Real Estate

  • May 4, 2016

    Ukraine Intervenes In Arbitration Over Crimean Invasion

    The Russian Federation has failed to file a statement of defense in four of five arbitration proceedings that Hughes Hubbard & Reed LLP initiated on behalf of Ukraine’s largest bank, oil and real estate investment companies and others, and Ukraine moved to intervene in one of the proceedings launched by an airport, Law360 learned Wednesday.

  • May 4, 2016

    Broker Can't Duck Insider Trading Penalty, SEC Says

    The U.S. Securities and Exchange Commission on Wednesday slammed a real estate broker’s “half-hearted” claim of financial hardship in an effort to dodge paying insider trading penalties, citing the “extravagance” of his mansion, complete with a photograph filed in an Illinois federal court.

  • May 4, 2016

    Mostyn Firm Duels With Property Damage Biz Over Bills

    Houston plaintiffs firm Mostyn Law Firm PC on Tuesday fired off a nearly $1 million counterclaim just one day after a property damage valuation company filed suit claiming the firm stiffed it on services related to valuing claims after a major Texas hurricane.

  • May 4, 2016

    Energy Co. Says It Had Consent For Pipeline On Tribal Land

    Enable Midstream Partners LP on Tuesday blasted a bid by tribal landowners to force the energy company to remove a natural gas pipeline from land held in trust for the landowners by the federal government, saying it received consent from other tenants on the property.

  • May 4, 2016

    Stroock Hit With Malpractice Suit Over Soured Loan Deal

    Stroock & Stroock & Lavan LLP on Wednesday was hit with a malpractice suit in New York state court alleging that the firm’s faulty advice caused its condo developer clients to lose more than $71 million in owner equity, just months after a New York appellate court tossed a similar malpractice suit.

  • May 4, 2016

    10th Circ. OKs Suit Over Utah's Roads Fight With Feds

    The Tenth Circuit on Tuesday swept aside a federal court order that was blocking a wilderness advocacy group from suing the Utah attorney general in state court over Utah’s sweeping litigation campaign against the federal government for legal rights to thousands of roads.

  • May 4, 2016

    Dallas Suburb Kills Developer's $9M Win Over Land Option

    A Texas appellate court on Tuesday stripped a $9 million judgment from a developer that claimed a Dallas suburb violated a deed restriction by building a library on designated park land, holding the library falls within the deed’s requirement land be used for a “recreational facility.”

  • May 4, 2016

    HSH Nordbank Misled Developers On $200M Loan, Jury Told

    A Philadelphia jury heard opening arguments Wednesday in a case accusing HSH Nordbank AG of dangling a nearly $200 million loan in front of a proposed retirement community's now-bankrupt developers despite knowing the bank was not financially positioned to commit to new lending.

  • May 4, 2016

    Insurer Can't Recoup $8M Defense Costs, 6th Circ. Hears

    Primary insurer Great Divide Insurance Co. on Wednesday told the Sixth Circuit that a Chubb excess insurer can't seek repayment for $8 million in legal costs it shelled out for a sports management agency's real estate dispute, contending that Great Divide didn't benefit from the costs.

  • May 4, 2016

    DLA Piper Adds Ex-Willkie Farr Real Estate Pro In NY

    DLA Piper has added a partner from Willkie Farr & Gallagher LLP who will chair the firm’s New York real estate practice, bringing on a pro with experience representing real estate companies and investors on acquisitions, sales, joint ventures, sophisticated financings and development projects.

  • May 4, 2016

    Irked Judge Wants 97-Page Tribal Graves Complaint Cut Back

    A California federal judge on Tuesday told two former leaders of a half-blood Native American community that their "caustic and argumentative" 97-page complaint runs afoul of federal rules and asked them to refile a shorter complaint or risk dismissal of the suit over the alleged disinterment of Native Americans’ remains in the planned construction of a $360 million casino 

  • May 4, 2016

    Chicago Mayor Pins Lucas Museum Hopes On 7th Circ.

    Chicago Mayor Rahm Emanuel is asking the Seventh Circuit to step in and dismiss a lawsuit challenging the location of an upcoming museum dedicated to the art collection of "Star Wars" creator George Lucas, saying Wednesday that the city can't abide any further delays as Lucas threatens to take his business elsewhere.

  • May 4, 2016

    SIFMA Blasts FINRA Mortgage Market Margin Proposal

    The Securities Industry and Financial Markets Association has blasted a Financial Industry Regulatory Authority proposal to establish margin requirements for the "to-be-announced" market, which facilitates forward-trading of certain mortgage-backed securities, saying FINRA has not meaningfully addressed its cost concerns about the proposal.

  • May 4, 2016

    McDermott Sued For Negligence By Shopping Center Financier

    McDermott Will & Emery LLP was slapped with a negligence suit Wednesday in California state court by the owner of a limited liability company who claims a firm partner mismanaged a real estate development project she financed that resulted in “costly delays and cost overruns.”

  • May 4, 2016

    3rd. Circ Says Military Tax Shield Doesn't Cover Businesses

    The Third Circuit said in a case of first impression Wednesday that a federal law that limits the interest and penalties on a member of the military for overdue property taxes does not extend to a soldier’s business, as it does not qualify as a "service member” under the law.

  • May 4, 2016

    SEC, Ex-Fannie Mae CEO Experts Blocked In Subprime Suit

    A New York federal judge on Tuesday blocked several experts, including a former U.S. Securities and Exchange Commission commissioner, from testifying at trial in an SEC suit accusing the former CEO of Fannie Mae of hiding the size of the mortgage lender’s subprime portfolio.

  • May 4, 2016

    Hyatt Drops $238M On Miami Beach Hotel

    Hyatt Hotels Corp. has purchased a 380-room hotel in Miami Beach, Florida, for roughly $238 million from an affiliate of California private equity shop Geolo Capital, the hotel giant announced in its latest earnings report on Tuesday.

  • May 4, 2016

    Calif. County, Tribe Push Back Mediation Of Lease Tax Row

    A California county and a Native American tribe told a federal court Tuesday they were postponing mediation of the tribe's suit alleging the county lacks the authority to tax lessors on its tribal trust land, saying they had agreed having more time to prepare would be beneficial.

  • May 4, 2016

    Ex-RCS Brass Get Nod To Tap D&O Coverage In Ch. 11

    A Delaware judge has approved use of bankrupt RCS Capital Corp.’s insurance to cover legal costs of former executives facing pending securities lawsuits, settling a dispute over the issue ahead of the company’s scheduled Chapter 11 confirmation hearing on Thursday.

  • May 4, 2016

    Over A Dozen Firms Guided Largest Q1 Real Estate Deals

    Six of the 10 largest real estate deals in the first quarter were for New York properties, but no single law firm dominated the legal work on the top 10 transactions, with more than a dozen firms grabbing buy- or sell-side work on the quarter’s largest trades, which also included properties in California, Pennsylvania and Washington state.

Expert Analysis

  • No Recovery In Calif. For Views Blocked By Public Projects

    Bradford B. Kuhn

    The recent California appeals court case Boxer v. City of Beverly Hills involved the narrow issue of liability for view impairment due to an agency planting trees on government-owned property, but it potentially has a much broader impact and serves as a strong lesson for agencies planning public projects, say Bradford Kuhn and Rick Rayl at Nossaman LLP.

  • OPINION: Engaging The Media May Help Your Client

    Liz Mair

    While I am confident that the decisions in Windsor and Obergefell were made on the basis of the dictates of the Constitution, I am also confident that the communications efforts undertaken gave the justices additional comfort to make the right call, and ensured that these decisions were not treated as a Roe v. Wade redux, says Liz Mair, former online communications director for the Republican National Committee and president of Mair Strategies.

  • Avoiding Pitfalls When Leasing Real Estate In India

    Edward Goodman

    The recent trend of “insourcing," where U.S companies form Indian subsidiaries and hire their own employees instead of relying on third-party Indian companies, requires U.S. companies to lease large amounts of office space. But there are unique legal requirements to be aware of when leasing real estate in India, says Edward Goodman at Ingram Yuzek Gainen Carroll & Bertolotti LLP.

  • Developments At The NAIC Spring Meeting: Part 1

    Thomas M. Kelly

    This three-part series from attorneys at Debevoise & Plimpton LLP highlights some of the developments from the National Association of Insurance Commissioners' spring meeting that are of particular interest to the insurance industry. In this part, we take a look at life insurer, property/casualty insurer, captive reinsurance and cybersecurity developments.

  • Dentons: A New Kind Of Network?

    MarkACohen.jpg

    Dentons is two different law firm networks in one. So even if the Swiss verein structure should eventually fail and Dentons is forced to operate as a network of independent law firms, it could still be a significant market force, says Mark A. Cohen, a recovering civil trial lawyer and the founder of Legal Mosaic LLC.

  • Affordable Housing Constraints Don't Limit Value Of Claims

    Jackson E. Warren

    The Ninth Circuit's decision in the matter of Sunnyslope Housing Ltd. will make it more difficult for affordable housing entities to restructure under Chapter 11 where the property has a higher value without affordable housing restrictions. However, the decision gives affordable housing lenders greater ability to protect their secured claims in bankruptcy, say attorneys at Buchanan Ingersoll & Rooney PC.

  • Texas Hail Claims: Dealing With Multiple Disasters At Once

    David Winter

    North Texas recently experienced a series of significant hailstorms, bringing up issues commonly associated with insurance claims arising from multiple events over a short period of time, like how to calculate multiple deductibles and when to provide notice, says David Winter at Zelle LLP.

  • Excusable Neglect In Fla.: Who's In Charge Of Follow-Up?

    Colleen A. Maranges

    Although the Florida Supreme Court's recent decision in Santiago v. Mauna Loa Investments will certainly be cited for its reaffirmation of the “four-corners” rule, it also raises interesting (and troubling) questions about the extent to which clients may safely assume their attorneys are protecting their interests, says Colleen Maranges at Berger Singerman LLP.

  • 2nd Shoe Drops: HUD Warns Crime Screening May Violate FHA

    Harry J. Kelly

    Recent guidance from the Office of General Counsel at the U.S. Department of Housing and Urban Development promises to radically alter the daily practice of thousands of housing providers around the country who routinely rely on criminal background screening to help protect their tenants and property from threats posed by persons with past criminal records, says Harry Kelly of Nixon Peabody LLP.

  • When A Contract 'Runs With The Land' — A Look At The Laws

    Michael G. Connelly

    The determination of whether an oil producer may avoid the burdens of a gathering agreement through rejection in bankruptcy has boiled down to whether the agreement "runs with the land." The applicable state requirement of when an agreement runs with the land will not only determine bankruptcy disputes, but will also inform the negotiation of future gathering agreements, say Michael Connelly and David Fournier of Pepper Hamilton LLP.