Yvonne E. Hennessey

    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.

  • How Grocery Retailers Are Filling The Urban Grocery Gap

    Timothy H. Watkins

    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.

  • Reading Rehnquist And Roberts Courts On Property Rights

    Paul J. Beard

    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.

  • 5 Tips For Beating A Bank Foreclosure

    Evan M. Rosen

    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.

  • Insurance Filed Rate Defense Wins Over The 2nd Circuit

    Sandra D. Hauser

    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.

  • 2 Recent Laws Will Increase Risks For Mortgage Servicers

    J. Stephen Barge

    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.

  • HUD's New Rule On Disclosure Requirements Is A Good Start

    The U.S. Department of Housing and Urban Development recently issued a long-anticipated proposed rule revising the well-intentioned but problematic 2530 disclosure requirements, which should greatly facilitate applications while allowing HUD to focus on substantively assessing the level of risk in participation in HUD programs, says Tatiana Abendschein at Nixon Peabody LLP.

  • 2 Decisions Extend Chicago’s Transfer Tax Ordinance

    Jeffrey Jahns

    Two Illinois trial court decisions this month make taxable the numerous mortgage assignments made each year where the underlying collateral is Chicago real estate. While the decisions may have limited precedential value and be subject to appeal, the tenor of the city’s litigation position cannot be ignored, say Jeffrey Jahns and Daniel Hagedorn of Seyfarth Shaw LLP.