Real Estate

  • May 25, 2017

    NJ City Accused Of Bias In Denying Mosque Plans

    An Islamic group accused Bayonne, New Jersey, officials on Thursday in federal court of religious discrimination in rejecting its plans to convert an abandoned warehouse into a mosque, saying the municipal zoning board of adjustment capitulated to the community’s anti-Muslim animus.

  • May 25, 2017

    NJ High Court Deals Blow To Religious Group's Plans For Lot

    The Supreme Court of New Jersey has passed on hearing an appeal by a Jewish Community Center in its quest to build a facility, leaving in place a lower court decision that the deed on the chosen property prohibits construction of the center.

  • May 25, 2017

    Broker Agrees To Deal Over Alleged REIT Violations

    A broker-dealer has agreed to pay $650,000 to resolve allegations that the business unlawfully sold units in non-publicly traded real estate investment trusts to unsuitable New Jersey investors and failed to make and keep adequate records for its sales, state officials announced Thursday.

  • May 25, 2017

    Delhi High Court Targets Property After Upholding ICC Award

    Investors in a canceled Indian IT economic zone have announced that the Delhi High Court issued a warrant for property owned by promoters of the nixed project, who recently lost their latest challenge to a £13.8 million ($17.9 million) International Chamber of Commerce award in favor of the investors.

  • May 25, 2017

    Rexford Industrial Makes $141M Buy, $40M Sale In SoCal

    Real estate investment trust Rexford Industrial Realty Inc. on Thursday said that it has purchased a 16-building industrial park in Ontario, California, for $141.2 million, a deal that it funded partly through the separate $40.1 million sale of a property in San Diego.

  • May 25, 2017

    Billionaire Developer Peppers Judge Ahead Of UN Bribe Trial

    Chinese real estate billionaire Ng Lap Seng's legal team has lodged a flurry of letters ahead of the developer's Tuesday bribery trial, with the latest missive Thursday saying a key cooperating witness may have made undisclosed exculpatory statements during plea talks with prosecutors.

  • May 25, 2017

    Bond Needed For Appeal Of $25M Trump U Deal, Court Told

    An objector to a $25 million settlement resolving claims over President Donald Trump’s allegedly fraudulent Trump University real estate seminars should be ordered to post a bond to cover the costs of her “meritless” appeal, several former students told a California federal court Wednesday.

  • May 25, 2017

    Chinese Developer In $789M Property Deal With Evergrande

    China-owned property developer Shenzhen Investment Ltd. on Thursday said it has sold its interest in several real estate and hotel projects in smaller Chinese cities to one of China’s largest property developers, the Evergrande Group, for approximately 5.43 billion yuan ($789 million).

  • May 25, 2017

    Costa Rica Fights Investors' Bid To Block ICSID Rulings

    Costa Rica's government urged a D.C. federal court Wednesday to reject a bid by several U.S. real estate investors to block an International Centre for Settlement of Investment Disputes tribunal from correcting an award in a dispute over property it took for a national park, saying the American federal court has no power to rule on the issue.

  • May 25, 2017

    Fla. Justices Kill Suits Over Zoning Changes To Adjacent Land

    The Florida Supreme Court ruled Thursday that a state law allowing landowners to challenge governmental actions that “inordinately burden” them does not include loss of market value caused by zoning changes to neighboring property.

  • May 25, 2017

    Kennedy Wilson Nabs Calif. Offices In $144M Deal

    Real estate investment company Kennedy Wilson said Thursday that an affiliated fund has acquired a pair of nine-story office buildings in Glendale, California, for $144 million and landed a loan to help finance the purchase.

  • May 25, 2017

    NJ High Court Denies Coverage For Sandy Debris Removal

    The New Jersey Supreme Court on Thursday knocked down an appellate panel ruling that entities behind an apartment complex flooded by Superstorm Sandy are entitled to additional insurance coverage for debris removal, saying the policy “unambiguously” limits their recovery to $1 million for flood-related losses.

  • May 25, 2017

    Fla. Gov. OKs $180M Tax Cut Led By Commercial Rent Break

    A reduction in the state commercial lease tax, breaks for assisted-living facilities and affordable housing, renewed sales tax holidays, and a sales tax exemption for essential feminine hygiene products highlighted a $180 million tax cut bill signed into law Thursday by Florida Gov. Rick Scott.

  • May 25, 2017

    Investor Calls Fraud Suit Against Cozen, Blank Rome Timely

    A British real estate investor defended the timeliness of his Pennsylvania federal court fraud suit against Cozen O'Connor, Blank Rome LLP and Cushman & Wakefield over a failed Philadelphia real estate deal, saying in a filing Wednesday that Pennsylvania’s two-year statute of limitations does not apply.

  • May 25, 2017

    2nd Circ. Unhappy With Judge's Refusal To Open Trump Docs

    A Second Circuit panel looked uncomfortable Thursday with a Manhattan trial judge's refusal to unseal 1998 settlement papers from a labor class action, documents Time magazine says could shed light on whether President Donald Trump knew he used undocumented labor to build Trump Tower in 1980.

  • May 25, 2017

    Santa Monica Beats Challenge To Anti-Airbnb Ordinance

    A California federal judge on Wednesday dismissed a proposed class action brought by a Santa Monica resident who is prevented by city law from using her home as a vacation rental via Airbnb and HomeAway, ruling that his court is the wrong venue because only a state claim remains.

  • May 24, 2017

    NJ High Court Remands Enviro Cleanup Coverage Row

    The New Jersey Supreme Court has ordered the state's Appellate Division to revisit its decision that a property owner may pursue litigation against insurers over environmental cleanup coverage under policies issued to a bankrupt former owner, saying that finding should be re-evaluated based on a Supreme Court opinion on post-loss claim assignments.

  • May 24, 2017

    State Farm Needn't Defend Building Inspector, Judge Says

    A South Carolina federal judge ruled Wednesday that State Farm doesn't have to defend a building inspector in a slew of lawsuits over the company's allegedly insufficient inspections of several construction projects, holding that a policy exclusion for failure to render professional services bars coverage.

  • May 24, 2017

    $51M Class Settlement Wins Initial OK In Hard Rock Suit

    A California federal judge signed off Wednesday on preliminary approval of a $51.15 million proposed class action settlement fund to resolve condo-hotel unit buyers’ claims over a Hard Rock Cafe International USA Inc. venture that allegedly violated land sale regulations.

  • May 24, 2017

    NY Attys Must Face Client's Suit Over Dropped Case In DC

    Two New York attorneys will have to face a suit accusing them of neglecting a client’s wrongful termination claims against Fannie Mae, a Washington, D.C., federal judge ruled Tuesday, saying the court did have jurisdiction over the case because the attorneys had agreed to represent the client in D.C.

Expert Analysis

  • My Milkshake Is Better Than Yours: Part 2

    Jill Dessalines

    In the second installment of this two-part series on disruptive innovation among mid-size law firms, Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former senior vice president at McKesson Corp., explores a number of ideas for keeping clients and maintaining market position.

  • An Illinois Court's Lesson For Senior Lenders

    Jason Hirsh

    When does a modification “substantially impair” a junior lender’s priority? While not adopting a bright-line rule to answer this question, an Illinois state appeals court in Bowling Green Sports Center v. GAG LLC offered examples of where it would find “substantial impairment,” resulting in a senior lender losing its priority status, say Jason Hirsh and Erin Mayer Isaacson of Levenfeld Pearlstein LLC.

  • Questions Following Prevezon Money Laundering Settlement

    Elizabeth Prewitt

    The Prevezon case stands out as an example of the extraordinary lengths the U.S. government can and will go to assert jurisdiction over matters involving foreign entities and persons who commit crimes abroad to the detriment of foreign countries and citizens. However, since the matter settled, the government’s case was not tested at trial, say attorneys with Hughes Hubbard & Reed LLP.

  • My Milkshake Is Better Than Yours: Part 1

    Jill Dessalines

    As I sat there listening, incredulous to learn that "Milkshake" was not only a real song but also a chart-topper, it reminded me of Harvard Business School Professor Clayton Christensen’s work on disruptive innovation — and how it pertains to mid-size law firms, says Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former assistant general counsel of McKesson Corp.

  • FHFA Should Free Captive Insurer Capital

    Jeffrey Murphy

    The Federal Housing Finance Agency's ruling that prevents captive insurance companies from becoming members of the Federal Home Loan Bank system is forcing billions of dollars of private capital out of the U.S. residential mortgage market. Hopefully, the Trump administration and members of Congress will be able to convince FHFA Director Melvin Watt to reverse this ruling, says Jeffrey Murphy of Dentons.

  • Attorneys, Your Input Is Needed On Deposition Rule

    Frank Silvestri, Jr.

    Every lawyer who’s handled a civil case in federal court knows about Rule 30(b)(6), governing deposition procedures. But for many real-world deposition dilemmas, the rule offers little guidance. Last year, an Advisory Committee on Civil Rules subcommittee began considering whether the rule should be amended. Now attorneys must advise the subcommittee how to proceed, says Frank Silvestri Jr. of Verrill Dana LLP.

  • 2 Rules For Avoiding Cannabis-Related Property Traps

    Dennis Baranowski

    Similar to the Gold Rush of 1849 where the majority of prospectors realized little to no return from their labors, the "Green Rush" of marijuana legalization is destined to yield the same result. However, following two golden rules will help you weed out the bad deals from the good and strike it rich, says Dennis Baranowski of Geraci Law Firm.

  • When The Money Is Gone: The Legal Aftermath Of Wire Fraud

    Mariana Bravo

    As wire fraud schemes become more prevalent, everyone involved in a real estate transaction is at risk. Liability will likely depend on, in part, whether the agent, broker or title company employed commercially reasonable security procedures, say Mariana Bravo and Katherine Ondeck of Carr Maloney PC.

  • How Client Feedback Programs Benefit Law Firms And Clients

    Elizabeth Duffy

    Despite an increase in engagement with client feedback programs over the last 15 years, law firms — and their clients — have a way to go before realizing the maximum benefits such programs can deliver, says Elizabeth Duffy of Acritas US Inc.

  • Rincon Will Shift Commercial Litigation Away From Calif.

    Jerrold Bregman

    Following a recent California appellate court decision in Rincon EV v. CP III Rincon, it's likely that sophisticated parties will be discouraged from participating in the California court system in favor of jurisdictions that will enforce contractual provisions such as jury trial waivers, say Jerrold Bregman and Racey Cohn of Brutzkus Gubner Rozansky Seror Weber LLP.