Real Estate

  • October 19, 2017

    Credit Suisse Unit Must Face Mortgage Interest Suit

    A California federal judge refused to grant a quick win Wednesday to a Credit Suisse-owned mortgage servicing company in a lawsuit accusing it of misreporting interest paid by its customers, saying the proposed class action alleged sufficient injuries to proceed.

  • October 19, 2017

    US Bank Loses Discovery Sanctions Bid Against Royal Park

    A New York federal judge on Thursday denied U.S. Bank's bid to preclude Royal Park Investments from damages and from representing a putative class suing over allegedly toxic residential mortgage-backed securities, saying Royal Park’s discovery delays didn’t merit such measures, because its tactics hadn’t prejudiced U.S. Bank.

  • October 19, 2017

    Owners Want Airbnb Told To Stop Rentals In Their Buildings

    The owners of several residential apartment buildings asked a California federal court Wednesday to block Airbnb from allowing their tenants to rent out apartments on its website, saying they will likely prevail on claims that rowdy guests are costing them money and disturbing residents, harms that will continue without the court’s assistance.

  • October 19, 2017

    RMBS Trustees Defend $11.4B Breach Claim Against Lehman

    Residential mortgage-backed securities trustees and Lehman Brothers Holdings Inc. squared off in New York bankruptcy court Thursday on the value of claims submitted in the wake of the financial crisis, with the trustees arguing that their “straightforward breach of contract claims” are worth $11.4 billion, while the shuttered bank argued they’re worth $2.38 billion or less.

  • October 19, 2017

    $500M Las Vegas Mall Developers Owe Investors, Judge Says

    A New York state judge ruled largely against two developers of an open-air mall who were sued by investors over $250 million that the investors say they're owed, finding on Wednesday that the developers owe damages based on the investors’ formula but saying the amount would be resolved in a battle of experts.

  • October 19, 2017

    Calif. Court Slams Property Mgmt. Co.'s Appeal Gambit

    A California state appeals panel has reprimanded a property management company and its attorneys, ordering them to cover expenses an ex-worker incurred fighting an appeal the panel said the company "orchestrated" to delay trial.

  • October 19, 2017

    Insurer Keeps Blackfeet Housing Row Out Of Tribal Court

    A tribal corporation that provides risk-sharing self-insurance was granted a quick win in New Mexico federal court Thursday against a Blackfeet Nation housing entity over the jurisdiction of a coverage dispute involving damaged housing, winning a bid to bar any further litigation of the matter in the Blackfeet Tribal Courts.

  • October 19, 2017

    Zillow Says Consumers' 'Zestimates' Suit Should Be Tossed

    Real estate website Zillow on Wednesday again asked an Illinois federal court to shut down a proposed class action that alleges its “Zestimate” tool misleads customers, saying that a new amended complaint suffers from the same defects that led to a previous dismissal of the suit.

  • October 19, 2017

    Marriott Unit Sells Sheraton Centre Toronto Hotel For $269M

    A subsidiary of Marriott International Inc. has sold The Sheraton Centre Toronto Hotel for approximately CA$335 million‍ ($269 million)​, according to a Wednesday filing with the U.S. Securities and Exchange Commission.

  • October 19, 2017

    Real Estate Rumors: Katie Couric, ESG Kullen, Windhaven

    Katie Couric has reportedly sold her New York Park Avenue apartment for $8.25 million, real estate investment firm ESG Kullen is said to have dropped $17.9 million on 118 condo units in Florida, and auto insurance firm Windhaven has reportedly bought a Florida office complex for $10.35 million.

  • October 18, 2017

    Settlement In $46M BofA Foreclosure Case Nears Approval

    A California bankruptcy judge on Wednesday appeared close to approving a multimillion-dollar settlement between Bank of America Corp. and a family that won a $46 million judgment after being plunged into “a Kafkaesque nightmare” by an illegal foreclosure, even as he derided the deal as a “hostage situation” in court.

  • October 18, 2017

    US Sues Unrecognized Tribe Over Hunting, Fishing Licenses

    The federal government filed a complaint in Utah federal court Wednesday against the Uinta Valley Shoshone Tribe, a group the government doesn’t recognize as a tribe, alleging it has illegally sold hunting and fishing licenses for use on the Ute Indian Tribe’s reservation.

  • October 18, 2017

    Credit Suisse Attacks $288M Highland Land Deal Fraud Loss

    As a Credit Suisse AG unit sought to upset a nearly $288 million judgment that held the bank liable for alleged bad faith in the refinancing of a Las Vegas luxury real estate property, a Texas appellate panel on Wednesday questioned whether the bank had a duty to review a property appraisal.

  • October 18, 2017

    Neighbors Sue EPA, Corps To Be Heard In Development Row

    A neighborhood group sued the U.S. Army Corps of Engineers, the U.S Environmental Protection Agency and the Massachusetts Department of Environmental Protection in federal court Tuesday over the proposed development of property in the town of Lynnfield, claiming they haven’t given the group a fair chance to voice environmental concerns.

  • October 18, 2017

    DOI Reaches Land Buyback Deal With Oregon Tribe

    The U.S. Department of the Interior said Tuesday that it has reached a deal with the Confederated Tribes of Warm Springs in Oregon to take part in the $1.9 billion Cobell land buyback program, the first such agreement under the department’s revised buyback policy.

  • October 18, 2017

    Singaporean REIT Drops $70M On Multiple Buildings In Nation

    Singapore real estate investment trust ESR-REIT has reached a deal to buy various warehouses, factories and dormitories in Singapore from water treatment firm Hyflux Membrane Manufacturing (S) Pte. Ltd. for SG$95 million ($70 million), according to an announcement from ESR on Wednesday.

  • October 18, 2017

    Investors Take Second Pass At Cert. In $1B RMBS Suit

    Investors tweaked their class certification bid Tuesday in their suit against Bank of New York Mellon Corp. over $1.12 billion in residential mortgage-backed securities, adding a time constraint to the class definition after a New York federal judge denied their first attempt for being too vague.

  • October 18, 2017

    Real Estate Rumors: Deutsche, Maxx Properties, Jamestown

    Deutsche Asset Management is said to have picked up a California warehouse for $27.2 million, Maxx Properties has reportedly scored a $41.3 million loan for a Phoenix multifamily purchase and Jamestown is said to have picked up a Florida grocery-anchored shopping center for $34.25 million.

  • October 18, 2017

    7th Circ. Won't Rethink Cubs' Win In Rooftop Sightlines Fight

    The Seventh Circuit on Tuesday threw out a bid by Wrigley Field-area rooftop owners for a rehearing of their case accusing the Chicago Cubs of breaching a contract to prevent the obstruction of stadium sightlines, with all of the judges on the original appellate panel denying the petition for rehearing.

  • October 18, 2017

    Sullivan, Simpson Steer $100M Data Center REIT Investment

    Sullivan & Cromwell LLP represented data center REIT CyrusOne Inc. in connection with its $100 million equity investment, announced Wednesday, in Chinese data center operator GDS Holdings Ltd., which had counsel from Simpson Thacher & Bartlett LLP.

Expert Analysis

  • The Law Firm CFO’s Role In The Strategic Planning Process

    Tyler Quinn

    Today's law firm chief financial officer should be involved in many areas beyond traditional financial management, including operations, risk management and information technology. He or she can support strategic planning throughout the process, from development of the plan to its implementation, measurement and eventual evolution, say Tyler Quinn and Marc Feigelson of Kaufman Rossin PA.

  • Law Firms Must Transition To An Industry Sector Approach

    Heidi Gardner

    Clients are beginning to expect and demand that their external lawyers provide advice tailored to the client's industry. Aside from this, law firms should want to move toward a sector approach because industry-focused groups are a natural place for cross-practice collaboration to flourish, say Heidi Gardner and Anusia Gillespie of Harvard Law School.

  • Series

    Judging A Book: Kozinski Reviews 'The Judge'

    Judge Alex Kozinski

    In their new book, "The Judge: 26 Machiavellian Lessons," do Ronald Collins and David Skover prove their thesis that hypocrisy is the key to judicial greatness? Some of the examples they present are hard to dispute, says Judge Alex Kozinski of the Ninth Circuit.

  • Financial Crisis Anniversary

    New Post-Recession Metrics For BigLaw Partner Success

    Peter Zeughauser

    After nearly a decade of recession-accelerated change in the legal industry, “merit-based” compensation has largely come to mean measuring attorney success using some combination of origination and working attorney hours metrics. However, there are signs that the real impact of the recession is still around the corner, and that building a book isn’t enough, says Peter Zeughauser of Zeughauser Group.

  • Questioning Appellate Time Limits At The High Court

    Eric Miller

    Hamer v. Neighborhood Housing Services of Chicago questions whether the time limit on a district court’s authority to extend the deadline for filing a notice of appeal is jurisdictional. Based on the questions at argument before the U.S. Supreme Court last week, the court appears likely to adhere to the principle articulated in some of its recent cases, says Eric Miller of Perkins Coie LLP.

  • Opinion

    Time To Lift Student Loan Counseling Restrictions

    Christopher Chapman

    While it lends more than $100 million each year to our nation’s college students — including law students — the U.S. Department of Education surprisingly limits loan counseling to one-time entrance counseling for first-time student borrowers. Is this rational? asks Christopher Chapman, president of AccessLex Institute, a nonprofit focused on access to legal education.

  • SEC Stakes Claim As Digital Currency Regulator

    Robert Khuzami

    The U.S. Securities and Exchange Commission's recent enforcement action against Maksim Zaslavskiy and his two companies firmly establishes the commission’s assertion of authority over digital currencies. But it is important to note that the SEC’s recent foray into digital currencies is not the first assertion of regulatory authority in this arena, say attorneys with Kirkland & Ellis LLP.

  • Sometimes It Pays To Litigate Against The CFPB

    Ryan Scarborough

    Companies' reluctance to litigate Consumer Financial Protection Bureau claims has allowed the bureau to establish a value for its claims based on what it can extract from companies seeking peace rather than what it can prove in a neutral federal forum. Several recent examples demonstrate that when a company has sound defenses, litigating can dramatically improve outcomes compared to settlement, say attorneys with Williams & Connolly LLP.

  • 3 Strategies I Learned From LegalZoom

    Jeff Unger

    Critics of legal tech companies will often say, “Trust a reputable attorney that understands you, your situation and the law.” As an attorney, I wholeheartedly agree. But from the consumer’s perspective, the message seems out of touch with the digital age, says Jeff Unger, founder of the law firm eMinutes.

  • Why You Should Consider Hyperlinking Your Next Brief

    Christine Falcicchio

    The shift to electronic filing has somewhat eased the task of reviewing briefs and their supporting files. An e-brief takes e-filing to the next level, says Christine Falcicchio, a principal at Strut Legal Inc.