Moody’s Corp. said Friday it has agreed to pay $864 million in a settlement with the U.S. Department of Justice and 21 states over the ratings agency’s work on residential mortgage backed securities and other products whose crashes led to the financial crisis.
A Panama City, Florida, title agent on Friday pled guilty to charges that she participated in a scheme to rip off banks by setting up fraudulent third-party purchases of more than $6 million worth of properties in northwest Florida.
A Florida man pled guilty Friday in federal court in Miami to two counts of wire fraud in connection with a $29 million Ponzi scheme and a scheme to illegally obtain economic development funds from the state of South Carolina.
A California state appeals court on Thursday denied a Los Angeles-based property management firm’s bid to arbitrate wage-and-hour suits brought by current and former workers, agreeing with the lower court that the company forfeited its right to arbitrate by engaging in litigation conduct.
Russia has continued to boycott an arbitration brought by real estate companies that accuse the country of seizing their properties when it annexed Crimea, even as Ukraine was given permission to have its say in the proceedings, the Permanent Court of Arbitration said Friday.
A Utah city has urged the U.S. Supreme Court to hear its petition challenging a decision in a Native American tribe’s lawsuit over its reservation boundaries, saying a Tenth Circuit ruling directly contradicted high court precedent by keeping the city in the litigation and wrongly reassigned a district court judge in a bid to speed up the protracted case.
The federal government on Friday urged the U.S. Supreme Court to deny a bid by a former Dick's Sporting Goods attorney for review of the Second Circuit’s affirmation of a $1.3 million forfeiture order arising from his conviction for sending kickbacks to another lawyer.
The U.S. Department of the Interior said on Friday that it will take a parcel of land into trust for the federally recognized Craig Tribal Association in Alaska, marking the first land-into-trust action for a tribe in the state since the agency changed a rule that had blocked such acquisitions.
The U.S. General Services Administration is looking into how President-elect Donald Trump's plan to hand over control of his sprawling real estate empire to his sons will impact the federally owned hotel he recently opened in Washington, D.C, a property whose lease prohibits any government official from profiting on it.
Blackstone’s energy-focused private equity business and Sanchez Energy Corp. said Wednesday they’ve teamed up in a 50-50 partnership to buy Anadarko Petroleum Corp.’s working interest in a South Texas oil and gas shale play for $2.3 billion in a deal guided by Kirkland & Ellis LLP.
Last year gave New Jersey environmental attorneys much to ponder as 2017 gets underway, with a crackdown on time frames for hazmat remediation projects and a shake-up to the window for filing contamination contribution claims. Here, Law360 looks at recent environmental developments in New Jersey that attorneys should know.
Though many of Fried Frank Harris Shriver & Jacobson LLP’s real estate deals involve football fields of square footage, it’s the fact the firm can juggle those while leading the redevelopment of Manhattan’s Hudson Yards that earned its real estate practice a place among Law360’s 2016 Practice Groups of the Year.
Property development company Howard Hughes Corp. told a California federal judge Thursday that Loeb & Loeb LLP can’t represent Regal Cinemas in its suit alleging HHC pulled a bait-and-switch with a pair of movie theater leases because the law firm ditched HHC specifically to take the job with Regal.
Senate Democrats on Friday asked that outside witnesses be allowed to testify at confirmation hearings for Treasury Secretary nominee Steven T. Mnuchin, including witnesses who say they were victims of allegedly shoddy foreclosure practices at a bank where Mnuchin served as chairman.
Hines Interests has reportedly pre-leased 15,000 square feet at a Houston trophy tower to Russell Reynolds, pot magazine High Times is said to be leaving New York for Los Angeles, and the Trump International Hotel & Tower Toronto is for sale and could fetch $227 million.
A private fund affiliated with Brookfield Asset Management Inc. committed to a $400 million investment in American Realty Capital Hospitality Trust Inc. on Friday, addressing the real estate investment trust’s short-term financing needs and aligning it for future growth, the REIT said.
A BP unit told the Texas Supreme Court on Thursday the company had been wrongly ousted from natural gas wells on a 2,000-acre ranch because of flawed jury findings that the wells were no longer capable of producing enough gas to maintain BP’s leases.
Wells Fargo is reportedly in talks to upsize its lease at a New York tower owned by real estate investment trusts Vornado and SL Green to 40,000 square feet, Jia Shu Xu is looking to get $60 million for a Queens development site, and JMB Realty is said to be in talks to add a food court to a Chicago mall.
As King Wood & Mallesons moves ever closer to entering administration, Bircham Dyson Bell has scooped up one of the firm’s offices in Cambridge along with its nine real estate attorneys, adding to the steady stream of KWM lawyers who have jumped ship in recent weeks.
Tarter Krinsky & Drogin LLP represented Princeton International Properties Corp. in connection with its $80 million refinance from Winston & Strawn LLP-counseled Wells Fargo Bank NA for an office property with ground-floor retail in Manhattan's Financial District, according to records made public in New York on Thursday.
Many organizations are interested in finding electronic discovery partners who offer tantalizingly low prices for electronic discovery services. However, unforeseen gaps, lax security practices, ignorance of global practices and delayed deliverables can all add up to a surprisingly large final cost, says Michael Cousino of Epiq Systems.
In this episode of Fashion Counsel, Arent Fox LLP partner Anthony Lupo and retail consultant Steve Birkhold (former CEO of Lacoste, Diesel, BEBE and Earl Jeans) discuss factory outlets — the nation’s fastest developing retail sector. Increasingly, outlets are “destination centers,” offering entertainment and amenities, not just retail stores. But they may raise special legal issues for participants.
Construction, repairs and renovations in New York City often require access to neighbors' property. Co-op and condo building boards should take the time to fully understand the different types of access that developers might request, say Laurie Stanziale and Steven Troup of Tarter Krinsky & Drogin LLP.
As critical as lawyers are to society, they are reported to be the most frequently depressed occupational group in the United States. In response to the inherently stressful nature of the practice of law, more and more lawyers are turning to an ancient contemplative practice called “mindfulness,” says Jennifer Gibbs of Zelle LLP.
Blockchain is essentially a computerized public ledger that can apply to almost anything that a person might save into a database or spreadsheet. This versatile technology may enhance the legal industry by providing an improved record keeping system, setting up "smart contracts" and tracking intellectual property and land records, say R. Douglas Vaughn and Anna Outzen of Deutsch Kerrigan LLP.
Last month, an administrative law judge struck down the Florida Department of Environmental Protection's proposed "Public Notice of Pollution," which would have required that pollution be reported to government officials and property owners in affected areas. Industry opposition to the rule suggests that future notice requirements will continue to be hotly debated, says Daniel Thompson of Berger Singerman LLP.
The U.S. Treasury Department recently issued several new final, temporary and proposed regulations under code sections 704, 707 and 752 which significantly affect the taxation of many partnership transactions. Prospective transactions, including joint ventures taxed as partnerships, should be carefully structured to navigate the hazards of these regulations, say Jeffrey Goldman, Steven Grob and Robert Nelson of Dykema Gossett PLLC.
Just before Christmas, the IRS issued Notice 2017-10, declaring some conservation easement donations to be “listed transactions,” and giving a chill to year-end giving plans. The agency's move was arbitrary and ham-fisted, made without opportunity for constructive comment, and endangers this vital conservation funding mechanism, say Ronald Levitt and David Wooldridge of Sirote & Permutt PC.
The real estate market is currently in flux with a political need for increased development but possible decreased interest from government, among other factors. The coming year will offer opportunities for those watching the tea leaves and making the right bets on politics, technology, demographics and costs, says Manuel Farach of McGlinchey Stafford PLLC.
Aerial tramways have been used in a number of U.S. cities for public transport in recent years. Now, aerial gondola lifts are being considered for moving commuters and tourists in New York City, Miami, Philadelphia, Chicago and elsewhere, and the public-private partnership model is emerging as a favored way of delivering and maintaining these green and cost-efficient systems, says Frank Rapoport of Peckar & Abramson PC.