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Real Estate
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March 22, 2024
Home Sellers Hope $58M Compass Deal Helps Spur Others
Compass Inc. announced Friday that it would pay home sellers $57.5 million in the first settlement since the National Association of Realtors reached its own deal this month to pay $418 million and overhaul rules that have effectively restricted how brokers buy and sell homes and how they're paid.
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March 22, 2024
Ind. Factory Adds To Historic $112M Bad Faith Coverage Win
A flooded factory building that was awarded $112 million in a historic bad faith win added to its victory Friday when an Indiana federal court denied its insurers' requests for a new trial and granted the factory more than $7 million in costs and interest.
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March 22, 2024
Fla. Judge Allows Sale Of Ex-MLBer's House In Fraud Suit
A Florida state court judge on Friday allowed the sale of a house owned by ex-Boston Red Sox outfielder Rusney Castillo to go forward over the objection of a sports managing company, which accused the baseball player of fraudulent transfer in order to avoid a $3 million judgment against him.
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March 22, 2024
5th Circ. Asked For Do-Over In Hurricane Coverage Feud
The owners of a New Orleans apartment complex urged the Fifth Circuit to rethink ordering them to arbitrate Hurricane Ida damage claims under New York law, arguing New York's choice-of-law clause would ordinarily be unenforceable under Louisiana law if it weren't couched within the arbitration provision.
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March 22, 2024
Ohio Board Upholds $2.2M Hotel Value Cut Due To COVID
The Ohio Board of Tax Appeals upheld a local tax board's decision to lower the value of a hotel property by $2.2 million, saying in an order Friday that the hotel proved COVID-19 led to a reduction in value.
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March 22, 2024
Colo. Water District Illegally Doubled Tax Rate, Panel Says
A water conservancy district violated the Colorado Constitution when it doubled its property tax rate without voter approval, a state appeals court ruled, reversing a lower court's decision against a proposed class of property owners.
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March 22, 2024
NYC Landlord Jailed For 'Notoriously Negligent' Conditions
One of New York City's "most notoriously negligent landlords" will spend up to 60 days in Riker's Island jail after he ignored the conditions of two apartment buildings in Manhattan's Washington Heights neighborhood, the city's Department of Housing Preservation and Devleopment has announced.
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March 22, 2024
Lewis Brisbois Accused Of Filing 'Sham' Suits To Avert Fault
A group of 185 Chinese investors have accused Lewis Brisbois Bisgaard & Smith LLP attorneys of filing numerous lawsuits — and collecting $3.8 million in legal fees — to cover for failing to read "draconian" contract terms that led the investors to lose their $92.5 million stake in a $2.5 billion Los Angeles mixed-use development.
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March 21, 2024
LA City Official Ran Secret Consulting Firm, RICO Jury Told
Former Los Angeles Deputy Mayor Raymond Chan secretly ran an outside real estate consulting firm for years while still employed at City Hall and covertly worked to help get his client's planned $700 million hotel renovation approved, his former business partner testified Thursday at Chan's federal racketeering trial.
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March 21, 2024
6th Circ. Probes Outside Firm's Outreach To Class Members
A Sixth Circuit judge suggested Thursday that there may be free-speech issues with an order barring outside attorneys from sending solicitation letters to potential class members poised to benefit from a pending settlement over Michigan counties' tax foreclosure practices.
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March 21, 2024
Navy Federal Wants Racial Lending Discrimination Suit Axed
Navy Federal Credit Union on Thursday urged a Virginia federal court to toss a consolidated proposed class action accusing it of racial lending discrimination following a CNN report last year, arguing the plaintiffs have not shown that they were qualified for the loans they applied for, or that the credit union considered race when denying their applications.
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March 21, 2024
Developer Says Partner Mishandled Funds In Denver Project
A real estate developer and a related online platform have accused a hedge fund in Colorado state court of misusing grant money and owing fees for a Denver commercial housing project.
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March 21, 2024
El Paso Says US Can't Weigh In On Tribal Land Suit
El Paso, Texas, is fighting the federal government's bid to back the Ysleta del Sur Pueblo in its land ownership suit, arguing that the government is trying to force a school district to exchange land with the tribe for a promise it won't file aboriginal rights' claims in the area.
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March 21, 2024
Calif. Panel Revives Diner's COVID Sanitization Coverage Bid
A California state appeals court revived a diner's bid for property insurance coverage of COVID-19 losses after it determined the restaurant credibly alleged direct physical losses and that the policy's language covering losses attributable to a virus applied to COVID-19 sanitization efforts.
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March 21, 2024
Canadian Supplement Co. Seeks US Bankruptcy Recognition
A nutritional supplement supplier based in Montreal told a Delaware bankruptcy judge Thursday it needs the U.S. court to recognize its Canadian insolvency proceedings, reasoning that an eviction threat may cut off access to assets in California the debtor needs for its sale plans.
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March 21, 2024
8th Circ. Backs Attys' Win In COVID Hotel Eviction Challenge
Two government attorneys did not violate the U.S. Constitution when they gave the green light to a Minnesota police department to forcibly remove a resident from a Super 8 motel in June 2020 amid a COVID-19 era eviction ban, the Eighth Circuit ruled in a precedential opinion Thursday, citing a "dearth of precedent."
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March 21, 2024
Reorganized REIT Can't Duck Interest Post-Ch. 11, Judge Says
Texas real estate investment trust Hartman SPE LLC must pay an additional $870,000 to satisfy a secured lender's claim, a Delaware bankruptcy judge ruled Thursday, finding that even though the mortgage is set to be repaid Friday, Hartman SPE is still responsible for interest until mid-April.
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March 21, 2024
Judge In Blackstone Lease Row Wants Colo. Justices' Input
A Colorado federal judge has said he would like to have the state Supreme Court answer key questions in a putative class action against Blackstone subsidiaries, writing that tenants' claims alleging the companies' lease agreements violate state law present novel legal issues with little case law to provide guidance.
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March 21, 2024
Nursing Home Woes, Cyberattack Sparked Petersen's Ch. 11
Rising costs after the COVID-19 pandemic, cyberattacks and a general shift away from nursing homes led senior-living company Petersen Health Care to seek Chapter 11 bankruptcy protection this week with about $296 million in debt, according to a declaration filed Thursday by the company's top restructuring official.
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March 21, 2024
9th Circ. Backs Rescission Of Homeowner's Property Policies
Two Safeco insurers are entitled to rescind policies issued to a woman who misrepresented that her house wasn't used for business when in fact it was rented to short-term guests, the Ninth Circuit affirmed, saying there's no genuine issue of material fact as to the commercial use of the property.
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March 21, 2024
Shumaker Hires Kass Shuler Atty In Tampa As Partner
A 13-year Kass Shuler PA attorney and one-time Florida assistant state's attorney, has joined Shumaker Loop & Kendrick LLP in Tampa as a partner, the firm announced Thursday.
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March 21, 2024
Construction Atty Moves Practice To Snell & Wilmer In Dallas
Snell & Wilmer LLP's geographic footprint and full-service capabilities helped convince a seasoned commercial litigator to move his real estate and construction law practice from Cokinos Young PC to the firm's Dallas office.
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March 21, 2024
Ky. Coal Mine Owner Tells 6th Circ. Lease Sale Was Improper
The owner of a sprawling Kentucky coal mine told the Sixth Circuit on Thursday that a sale of leases by the mine's bankrupt operator was improper because the bankruptcy court didn't hold a required hearing on changes to the assignment of leases.
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March 21, 2024
Nossaman Adds 2 Eminent Domain Partners In Texas
Nossaman LLP announced Thursday that Seijin C. Brooks and Melissa Ferringer have joined the firm's Austin, Texas, office as partners in that shop's eminent domain and valuation group.
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March 20, 2024
Petersen Health Care Files Ch. 11 Amid Suits Over HUD Loans
Assisted living facility operator Petersen Health Care Inc. and more than 100 affiliates filed for Chapter 11 protection Wednesday in Delaware as the company faces claims it has failed to pay millions of dollars in federal housing loans.
Expert Analysis
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As AI Pricing Tools Evolve, So Does Antitrust Risk
As the use of pricing algorithms has given rise to regulatory scrutiny and civil actions, such as RealPage Rental Software Antitrust Litigation in the Middle District of Tennessee and Gibson v. MGM in the District of Nevada, independent pricing decisions and other best practices can help limit antitrust risk, say attorneys at Axinn.
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How Investors Can Seize Renewables Opportunities In RE
As governments and stakeholders increasingly focus on sustainability in the real estate sector, investors could capture significant upside by implementing an operational real estate strategy focused on renewable energy sources, say attorneys at Goodwin.
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What Large Language Models Mean For Document Review
Courts often subject parties using technology assisted review to greater scrutiny than parties conducting linear, manual document review, so parties using large language models for document review should expect even more attention, along with a corresponding need for quality control and validation, say attorneys at Sidley.
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Series
Participating In Living History Makes Me A Better Lawyer
My role as a baron in a living history group, and my work as volunteer corporate counsel for a book series fan association, has provided me several opportunities to practice in unexpected areas of law — opening doors to experiences that have nurtured invaluable personal and professional skills, says Matthew Parker at the Nebraska Department of Health and Human Services.
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Insurance Cos. Are Stretching Construction Standard Limits
In the construction sector, the importance of closely vetting downstream parties' insurance policies has never been more critical — owners and general contractors need to be on the lookout for ever broader carrier-specific expansions of standard insurance provisions that are perilous for risk transfer, says Eric Clarkson at Saxe Doernberger.
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Opinion
Private Equity Owners Can Remedy Law Firms' Agency Issues
Nonlawyer, private-equity ownership of law firms can benefit shareholders and others vulnerable to governance issues such as disparate interests, and can in turn help resolve agency problems, says Michael Di Gennaro at The Law Practice Exchange.
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Potential WeWork Bankruptcy May Disrupt Coworking Spaces
If WeWork files for bankruptcy, as hinted at in its recent quarterly earnings report, landlords may struggle to take over management of WeWork's coworking spaces, but the coworking industry as a whole is showing some promise in adapting to the market's evolving post-pandemic office needs, says Ann Chandler at Hall Estill.
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How To Protect Atty-Client Privilege While Using Generative AI
When using generative artificial intelligence tools, attorneys should consider several safeguards to avoid breaches or complications in attorney-client privilege, say Antonious Sadek and Christopher Campbell at DLA Piper.
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How New Lawyers Can Leverage Feedback For Growth
Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.
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A Cautionary Tale Of Flawed Debt Accounting And SEC Fines
The U.S. Securities and Exchange Commission's recent improper-accounting charges against Malvern Bancorp and its ex-CFO highlight crucial practice issues, including the need to objectively evaluate borrowers' credit, say attorneys at Arnold & Porter.
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Series
ESG Around The World: Australia
Clive Cachia and Cathy Ma at K&L Gates detail ESG-reporting policies in Australia and explain how the country is starting to introduce mandatory requirements as ESG performance is increasingly seen as a key investment and corporate differentiator in the fight for global capital.
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Bat's Newly Endangered Status Likely To Slow Development
A recent change in the classification of the northern long-eared bat from "threatened" to "endangered" could have significant effects on development in large portions of the Eastern and Southeastern U.S. — and in the absence of straightforward guidelines, developers will have to assess each project individually, says Peter McGrath at Moore & Van Allen.
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9 Consumer Finance Issues To Note From CFPB Report
A recent report from the Consumer Financial Protection Bureau highlights abusive consumer finance tactics that the agency uncovered during supervisory examinations over the last year — among the most significant issues identified: deceptive practices in automotive loan servicing, and consumer reporting and debt collection compliance failures, say attorneys at Troutman Pepper.
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Twitter Legal Fees Suit Offers Crash Course In Billing Ethics
X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.
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Litigation Can Facilitate EB-5 Investor Visa Determinations
Processing times in the EB-5 investor visa program continue to rise, but filing a mandamus claim in the right venue against U.S. Citizenship and Immigration Services may offer applicants mired in delay a means to expedite processing, says Mark Stevens at Clark Hill.