Commercial

  • October 03, 2022

    Chinese Real Estate Firm Seeks Recognition For $600M Reorg

    Chinese real estate broker E-House on Monday asked a New York bankruptcy judge for U.S. recognition of the nearly $600 million Cayman Islands restructuring proceeding it says it needs to avoid potential liquidation thanks to the plunging Chinese housing market.

  • October 03, 2022

    Billionaire Bros. Can't Dodge $2.5B LA Hotel Project Suit

    A New York state judge on Friday said billionaire British brothers David and Simon Reuben and an advisory firm can't avoid a lawsuit from a lender over failing to properly handle mezzanine financing default for the $2.5 billion redevelopment of the Century Plaza Hotel in Los Angeles.

  • October 03, 2022

    JLL Assists In $72M Financing For Houston Portfolio Buy

    Texas-based private equity firm Fort Capital has closed on $72 million in financing to acquire a group of 23 Class B industrial buildings in Houston in a deal brokered by JLL Capital Markets.

  • October 03, 2022

    DOI Must Reconsider Plans For Bay Area Casino, Court Says

    The U.S. Department of the Interior will need to revisit plans for a tribe-owned casino near San Francisco, after a D.C. federal judge said officials spurned the project based on an ambiguous term in the Indian Gaming Regulatory Act that wrongly disadvantaged the tribe's proposal.

  • October 03, 2022

    High Court Struggles With Unclear Clean Water Act Limits

    The U.S. Supreme Court on Monday struggled to get a grip on the proper extent of the federal government's authority under the Clean Water Act to regulate certain wetlands, in a case where landowners have claimed to be victims of agency overreach.

  • October 03, 2022

    Stevens & Lee Grows Allentown Office With Real Estate Atty

    Regional law firm Stevens & Lee PC has grown its real estate practice with the addition this week of an attorney with more than 20 years of experience to the Allentown, Pennsylvania, office.

  • October 03, 2022

    Real Estate Rumors: Savanna, Finvarb, Quantum Equities

    Savanna has reportedly leased out 350,000 square feet in Queens, developer Ronny Finvarb is said to be eyeing a residential project in Miami Beach, and Quantum Equities has reportedly scored $59.7 million in financing for a Maryland apartment complex.

  • October 03, 2022

    Akerman Guides Zara Founder's $488M NYC Tower Buy

    Akerman LLP assisted on Spanish billionaire Amancio Ortega's roughly $488 million acquisition of New York City's 19 Dutch St. residential tower, sale documents recently made public show.

  • October 03, 2022

    Real Estate Lawyers On The Move

    Bryan Cave and Holland & Knight are among the various law firms that have made recent real estate or construction hires.

  • October 03, 2022

    Co-Owner Of Bid-Rigging ​​​​​​​Insulation Firm Sentenced To 1 Year

    The co-owner of a Connecticut insulation company was sentenced to one year and a day in prison for his role in a larger bid-rigging scheme for pipe and duct insulation for private and public projects in the state.

  • October 03, 2022

    $153M Green Construction Financing 'Largest Industry's Seen'

    A hotel resort project near Utah's Zion National Park and developed by Reef Capital Partners has obtained $153 million in funding from Petros PACE Finance to support sustainable construction in a deal Petros' CEO called "the largest the industry has seen," the finance company said Monday.

  • October 03, 2022

    Feds Slam Misconduct Claims In Pot Shop Bribery Case

    Boston federal prosecutors have asked a court to reject claims of government misconduct and overreach in their case accusing a pot shop attorney of attempting to bribe a police chief.

  • October 03, 2022

    McKool Smith Hires Litigation Veteran For Dallas Office

    McKool Smith has added longtime Texas litigator Alan Loewinsohn as a principal in its Dallas office, as part of a push to boost the firm's commercial dispute practice in the Lone Star State.

  • October 03, 2022

    Pipeline Health Hits Ch. 11 After Hiccup In Hospital Sale

    Hospital operator Pipeline Health System LLC received interim approval Monday for a $110 million post-petition financing package after a Texas bankruptcy judge said a roll-up of prepetition debt was justified under the circumstances of the case.

  • October 02, 2022

    Tillerson To Take Stand In Trump Ally's Foreign Lobbying Trial

    Former U.S. Secretary of State Rex Tillerson will be called as a witness for the government in the trial of Colony Capital Inc. founder Thomas Barrack, in a case accusing the onetime Trump confidant of secretly acting as an agent of a foreign government.

  • September 30, 2022

    Judge Keeps Alive $20M Suit Over Real Estate Conspiracy

    An Illinois federal judge allowed claims to proceed of a conspiracy to defraud a man of more than $20 million by inducing him to invest in real estate and diverting the funds for personal use.

  • September 30, 2022

    NY Judge Keeps $100M Chelsea Hotel Suit Alive

    A New York federal judge paved the way on Friday for owners of the storied Chelsea Hotel to proceed with their $100 million suit alleging that New York City agencies held up needed renovations while sitting on evidence that belied their right to do so.

  • September 30, 2022

    Jack Nicklaus Breached $145M Licensing Deal, NY Judge Told

    Legendary golfer Jack Nicklaus has ignored the terms of a $145 million branding agreement by striking out on his own to design golf courses, make endorsements and negotiate with the Saudi-funded LIV Golf tour, executives for Nicklaus' licensor testified in New York state court Friday.

  • September 30, 2022

    CoreLogic Puts Ian Storm Damages Between $28B And $47B

    Hurricane Ian's devastating cost in Florida could amount to between $28 billion and $47 billion, the analytics company CoreLogic estimated, with most losses coming from wind damage to commercial and residential properties.

  • September 30, 2022

    Fannie Mae Taps Housing Nonprofit Leader As CEO

    The president and CEO of Enterprise Community Partners is joining Fannie Mae as the company's new CEO and a member of its board of directors, the lender announced this week.

  • September 30, 2022

    Cargo Shift Sparks Development At Eastern US Ports

    While the COVID-19 pandemic has generated massive headaches for the global supply chain, the events of the last few years have also produced a substantial shift in business from the West Coast into ports and supporting logistics properties in the eastern half of the United States, spurring billions of dollars in upgrades and development.

  • September 30, 2022

    JLL Signs New York Life At One World Trade Center

    New York Life Insurance Co. will relocate its Manhattan office next year to a 47,000-square-foot space subleased from Advance Magazine Publishers Inc. in the One World Trade Center building, according to a Friday announcement by JLL, which brokered the deal.

  • September 30, 2022

    Don't Miss It: Cravath, Fried Frank Guide Week's Hot Deals

    Industry-leading M&A attorneys recently opined on factors that could be stalling deals, but the past week showed there's plenty of momentum left in the market. In fact, it may have been difficult to keep up with the flurry of activity. Here, Law360 recaps the ones you may have missed, including transactions led by Cravath and Fried Frank.

  • September 30, 2022

    Real Estate Rumors: Coral Springs, Eden Housing, Bardas

    Coral Springs, Florida, reportedly could still get a new movie theater; Eden Housing is said to have paid $31.3 million for a California affordable housing complex; and Bardas Investment Group is reportedly seeking permission to transform a historic Hollywood studio site.

  • September 30, 2022

    EPA Releases Superfund Environmental Justice Guidance

    The U.S. Environmental Protection Agency on Friday published a plan to more fully integrate environmental justice considerations into its Superfund program, from compliance to rulemaking and permitting.

Expert Analysis

  • NY Ruling Sheds Light On UCC 'Commercial Reasonableness'

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    A recent New York state court decision in WC Braker Portfolio v. ATX Braker suggests that mezzanine lenders conducting foreclosure sales cannot rely solely on pledge agreement safe harbor provisions to satisfy the commercial reasonableness test under the Uniform Commercial Code and state law, say Gregg Weiner and Andrew Todres at Ropes & Gray.

  • How In-House Counsel Can Better Manage Litigation Exposure

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    In anticipation of economic downturn and increased litigation volume, the true struggle for an in-house team is allocating their very limited and valuable attentional resources, but the solution is building systems that focus attention where it can be most effective in delivering better outcomes, say Jaron Luttich and Sean Kennedy at Element Standard.

  • Practical E-Discovery Lessons From The Alex Jones Case

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    The accidental disclosure of mobile phone data during the Alex Jones defamation damages trial underlines the importance of having in place a repeatable e-discovery process that includes specific steps to prevent production of data that may be privileged, sensitive or damaging to the case, say Mike Gaudet and Richard Chung at J.S. Held.

  • Why Creditors Should Beware Of SBRA Due Diligence Defense

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    The Delaware bankruptcy court’s recent holding in the Center City Healthcare Chapter 11 case highlights courts' reluctance to interpret the Small Business Reorganization Act as requiring bankruptcy plaintiffs to undertake any additional due diligence, which means trade creditors should beware of seeking to dismiss a preference claim on those grounds, say Eric Chafetz and Lindsay Sklar at Lowenstein Sandler.

  • Public-Private Partnerships Can Enable Infrastructure Repairs

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    As governmental entities at all levels continue to face intense financial pressures to fund operations, programs and benefit plans, public-private partnerships are a nonconventional funding method that may help address aging infrastructure, say Peter Hutcheon and John Lushis at Norris McLaughlin.

  • The Ethical Risks For Lawyers Accepting Payments In Crypto

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    Ohio recently became the fifth jurisdiction to provide attorneys guidance on accepting cryptocurrency as payment or holding cryptocurrency in escrow, but lawyers should beware the ethics rules such payments may implicate, and consider three practical steps to minimize the risks, say Hilary Gerzhoy and Jared Marx at HWG.

  • Ore. Cannabis Proposals Could Dramatically Reshape Industry

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    Proposed reforms to Oregon’s cannabis laws and regulations under consideration by a legislative task force would significantly alter the state’s hemp industry and implicate the entire national market, as well as increase penal sanctions for illegal production, which may signal a broader reversion to war-on-drugs policies, says Brett Mulligan at Green Light Law Group.

  • Envisioning Metaverse-Based Litigation In The Real World

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    Attorneys should entertain the possibility of the metaverse becoming a matter of interest in real-world courts by considering what could cause actions outside the virtual world and digital forensics hurdles to be cleared in demonstrating the offense, identifying the culpable parties and collecting damages, say consultants at Keystone Strategy.

  • ABA Stance On Role Of Nonlawyers Is Too Black And White

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    The American Bar Association's recent resolution affirming its long-standing opposition to nonlawyers owning law practices or receiving shares of legal fees overstates the ethical, professional and regulatory challenges — and ignores the potential benefits — of allowing nonlawyers greater participation in the legal industry, say Peter Jarvis and Trisha Rich at Holland & Knight.

  • Harnessing The Power Of Big Data In Litigation

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    The growth in the volume, scope and utility of available data — with vendors tracking and selling data, and government releasing large data sets — requires consideration of new data analysis approaches and technological tools that can help provide objective insights in litigation matters, answer key liability and damages questions, and support critical discovery efforts, say analysts at Bates White.

  • How Law Firm Operations Can Adjust To New COVID Realities

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    Given that COVID-19 may be here to stay, law firms must once again rethink their office policies and culture to adapt to new trends and the permanent lifestyle changes that many attorneys and employees have made, say Kami Quinn and Adam Farra at Gilbert.

  • AML Takeaways From Watchdog's Real Estate Guidance

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    The Financial Action Task Force's recently updated anti-money laundering guidance for the real estate sector, coinciding with related developments from U.S. regulators and legislators, illustrates the continued expansion of risk-based compliance requirements — and the threat of criminal liability — for industry participants, including lawyers, say attorneys at Ballard Spahr.

  • Golf Project Ch. 11 Ruling Is A Deal Term Negotiation Lesson

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    A Hawaiian bankruptcy court’s recent Pacific Links golf project ruling reinforces the standard lesson of being extra careful when negotiating deal terms with a financially distressed counterparty, and highlights why asset valuation is always a crucial consideration, say Daniel Lowenthal and Maxwell Weiss at Patterson Belknap.