Real Estate

  • May 29, 2020

    National Assoc. Of Realtors Hit With More Antitrust Claims

    The National Association of Realtors was hit Thursday with another antitrust suit over a new rule that prohibits members from privately marketing properties without using the association's listing service, this time brought by a competitor claiming the measure is "overbroad and restrains competition unnecessarily."

  • May 29, 2020

    Bankruptcies Pile Up As COVID-19 Pandemic Squeezes Cash

    In the 2½ months since COVID-19 created a national emergency in the United States, dozens of companies have tilted into bankruptcy in the retail, travel and energy sectors, and a former bankruptcy judge predicts the turmoil will spread further through the economy in the coming months.

  • May 29, 2020

    U.S. Bank Fights Commerzbank's Redo Bid In RMBS Suit

    U.S. Bank NA shot back at Commerzbank's bid to reconsider a court order trimming the German bank's suit over U.S. Bank's stewardship of pre-crisis residential mortgage-backed securitization trusts, telling a New York federal court that its ruling resolved several issues and needs "no epilogue."

  • May 29, 2020

    Latham Facing DQ Bid From Ex-Clients In Ponzi Scheme Suit

    Two title and insurance companies being sued by investors over an alleged Ponzi scheme have asked a California state judge to disqualify Latham & Watkins LLP from representing the investors, saying Latham's defense of the companies in a previous Ponzi case gives the firm a conflict as it goes against the businesses now.

  • May 29, 2020

    Calif. $12.5B Biz Property Tax Hike Qualifies For Nov. Ballot

    A California initiative seeking to raise $12.5 billion annually by removing commercial and industrial properties from certain state constitutional tax protections qualified for the November general election Friday.

  • May 29, 2020

    Texas Justices To Consider Royalty Clause Dispute

    The Texas Supreme Court on Friday agreed to review an oil and gas developer's dispute with royalty owners over whether the company can charge them for post-production costs.

  • May 29, 2020

    Homeowners Ask 7th Circ. To Revive Toxic Dust Suit Again

    Wisconsin property owners say a district court has failed twice now to properly apply environmental protection laws after a 2015 facility demolition allegedly spewed up so much contaminated dust that they needed windshield wipers to drive.

  • May 29, 2020

    Lawmakers Say DOI's Trust Decision 'Infringed' On Congress

    The U.S. Department of the Interior exceeded its lawful powers when it revoked trust land from a Massachusetts tribe in March, a bipartisan group of members of Congress have written in an amicus brief filed in D.C. federal court.

  • May 29, 2020

    Coronavirus Q&A: Foley & Lardner's Health Practice Chair

    In this edition of Coronavirus Q&A, one of Foley & Lardner LLP's top health lawyers discusses how the pandemic's psychological trauma could reshape mental health care and what COVID-19's brutal toll on senior citizens means for nursing home operations and investments.

  • May 29, 2020

    Real Estate Rumors: CIM Group, IBM, Lone Pine Capital

    CIM Group is reportedly on the hunt for $396 million in financing for a New York City office property, IBM is said to be leaving its 70,000 square feet of space at a Manhattan WeWork property, and Lone Pine Capital has reportedly inked a deal to lease 8,102 square feet on Madison Avenue.

  • May 29, 2020

    Kirkland, Sidley Steer Starwood's $325M Lifeline To TPG Unit

    Starwood Capital has agreed to inject up to $325 million into a troubled TPG real estate finance unit, a deal guided by Sidley Austin LLP and Kirkland & Ellis LLP that's intended to help keep the unit afloat in the current market conditions.

  • May 29, 2020

    NJ Extends Deadline For Property Tax Appeals Amid COVID-19

    New Jersey Gov. Phil Murphy signed a bill extending to July 1 the deadline to file 2020 property tax assessment appeals, and extending deadlines for county tax boards to decide on such cases, as relief from the COVID-19 pandemic.

  • May 29, 2020

    3 Questions For Tenants And Owners As Subleasing Looms

    As office and retail tenants continue to have difficulty making rent amid the COVID-19 pandemic, many will look to sublease some or all of their space, and lawyers say the pandemic has ushered in a unique set of sublease questions.

  • May 29, 2020

    Borrowers Denied Cert. In Green Home Loans Suit

    A federal judge in California on Thursday denied a bid for class certification in a suit accusing a green home upgrades financing company of misrepresenting the terms of its loans, telling the borrowers they didn't show they had actually viewed various versions of the company's alleged misrepresentations.

  • May 29, 2020

    Judge Calls Brooklyn Housing Court Reopening A Challenge

    The Kings County Housing Court in downtown Brooklyn, New York, is so cramped, a New York City administrative judge said, that he wouldn't blame anyone for not wanting to enter the building anytime soon. 

  • May 29, 2020

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

    The past week in London has seen German financier Lars Windhorst dragged into court by a hospitality company, an Emirati lender sue former executives of a scandal-hit health company, and a bank representing the estate of musical artist Prince file IP claims against a unit of a major record label.

  • May 28, 2020

    Seattle Fed. Courts May Not Hold Trials Until 2021, Judge Says

    A Seattle federal judge made an educated guess this week that civil and criminal jury trials in the Western District of Washington will likely not resume until at least 2021 due to the spread of the deadly coronavirus.

  • May 28, 2020

    Insurer Tells 7th Circ. Coverage Doesn't Apply In Injury Suit

    Columbia Insurance Group Inc. told the Seventh Circuit Thursday that a lower court incorrectly found it had a duty to defend two property companies as additional insureds in a man's lawsuit over injuries he suffered at work.  

  • May 28, 2020

    NY Landlords Sue Over Cuomo's Order Restricting Evictions

    A group of landlords filed a federal lawsuit Thursday against New York Gov. Andrew Cuomo over his executive order limiting evictions during the COVID-19 crisis, arguing that the move violated their due process rights and their "constitutionally protected right against takings."

  • May 28, 2020

    Pot Farming Not Protected Under Constitution, Judge Says

    A Washington federal judge has tossed due process claims brought by a pot growing operation that was forced to close after the county it was located in retroactively banned cannabis production, saying the right to cultivate cannabis is not a protectable property interest under the U.S. Constitution.

  • May 28, 2020

    Coronavirus Litigation: The Week In Review

    A BigLaw firm and the NBA face lawsuits over allegedly delinquent rent payments, House Republicans are suing Speaker Nancy Pelosi over proxy voting amid the ongoing pandemic and Enterprise Rent-A-Car employees say the company should have warned them that mass layoffs were on the horizon. 

  • May 28, 2020

    KKR Clinches $4B Credit Fund With Support From Paul Weiss

    KKR, advised by Paul Weiss, said Thursday it has raised $4 billion for a credit fund that will invest in opportunities that exist as a result of market dislocation caused by the coronavirus pandemic, including in areas like private equity, infrastructure and real estate.

  • May 28, 2020

    Pa. Mall Lender Says COVID-19 No Escape From Rent Seizure

    The loan servicer for a Pittsburgh-area shopping center said a major tenant's rent reduction was a valid trigger for diverting all the tenants' rents toward its debt repayment and said the mall couldn't cite the COVID-19 pandemic to get an emergency injunction, according to filings in federal court Thursday.

  • May 28, 2020

    LA Councilman's Ex-Aide Latest To Admit To Bribery Schemes

    A former aide to Los Angeles City Councilman Jose Huizar became the latest City Hall figure to agree to plead guilty to taking part in bribery schemes under investigation by federal authorities, according to court records unsealed Wednesday.

  • May 28, 2020

    Anadarko Can't Duck Wyoming Landowners' Antitrust Suit Yet

    Anadarko Petroleum Corp. hasn't mounted a strong enough case to convince a Wyoming federal court to dismiss claims that the company has been collecting drilling permits it doesn't intend to use in order to keep others from profiting off certain swaths of land.

Expert Analysis

  • Avoiding Inadvertent Privilege Waivers In E-Communications

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    Attorneys at WilmerHale highlight recent developments in privilege law, the significant challenges raised by nontraditional working arrangements popularized during the pandemic, and ways to avoid waiving attorney-client privilege when using electronic communications.

  • 5 Tips For Drafting Effective Legal Billing Guidelines

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    To properly manage outside counsel, it's imperative for a company's legal department to implement and maintain rules on what they will and won't pay for, on staffing cases and requesting rate increases, and on how matters will be handled, says Chris Seezen at Quovant.

  • Opinion

    Don't Cancel Your Summer Associate Programs

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    While pulling off an effective summer associate program this year will be no easy feat, law firms' investments in their future attorneys should be considered necessary even during this difficult time, says Summer Eberhard at Major Lindsey.

  • Tech Will Play Key Role In Real Estate's Road To Recovery

    Excerpt from Lexis Practice Advisor
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    With unprecedented stress on real estate operations due to the COVID-19 crisis, this is a time to reflect on the property technology industry's success in recent years and to recognize how those models can be used to rebuild for the future, say attorneys at Goodwin.

  • Early Securities Litigation Trends Stemming From Recent IPOs

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    Attorneys at WilmerHale analyze Securities Act complaints against companies that went public immediately prior to and during the COVID-19-induced market volatility, providing preliminary insights into whether, when and on what basis recent issuers are facing securities litigation.

  • 5 Ways To Reduce Post-Pandemic Legal Malpractice Exposure

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    History suggests that legal malpractice claims will rise following the current economic downturn, and while a certain percentage of the claims will be unavoidable, there are prophylactic steps that law firms can take, says John Johnson at Cozen O'Connor.

  • Steps Borrowers In Commercial Real Estate Must Take Now

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    Many lenders accommodated commercial real estate investors and borrowers with short, multimonth payment deferrals amid the COVID-19 crisis, but these grace periods will end well before the fallout of the pandemic will, and the bank will come knocking, says Katherine Amador at Berger Singerman.

  • NYC COVID-19 Lease Guarantee Law May Be Unconstitutional

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    A New York City law signed into law Tuesday cancels personal guarantees executed in conjunction with commercial leases when tenants default on rent due to COVID-19, setting up a potential clash between the city's police powers and the U.S. Constitution's contracts clause, says Massimo D'Angelo at Adam Leitman.

  • Opinion

    Credibility Concerns About Virtual Arbitration Are Unfounded

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    Concerns that videoconferenced arbitration hearings compromise an arbitrator's ability to reliably resolve credibility contests are based on mistaken perceptions of how many cases actually turn on credibility, what credibility means in the legal world, and how arbitrators make credibility determinations, says Wayne Brazil at JAMS.

  • A Tax Primer For PE Investment In Distressed Real Estate Debt

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    Investors interested in discount purchases of distressed real estate debt in the wake of the pandemic must consider potential tax obligations, many of which may be triggered without concurrent receipt of cash proceeds to pay the tax, says Peter Elias at Pillsbury.

  • A Lawyer's Guide To Client Service Continuity Planning

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    Ensuring uninterrupted client service and compliance with ethical obligations in a time when attorneys are more likely to fall ill means taking six basic — yet often ignored — steps to build some redundancy and internal communication into legal practice, say attorneys at Axinn.

  • Superfund Ruling May Increase Landowners' Cleanup Liability

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    The U.S. Supreme Court's ruling in Atlantic Richfield v. Christian featured an expansive interpretation of property owners' liability for hazardous substances that come to be located on their land, and will have far-reaching implications for those whose property has been contaminated by offsite sources, say attorneys at Haynes and Boone.

  • Virtual Meetings Could Be Fertile Ground For Legal Discovery

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    Many remote meeting technologies include recording features as default settings, raising three primary concerns from a legal discovery and data retention perspective, and possibly bringing unintended consequences for companies in future litigation, says Courtney Murphy at Clark Hill.

  • Bankruptcy's 'Deep Freeze' May Be Struggling Cos.' Best Hope

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    A tsunami of bankruptcy filings due to the economic effects of the coronavirus may not be a bad thing, as it could provide the only way for some struggling companies to stay alive — a minimalist, deep hibernation mode where they can await rescue, says Joseph Moldovan at Morrison Cohen.

  • Funding Considerations Amid COVID-19 Liquidity Crunch

    Excerpt from Lexis Practice Advisor
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    Companies and creditors in search of funding during the pandemic should analyze available options under existing bond and term loan covenants, and explore creative ways to establish priority status where necessary in the critical search for liquidity, say attorneys at Shearman.

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