Real Estate

  • July 25, 2017

    Former Fugitive Atty Pleads Not Guilty To Real Estate Scam

    A disbarred former Hunton & Williams LLP attorney who was on the run from authorities for 20 years pled not guilty Tuesday to wire fraud and identity theft in Boston federal court.

  • July 25, 2017

    NJ Enacts Property Taxpayer Bill Of Rights

    The state of New Jersey has adopted a so-called property taxpayer bill of rights entitling property owners to clarity surrounding the real estate assessment process and how to bring an appeal, an attempt to empower New Jersey residents saddled with the nation’s highest property taxes.

  • July 25, 2017

    Mortgage Brokerage Takes IRS To Tax Court Over Adjustments

    An Oregon-based mortgage brokerage hit the IRS with a Tax Court petition last week, accusing the agency of improper adjustments totaling in the hundreds of thousands of dollars and alleging the IRS failed to accommodate its disabled managing member.

  • July 25, 2017

    Judge Guts $56.5M Detroit Pistons Arena Funding Fight

    A Michigan federal judge on Monday trimmed the bulk of a suit brought by residents looking to block $56.5 million in tax dollars from funding the NBA's Detroit Pistons' relocation to a new arena, finding that a majority of the residents' state law and federal constitutional law claims fall short.

  • July 25, 2017

    HSBC Wins Unredacted Docs In MBS Dispute

    A federal magistrate judge on Monday ordered an investment fund suing HSBC Holdings PLC over failed mortgage-backed securities to turn over more than 1,000 documents without redacting personal information contained in those messages, despite the fund’s concerns over potential privacy violations.

  • July 25, 2017

    Real Estate Rumors: Walter DeFortuna, TIAA, Wells Fargo

    A firm led by Fortune International Realty Chairman Walter DeFortuna has reportedly dropped $18 million on two Florida apartment buildings, TIAA's TH Real Estate is said to be buying a Manhattan office and retail condo for $67 million and Wells Fargo Commercial Mortgage Securities has reportedly loaned $500 million to Vornado for a New York office tower.

  • July 25, 2017

    Airbnb User Seeks High Court Review In Race Bias Suit

    An African-American man asked the U.S. Supreme Court to consider if he can proceed with his proposed race bias class action against Airbnb Inc., saying that a lower court’s decision to compel arbitration gives the rental website “a sustained license to self-police its discriminatory conduct.”

  • July 25, 2017

    TA Realty Sheds Industrial Portfolio In $201M Deal

    TA Realty LLC said Monday that it has unloaded a portfolio of 20 industrial properties located in the Mid-Atlantic region in a $201 million deal with real estate investment trust Colony NorthStar Inc.

  • July 24, 2017

    NJ High Court To Weigh Application Timing Rule For Builder

    The New Jersey Supreme Court has agreed to review a developer's challenge to a published state appellate panel decision that an application must be accompanied by documents required by a municipality in order for the proposal to be evaluated based on regulations in effect at the time the application is filed.

  • July 24, 2017

    Wells Fargo Fights Investor's Class Cert. Bid In RMBS Suit

    Wells Fargo Bank NA has slammed a bid for class certification from an investor suing the bank over its alleged failures as trustee of two residential mortgage-backed securities trusts, telling a New York federal court on Monday that the proposed class is unworkable.

  • July 24, 2017

    ‘Bad Actors’ Can’t Escape EB-5 Investors' $50M Hotel Suit

    A Florida federal judge on Monday tossed several defendants’ bids to dismiss a securities fraud suit brought by a group of foreign nationals seeking EB-5 visas via a botched hotel deal in Palm Beach, ruling that the facts alleged about the “bad actors” in the deal are sufficient for the case to move forward.

  • July 24, 2017

    Ga. City Says Utility Policies Don’t Target Minorities

    A Georgia city asked a federal judge Friday to dismiss a lawsuit claiming its utility policies illegally discriminate against African-Americans and immigrants, saying the policies have legitimate, nondiscriminatory purposes and the federal anti-bias law cited by the plaintiffs does not apply in these circumstances.

  • July 24, 2017

    No Redo For NM Utility In Navajo Right-Of-Way Suit: 10th Circ.

    The Tenth Circuit on Friday rejected a request by a New Mexico utility to rethink its ruling that the company cannot secure a path for a transmission line through property partly owned by the Navajo Nation, despite the utility’s contention that the ruling will make it harder for state and local governments to carry out infrastructure projects.

  • July 24, 2017

    Orange County Scores Win In FAA Suit Over Airport Lease

    The Federal Aviation Administration on Friday axed a complaint alleging Orange County, California, is “banking land” and refusing to negotiate reasonable lease terms for longtime fixed-base operators that provide aircraft fueling and maintenance services at John Wayne Airport in Santa Ana.

  • July 24, 2017

    1st Circ. Revives Fired Worker’s Contract Suit Against Resort

    The First Circuit handed a win Friday to the former sales director of a resort that fired him before his contract was up, finding a lower court was wrong to conclude his lack of a broker’s license voided his employment agreement when questions remained over whether he could have done some of his duties without it.

  • July 24, 2017

    Chicago Law Firms In Trademark Fight Over 'O'Keefe' Names

    Two small Chicago law firms, both named “O'Keefe” and both focusing on tax law, are locked in a trademark fight over their shared use of the surname.

  • July 24, 2017

    Wells Fargo Wants Philly's Lending Bias Suit Axed

    Wells Fargo & Co. urged a Pennsylvania federal judge on Friday to throw out a lawsuit from the city of Philadelphia accusing the bank of systematically targeting minority borrowers for high-interest loans in violation of the Fair Housing Act.

  • July 24, 2017

    PNC Bank Can't Duck New ResCap Loan Claims

    A Minnesota federal judge on Friday denied PNC Bank's bid to toss the second lawsuit brought against it by ResCap Liquidating Trust over the alleged sale of bad loans by a PNC predecessor that supposedly contributed to ResCap's bankruptcy, saying the two suits are based on different facts.

  • July 24, 2017

    Starhill Global REIT Scores $514M In Credit Facilities

    Starhill Global Real Estate Investment Trust's manager has reached a deal with seven banks for a SG$700 million (US$514 million) unsecured credit facility comprising several pieces, according to a release Monday from the Singapore REIT.

  • July 24, 2017

    KPMG Exec Says Real Estate Firms Lag On Cybersecurity

    Although cybersecurity is on the radar of real estate firms, many haven’t done adequate due diligence and lack appropriate security and insurance, and all too often they wait until an attack occurs to make a change, KPMG partner Michael Smith told Law360 in a recent interview.

Expert Analysis

  • 5 Questions Firms Should Ask When Evaluating Litigation AFA

    Gregory Lantier

    Law firm management should understand the client’s reasons for requesting an alternative fee arrangement, and whether approving the fee will help grow the relationship with the client, say attorneys with WilmerHale.

  • For Law Firm Offices, Business Savvy Is The New Cool

    Craig Braham

    Having embraced the notion that the right space can reinforce the right firm culture, law firm leaders have been evaluating real estate primarily for its physical properties. However, It's hard to be collegial, even in the coolest of in-house coffee bars, if your cost structure is untenable, says Craig Braham of Advocate Commercial Real Estate Advisors LLC.

  • Unclear Consequences For Lenders Asking Language Choice

    Platt,Laurence_4C.jpg

    When should mortgage lenders be required to conduct business in a foreign language because the consumer has expressed a preference for a different language? This is only one of the questions that is “top of mind” for lenders, servicers and loan-holders who have read the Federal Housing Finance Agency’s recent request for input on language access in mortgage lending and servicing, say Laurence Platt and Tori Shinohara of Mayer Brown LLP.

  • The Best Documents In Your Case May Be From 3rd Parties

    Wyatt Dowling

    Cases are built on evidence and evidence comes from discovery. But discovery is largely a voluntary process. Serving a document subpoena on a third party can be an efficient and creative way to fill in the gaps that may exist in the productions of opposing parties, says Wyatt Dowling of Yetter Coleman LLP.

  • A Possible Pathway Out Of The Stern V. Marshall Maze

    Benjamin Feder

    PEM Entities v. Levin, which the U.S. Supreme Court will hear next term, potentially could provide the court with a coherent rationale to start resolving the uncertainty it created six years ago in Stern v. Marshall regarding the constitutional authority of bankruptcy courts, says Benjamin Feder of Kelley Drye & Warren LLP.

  • Planning A Legal Career With A Future Relocation In Mind

    Jacqueline Bokser LeFebvre

    Lawyers move to New York City to work on some of the most sophisticated work the legal market has to offer. This exposure and experience is an amazing asset and many of the skills developed will make associates very marketable in the event they consider relocating to another market. However, this isn’t always the case, says Jacqueline Bokser LeFebvre of Major Lindsey & Africa.

  • 4 Female Perspectives On BigLaw Leadership

    Regina Pisa

    Only a handful of the largest U.S. law firms are led by women. Here, in their own words, are perspectives from Shook Hardy & Bacon Chair Madeleine McDonough, Crowell & Moring Chair Angela Styles, Morgan Lewis & Bockius Chair Jami Wintz McKeon and Goodwin Procter Chair Emeritus Regina Pisa.

  • The Elephant In The Room: Advancing Women To Partnership

    Anusia Gillespie

    Despite more focus and investment, the numbers continue to show little progress in advancing women to the top tiers of firm leadership. Considering the irreversible nature of the transformation of the market for top talent, it is time to start experimenting and innovating from the core, rather than from the periphery, say Anusia Gillespie and Scott Westfahl of Harvard Law School.

  • How Midsize Law Firms Can Minimize Cybersecurity Threats

    K. Stefan Chin

    It can be challenging for midsize law firms to develop an enterprise cybersecurity program that mitigates the eminent threat of data breach and meets the regulatory and compliance requirements of the firm and its clients. This challenge becomes daunting when considering the steady rise in client audits, say K. Stefan Chin of Peckar & Abramson PC and John Sweeney of Logicforce.

  • Ensuring Compliance With Sprinkler Laws In NYC

    DANIELSUCKERMAN.JPG

    In New York City, Local Law 26/04 requires that owners of buildings above a certain size must install sprinklers on all floors by July 1, 2019. Landlords' counsel should be mindful of whether form leases are updated to address this requirement, and tenants' counsel should be savvy of where issues and costs arising out of the requirement may be lurking in a typical lease, says Daniel Suckerman of Lowenstein Sandler LLP.