Real Estate

  • August 29, 2016

    Jaffe Raitt And Atty Want Out Of $24M Oil Field Asset Suit

    Jaffe Raitt Heuer & Weiss PC and senior partner Ira Jaffe pushed a federal judge Friday to dismiss a $24 million fraud suit against it stemming from agreements to purchase oil field equipment and real estate, arguing under Texas laws, both the firm and the attorney are immune from the claims.

  • August 29, 2016

    4th Circ. Denies Ex-Beazer Homes Accounting Exec. A Retrial

    The Fourth Circuit refused on Friday to grant a new trial to the former chief accounting officer at Beazer Homes USA Inc. over a scheme to hide millions of dollars worth of revenue, saying in a published opinion evidence restrictions did not change the outcome.

  • August 29, 2016

    US Bank Wants $6.7B Class Action Nixed Over Delayed Docs

    U.S. Bank NA asked a federal magistrate judge in New York on Monday to kill off a proposed $6.7 billion class action filed by Royal Park Investments NA/SV or to bar it from acting as lead plaintiff because of Royal Park’s “deliberate and intentional litigation strategy” of dragging its feet throughout discovery.

  • August 29, 2016

    5 Tips For Successful Real Estate Due Diligence

    Real estate attorneys are often under intense time constraints when it comes to the complex and crucial task of due diligence, but lawyers say keeping a few strategies in mind can go a long way in successfully navigating the process. Here, Law360 looks at five tips for success when it comes to real estate due diligence.

  • August 29, 2016

    Billionaire James Packer Sells $339M Stake in Crown Resorts

    An investment vehicle controlled by Australian billionaire James Packer is selling a $448 million Australian dollar ($339 million) stake in Crown Resorts Ltd., according to a filing with the Australian Securities Exchange on Monday.

  • August 29, 2016

    Investors Want $1B-Plus Ponzi Claims Back in Del. Court

    A proposed class of United Development Funding III investors claiming damages from a “Ponzi-like” scheme involving real estate trusts and insider deals topping $1 billion have urged a Delaware federal judge to send their suit back to state court, saying it is built on state law claims.

  • August 29, 2016

    Wall St. Scold Asks Justices To Hear Bank Whistleblower Case

    A Wall Street watchdog group on Friday urged the U.S. Supreme Court to take on a case seeking to overturn a Sixth Circuit decision that blocked a whistleblower suit alleging foreclosure fraud at U.S. Bank NA.

  • August 29, 2016

    REIT Equity Commonwealth Sells 4 Properties for $417M

    Equity Commonwealth has sold an office portfolio that spans three states and has a combined 3.1 million square feet for $416.9 million, according to an announcement on Monday from the Chicago-based real estate investment trust.

  • August 26, 2016

    Texas Housing Credit Policy Upheld After High Court Remand

    A Texas federal judge dismissed a nonprofit’s Fair Housing Act lawsuit against the state housing agency Friday, saying the complaint can’t identify a specific practice governing the allocation of tax credits for low-income housing that creates a racially disparate impact.

  • August 26, 2016

    Fla. Court Says Town's Liens Stand Despite Foreclosure Suit

    A Florida appeals court has ruled that liens on a property recorded after the notice that a foreclosure suit had been filed are not extinguished by the foreclosure process, in a win for municipalities around the state dealing with unoccupied “zombie homes.”

  • August 26, 2016

    Nicklaus-Designed Golf Club Settles Clean Water Act Claims

    Removing a couple of potential water hazards ended up costing a luxurious golf club in Jupiter, Florida, founded by golfing legend Jack Nicklaus, $400,000 to resolve claims of Clean Water Act violations related to filling in protected wetlands, under a settlement recently approved by a Florida federal judge.

  • August 26, 2016

    NY Real Estate Investment Co. Beats RICO Suit

    A New York federal judge on Friday tossed a racketeering suit brought by an investor accusing a real estate investment management firm and its principals of duping him into investing in risky loans that collapsed in the financial crisis, saying the claims were time-barred.

  • August 26, 2016

    Lexington Pushes For Win In Pitt Construction Coverage Row

    Lexington Insurance Co. on Friday asked a New York federal judge to rule that it doesn't have to cover claims tied to delays on a $40 million project on the University of Pittsburgh campus, asserting that its policyholder, the architect in charge, failed to provide timely notice of a potential claim.

  • August 26, 2016

    Deals Rumor Mill: Herbalife, Hurtigruten, China Vanke

    Carl Icahn could sell his roughly $1 billion stake in Herbalife to a group that includes rival Bill Ackman, numerous private equity firms have interest in buying Norwegian cruise operator Hurtigruten and real estate developer China Vanke hopes to buy an approximately $386 million Shanghai office tower from Carlyle.

  • August 26, 2016

    Clarion Partners Plans $58M Denver Office Building

    Real estate investment manager Clarion Partners said Thursday that it is planning to develop a 145,945-square-foot office building in downtown Denver that is expected to cost $58 million, as the company expands its presence in the market for so-called creative office space.

  • August 26, 2016

    Goulston & Storrs Nabs DC Mixed-Use Development Vet

    A mixed-use development specialist from Morris Manning & Martin LLP with three decades of experience has joined Goulston & Storrs PC to chair its Washington, D.C., transactional real estate group.

  • August 26, 2016

    Rainmaker Q&A: Sklar Kirsh's Andrew Kirsh

    Ninety-five percent of most client pitch meetings are personal discussions, sharing life stories. Rarely do they delve into hypotheticals on how you would handle a particular transaction, says Andrew Kirsh, founding partner at Sklar Kirsh LLP.

  • August 26, 2016

    Thor Equities Sells San Francisco Building In $375M Deal

    Thor Equities LLC said Thursday that it has sold a 11-story mixed-use property in San Francisco’s Union Square after an eight-year hold.

  • August 26, 2016

    Pa. Fracking Hopeful Says Court Should Weigh Well Block

    A Pennsylvania landowner asked a federal court Friday not to toss its lawsuit against the Delaware River Basin Commission challenging its refusal to approve an exploratory well while a de facto fracking moratorium is in place, arguing it doesn’t have to take up its case with the commission before heading to court.

  • August 26, 2016

    Ala. Tribe Says Tax Official's Defenses Should Be Nixed

    The Poarch Band of Creek Indians on Thursday objected to recommendations made by a federal magistrate judge in the tribe’s suit seeking to have tax assessments on the tribe’s casino property tossed, saying two defenses asserted by an Alabama county tax assessor were clearly invalid.

Expert Analysis

  • State Of Texas Legal Market: Litigation Trends

    Michael K. Hurst

    Litigation in the Texas energy sector has increased substantially as a result of the drop in oil prices. The trends reflect a market reality where all participants, including contractors, insurers, lenders, partners and employees, are forced to embrace “lower for longer” pricing, say Michael Hurst and Jonathan Childers of Lynn Pinker Cox Hurst LLP.

  • New Approach To Pleading Standards From Colo. High Court

    Lino S. Lipinsky de Orlov

    The Colorado Supreme Court's recent decision in Warne v. Hall represents a dramatic change in Colorado pleading standards. The adoption of the “plausibility standard” not only greatly enhances state courts’ authority to dismiss claims that judges perceive as groundless, but will also impact parties’ strategic decisions to file motions to dismiss, say attorneys at Dentons.

  • Defining Attorney-Client Relationships In The Electronic Age

    Elizabeth Fitch

    As technology has advanced, the ways in which attorneys communicate with clients, potential clients, former clients and the public has created new and ill-defined issues relating to whether an attorney-client relationship exists. Attorneys Elizabeth Fitch and Theodore Schaer discuss the often nebulous yet hazardous concepts that could lead to malpractice issues.

  • State Of Texas Legal Market: It Isn’t Just About Oil

    Geoff Schuler

    Some market watchers believe that law firms with significant energy-related practices have experienced precipitous declines in revenue and profits due to the dip in oil prices. Yet, firms continue to be bullish on Texas, and those still looking for a point of entry will jump at the right opportunity, say consultants with LawVision Group LLC.

  • Clarity On The Term 'Reside' Is Good News For NY Landlords

    Brendan Fitzpatrick

    Time will tell whether the New York State Legislature will entertain Judge Eugene Fahey’s suggestion in his dissent in Yaniveth R. v. LTD Realty Co. For now, the New York Court of Appeals ruling reinforces a well-established understanding of the term “resides” in Local Law 1, say Brendan Fitzpatrick and Oliver Twaddell of Goldberg Segalla.

  • 4 Reasons Law Firm Business Development Initiatives Fail

    Adam Donovan

    By understanding four common reasons why law firm business development initiatives fail, we can more accurately define success, avoid pitfalls, and improve return on investment, says Adam Donovan, senior manager of patent business strategy at Fish & Richardson PC.

  • EPA Clean Water Rule Rests On High Court Army Corps Case

    Kimberly L. Bick

    Even if the U.S. Environmental Protection Agency's clean water rule survives all court challenges and becomes the law of the land, the U.S. Supreme Court's decision in U.S. Army Corps of Engineers v. Hawkes may impact its eventual implementation, because the decision would be applied to the category of waters in the rule known as “significant nexus” waters, says Kimberly Bick at Bick Law LLP.

  • Discovery Rule Resurrects Fraud Claim On NJ Property Sale

    Katharine A. Coffey

    A New Jersey state appeals court's recent decision in Catena v. Raytheon Company reinforces the equitable nature of the discovery rule applied to common law fraud claims in connection with the sale of commercial real property, and highlights the importance of proper disclosures, particularly when the property has a history of stigma, lest the seller be faced with liability, say Katharine Coffey and Christopher John Stracco at Day Pitney LLP.

  • From BigLaw To Your Own Firm: 4 Tips For Legal Startups

    Russell Shinsky

    Highly successful attorneys who are thinking about leaving the safe haven of a large law firm to go out on their own face a number of issues specific to the legal profession. Russell Shinsky, chairman of Anchin Block & Anchin LLP's law firms industry group, shares four pillars of a successful startup law firm.

  • Energy Finance Attys Are Shifting Focus In Tough Times

    Kraig Grahmann

    In the boom years of 2011 through 2014, energy lenders were directing their attorneys to “loosen up” credit agreements. Today’s distressed environment has seen lenders and their attorneys turn 180 degrees to shift their focus to a range of new issues, say Kraig Grahmann and Buddy Clark of Haynes and Boone LLP.