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Real Estate

  • June 22, 2018

    5 Real Estate Investors Get Probation For Bid-Rigging

    A California federal judge on Friday doled out probation, not prison terms, to a group of real estate investors who rigged bids in Bay Area foreclosure auctions, saying the men were "minor" players in the scheme and did not deserve the prison time he had given some of the conspiracy's ringleaders.

  • June 22, 2018

    Feds Want Quick Win Against Tribal Group's License Sales

    The federal government on Friday urged a Utah federal judge to grant summary judgment in a suit seeking to block a group claiming Native American ancestry from selling hunting and fishing licenses on the Ute Indian Tribe’s reservation, saying the group must yield to the Ute tribe’s authority over such licenses.

  • June 22, 2018

    Health Care Cos. Raise $228M To Cap 10-IPO Week

    Cancer-focused biotechnology firm Autolus Therapeutics PLC and medical technology company Electrocore LLC made strong debuts in public markets on Friday after raising $228 million through initial public offerings, concluding a 10-IPO week dominated by the biotechnology sector.

  • June 22, 2018

    NY Senate Boss Was Relentless In Graft Pursuit, Jury Told

    An executive for Manhattan luxury real estate developer Glenwood Management on Friday described in New York federal court how former state Senate Majority Leader Dean Skelos was relentless in his drive to have Glenwood steer business to his son, repeatedly making requests at meetings where the developer was seeking favorable legislation for big developers.

  • June 22, 2018

    Taxation With Representation: Latham, Davis Polk, Stikeman

    In this week’s Taxation with Representation, Veritas-backed Verscend Technologies bought Cotiviti Holdings for $4.9 billion, Roche took over Foundation Medicine in a $2.4 billion deal, Baytex bought Raging River Exploration for $2.1 billion, and William Scotsman took over Modspace in a $1.1 billion deal.

  • June 22, 2018

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen a group of shippers bring a commercial fraud claim against the Bank of Scotland, the head of a Syrian laminate group sue United Insurance, and a dispute involving RBS and the failed Caterham Formula One Team. Here, Law360 looks at those and other new claims in the U.K.

  • June 22, 2018

    Real Estate Rumors: Morguard, Starwood REIT, Aetna

    Morguard Management has reportedly bought 125 Florida condos for $19 million, real estate investment trust Starwood Property is said to have loaned $213 million for a Los Angeles project that includes hotel and retail components, and Aetna has reportedly leased 85,000 square feet in Florida.

  • June 22, 2018

    Convicted Chinese Billionaire Denies 'Special Treatment'

    Chinese real estate billionaire Ng Lap Seng is not out for “special treatment,” only time to get his business affairs in order, his lawyers told a Manhattan federal judge Thursday, in asking for two extra months before he surrenders to begin a four-year sentence in federal prison for bribing international diplomats.

  • June 22, 2018

    1 Year On, Pa. Judges Grapple With Revamped Enviro Rights

    It's been one year since the Pennsylvania Supreme Court affirmed that the public's right to clean air and pure water was on equal footing with more fundamental concepts like the right to free speech, and experts say that judges are still grappling with how to apply the idea in high-stakes environmental litigation.

  • June 22, 2018

    Skadden Steers ModSpace’s $1.1B Sale To Williams Scotsman

    Modular space and portable storage firm Williams Scotsman on Friday said it will take over Pennsylvania-based rival ModSpace Corp. in a deal worth $1.1 billion, with Skadden Arps Slate Meagher & Flom LLP guiding the seller.

  • June 22, 2018

    Seychelles Co.'s English Assets Frozen In $22M Hotel Row

    An English judge has rejected a bid to issue a worldwide freeze on the assets of a Seychelles-based construction company following a dispute over a luxury resort project that resulted in an arbitral award now worth more than $22 million, opting instead to freeze the company's assets in England and Wales.

  • June 22, 2018

    Fox Rothschild Must Face Claim It Aided Ponzi Schemer

    Fox Rothschild LLP must face a New Jersey state lawsuit alleging it helped convicted Ponzi schemer Eliyahu Weinstein bilk a U.K.-based rabbi out of $2.4 million in a real estate scam after a state appeals court said Friday that the investor presented sufficient evidence to back up one of his claims.

  • June 22, 2018

    5th Circ. Musn't Stay La. Real Estate Board Case, FTC Says

    The Federal Trade Commission urged the Fifth Circuit not to pause an agency administrative trial challenging Louisiana Real Estate Appraisers Board regulations that control appraisal fees, arguing Friday that the appeals court has no jurisdiction over the board’s immunity from federal antitrust laws, absent a “final” order.

  • June 21, 2018

    'Buffalo Billion' Jury Told $500M Solar Plant Bid Was Fixed

    A once-powerful lobbyist back-channeled with former State University of New York President Alain Kaloyeros in 2013 to tailor a rigged proposal that let construction firm LPCiminelli win a $500 million Buffalo solar factory job, a cooperating witness told federal jurors hearing fraud charges against Kaloyeros and three other men Thursday.

  • June 21, 2018

    HCR ManorCare Presents New Ch. 11 Plan with Better Deal

    Assisted living company HCR ManorCare Inc. returned to Delaware bankruptcy court Thursday to receive approval for an updated Chapter 11 plan that will increase recoveries for equity holders if the acquirer of the debtor’s assets closes a merger of its own.

  • June 21, 2018

    Real Estate Rumors: Florida Power, EQ Office, Scott McNealy

    Florida Power has reportedly dropped $10 million on 400 acres of land in the state, Blackstone subsidiary EQ Office is reportedly looking to get $300 million for a New York office tower, and former Sun Microsystems CEO Scott McNealy is reportedly seeking $96.8 million for his Palo Alto, California, mansion.

  • June 21, 2018

    Ex-NY Senate Boss Squeezed Developer For Favors, Jury Told

    The senior vice president and general counsel for Manhattan luxury real estate developer Glenwood Management on Thursday told jurors that former New York State Senate Majority Leader Dean Skelos implored the company to steer work to his son Adam, while the New York real estate powerhouse was heavily lobbying the Senate for favorable real estate legislation.

  • June 21, 2018

    Feds Oppose Accused Cryptocurrency Fraudster's Travel Bid

    The federal government urged a New York federal judge Thursday to deny a request to travel to Ukraine from a Brooklyn businessman charged with securities fraud over two initial coin offerings allegedly marketed through his companies REcoin and Diamond Reserve Club.

  • June 21, 2018

    Mass. Atty Gets More Than 1 Year For Short-Selling Homes

    A Massachusetts attorney facing an almost-certain disbarment was sentenced to a year and three months in prison Thursday after admitting to being part of a scheme to defraud banks and mortgage companies by short-selling houses.

  • June 21, 2018

    Hotel Co. Loses $4M Air Force Bid Protest Over Lodging

    A U.S. Court of Federal Claims judge on Thursday axed a hotel company’s action alleging the U.S. Air Force owes it nearly $4 million after enticing it to buy and renovate a property for off-base lodging, only to ultimately deny it a contract, holding that the claims were brought too late.

Expert Analysis

  • Real Estate Investors, Quintuple Your Deductions Under TCJA

    Steve Moskowitz

    Tax reform, and specifically Internal Revenue Code Section 199A, has created new planning opportunities for real estate investors and brokers. Although the provision is quite complex, there are huge potential savings available to commercial real estate investors, says Steve Moskowitz of Moskowitz LLP.

  • Opinion

    BigLaw's Associate Salary Model Is A Relic Of A Bygone Era

    William Brewer

    Legal industry compensation practices are once again in the news as BigLaw firms continue to match the new high watermark of $190,000 for first-year associate salaries. The typical model of increasing associate salaries uniformly fails star associates, the firms they work for and, ultimately, the clients they serve, says William Brewer, managing partner of Brewer Attorneys & Counselors.

  • The PHH Decision And The Future Of CFPB

    Eric Mogilnicki

    When Consumer Financial Protection Bureau Acting Director Mick Mulvaney recently dismissed the bureau’s case against PHH Corp., it marked the end of an important chapter in the short life of the new agency and provided valuable lessons for its future, says Eric Mogilnicki of Covington & Burling LLP.

  • #MeToo At Law Firms And What We Can Do About It

    Beth Schroeder.JPG

    While some may say it’s ironic, it’s also embarrassing and enraging that the very industry that offers anti-harassment training, policies and counsel now finds itself the subject of #MeToo headlines. The American Bar Association recommendation that will bring about the greatest change is the call to provide alternative methods for reporting violations, says Beth Schroeder, chair of Raines Feldman LLP's labor and employment group.

  • Knowledge Lawyers Can Help Firms Stay Ahead Of The Curve

    Vanessa Pinto Villa

    In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.

  • An Unprecedented Look Inside The FARA Unit

    Brian Fleming

    For close observers of the Foreign Agents Registration Act, the June 8 release by the U.S. Department of Justice of over 50 FARA advisory opinions was a watershed. These opinions offer an unprecedented glimpse into how the FARA Registration Unit interprets the law, say Brian Fleming and Andrew Herman of Miller & Chevalier Chtd.

  • Options For Failing Marijuana Cos. And Their Creditors

    Brett Theisen

    In the marijuana industry, there is ambiguity surrounding failing businesses because the product remains illegal under federal law. Brett Theisen of Gibbons PC identifies the credit risks associated with lending to, or working with, a marijuana business and highlights key state law solutions for both debtors and creditors.

  • Pre-Mediation Caucuses May Improve Mediation Efficiency

    Thomas Elkind

    The more procedural tools a mediator can offer, the higher the likelihood that a mediation will be successful. Mediators should be prepared to employ pre-mediation initial caucuses in appropriate cases, says JAMS mediator and arbitrator Thomas Elkind.

  • Why Lawyers Shouldn't Accept Fees In Cryptocurrency: Part 2

    John Reed Stark

    The legal industry has already begun to feel the impact of anti-bribery and anti-money laundering requirements. When involved with cryptocurrency trading and remittance, law firms face more than the risk of being perceived as organizations that support money laundering practices, says John Reed Stark of John Reed Stark Consulting LLC.

  • Why Lawyers Shouldn't Accept Fees In Cryptocurrency: Part 1

    John Reed Stark

    Law firms are increasingly accepting cryptocurrency as payment for services. While this might seem innovative and forward-thinking, ironically it is much more of a throwback, says John Reed Stark of John Reed Stark Consulting LLC.