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.
A Manhattan trial judge ruled Friday that real estate firm Bleckner PC can sue Signature Bank for refusing to let the firm put a $14 million down payment on a building in the heart of New York’s Financial District because the bank believes the building’s seller is blacklisted by the U.S. Treasury.
An Oklahoma couple claim they lost $335,000, which they invested in the alleged Ponzi scheme run by now-bankrupt Woodbridge Group LLC just before the company collapsed, on the word of an unlicensed investment adviser working for their accounting firm.
Guidance released Friday by the U.S. Department of the Treasury on the deferral of taxable gains under the opportunity zone program leaves potential avenues for abuse by investors, who may be able to take advantage of uncertainty over the treatment of vacant lots, as one example.
A Chicago-based property management company retaliated against and fired an employee after he reported the company to both state and in-house officials for allegedly cooking its books to inflate its performance and lure more clients, according to a lawsuit filed Thursday.
Michigan told a federal court to deny a bid from The Little Traverse Bay Bands of Odawa Indians to trim claims in a suit seeking recognition of its boundaries, saying testimony from the former tribe chairman supports that a 1994 law was not intended to reaffirm the borders of the reservation prior to the 1870s.