Commercial

  • December 21, 2022

    SEC Looks To Sink Lawsuit Over Post-Conviction 'Overreach'

    The U.S. Securities and Exchange Commission has again urged a California federal judge to toss a suit brought by a man convicted of running a Ponzi-like scheme, who now accuses the agency of "overreach" with its administrative actions, saying it lacks "serious considerations of the arguments."

  • December 21, 2022

    CompStak Moving NYC HQ To Avenue Of The Americas

    CompStak has moved its New York City headquarters from Cooper Square to 675 Avenue of the Americas, doubling the commercial real estate data company's footprint.

  • December 21, 2022

    Trez Capital Restructures Florida Office, Launches In Miami

    Private real estate lender Trez Capital is closing its Palm Beach office as it prepares to open a new office for its Southeastern market in Miami, according to a Tuesday news release.

  • December 20, 2022

    Umpqua Bank To Face Trial On Investors' $300M Ponzi Claims

    Investors who claim Oregon-headquartered Umpqua Bank aided and abetted a $300 million Ponzi scheme led by a since-deceased real estate investment manager will see their claims advance to trial after a San Francisco federal judge found that certain of its employees are accused of "direct participation" in the alleged scheme.

  • December 20, 2022

    Forestry Cos. Again Defending $164M Suit Against Zimbabwe

    Two forestry companies that say Zimbabwe illegally seized their land in a campaign to return the country to its indigenous Black population are again urging a D.C. federal court to retain their enforcement bid over a $164 million arbitral award, claiming the suit is valid under U.S. law.

  • December 20, 2022

    Blackwells Hid JV From Investors, Real Estate Trusts Say

    Two real estate investment trusts accused investment company Blackwells Capital and investment manager Related Fund Management LLC of hiding a joint venture designed to get the two REITs to adopt a new external advisory agreement that could earn millions of dollars for Blackwells and Related Fund.

  • December 20, 2022

    Houston Astros Hit With ADA Suit Over Seating, Again

    The Houston Astros have been hit with another lawsuit alleging violations of the Americans with Disabilities Act, the second such suit in the last week, this time by a fan who attended a Lady Gaga concert at the team's ballpark and claims his view of the stage was completely blocked.

  • December 20, 2022

    Fla. Medical Properties Are Tax-Exempt, Appeals Court Says

    Properties owned by two Florida not-for-profit companies, including a teaching hospital and clinics, are exempt from taxation because they were equitably owned by University of Florida, a state appeals court said Tuesday, affirming a trial court's decision.

  • December 20, 2022

    Braverman Greenspun Announces New Partner In New York

    A real estate attorney with experience in transactions involving condominiums and cooperatives has been promoted to partner at Braverman Greenspun PC, the law firm announced on Tuesday.

  • December 20, 2022

    BNP Unit Can Press €251M Claim Against Santander Landlord

    A subsidiary of international bank BNP Paribas can continue its €251 million ($267 million) loan dispute with Santander's property management company after a London court rejected the property manager's attempt to dismiss the case on technical grounds.

  • December 20, 2022

    11th Circ. Frees Wells Fargo From Premises Liability Suit

    The Eleventh Circuit sided with Wells Fargo on Tuesday, affirming a lower court ruling against a man who accused the bank of negligence after he was shot on its Central Florida property in 2018.

  • December 20, 2022

    Ind. Tax Board Rejects COVID-Based Cut To Hotel Assessment

    The Indiana Board of Tax Review determined that a hotel's assessment should remain unchanged from the previous year because a local assessor's reduction of the property's assessment due to COVID-19 disruption was unsupported by evidence.

  • December 20, 2022

    Verizon Fined $950K For Preservation Review Violations

    Verizon will have to pay $950,000 in fines to the Federal Communications Commission after admitting that it built wireless facilities in five states without completing required environmental or historical reviews ahead of construction.

  • December 20, 2022

    Va. Firm Sells Offices Set For Mixed-Use Project For $119M

    Richmond, Virginia-based commercial real estate investor Lingerfelt CommonWealth Partners announced Tuesday it has sold off a portfolio of 11 office buildings to Charlottesville, Virginia-based Seminole Trail for about $119 million, handing off a project to add more than 1,300 multifamily housing units to the new developer.

  • December 20, 2022

    Jones Day, Fox Rothschild Ink $1B Hard Rock Vegas Buy

    Jones Day and Fox Rothschild LLP led Hard Rock International Inc.'s recent $1.075 billion purchase of the Mirage Hotel and Casino in Las Vegas, which received regulatory approval from the Nevada Gaming Commission and closed Monday.

  • December 20, 2022

    DC AG Wins Eminent Domain Case Tied To Bridge Project

    The D.C. attorney general's office said Tuesday it won the biggest eminent domain case in the capital's history against real estate magnate Douglas Jemal after a jury found that property near the new Frederick Douglass Memorial Bridge was worth far less than the developer's valuation.

  • December 20, 2022

    Newmark V&A Launches Nationwide Consulting Practice

    A New York-based commercial real estate firm has launched a new litigation support and consulting practice featuring 15 professionals located across the country.

  • December 19, 2022

    RealPage Cases Pose New Antitrust Questions For Proptech

    Mounting antitrust allegations against property technology company RealPage and its rental pricing algorithm, which come amid a chaotic real estate market and increasing national attention on corporate landlords, present new questions in the developing world of proptech algorithms.

  • December 19, 2022

    EPA Scores $150M Deal For Lower Passaic River Cleanup

    Teva Pharmaceuticals, Tiffany & Co. and 83 other companies have agreed to dish out a combined $150 million to the U.S. Environmental Protection Agency to help cover cleanup costs related to the release of hazardous substances into New Jersey's Lower Passaic River.

  • December 19, 2022

    Real Estate CEO Hit With Executive's $4.1M Fraud Suit

    A real estate company's managing director accused the CEO in a derivative shareholder suit of "recklessly looting" the company after the managing director was tricked with a fraudulent bank guarantee that he says caused millions of dollars in damages for the company.

  • December 19, 2022

    Georgia Excavation Co. And Rival Resolve Trade Secrets Row

    A construction contractor has said it will drop its Atlanta federal court claim that a former employee took "trade secrets" with him when he left the company to work for a rival.

  • December 19, 2022

    Calif. Court Backs SF's Valuation Of Leaseback Property

    A San Francisco assessor was correct to not factor in a leaseback when valuing two buildings for property tax purposes because the leaseback didn't constitute a statutorily enforceable restriction, a California appeals court said, upholding a trial court's decision.

  • December 19, 2022

    NY AG Calls Trump Fla. Suit Bid To 'Evade' $250M Fraud Case

    New York's Attorney General Letitia James asked a Florida federal judge on Friday to dismiss former President Donald Trump's lawsuit claiming she's launched a crusade against him, calling the litigation an improper attempt to "evade" her $250 million fraud case against him in the Empire State.

  • December 19, 2022

    Honduran Private City Says Gov't Violated Autonomy Pledge

    The American company developing a largely autonomous city off the coast of Honduras claims a new left-wing government illegally undermined its investment by, earlier this year, repealing an unusual law that allowed certain regions to adopt their own economic and judicial regulations.

  • January 02, 2023

    What The Hotel Sector Learned In 2022

    Hospitality was one of the hardest-hit sectors in the first year of the COVID-19 pandemic, and while certain portions of the industry remain stressed, others are now flourishing. Here, Law360 looks at three things the hotel sector learned in 2022.

Expert Analysis

  • New P3 Authority Means Opportunities For Colo. Agencies

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    A recently passed Colorado law expanding public-private partnerships changes state-level project finance and infrastructure dramatically, allowing virtually all state agencies to avail themselves of P3 benefits including cost and schedule savings, sharing of risk, and access to innovation and private sector efficiency, say Gregory Johnson and Peter Gould at Squire Patton.

  • Make Room For Serendipity In Your Legal Job Search

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    Landing your dream legal job gets easier when you cultivate serendipity — which involves expanding and deepening your network, while being flexible, authentic and engaged with the world around you, says Anna Sanders at VOYLegal.

  • Assessing Risk Amid Rise Of Building Info Modeling Tech

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    As the architectural, engineering and construction industry increasingly utilizes building information modeling software, which shifts some risk to contractors, users should take steps to avoid legal risks, while enhancing projects' production and progression, says Ivan Sarkissian at McConaughy & Sarkissian.

  • Ethics Considerations For Attorneys Joining Nonprofit Boards

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    Many charitable organizations offer attorneys board positions to benefit from their specialized legal knowledge, but there are ethical considerations and liability dangers that demand lawyers set boundaries about their roles and responsibilities, says Patrick Sturm at LexisNexis.

  • 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.