Commercial

  • November 04, 2022

    Nelson Mullins Guides $50M Loan For Fla. Multifamily Project

    An affiliate of Georgia-based Davis Development secured a $50 million mortgage from Truist Bank for a tract in Bradenton, Florida, on which the developer plans to build a multifamily apartment community, guided by Nelson Mullins Riley & Scarborough LLP.

  • November 04, 2022

    Developer Brings New Plan For Abandoned Texas Build Site

    A New York developer is working to bring a mixed-use project to a site in Frisco, Texas, after another firm's $2 billion plan for the 112-acre area stalled out in 2017, leaving abandoned building shells and a hole in the ground for a never-finished parking garage.

  • November 04, 2022

    Hill Int'l Investor Drops Suit Over Proposed $173M Merger

    An investor for project management firm Hill International dropped his suit on Friday over an allegedly misleading proxy statement filed for the firm's proposed $173 million merger with construction management company Global Infrastructure Solutions Inc.

  • November 04, 2022

    Mo. Judge Rules Insurer Can Skirt Copper Theft Coverage

    A Missouri federal judge has handed Integon National Insurance Co. a win in its suit against Neighbors Credit Union, finding that the insurer does not need to cover approximately $1.4 million in the theft of copper wire from an HVAC unit at the credit union under its policy.

  • November 04, 2022

    El Paso Seeks Escape From Historic Site Row

    The Texas city of El Paso urged the state's Supreme Court to review a lower court ruling that revived a suit that seeks to protect a possible Apache historical site by challenging a survey permit for a proposed arena project, arguing that the lower court erred by nixing the city's sovereign immunity against the suit.

  • November 04, 2022

    Investment Co. Director Banned Over Hotel Scheme

    The director of an investment company now in liquidation has been banned from running companies for eight years after misleading investors about a luxury hotel in Wales.

  • November 04, 2022

    Ex-Trump Ally, Deputy Acquitted In Illegal Lobbying Trial

    A Brooklyn federal jury on Friday delivered a knockout blow to prosecutors' case against onetime Donald Trump adviser Thomas Barrack and his former protégé, which alleged the pair secretly acted as agents of a foreign government, acquitting both men of all charges.

  • November 04, 2022

    CMS Sued Over £1.9M Gap In Loan Agreement

    A real estate partnership has sued law firm CMS Cameron McKenna Nabarro Olswang LLP for failing to ensure that an escrow agreement tied to the redevelopment of a shopping center detailed who exactly would receive the £1.9 million ($2.15 million) back if none of the conditions were met.

  • November 03, 2022

    EPA Hit With Suit Over Boston Rivers Pollution

    Two environmental groups claim the Environmental Protection Agency is violating the Clean Water Act by failing to take necessary action to protect three Boston rivers from polluted runoff.

  • November 03, 2022

    NY Says Penn Station Records Are Off-Limits

    Empire State Development Corp. argues it does not have to disclose certain financial documents tied to the multibillion-dollar renovation of Pennsylvania Station in a New York state court suit accusing the agency of failing to disclose contacts with developer Vornado Realty Trust, the largest property owner affected by the project.

  • November 03, 2022

    Challenge Of NY Firearms Law Is On Target, Gun Owners Say

    Gun rights supporters asked a New York federal judge Thursday to find that they have legal standing to sue Gov. Kathy Hochul over the Empire State's recently enacted concealed firearms law, saying one does not need to be prosecuted or criminally charged to have standing.

  • November 03, 2022

    Iowa Board Slashes $10.8M Hotel Property Assessment By $2M

    A commercial property in Iowa containing a five-story Hilton Garden Inn hotel was overvalued at nearly $10.8 million, the state Property Assessment Appeal Board ruled, modifying a county board's assessment and lowering the value by more than $2 million.

  • November 03, 2022

    Stockholder Hits Family Real Estate Co. With Suit In NY

    A stockholder in family-owned New York real estate company K&S Corp. is suing the company's CEO in New York Supreme Court for breaching his fiduciary duties, saying that for over two years the leader has refused to honor the wishes of shareholders by not paying for a third-party audit.

  • November 03, 2022

    'Duplicative' Ohio Car Dealer Family Spat Gets Tossed

    A federal judge has dismissed a lawsuit a woman filed in a long-running dispute over a Cincinnati-based car dealer empire, saying she already tried and failed to litigate the same claims and abused the judicial system with the duplicative lawsuit.

  • November 03, 2022

    Court Orders Trump Org. Monitor During NY AG's Fraud Case

    A New York judge ordered the Trump Organization to install an independent monitor Thursday, ruling in favor of the state attorney general amid her $250 million fraud lawsuit against former President Donald Trump, his companies and its officers.

  • November 03, 2022

    Real Estate Rumors: A24, Morgan & Morgan, Meta

    Film studio A24 is reportedly in talks to buy a New York theater, Morgan & Morgan is said to be leasing 9,397 square feet in Brooklyn, and Meta is reportedly now hoping to sublease out 589,000 square feet in Austin, Texas, it had earlier planned to occupy.

  • November 03, 2022

    Kasowitz Prevails In $185M Bankruptcy Suit

    Kasowitz Benson Torres LLP secured a victory in a bankruptcy suit in Delaware against an HNA Group subsidiary when a judge denied HNA's proposed plan of reorganization for a Chicago asset in an alleged attempt to avoid paying a $185 million judgment.

  • November 03, 2022

    Digital Real Estate Co. Wants Out Of Sexual Harassment Suits

    Metaverse startup Everyrealm Inc. told a New York federal court that sexual harassment claims in separate suits from an ex-human resources director and a former NFL tight end amount to nothing more than petty slights and are part of efforts to pressure the company to take settlements.

  • November 03, 2022

    Dallas Nursing Home Joins With Creditors On New Ch. 11 Plan

    The operators of a Dallas nursing home and its unsecured creditors Wednesday filed a joint Chapter 11 plan to refinance $109 million in bond debt, replacing a plan creditors called dangerously dependent on success in a suit against the nursing home's landlord.

  • November 03, 2022

    Cannabis Co. MedMen Wants Out of Calif. Back Rent Suit

    Pot retailer MedMen Enterprises wants out of a California lawsuit alleging that it owes $877,000, including rent and a termination fee for a Pasadena building, saying an affiliate sought rent deferral at least in part because of the COVID-19 pandemic.

  • November 03, 2022

    3 Firms Guide $140M Manhattan Fifth Avenue Loan

    Signature Bank and Metropolitan Commercial Bank have loaned $140 million for an iconic New York Fifth Avenue building in a deal guided by Sheppard Mullin, Goldberg & Pines and Golenbock Eiseman, Sheppard Mullin told Law360 on Thursday.

  • November 03, 2022

    Veris Residential Rejects Nearly $1.5B Kushner Takeover Bid

    New Jersey-based Veris Residential Inc. on Thursday said it is rejecting Kushner Cos.' unsolicited proposal to acquire it for $16 per share, or around $1.46 billion, saying it believes the bid undervalues the company and is unfair to its shareholders.

  • November 03, 2022

    NYC Buildings Department Head Resigns

    New York City Department of Buildings Commissioner Eric Ulrich resigned Thursday morning, Mayor Eric Adams' office announced, two days after the New York Times reported that Ulrich had been questioned as part of an illegal gambling probe.

  • November 03, 2022

    SEIU's No. 2 Says Electing Worker Champions Is Critical

    SEIU, the second-largest union in the U.S., has had members don T-shirts bearing its signature purple color to knock on doors to boost candidates it sees as champions for workers in this year's midterm elections. To get a better understanding of what’s at stake, Law360 spoke with its No. 2 official, Secretary-Treasurer April Verrett.

  • November 02, 2022

    Trump Wants To Block NY AG From Seeing Revocable Trust

    Former President Donald Trump sued New York Attorney General Letitia James in Florida on Wednesday, asking for an injunction barring her from exercising any authority over the revocable trust that was named as a defendant in James' $250 million fraud suit against the former president.

Expert Analysis

  • What The Subchapter V Debt Limit Raise Means For Small Biz

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    A recently signed bill raising the debt limit back to $7.5 million for those electing treatment under the Small Business Reorganization Act provides a sigh of relief for small companies, but debtors should consider whether filing a Subchapter V case by the end of this year is advantageous, say attorneys at Michael Best.

  • What Maine's Recent PFAS Crackdown Means For Companies

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    Maine has been a nationwide trendsetter in regulation of per- and polyfluoroalkyl substances, and given the state's recent sweeping legislative actions against PFAS, companies operating in Maine must consider their compliance strategies carefully, say Patrick Gwinn at Integral Consulting, and Lisa Gilbreath and Sara Murphy at Pierce Atwood.

  • NY Contractor Relief Bill Is Much-Needed, But Imperfect

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    Once signed by the governor, New York's S.B. 10109 will correctly provide relief to construction contractors negatively affected by drastic material price escalations, though it is held back by an arbitrary time restriction, say attorneys at Cohen Seglias.

  • NYC Office Tower Ch. 11 Shines Light On Blocking Provisions

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    PMW Management's Chapter 11 filing, which recently received extra time to submit a restructuring plan, highlights courts' increasing skepticism of bankruptcy blocking provisions and favoritism toward leaving bankruptcy restructuring plans in the hands of the debtor, say Jeff Marwil and Ashley Weringa at Proskauer.

  • Storm Clouds Loom Ahead For Real Estate Investors

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    With a wave of negative economic indicators mounting on the horizon, real estate investors facing financial distress should proactively take steps to mitigate the risk of bankruptcy, says William Lobel at Distressed Capital Resources.

  • Advising A Cannabis Business Amid Patchwork Of Regs

    Excerpt from Practical Guidance
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    As the cannabis industry continues to grow, so does its widely varied patchwork of local, state and federal regulation, and practitioners should familiarize themselves with the specific rules on tax, real estate, intellectual property and banking applicable in the jurisdictions where their clients operate, say Patrick Hines and Fallon Martin at Hodgson Russ.

  • How To Avoid Construction Lien Traps In Bankruptcy Filings

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    The Ninth Circuit Bankruptcy Appellate Panel’s decision in 450 S. Western Ave. serves as a cautionary tale on the risks of a contractor agreeing not to foreclose a lien in exchange for the owner agreeing not to challenge the validity of the lien in bankruptcy filings, and highlights how contractors can protect their liens, says Blake Robinson at Davis Wright.

  • Now's The Time To Address Archaic Law School Curricula

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    With law school enrollments jumping significantly ahead of a potential recession and more students graduating than the market can absorb, law schools should turn to creative solutions to teach students how to negotiate, work with clients, specialize and use technology to practice their craft more efficiently, says University of Colorado adjunct professor Jason Mendelson.

  • Sears Bankruptcy Case Shows Modification Disclosure Is Key

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    The recent New York federal court decision in Transform Holdco v. Sears Holdings highlights the importance of seeking approval of any material modifications to a purchase agreement in a bankruptcy, as historical setting can be a factor if any dispute arises later between a debtor and a buyer, say Frank Grese and Reginald Sainvil at Baker McKenzie.

  • Lessons From Lawyer Fee-Sharing Agreements Gone Wrong

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    The recent fee-sharing dispute between Edelson and Girardi Keese is a reminder that lawyers who do not strictly follow the applicable rules may risk a disciplinary complaint, lose their share of the fee, or wind up in costly litigation with co-counsel, says David Grossbaum at Hinshaw.

  • LeClairRyan Bankruptcy Highlights Pass-Through Tax Issue

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    A Virginia bankruptcy court's recent ruling in the case of defunct law firm LeClairRyan shows there may be serious tax consequences for pass-through entity partners who give up their ownership interest without following operating agreement exit provisions and updating bankruptcy court filings, say Edward Schnitzer and Hannah Travaglini at Montgomery McCracken.

  • 9th Circ. Ruling Offers Guidance On Automatic Stay Violations

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    The Ninth Circuit Bankruptcy Appellate Panel’s opinion in Censo v. Newrez clarifies the nebulous standard for automatic stay violations, and provides useful guidance for practitioners to consider in determining whether a creditor's defensive action taken in pending litigation counts as a violation, say Keith Owens and Zach Williams at Fox Rothschild.

  • 8 Steps To Creating A Legal Ops Technology Road Map

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    Legal departments struggling to find and implement the right technologies for their operations should consider creating a road map that summarizes their approach to technology changes, provides clearly defined metrics for success, and serves as the single source of truth for stakeholders, says Melanie Shafer at SimpleLegal.