Real Estate

  • February 23, 2018

    LA Developer Charged With Funneling Cash To Politicians

    The developer of a controversial $72 million Los Angeles apartment project was charged Friday with illegally using straw donors to funnel nearly $200,000 to eight local politicians while seeking a change to the zoning of his property in the Harbor Gateway neighborhood, according to California state court filings.

  • February 23, 2018

    Texas Justices Revive Law Firm's Fight For Fees

    The Texas Supreme Court sided with Alexander Dubose Jefferson & Townsend LLP on Friday and reversed lower court rulings that the law firm had missed the deadline to pursue a portion of sanctions and fees awarded in a lengthy underlying suit over a real estate transaction.

  • February 23, 2018

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

    The last week has seen hundreds of new claimants bring competition suits against Visa and MasterCard, Italian bank Dexia lodge a claim against a Sicilian city still staring down a pre-crisis-era derivatives contract, and the liquidator for an FCA-targeted carbon credit investment scheme file a negligence claim against Nabas International Lawyers LLP.

  • February 23, 2018

    DBSI Trustee Wants IRS To Return All Ponzi Funds

    The bankruptcy trustee of doomed Ponzi vehicle DBSI Inc. has moved for a quick win in its claw back suit against the IRS in Idaho federal court, arguing the federal tax authority is still on the hook for $3.6 million the company used to pay its principals’ income taxes.

  • February 23, 2018

    Looming Cap On Borrowing Could Alter Financing Strategies

    In four years, the new tax law is scheduled to tighten restrictions on businesses claiming deductions for interest paid on borrowed funds, but highly leveraged companies already are evaluating how this imminent change will affect their cash flows and financing options.

  • February 23, 2018

    Fla. Man, City To Spar Over Retaliatory Arrest In High Court

    When Fane Lozman — houseboat owner, activist and thorn in the side of Riviera Beach, Florida’s city government — makes his second trip to the U.S. Supreme Court on Tuesday, he’ll argue that the city arrested him because of his vocal opposition to a marina development plan, in a case that will have the justices tackle whether probable cause for an arrest eclipses any claims of retaliatory arrest.

  • February 23, 2018

    Real Estate Rumors: StepStone, Maxim Capital, Brock

    Financial services company StepStone is said to be taking 30,000 square feet in New York, Maxim Capital has reportedly loaned $50 million for certain unsold luxury condo units in Florida and Brock Development is said to have landed a $20 million construction loan for a Florida hotel project.

  • February 23, 2018

    Trump Hotel Cos. Fight to Keep Law Firm Arb Suit Federal

    Trump International Hotels Management LLC and an affiliate hit back Thursday at a Panamanian law firm’s request to remand its suit accusing the Trump entities of improperly responding to arbitration over a “mismanaged” hotel by pulling the firm into the fight, telling a Delaware federal court that the matter doesn’t belong in state court.

  • February 23, 2018

    UK Health Care REIT Scores £94M From Share Sale

    U.K.-based real estate investment trust Target Healthcare REIT Ltd. on Friday said a recent stock offering raked in £94 million ($131.3 million) to be used to finance a number of current investments, as well as pending and potential projects.

  • February 23, 2018

    Aaron Hernandez's Daughter Sues For Piece Of Home Sale

    The mother of Aaron Hernandez’s daughter is suing the estates of the three men the former NFL star was accused of murdering to ensure the 5-year-old receives up to $500,000 from the sale of the deceased Pro Bowler’s Massachusetts home.

  • February 23, 2018

    Pa. Treasurer Targets 3 Banks In Lending Disparity Probe

    The Pennsylvania Treasury has announced an official inquiry into Wells Fargo, Santander Bank and PNC Financial Services over alleged racial and ethnic disparities in home mortgage lending that have been identified in a recent report from the Center for Investigative Reporting.

  • February 23, 2018

    Ocwen Sues Insurer Over Coverage Of Investor Suit

    Mortgage servicer Ocwen Financial Corp. sued U.S. Specialty Insurance Co. in Florida federal court Thursday, saying the insurer is denying coverage for a 2017 shareholder suit by wrongly tying it to older claims against the company.

  • February 23, 2018

    Latham & Watkins Advises Hyatt On $1B Sale Of 3 Hotels

    Latham & Watkins LLP has guided Hyatt Hotels Corp. in the $1 billion sale of three hotels to real estate investment trust Host Hotels & Resorts Inc., the law firm said on Friday.

  • February 23, 2018

    Developers Eyeing Midtown East Projects, But Face Hurdles

    Questions abounded as to how developers would react after New York City last year finalized plans to rezone dozens of blocks in Midtown East, but several recently announced projects have lawyers saying the area could see a surge of development activity — although challenges remain.

  • February 22, 2018

    Judge Mulls Tossing Extortion Counts Against Ex-Cuomo Aide

    The Manhattan federal judge overseeing Joe Percoco's criminal corruption trial strongly hinted Thursday that she is considering dismissing extortion counts against the former “right-hand man” to New York Gov. Andrew Cuomo accused along with three businessmen in two bribery schemes.

  • February 22, 2018

    Resort-Focused Aspen REIT Pulls Reg A+ IPO

    Aspen REIT Inc., a real estate investment trust that was formed to own a Colorado mountainside resort and sought to become the first single-asset REIT to list on major stock exchange, late on Wednesday postponed an offering to raise about $34 million through a Regulation A+ “mini-IPO."

  • February 22, 2018

    Insurers Fire Back At Bank's Bid For 6th Circ. Revival

    Eight insurers have told the Sixth Circuit that not only did they rightfully refuse to pay $75 million toward a $212 million settlement First Horizon National Corp. reached with regulators, but that the appeals court should revive their bad faith and breach of settlement claims against the bank.

  • February 22, 2018

    Newark Accused Of Unlawfully Shielding Amazon HQ Docs

    A New Jersey man has slammed Newark with a lawsuit in state court alleging the city unlawfully denied his public records request for documents related to its bid to land Amazon's second U.S. headquarters, citing "a compelling public interest" in learning such information.

  • February 22, 2018

    NY Tells 2nd Circ. To Toss Couple's $5M Income Tax Appeal

    The New York State Department of Taxation and Finance and other state agencies told the Second Circuit on Wednesday to reject a couple's suit alleging the agencies violated their constitutional right to live in separate states by requiring the couple to pay New York taxes on $5 million in capital gains from selling property in Florida.

  • February 22, 2018

    Real Estate Rumors: Michael Dell, 601W, JDS

    Michael Dell is reportedly the mystery $100.47 million buyer of a Manhattan penthouse, developer 601W is said to have picked up a site in Chicago for $34 million, and a JDS Development venture has reportedly scored $91 million in financing for a New York condo project.

Expert Analysis

  • Understanding Texas Mechanic's Liens And Bonds: Part 3

    Excerpt from Lexis Practice Advisor
    Tolin_David.jpg

    Texas is home to relatively complex statutory frameworks for liens and bonds used to secure payment for services rendered. Statutory and constitutional liens provide powerful remedies for nonpayment, but only if the proper guidelines are strictly observed, says David Tolin of Cokinos Young in the final part of this article.

  • Breaking Down The New Interest Deduction Limitation

    Breaking Down The New Interest Deduction Limitation

    The Internal Revenue Code has historically limited the ability of corporations to deduct certain interest paid to related parties, but the recent tax reform modified this limitation and expanded its application. In this video, Taylor Kiessig and Brian Tschosik of Eversheds Sutherland LLP discuss differences between the historic and new versions of this limitation on interest expense.

  • Understanding Texas Mechanic's Liens And Bonds: Part 2

    Excerpt from Lexis Practice Advisor
    Tolin_David.jpg

    Texas is home to relatively complex statutory frameworks for liens and bonds used to secure payment for services rendered. Statutory and constitutional liens provide powerful remedies for nonpayment, but only if the proper guidelines are strictly observed, says David Tolin of Cokinos Young in the second part of this article.

  • Dueling Tax Measures On San Francisco's June Ballot

    Richard Nielsen

    In June 2018, the San Francisco electorate will vote on the two competing tax measures, Housing for All and Universal Childcare for San Francisco Families. The measures differ in purpose, tax rate and exemptions, but either one would mean a huge increase in taxes for commercial landlords, say attorneys at Pillsbury Winthrop Shaw Pittman LLP.

  • Understanding Texas Mechanic's Liens And Bonds: Part 1

    Excerpt from Lexis Practice Advisor
    David Tolin

    Texas is home to relatively complex statutory frameworks for liens and bonds used to secure payment for services rendered. Statutory and constitutional liens provide powerful remedies for nonpayment, but only if the proper guidelines are strictly observed, says David Tolin of Cokinos Young.

  • How Emerging Sources Of ESI Will Impact Discovery

    Charles McGee

    Late last year, the Sedona Conference released the third edition of its principles addressing electronic document production, updated to account for innovations like Snapchat and Twitter. It may be necessary for these principles to be updated more often in order to keep pace with technology, says Charles McGee III of Murphy & McGonigle LLP.

  • Put The Brakes On Acceleration Bay Litigation Funder Ruling

    David Gallagher

    Last week, the District of Delaware raised eyebrows by ruling that documents provided to a litigation funder and its counsel in connection with their due diligence are categorically not attorney work product. Acceleration Bay v. Activision Blizzard seems to be a case of bad facts making bad law, says David Gallagher, investment manager and legal counsel for Bentham IMF.

  • How Bank Secrecy Act Affects Lending To Foreign Borrowers

    Kevin Kim

    U.S. real estate has become a very attractive investment for overseas investors. For those financial services companies that lend to foreign borrowers, some simple steps added to their underwriting policies can ensure they are not violating the Bank Secrecy Act, says Kevin Kim of Geraci Law Firm.

  • Considerations For Attorneys Using Artificial Intelligence

    Ben Allgrove

    Artificial intelligence tools can empower attorneys to work more efficiently, deepen and broaden their areas of expertise, and provide increased value to clients, which in turn can improve legal transparency, dispute resolution and access to justice. But there are some common pitfalls already apparent in the legal industry, say Ben Allgrove and Yoon Chae of Baker McKenzie.

  • Series

    Judging A Book: Duncan Reviews 'Justice And Empathy'

    Judge Allyson Duncan

    In "Justice and Empathy: Toward a Constitutional Ideal," the late Yale Law School professor Robert Burt makes a compelling case for the undeniable role of the courts in protecting the vulnerable and oppressed​. But the question of how the judiciary might conform to Burt’s expectations raises practical problems​, says U.S. Circuit Judge Allyson Duncan of the Fourth Circuit. ​