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Real Estate

  • December 7, 2018

    Thrift Preemption No Help For Chase In Calif. Suit: Judge

    A San Francisco federal judge ruled Friday that Chase must face a proposed class action over its alleged failure to comply with a California mortgage escrow interest law, finding the preemption once enjoyed by the failed federal thrift originator of the plaintiffs' mortgages doesn't cover Chase's subsequent handling of the loans.

  • December 7, 2018

    Nexus Can Access Land For Pipeline Work, 6th Circ. Says

    A Sixth Circuit panel on Friday agreed with a lower court that gave Nexus Gas Transmission LLC quick access to landowners' properties in Ohio so that it could proceed with pipeline construction in a timely way.

  • December 7, 2018

    Execs Urge No Or Little Prison In $200M Del. Bank Fraud Case

    Four Wilmington Trust executives found guilty in a nearly $200 million federal securities fraud case in May have appealed for no, or little, prison time instead of the up to nine- and 11 ¼-year recommendations issued by prosecutors, according to documents made public on Friday.

  • December 7, 2018

    Intricacy Of Interest Deduction Regs May Vex Multinationals

    The U.S. Treasury Department’s decision to limit interest expense deductions for certain foreign affiliates of multinational corporations could force businesses to undertake complex calculations and puts them at a risk of paying more tax on global income.

  • December 7, 2018

    Advertisers Can't Tear Down NYC Billboard Ban At 2nd Circ.

    Advertisers can't block a New York City ban on billboard advertising near public parks and roadways after the Second Circuit said Friday a decades-old regulation exemption that lets signs plaster a Queens ballpark doesn't mean the companies are being deprived of their commercial speech rights.

  • December 7, 2018

    NY Builder Gets 3 Years For Bribery, 'Buffalo Billion' Fraud

    The former president of COR Development Co. was sentenced to three years in prison Friday, following his conviction for bribing a former top aide to New York Gov. Andrew Cuomo and his role in a scheme to rig bids for hundreds of millions of dollars in state development contracts.

  • December 7, 2018

    Paul Hastings Guides $900M JV Fund Buy Of Orlando Resort

    Paul Hastings LLP has represented a joint venture of funds managed by Trinity Real Estate Investments LLC and Elliott Management Corp. in the acquisition of the Grande Lakes Orlando Resort in Florida, a 409-acre complex that includes two luxury hotels, the law firm said Thursday.

  • December 7, 2018

    Bank Slams Bid To Shelter Owner In Jay Peak Fraud Case

    People's United Financial Inc. asked a Florida federal judge Thursday to deny a receiver's bid to protect Ariel Quiros, allegedly the architect of a $350 million EB-5 visa fraud scheme involving Vermont ski resort Jay Peak, saying there is no legal basis to reward Quiros by sheltering him from further claims.

  • December 7, 2018

    8 Firms To Guide 5 IPOs Led by Tencent Music's $1.1B Deal

    Eight law firms will guide five initial public offerings that could potentially raise more than $1.5 billion combined during the week of Dec. 10, possibly the last wave of IPOs for the year, led by an estimated $1.1 billion offering from streaming giant Tencent Music Entertainment Group.

  • December 7, 2018

    NJ Atty Suspended For Handling $23M Deals While Ineligible

    A New Jersey real estate attorney has been slapped with a three-year suspension by the state Supreme Court for practicing law while he was previously suspended, namely by representing borrowers in matters over about four years that involved more than $23 million in loan transactions.

  • December 7, 2018

    Data-Driven Lawyer: Morgan Lewis' J. Kyle Poe

    Morgan Lewis' J. Kyle Poe, a self-proclaimed "elder millennial," created a client management platform to streamline the firm's work in asbestos litigation that is now used across practice areas, making the firm's business more efficient and upping its ability to attract clients through innovative fee arrangements, earning him a spot on our 2018 list of Data-Driven Lawyers.

  • December 7, 2018

    Real Estate Rumors: LV Lending, Taconic, GLL

    LV Lending has reportedly provided a $10 million loan for a Florida retail project, a Taconic Investment venture is said to have bought a New York property for $269 million with financing from MetLife, and German fund GLL Real Estate Partners has reportedly sold a Florida office building for $25.1 million.

  • December 7, 2018

    KKR REIT Loans $267M For California, New York Properties

    KKR & Co. Inc.'s real estate investment trust lending arm has loaned $266.5 million for a pair or multifamily properties, one in California and a second in New York, according to a KKR announcement Thursday.

  • December 7, 2018

    State Dept. Can Still Count Relatives Toward EB-5 Visa Cap

    A D.C. federal judge refused to forestall the U.S. Department of State’s policy of counting foreign investors’ family members toward the EB-5 visa cap, dealing an early blow to a lawsuit levied by a group of Chinese investors who claim that the policy creates a lengthy visa backlog and conflicts with Congress’ intent.

  • December 6, 2018

    NY Developer Gets 2 1/2 Years For 'Buffalo Billion' Bid-Rigging

    A founder and former general counsel for upstate New York developer COR Development Co. LLC on Thursday was sentenced to two and a half years in prison for his role in an alleged scheme to rig bids for upwards of $600 million in development projects including in the state's "Buffalo Billion" program.

  • December 6, 2018

    SEC Gives Up On Litvak Suit After Feds Drop Charges

    A Connecticut federal judge on Thursday agreed to dismiss the U.S. Securities and Exchange Commission’s civil suit against former Jefferies Group LLC bond trader Jesse Litvak in the wake of the end of his five-year criminal case in which he was convicted twice but saw those convictions overturned.

  • December 6, 2018

    Enviros Sue To Block Minneapolis Rezoning Plan

    A coalition of environmental groups have filed a suit against the city of Minneapolis in Minnesota state court looking to block a proposed rezoning plan they say has not undergone a proper review and would cause severe environmental damage.

  • December 6, 2018

    Builder Stuck With Trimmed Fraud Suit Over Illinois Homes

    NVR Inc. can’t shake a proposed class action by Illinois homeowners who accuse the builder of installing lower-quality materials than advertised, according to an Illinois federal judge who found on Wednesday that the buyers' claims about cabinets and shingles were specific enough to survive dismissal.

  • December 6, 2018

    Pa. Justices Won't Hear Sunoco Pipeline Land-Grab Appeal

    The Supreme Court of Pennsylvania refused to hear an environmental group’s allegations that a Sunoco Inc. unit abused its eminent domain power assembling land for the controversial Mariner East 2 natural gas pipeline, according to an order made public Thursday.

  • December 6, 2018

    Ex-Sears CEO's Fund Submits $4.6B Ch. 11 Purchase Bid

    The hedge fund run by Sears Holding Corp. chairman and former CEO Eddie Lampert has said it will make a $4.6 billion offer to buy the bankrupt retail giant that the fund says would preserve about 500 stores and 50,000 jobs across the country.

Expert Analysis

  • 6th Circ. Encourages Insureds To Be Open With Insurers

    Matthew Beato

    The Sixth Circuit's recent decision in First Horizon v. Houston reinforces the importance of providing timely and complete notice to insurance carriers, and will discourage insureds from disguising crucial facts about claims, says Matthew Beato of Wiley Rein LLP.

  • Hospitals Should Plan For Tax Challenges Despite Ill. Decision

    Andrew Dick

    In Oswald v. Hamer, the Illinois Supreme Court upheld the constitutionality of the hospital property tax exemption in the state. While this decision allays recent uncertainty surrounding the exemption, the court left the door open to future challenges to the statute on other grounds. Hospitals in other states should also prepare for similar challenges, say attorneys at Hall Render Killian Heath & Lyman PC.

  • How Corporate Reputation Risk Is Exacerbating D&O Liability

    Nir Kossovsky

    At a time when the materiality of corporate reputation risk is widely recognized, but institutional safeguards against that risk are not, what are the implications for directors and officers? The current state of play is not comforting, says Nir Kossovsky of Steel City Re.

  • Triggering Civil Authority Coverage After A Natural Disaster

    Tracey Jordan

    As hurricane season continues, insured business owners in affected areas are likely to seek coverage for loss of business income. It's important to recognize that for business income insurance to cover losses caused by a civil authority order, the order must be a result of actual property damage, says Tracey Jordan of Foran Glennon Palandech Ponzi & Rudloff PC.

  • 5 More GC Tips For Succeeding As A New Associate

    Jason Idilbi

    Jason Idilbi, former BigLaw associate and general counsel of the tech startup Passport Labs Inc., returns to Law360 to share recent thoughts on best practices for newer associates — whether they are serving external clients or senior attorneys within their firms.

  • Series

    Judging A Book: Block Reviews 'Tough Cases'

    Judge Frederic Block

    In a new, extraordinary book, "Tough Cases: Judges Tell the Stories of Some of the Hardest Decisions They’ve Ever Made," 13 of my judicial brethren have courageously and dramatically humanized the judicial process, says U.S. District Judge Frederic Block of the Eastern District of New York.

  • Investment Cos. And REITs Receive Welcome Tax Guidance

    Martin Hamilton

    In two recently released revenue procedures, the IRS provided repatriation tax relief for registered investment companies and defined categories of foreign income for real estate investment trusts. Attorneys at Proskauer Rose LLP break down the significant effects.

  • 8 Innovative Ways To Empower Jurors

    Christopher Campbell

    Much time and attention have been focused on improving lawyers' abilities to communicate with and persuade juries in complex trials. But it is equally important to equip and prepare jurors to become better students in the courtroom, say attorneys with DLA Piper and Litstrat Inc.

  • Cloud Computing Clearly The Future For Small Firms

    Holly Urban

    While in-house technology investments on the scale and complexity needed to compete with large firms remain cost prohibitive for small and midsize law firms, cloud-based services offer significant cost savings and productivity gains with little to no capital investment, says Holly Urban of Effortless Legal LLC.

  • Leveraging Today's Lateral Associate Market

    Darin Morgan

    With the Milbank/Cravath pay scale once again equalizing compensation at many Am Law 100 firms, there is even more pressure for firms to differentiate themselves to top lateral associate candidates. This presents strategic considerations for both law firms and lateral candidates throughout the recruitment process, says Darin Morgan of Major Lindsey & Africa.