A proposed $150 million minor-league baseball park for the Nashville Sounds on Tuesday night won several approvals from the city's Metropolitan Council and dodged an amendment that would have tacked a fee onto the baseball team's deal for every year in which construction was delayed.
A Minnesota district court brushed aside Swift County's argument that Congress cannot give preferential tax treatment to Fannie Mae and Freddie Mac without violating the Commerce Clause, the county said, claiming the trial court ignored U.S. Supreme Court precedent and obliterated the distinction between federal and state power.
Donald Trump asked the New York State Joint Commission on Public Ethics on Monday to investigate Attorney General Eric Schneiderman, claiming he solicited campaign contributions from Trump while investigating the real estate mogul's for-profit school for allegedly misleading students.
A mortgage servicing company on Wednesday told the Texas Supreme Court that it could “wreak havoc” on the banking and residential lending industry if the justices deem unconstitutional home equity refinancing agreements that capitalize past-due interest in a putative class action.
A Texas appeals court on Tuesday tossed the bulk of real estate investment firm Miller Global Properties LLC's suit alleging Marriott International Inc. misled it into acquiring and covering $90 million in construction cost overruns on the JW Marriott San Antonio Hill Country Resort & Spa.
Fifth Third Bancorp on Wednesday agreed to pay the U.S. Securities and Exchange Commission $6.5 million to settle allegations that it hid losses on commercial real estate loans it intended to sell during the financial crisis.
PHH Mortgage Corp. will pay $6.25 million to more than 2,000 borrowers and the state of New Jersey to settle allegations that the residential mortgage servicer misled homeowners seeking assistance to keep up with their mortgage payments or avoid foreclosure, Attorney General John J. Hoffman announced Wednesday.
Philadelphia officials on Tuesday launched a new program designed to give long-time homeowners sizable discounts on their property taxes after changes in how the city appraises properties lead to significant increases for some homeowners.
The Second Circuit on Wednesday denied efforts by Consolidated Edison Co. to blame the destruction of a power substation on the contractors who designed 7 World Trade Center, saying the collapse could not be blamed on negligence alone given the unprecedented havoc of the 9/11 attacks.
General Motors Co. will shed the last of its stake in former lending unit Ally Financial Inc. in a placement worth $900 million, while Men's Wearhouse — itself on a buyout hunt — is closing in on a deal that would send its discount clothing unit to Sycamore Partners.
Residential Capital LLC announced Tuesday it had reached a deal with a group of bondholders opposed to its liquidation plan, resolving a long-running feud over interest payments with a settlement that would see junior secured noteholders recover an additional $125 million.
The sale of Gianni Versace's South Beach mansion was the end of a long road that involved buying the property's mortgage from a failed offshore bank, dealing with Ponzi schemer Scott Rothstein's investment in the mansion and competing with the likes of Donald Trump at the auction. Each step of the way, a team from Greenberg Traurig LLP guided its client closer to a winning bid.
U.S. homebuilding company Lennar Corp. said Monday a Florida jury had awarded it $1 billion in a case against California developer Nicolas Marsch III and his company, Briarwood Capital LLC, for defaming and extorting money from the company.
Real estate attorneys say the New York City real estate market has been "on fire" this year, especially in the third and fourth quarters, with deal volume and prices skyrocketing to prerecession levels that practitioners don't expect to wane anytime soon.
Manhattan retail deals have accelerated throughout 2013, adding $455 million in third quarter sales, real estate consultant Eastern Consolidated said in its December report.
Making its second major acquisition of the year, real estate investment trust Sunstone Hotel Investors on Monday closed a $262.5 million deal that adds the Hyatt Regency San Francisco hotel to its expanding portfolio, according to a regulatory filing.
The plan trustee for defunct Taylor Bean & Whitaker Mortgage Corp. asked a Florida bankruptcy judge on Monday to approve a settlement with the Government National Mortgage Association that would give Ginnie Mae a $610 million allowed claim for its disputed $5.2 billion claim.
Delancey Real Estate Asset Management Ltd. and Dutch pension fund APG Strategic Real Estate Pool have formed a joint venture to purchase London's Elephant & Castle Shopping Center from Key Property Investments for £80 million ($131.3 million) in cash, the companies said Tuesday.
The Federal Circuit on Tuesday upheld a trial court's decision that the U.S. government’s temporary flooding of an Arkansas state forest reserve constituted a compensable taking of property under the Fifth Amendment, after the U.S. Supreme Court declined last year to exempt such flooding from takings liability.
A former client accused Brown Sims PC and Hrbacek & Associates of fraud in Texas state court on Monday, saying a former attorney suffered a crying breakdown and wrongly coerced him to settle for not enough money a multimillion-dollar litigation over financing for a commercial real estate development.
The Nevada Supreme Court recently issued an opinion clarifying the application of AB 273, a groundbreaking statute designed to prevent secondary market loan purchasers from profiteering due to deficiencies in distressed loans. While the court adopted a middle approach with respect to positions taken by borrowers and lenders, the holding provides more relief than lenders are willing to concede, say Christopher Reeder and Andrew Howard of Robins Kaplan Miller & Ciresi LLP.
Picture this: A seller of goods is losing tens of millions of dollars per year on a requirements contract containing price caps that the parties have operated under for years. Given the Uniform Commercial Code and relevant case law, it would be natural — and completely logical — to accept the cogent authority establishing that rising costs are generally insufficient to invalidate a contract. I am betting that, in this case, the law will trick you, says Andrew Jarzyna of Ulmer & Berne LLP.
The principles behind the passive activity loss limitations rules under Section 469 of the Internal Revenue Code and the net investment income Medicare tax under Section 1411 are similar. Congress could have merely made the existing rules apply to the new tax, but instead they added more complication and possible holes, say Chester Grudzinski and Jacob Birnbaum of Kelly Hart & Hallman LLP.
As Mayor-Elect Bill de Blasio makes the transition from campaigning to governing New York City, it is worth contemplating some fundamental riddles. For instance, de Blasio aims to mandate that affordable housing be part of any new construction, but the city cannot require developers to build any housing at all if the deal does not make economic sense for them, says David Reiss of Brooklyn Law School.
When researching an expert, look for whether the expert’s opinion and methodology in the case is consistent with the expert’s approach outside of litigation. Inconsistency in an expert’s opinion not only is great fodder for cross-examination, but might also point to a more serious methodological problem that can form the basis for a Daubert challenge, says Matthew Whitley of Beck Redden LLP.
Preemptive rights to lease additional space, commonly sought by tenants during lease negotiations, primarily benefit the tenant and could substantially hamper the landlord’s ability to market the subject space to potential tenants. It is important that landlords understand the distinction between the two preemptive rights and the potential disadvantages associated with each, says Alexander Jackins of Seyfarth Shaw LLP.
It is a violation of the Texas Insurance Code for a public adjuster to profit from both adjusting an insurance claim and making the required repairs, but surprisingly, this has historically failed to stop Texas roofing contractors from engaging in similar conduct. A new legislation and the recent decision in Reyelts v. Lon Smith Roofing and Construction might bring about a change, says Todd Tippett of Zelle Hofmann Voelbel & Mason LLP.
First mortgage lenders acquiring title to collateral consisting of condos or homes in a homeowners community are afforded a “safe harbor” against assessment liability under two Florida statutes. But most litigators are not familiar with this protection, which has, in many cases, caused the loss of the liability limitation the safe harbor provides, says Martin Schwartz of Bilzin Sumberg Baena Price & Axelrod LLP.
In a case with broad implications for property owners near construction sites, the New York Court of Appeals has opened the door to broad first-party property damage coverage for losses emanating from nearby construction activities, says Judith Zuckerman Frantz of Wilson Elser Moskowitz Edelman & Dicker LLP.
The use of design-build project delivery has been hampered by state laws and professional ethical rules, but recent legislation in New York may drastically increase its use in the public sector. While the design-build model has many benefits, it may not be the best choice when there is a premium placed on quality of design, say Michael De Chiara and Thomas O’Neill of Zetlin & De Chiara LLP.