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Real Estate

  • August 20, 2018

    Ex-Congressional Aide Says Trump Tweets Moot Sentence

    A former information technology aide to Rep. Debbie Wasserman Schultz, D-Fla., who agreed to a plea deal over fraud charges asked a D.C. federal court Monday to be sentenced to time served, saying President Donald Trump’s Twitter outbursts have led to "deranged, politically driven" attacks.

  • August 20, 2018

    Transit Group Unlikely To Dodge Leaning Tower Of SF Suit

    A San Francisco judge said Monday he’d likely find that the Transbay Joint Powers Authority can’t escape Millennium Tower residents’ litigation over the structure's tilting and sinking, pointing to a contract in which the public transit agency took on the tower developer's liability in exchange for permission to construct a nearby terminal.

  • August 20, 2018

    SEC Secures TRO, Receiver In Alleged $135M Ponzi Scheme

    An Illinois federal judge signed off on a receivership order and a temporary restraining order against Equitybuild Inc. on Friday, barring the real estate investment firm from soliciting more investors as it faces a U.S. Securities and Exchange Commission suit alleging that the firm is nothing more than a $135 million Ponzi scheme.

  • August 20, 2018

    Jay Peak Receiver Settles Tax Dispute With Vermont Town

    A Florida federal court has approved a settlement reached between the court-appointed receiver for the failed Jay Peak EB-5 project and the town of Jay, Vermont, on interest and penalties stemming from $2 million in property taxes paid late to the town.

  • August 20, 2018

    Real Estate Rumors: 1stdibs, Redwood Capital, JPMorgan

    Online retailer 1stdibs.com is reportedly subleasing more than 41,000 square feet in New York from Flextronics, a Redwood Capital venture is said to have picked up a Chicago-area apartment complex for $70.4 million and JPMorgan has reportedly loaned $13.5 million for a Florida office complex purchase.

  • August 20, 2018

    M7 Bolsters New Fund With $89.4M Seed Portfolio Buy

    U.K.-based investor and asset manager M7 on Monday said it has launched its latest fund, which will target retail and warehouse assets, and has already made a seed portfolio acquisition of nine retail locations for £69.9 million ($89.4 million).

  • August 20, 2018

    Unregistered Brokers Sold Woodbridge Securities, SEC Claims

    The U.S. Securities and Exchange Commission accused five people and four companies Monday with allegedly selling retail investors hundreds of millions of dollars in unregistered securities of the now-bankrupt Woodbridge Group of Companies LLC, which collapsed last year after the SEC charged it with running a $1.2 billion Ponzi scheme.

  • August 20, 2018

    NJ Appeals Court Revives FedEx Driver's Slip-And-Fall Suit

    A New Jersey state appeals court on Monday revived a FedEx driver's suit against a Jersey City property owner alleging he landed in the hospital after taking a spill on the icy driveway of the car dealership that rents the property, finding the landlord liable for keeping the driveway safe.

  • August 20, 2018

    NYC Real Estate Week In Review

    A dozen law firms helped out with the largest New York City transactions for which deeds became public last week, deals that were spread across Manhattan and Queens and included a commercial condo transaction that four firms assisted with.

  • August 20, 2018

    SL Green Realty To Sell Stake In NY Building For $223M

    Real estate investment trust SL Green Realty Corp. said on Monday that it has sold its stake in a 26-story Class A office building to developer the Moinian Group for approximately $223 million.

  • August 20, 2018

    Rising Star: Shearman & Sterling's Kris Ferranti

    Shearman & Sterling LLP partner Kris Ferranti had a hand in a massive international acquisition of a shopping mall giant in the last year, one of the deals that earned him a place as one of six real estate attorneys under 40 honored by Law360 as Rising Stars.

  • August 17, 2018

    Manafort Judge Talks Threats In Not Releasing Jurors' Names

    The Virginia federal judge overseeing the Paul Manafort trial on Friday revealed he has received threats during the case and expressed concern that revealing the names of jurors deliberating the fate of the former Trump campaign chair could put their “peace and safety” at risk.

  • August 17, 2018

    Bowles Rice, Insurer Resolve $41M Fight On Eve Of Trial

    Bowles Rice has resolved a $41 million fight with a title insurer stemming from a troubled coal plant build and averted a trial that was set to start Monday, according to a lawyer involved in the case, heading off what at least one expert said was a sizable threat to the firm in the face of its limited malpractice coverage.

  • August 17, 2018

    Trump Asks For Stay Pending Appeal Of Emoluments Suit

    In a bid to prevent discovery that could involve President Donald Trump's financial records, government attorneys asked a Maryland federal judge Friday to stay Maryland and the District of Columbia's suit alleging Trump's potential profit from foreign and domestic governments at Trump International Hotel violates the Constitution's emoluments clauses.

  • August 17, 2018

    Mining Error Not A Covered Accident, Ky. Justices Rule

    A split Kentucky Supreme Court on Thursday ruled that American Mining Insurance Co. does not have to cover damages that resulted when a now-insolvent mining company wrongly extracted coal from a farmer’s property, reversing a state appeals panel and holding that the incident did not constitute an accidental occurrence for coverage purposes.

  • August 17, 2018

    HUD Claims Facebook's Housing Ads Are Discriminatory

    The U.S. Department of Housing and Urban Development has hit Facebook Inc. with an administrative complaint that accuses the social media giant of using discriminatory advertising practices to target home buyers, according to New York federal court documents filed Friday in a related lawsuit.

  • August 17, 2018

    Timeshare Co. Recklessly Disregarded FLSA, OT Suit Says

    A proposed class of employees hit a Florida timeshare company with a suit Friday in Florida federal court claiming willful violations of overtime wages under the Fair Labor Standards Act, saying the company failed to pay overtime and showed "reckless disregard" of the act's provisions.

  • August 17, 2018

    Half-Built Fla. Resort's $39M Sale Gets Court Approval

    A Florida bankruptcy judge signed off Friday on a $39.1 million sale of a stalled Fort Lauderdale resort partially built with $30 million from the EB-5 immigrant investor visa program.

  • August 17, 2018

    Feds Fire Back At Sheldon Silver's Post-Conviction Bail Bid

    Federal prosecutors on Thursday rejected as “baseless” a request by Sheldon Silver to stay free while appealing his conviction and seven-year sentence for political corruption, telling a Manhattan federal judge that the jury that convicted the former New York Assembly speaker had clear instructions.

  • August 17, 2018

    PG&E Fire Liability Has Calif. Considering Ch. 11 Alternative

    As wildfires again ravage swaths of California forests in what has become a deadly summer ritual, the threat of a Pacific Gas and Electric Co. bankruptcy looms over state lawmakers who are hastily debating how to apportion liability for billions of dollars' worth of damage stemming from last year's infernos.

Expert Analysis

  • The 'Post-Fact' Jury In The 'Fake News' Era

    Ross Laguzza

    The "fake news" phenomenon is ever more prominent in the political arena — but not in the jury box. At a trial, jurors don’t have to rely on the media or any other source to tell them the facts and issues, since they have a front-row seat to the action, says Ross Laguzza, a consultant at R&D Strategic Solutions LLC.

  • NY Lawsuit Challenging Federal SALT Cap: The Complaint

    Irwin Slomka

    New York, along with the states of New Jersey, Connecticut and Maryland, has brought suit in federal district court seeking to invalidate the $10,000 cap on state and local tax deductions enacted as part of the Federal Tax Cuts and Jobs Act of 2017. Based on the complaint and the limited judicial precedent cited, the plaintiff states face considerable hurdles, says Irwin Slomka of Morrison & Foerster LLP.

  • Why 25% Foreign-Owned Blocker Corps. Must File Form 5472

    Brad Wagner

    The IRS has recently become very aggressive in asserting penalties for failing to file a Form 5472 — used to identify potential tax issues with regard to transactions between a U.S. corporation and related foreign shareholder, says Brad Wagner of Wagner Duys & Wood LLLP.

  • Series

    Judging A Book: Lipez Reviews 'Last Great Colonial Lawyer'

    Judge Kermit Lipez

    In his new book, "The Last Great Colonial Lawyer: The Life and Legacy of Jeremiah Gridley," Charles McKirdy argues that Gridley — someone I had never heard of — was the last great colonial lawyer, and that his cases illuminate his times. The author largely substantiates both claims, says First Circuit Judge Kermit Lipez.

  • How FIRRMA Will Change National Security Reviews: Part 2

    Jeff Bialos

    The newly enacted Foreign Investment Risk Review Modernization Act significantly expands the authority of the U.S. government to review and restrict foreign investments on national security grounds. But FIRRMA also has provisions that may exempt some transactions from review, and accelerate review of others, say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.

  • Long-Awaited Bonus Depreciation Insight For Partnerships

    Junaid Chida

    Earlier this month, the IRS finally released proposed regulations under the bonus depreciation provisions of the Tax Cuts and Jobs Act. The guidance provides long-awaited clarification on the availability of 100 percent bonus depreciation to partnership basis adjustments, say attorneys at O'Melveny & Myers LLP.

  • How FIRRMA Will Change National Security Reviews: Part 1

    Jeffrey Bialos

    The Foreign Investment Risk Review Modernization Act empowers the U.S. government to review a far broader group of transactions than ever before to determine if they threaten national security. FIRRMA's expansive new coverage includes oversight of real estate investments and transfers of "emerging and foundational technologies," say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.

  • Time To Update Prop 65 Warnings For Residential Rentals

    Andrea Sumits

    The ubiquitous Proposition 65 warning signs posted throughout apartment communities in California may soon become a thing of the past. Under a new draft rule that is being finalized, safe harbor warnings for residential rental properties will be found in lease agreements rather than on posted signs, says Andrea Sumits of Environmental General Counsel LLP.

  • Unclear Which Way Wind Blows After Reversal Of Alta Wind

    Julie Marion

    The Federal Circuit recently reversed the U.S. Court of Federal Claims decision in Alta Wind v. United States, finding the trial court's method of valuing the wind farm properties did not accurately represent their fair market value. The decision was unclear, however, about how the lower court should determine the value on remand, leaving the renewable energy industry with a number of questions, say attorneys at Latham & Watkins LLP.

  • Using Ex Parte Seizures Abroad To Obtain IP Evidence

    Nicholas J. Boyle

    Practitioners should know how to use foreign search and seizure law to secure evidence of wrongdoing that can be introduced in U.S. intellectual property lawsuits. A recent copyright case, CoStar Group v. Xceligent, illustrates the benefits of invoking these ex parte provisions, say Nicholas J. Boyle and C. Bryan Wilson of Williams & Connolly LLP.