Real Estate

  • August 22, 2017

    New Rules Offer Clarity On China's Outbound M&A Crackdown

    China's government unveiled a new set of guidelines for outbound investments last week, adjusting an earlier crackdown on cross-border transactions in a way that spells trouble for real estate, hospitality and entertainment deals but opens the door for more activity in areas like technology and manufacturing.

  • August 22, 2017

    2nd Circ. Won't Give Litvak Interim Get-Out-Of-Jail Card

    The Second Circuit said Tuesday that former Jefferies Group trader Jesse Litvak can't delay the start of a two-year sentence while appealing his conviction on one out of 10 mortgage-backed securities fraud charges.

  • August 22, 2017

    FinCEN Expands High-End Real Estate Reporting To Hawaii

    The Financial Crimes Enforcement Network on Tuesday expanded its geographic targeting orders to cover Honolulu as one of the metropolitan areas where large real estate transactions will draw scrutiny, while also adding wire transfers to the list of payment types that insurers should flag.

  • August 22, 2017

    Long Island Mortgage Co. Execs Charged With $8.9M Fraud

    New York federal prosecutors on Tuesday accused three executives of Long Island mortgage lender Vanguard Funding LLC of lying to banks in order to obtain nearly $9 million in short-term loans.

  • August 22, 2017

    SEC, Jay Peak Owner Reach A Deal In $350M EB-5 Suit

    The owner of the Jay Peak ski resort has agreed not to contest the U.S. Securities and Exchange Commission’s $350 million EB-5 visa investment fraud case, with both parties asking a Florida federal judge Tuesday to approve a permanent injunction against him while stating that the amount of damages owed is still to be determined.

  • August 22, 2017

    Real Estate Rumors: NYC Penthouse, FPA, Justworks

    A planned New York penthouse could list for as much as $75 million, an FPA Multifamily venture has reportedly paid $48 million for 165 condo units in Chicago and payroll automation software platform Justworks has reportedly subleased roughly 59,000 square feet in New York from Tommy Hilfiger.

  • August 22, 2017

    Pokanoket Nation Sets Up Camp On Disputed Brown U. Land

    A group of Pokanoket Nation members and their supporters have set up an encampment on Brown University land in Bristol, Rhode Island, with the aim of repatriating property they assert was illegally taken from the tribe hundreds of years ago.

  • August 22, 2017

    Ex-Attys Ask 11th Circ. For Door Into $350M Visa Fraud Case

    The law firms of Leon Cosgrove LLC and Mitchell Silberberg & Knupp LLP have asked the Eleventh Circuit to reverse a district court order barring them from intervening in a $350 million EB-5 visa fraud suit involving a former client, arguing they have a stake because an asset freeze in the case is likely to interfere with their attorneys' fees.

  • August 22, 2017

    Trinity And Oaktree Form $3B Hotel Joint Venture

    Trinity Investments LLC and private equity shop Oaktree Capital Management LP have formed a joint venture that will invest as much as $3 billion in hotels in California and Hawaii as well as in Mexico and Japan, the companies said in a joint announcement on Monday.

  • August 22, 2017

    Ballard Spahr Works On Moinian Group's $550M NYC Loan

    The Moinian Group has scored a $550 million loan for various properties on West 42nd St. in Manhattan from the Federal Home Loan Mortgage Corp. in a deal Ballard Spahr LLP worked on, according to records made public in New York on Monday.

  • August 22, 2017

    Florida Timeshare Co. Bluegreen Files Confidential IPO

    BBX Capital Corp. said Tuesday that its subsidiary Bluegreen Corp., a Florida-based timeshare company, has filed confidentially for an initial public offering using a provision of the Jumpstart Our Business Startups Act that allows it to explore an IPO before publicly revealing full plans.

  • August 22, 2017

    Pa. Limited Partners Can’t Rely On Pre-2017 Good-Faith

    The Pennsylvania Supreme Court ruled Tuesday in a real estate dispute that no implied presumption that parties in limited partnerships must treat each other in good faith existed until the state’s General Assembly amended the statute on such partnerships in 2016.

  • August 21, 2017

    Markel Unit, Builder Settle Condo Defect Coverage Suit

    A Markel Corp. insurer and a builder settled a dispute on Monday over whether a policy exclusion barred coverage for defects in a Florida construction project because the damage was to the contractor's own work.

  • August 21, 2017

    Why Midsize Firms Run The Gamut On Diversity

    Midsize firms on average are the least racially and ethnically diverse, but the level of diversity also varies widely among firms in this group, according to the latest Diversity Snapshot. Here’s a look at how a few of these firms are faring.

  • August 21, 2017

    Law Firms Head Back To School For Diversity Guidance

    A handful of law firms have agreed to put themselves under the lens of academia in an effort to root out structural inequalities and implicit bias. Here’s a look at what they’re finding.

  • August 21, 2017

    GCs Find New Urgency In Longtime Push For Diversity

    In-house attorneys are intensifying long-standing efforts to diversify their outside counsel, and they’re looking to create a critical mass of law department leaders that will bring about meaningful change.

  • August 21, 2017

    Travelers Must Face Bias Suit Over Housing Policies

    Travelers Indemnity Co. must face a suit alleging its housing insurance practices in the D.C. metro area are discriminatory under the Fair Housing Act’s “disparate impact” framework, a D.C. federal court said Monday in a ruling that could hamstring the insurance industry’s broader legal battle against FHA disparate impact claims.

  • August 21, 2017

    RMBS Investors Lose Fight For Wells Fargo Sampling

    Investors in residential mortgage-backed securities overseen by Wells Fargo NA on Monday lost their bid to resuscitate their preferred approach to meting out blame, when a New York federal judge dealt a new blow to the "sampling" methodology that plaintiffs have sought to use in RMBS cases.

  • August 21, 2017

    Real Estate Rumors: Thor, Legacy Partners, Lennar

    Thor Equities is said to have landed $310 million in financing for a New York retail condo, Legacy Partners has reportedly scored a $37.4 million HUD loan for a California apartment complex, and a Lennar affiliate has reportedly sold a Miami-area development site for $9 million.

  • August 21, 2017

    Norges Drops $223M For Stake In Manhattan Tower

    Norges Bank Real Estate Management has picked up a 48 percent stake in an office and retail property on Hudson Street in Manhattan for $223 million, according to an announcement from the Norwegian wealth fund on Monday.

Expert Analysis

  • Diversity In The Legal Profession — A Stubborn Vision

    Robert Grey

    At the Leadership Council on Legal Diversity, we want to see, as founding member and Microsoft chief legal officer Brad Smith once stated, “a legal profession as diverse as the nation we serve.” We are not there yet — far from it — but we are beginning to put some numbers on the board, says Robert Grey, president of the Leadership Council on Legal Diversity.

  • Opinion

    New Salary History Laws Crimp Attorney Hiring Process

    Fredric Newman

    In prohibiting employers from asking potential hires about their previous salaries, lawmakers seek to "level the playing field." But there are real problems with the practicality, legality and enforceability of many of the salary history laws, says Fredric Newman, a founding partner of Hoguet Newman Regal & Kenney LLP.

  • State And Local Tax Scoreboard: 2017 Midyear Review

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    In this midyear state and local tax review, Charles Capouet and Hanish Patel of Eversheds Sutherland LLP discuss 2017 SALT litigation to date, including corporate income tax and sales and use tax case results, the most significant cases of Q2 2017, and the Maine Supreme Judicial Court’s holding in State Tax Assessor v. MCI Communications Services Inc.

  • Challenging An Escheat Audit? Be Sure The Claim Is Ripe

    Anthony Cavender

    Many companies have questioned the constitutionality of Delaware’s escheat regime. But recently the Third Circuit largely affirmed the dismissal of a pipeline firm's complaint that a proposed escheat audit was unconstitutional. When such an audit is challenged before it takes place, precedent suggests that the claim is unripe, say Anthony Cavender and Amy Pierce of Pillsbury Winthrop Shaw Pittman LLP.

  • Protecting The Privacy Of Privileged Internal Investigations

    Donna Fisher

    Despite the fact-dependent nature of privilege, complicated by the diversity of approaches across jurisdictions, corporations can take effective measures to best protect confidential attorney-client communications and attorney work product relating to internal investigations, say attorneys with Pepper Hamilton LLP.

  • 5 Tips For A Successful Legal Blog

    David Coale

    David Coale, leader of the appellate practice at Lynn Pinker Cox & Hurst LLP, shares his insights into what works — and what does not — when setting up and maintaining a legal blog.

  • Series

    Judging A Book: Kopf Reviews Posner's 'Federal Judiciary'

    Judge Richard Kopf

    There is a wonderful sketch of Seventh Circuit Judge Richard Posner dressed in a black robe with arms outstretched as if they were the billowing wings of a lean vulture. He is kicking a human brain down a hallway and wearing a half-smile that looks for all the world like a sneer. That sketch is the perfect metaphor for both Judge Posner and his new book, "The Federal Judiciary: Strengths and Weaknesses," says U.S. District Judge Ri... (continued)

  • When Are Appellate Time Limits Jurisdictional?

    Eric Miller

    During its upcoming term, the U.S. Supreme Court will examine Federal Rule of Appellate Procedure 4(a)(5), which limits a district court's authority to extend the time for filing appeals. The court’s decision should further clarify the distinction between jurisdictional and nonjurisdictional time limits, says Eric Miller, chairman of the appellate practice at Perkins Coie LLP.

  • The Use Of Special Masters In Complex Cases

    Shira Scheindlin

    Special master appointments can be very beneficial in resolving disputes quickly, streamlining discovery, handling delicate settlement negotiations, and — somewhat surprisingly — reducing cost and delay, says retired U.S. District Judge Shira Scheindlin, now with JAMS.

  • A Plaintiff’s Guide To Discovery Proportionality: Part 2

    Max Kennerly

    Proportionality is often a question of whether discovery production has reached a point of diminishing returns, and about the marginal utility of additional discovery once the core discovery in the case has been completed. In other words, proportionality is a method to avoid going in circles or getting sidetracked, not an excuse for cutting corners, says Max Kennerly of Kennerly Loutey LLC.