Real Estate Law360 provides breaking news and analysis on high-impact real estate deals and the attorneys involved. Coverage includes transactions involving developers, investors, lenders, contractors, and brokers, as well as related litigation, enforcement, and policy developments.
The Tenth Circuit on Tuesday upheld a lower court decision to toss a suit by Kansas over a letter from the National Indian Gaming Commission’s general counsel saying that land held in trust for the Quapaw tribe of Oklahoma was gambling-eligible, ruling that the letter shouldn’t be reviewed by the courts under federal Indian gambling law.
A unit of HSBC Holdings PLC told a New York federal judge Tuesday that billions of dollars of legal claims stemming from the failure of mortgage-backed securities it oversaw could not be resolved through class actions, saying the disputes need to be resolved on a loan-by-loan basis.
Last month, the Sixth Circuit's decision in In re Town Center established that a mortgage lender that has taken appropriate steps to perfect an assignment of rents is protected if its borrower files a bankruptcy petition. However, the comfort provided by this case is not universal, as the holding is dependent on the subject property being in Michigan, a "title theory" state, says Dov Kleiner of Kleinberg Kaplan Wolff & Cohen PC.
Greenberg Traurig LLP has added an attorney to its global real estate practice from Ropes & Gray LLP who brings 14 years of experience counseling institutional investors, funds and private equity firms on a wide range of complex real estate transactions.
A New Jersey state appeals court said Wednesday that a trial court erred in finding a public hearing notice deficient because it did not state that a proposed townhouse development in Garwood, New Jersey, would be age-restricted, saying that information was not necessary.