A bank that claimed its lawyers knowingly misled it down a path of fruitless litigation after voluntarily dismissing its last viable foreclosure action should have been given a chance to plead around its attorneys’ statute of limitations defense, an Illinois appeals court held Friday.
The Second Circuit on Tuesday granted Goldman Sachs' petition — for a second time — to appeal a New York federal judge's decision to grant class certification to investors claiming the Wall Street giant lied about its ethical compliance efforts just before losing $1 billion in securities known as collateralized debt obligations.
The state of New Jersey and Jersey City officials have been slapped with a lawsuit by Mack-Cali Realty Corp. and others claiming the town’s new measure imposing a payroll tax on non-resident employees in order to help offset public education costs is illegal “special legislation” that violates the state constitution.
Burger chain Five Guys has urged an Illinois federal judge not to discard the company's argument that its restaurant design agreement with an architecture firm allowed the eatery to share design plans with others, saying a dismissal bid by the architect is untimely and "borderline frivolous."
Airbnb Inc. averted a trial Tuesday by settling a suit brought by the owner of several Miami-area apartment buildings that claimed the home-sharing platform supports and encourages unauthorized short-term rentals.
3650 REIT and Quadrant Capital have reportedly provided $36 million in financing, some of which is commercial-backed securities debt, for a Las Vegas grocery-anchored retail property; Butters Construction & Development is said to have paid $15 million for a Florida site; and Freshwater Group has reportedly bought various Miami apartment and condo units for $12.1 million.
Manhattan U.S. District Judge Valerie E. Caproni hit former State University of New York Polytechnic Institute President Alain Kaloyeros with three and a half years in prison Tuesday for rigging bids, but allowed the nuclear scientist credited with a revitalization of the upstate school to stay free while he appeals.
New York Life Insurance Co.'s real estate lending arm said Tuesday it will provide $97 million to a subsidiary of real estate investment trust Mack-Cali Realty Corp. to fund a waterfront residential and retail property in the Boston metropolitan area.
A consortium led by Chinese state-owned tourism and hospitality company Jin Jiang International Holdings Co. Ltd. has made an offer for Radisson Hospitality AB that values the company at approximately 7 billion Swedish kronor ($767.8 million), the hotelier said Tuesday.
The Trump administration on Tuesday unveiled its replacement of a rule designed to clarify which waterways in the country are subject to Clean Water Act jurisdiction, taking a narrower approach than the Obama administration and delivering on one of the president’s key campaign promises.
A dispute between an architect and a property management company that allegedly tried to use its plans without paying for them is headed for arbitration after an Illinois federal court ruled Monday that an arbitration agreement in the contested contract is enforceable.
Residential mortgage-backed securities investors have asked a New York federal court for rulings they say will narrow the issues for potential trial in two lawsuits they’ve brought over Deutsche Bank’s alleged failures as trustee for dozens of pre-crisis RMBS trusts, even as the bank says the cases should not be allowed to get that far.
A former executive of Long Island mortgage lender Vanguard Funding LLC was sentenced to two years after pleading guilty to lying to banks in order to obtain $8.9 million in short-term loans, the U.S. Department of Justice said on Monday.
A New Jersey appeals court ruled in a published decision Monday that the state’s discrimination law protections extend to buyers of homes in which members of a protected class will live, handing a victory to the operator of a planned group residence for autistic individuals.
Real estate investment trust Xenia Hotels & Resorts has acquired the former Mandarin Oriental Hotel in Atlanta for $53.5 million, rebranding it as the Waldorf Astoria Atlanta Buckhead, the company said Monday.
Sparc Homes LLC has landed $72 million in financing from a New York Life Insurance Co. lending arm for its recent purchase of an apartment complex in Bellevue, Washington, according to an announcement from New York Life on Monday.
BankUnited has reportedly loaned $26.5 million for the purchase of a Florida building, Oppenheimer & Co. is said to be taking 13,055 square feet on Third Avenue in Manhattan, and Landmark Development has reportedly paid $30 million for a Florida development site where it may build residential, retail and office space.
Sidley Austin LLP, Day Pitney LLP, Goodwin Procter LLP and Arnold & Porter were among more than a dozen law firms that assisted with the largest New York City deals for which deeds became public during the week of Dec. 3, a busy period that saw 12 transactions above $20 million.
Lehman Brothers and Tishman Speyer are off the hook yet again in a sprawling lawsuit sparked by their ill-fated purchase of real estate investment trust Archstone-Smith for $22 billion, after the Tenth Circuit affirmed a lower court's order that shut down the 10-year-long investor class action.
The Ninth Circuit should rehear a case in which a panel affirmed a nearly $35 million judgment against a husband and wife who bilked investors out of millions in an EB-5 visa scheme related to a cancer treatment center they never built, as the court did not properly consider inflation and the value of a green card, the couple argued Friday.
Last month, Amrock appealed a curious verdict that awarded contract breach defendant HouseCanary $706 million on a trade secret counterclaim. There are several factors that should cause one to raise an eyebrow over this initial outcome, says Thomas Hodge of Brock and Scott PLLC.
Opening comments by parties in mediation that are made with the proper content and tone can diffuse pent-up emotion and pave the way for a successful resolution. But an opening presentation can do more harm than good if delivered the wrong way, say Jann Johnson and William Haddad of ADR Systems LLC.
For 2018 returns, partnership tax audit adjustments will be assessed at the partnership — not the partner — level, causing a potentially inequitable result in the typical foreign blocker structure. The IRS has issued favorable, albeit complex, regulations to address this scenario, says Brad Wagner of Wagner Duys & Wood LLP.
Changes in tariffs, tax law and bank deregulation present a confusing picture of short-term gains and long-term risk for real estate. Eric Rapkin of Akerman LLP takes a look at the industry's "winners" and "losers" following these developments.
Due to the requirements of state law and properties' close proximity to one another, the need for well thought-out agreements providing license to access adjoining properties is the rule — not the exception — in New York City, says Jeffrey Reich of Schwartz Sladkus Reich Greenberg Atlas LLP.
Commercial real estate may be one of the greatest beneficiaries of blockchain. There are three areas that can be streamlined through this technology — municipal document recordings, verification of borrower data, and loan and ancillary document trigger events, say Jeffrey Lenobel and Aaron Retter of Schulte Roth & Zabel LLP.
When reading Tim Wu’s new book, "The Curse of Bigness: Antitrust in the New Gilded Age," lawyers, economists and historians will find its broad brush maddening, and the generalist reader will simply be misled, says D.C. Circuit Judge Douglas Ginsburg.
For the first time in 15 years, Federal Rule of Civil Procedure 23, governing class actions, has been amended. There are five key changes that will likely impact future federal class action litigation and settlements, say John Lavelle and Terese Schireson of Morgan Lewis & Bockius LLP.
It is disturbing that Reilly v. 6480 Pickney — the first civil trial involving the cannabis industry contested on an alleged violation of the Racketeer Influenced and Corrupt Organizations Act — progressed as far as it did before a jury put an end to it in October, say William Brewer and Peter Schwartz of Brewer Attorneys & Counselors.
Many of the issues that are most likely to draw the attention of state lawmakers next year — including cybersecurity, internet and data privacy, blockchain and cryptocurrencies, sales taxes on remote sellers, transportation and telecommunications infrastructure, and marijuana — are already familiar, says Korey Clark of State Net Capitol Journal.