Real Estate

  • March 07, 2024

    Whistleblower Wants Reward For Helping SEC In $18M Scam

    A whistleblower told the Eleventh Circuit on Thursday that he is entitled to a whistleblower reward under the Dodd-Frank Act because he provided the U.S. Securities and Exchange Commission with information the agency used to obtain $18 million in judgments against the perpetrators of an alleged Ponzi scheme.

  • March 07, 2024

    Fed Working To Beef Up Supervision 'Rulebook,' Powell Says

    Federal Reserve Chair Jerome Powell told senators Thursday that efforts are underway to strengthen bank supervision following last year's failures of Silicon Valley Bank and other regional lenders, including the development of a "new rulebook" for more robust examiner action.

  • March 07, 2024

    Honigman Hires New Real Estate Partner For Detroit Office

    Honigman LLP hired Corey Levin as a partner for its real estate practice in Detroit, gaining an attorney with experience in getting business and tax incentives for clients while working at accounting firm Ernst & Young.

  • March 07, 2024

    NJ Appeals Court Revives Sex Bias Suit Against Mortgage Co.

    A trial court jumped the gun when it threw out a former mortgage company employee's lawsuit alleging she was subjected to sexist comments and then forced to quit, a New Jersey state appeals court ruled, concluding she had not waited too long to file her suit.

  • March 07, 2024

    Brothers Add $3B In Punitive Damages To $7B Real Estate Win

    A Los Angeles jury on Thursday hit a real estate tycoon with $3 billion in punitive damages after finding that he froze his brothers out of their lucrative partnership, bringing the estimated value of the total verdict to roughly $10 billion, according to attorneys. 

  • March 07, 2024

    Minn. Tax Court Rejects Appeal Of Parking Lot's Classification

    A Minnesota parking lot was correctly classified as commercial property by a local assessor, the state's tax court said, rejecting the owner's argument that it should be mostly classified as multifamily housing because of development plans for the site.

  • March 07, 2024

    Paul Hastings Lands NY Real Estate Pro From McDermott

    Paul Hastings LLP announced Thursday that it has hired a leader in complex real estate transactions as a partner in New York.

  • March 06, 2024

    Mistrial Bid Fails After $7B Sibling Rivalry Real Estate Verdict

    A California judge denied a motion for a mistrial Wednesday from a man who a jury found wrongly froze his brothers out of their multibillion-dollar real estate empire, finding the court did not err in limiting the defense's closing arguments for violating a discovery order.

  • March 06, 2024

    Federal Lawmakers Want To Protect 172 Acres For Calif. Tribe

    Legislation introduced by two U.S. senators would place 172 acres into trust for a California tribe in an effort to bring its members back to its reservation where they can develop a permanent home.

  • March 06, 2024

    Yellow Corp. Faces Pension Funds' Arbitration Bid In $6B Spat

    Eleven retirement funds urged a Delaware bankruptcy judge Wednesday to order Yellow Corp. to arbitrate their claims worth over $6 billion, arguing it would be efficient to take the dispute before a benefits plan expert, while the trucking firm insisted that arbitration would delay its ongoing Chapter 11 proceedings.

  • March 06, 2024

    11th Circ. Told IRA Account Isn't Exempt From $1.6M Ruling

    An attorney representing a group of creditors told the Eleventh Circuit on Wednesday that the individual retirement account belonging to a medical doctor-turned-developer isn't exempt from a $1.6 million judgment related to fraud, saying the Florida federal bankruptcy court ignored a ruling made in an Alabama state court.

  • March 06, 2024

    Ill. Appeals Court Revives Chicago Real Estate Tax Measure

    A Chicago referendum seeking authorization to impose tiered real estate transfer tax rates can proceed, an Illinois state appeals court ruled Wednesday, reversing a Cook County Circuit Court decision that blocked the city from counting votes on the measure.

  • March 06, 2024

    Fla. Judge Relieves Insurer Of $1M Construction Defect Row

    An insurer has no obligation to defend or indemnify a general contractor or subcontractor in an over $1 million faulty construction dispute, a Florida federal judge ruled, finding that the subcontractor's policies contained an unambiguous "residential construction" exclusion that clearly barred coverage.

  • March 06, 2024

    NYCB Gets $1B Infusion, Names Ex-OCC Chief As CEO

    New York Community Bancorp Inc. has lined up a $1 billion investment from several institutional investors, including former U.S. Secretary of the Treasury Steve Mnuchin's firm, in a deal guided by Skadden Arps Slate Meagher & Flom LLP and Sullivan & Cromwell LLP.

  • March 06, 2024

    PacifiCorp Must Pay $42.4M To Oregon Fire Victims, Jury Says

    A Portland jury said Tuesday that electric power company PacifiCorp must pay $42.4 million to compensate another 10 victims of devastating Labor Day fires that burned in Oregon in 2020, with thousands more class members awaiting potential trials.

  • March 06, 2024

    Minn. Tax Court OKs Value Of Home In Easement Dispute

    A Minnesota owner of lakefront property failed to convince the state's tax court that obstructions he claimed hindered access to the property through an easement should result in a lower valuation for tax purposes.

  • March 06, 2024

    Sidley Adds 11-Year Wiley Rein Leaders To DC Group

    Sidley Austin LLP has hired two members of Wiley Rein LLP's leadership, one of whom joins to help co-lead its global arbitration, trade and advocacy practice, the firm announced Wednesday.

  • March 06, 2024

    North Carolina Probing RealPage Over Antitrust Issues, Too

    The North Carolina Attorney General's Office is probing RealPage Inc. over concerns that its software helps property owners coordinate rent increases, adding to pressure on a company already facing private litigation and enforcement actions for allegedly violating antitrust law.

  • March 06, 2024

    CFPB Rebuffs Bid By MV Realty To End Investigation

    The Consumer Financial Protection Bureau has denied a plea from MV Realty to set aside the agency's investigation of the Florida-based company's use of 40-year exclusive listing agreements to force homeowners to pay thousands of dollars in junk fees.

  • March 06, 2024

    Md. Tax Court OKs Valuing Boat Slips, Condo Units Separately

    Two boat slips in a Maryland condominium development were correctly valued separately from the units for which they were exclusively reserved, the Maryland Tax Court ruled, affirming the methods of a local assessor.

  • March 05, 2024

    Settlement Gets 'Tire Spinning' EB-5 Fraud Suit Unstuck

    Winter thawed in a Florida courthouse on Tuesday when the last remaining defendant in a nearly decade-long $50 million investment fraud suit agreed to settle the case, surprising the judge and opposing counsel after refusing for years to strike a deal.

  • March 05, 2024

    Judge Skeptical Of Dallas Developers' RICO Argument

    A Texas federal judge on Tuesday dug into an argument by real estate entities associated with a Dallas developer, saying she "didn't just fall off the turnip truck" in response to the plaintiff's counsel detailing the nuances of real estate litigation.

  • March 05, 2024

    Court Has No Cause To Deny Casino Land Request, Tribe Says

    A Michigan tribe urged the D.C. Circuit to reverse a lower court's ruling blocking it from acquiring land for two casino developments, arguing there's no dispute it bought the land to generate gaming revenue and that the Supreme Court and Congress have recognized its endeavor.

  • March 05, 2024

    Receiver's Suit Merits 'Evil Zombie' Standing, 11th Circ. Told

    A receiver appointed to recover fraudulently transferred assets in the wake of a foreign exchange Ponzi scheme urged the Eleventh Circuit on Tuesday to revive its suit against an alleged operator under "evil zombie" standing, arguing that the wrongdoers no longer control the companies it represents.

  • March 05, 2024

    Utah Sues Feds To Reopen 195 Road Miles In San Rafael Desert

    Utah is suing the U.S. government in a bid to toss a Bureau of Land Management decision to close 195 miles of roads in a San Rafael Desert area known as the Red Rock Wilderness, arguing that the closures don't align with an earlier BLM plan.

Expert Analysis

  • Opinion

    Litigation Funding Disclosure Should Be Mandatory

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    Despite the Appellate Rules Committee's recent deferral of the issue of requiring third-party litigation funding disclosure, such a mandate is necessary to ensure the even-handed administration of justice across all cases, says David Levitt at Hinshaw.

  • Recalling USWNT's Legal PR Playbook Amid World Cup Bid

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    As the U.S. Women's National Soccer Team strives to take home another World Cup trophy, their 2022 pay equity settlement with the U.S. Soccer Federation serves as a good reminder that winning in the court of public opinion can be more powerful than a victory inside the courtroom, says Hector Valle at Vianovo.

  • What Came Of Texas Legislature's Long-Promised Tax Relief

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    Following promises of historic tax relief made possible by a record budget surplus, the Texas legislative session as a whole was one in which taxpayers that are large businesses could have done somewhat better, but the new legislation is clearly still a positive, say attorneys at Baker Botts.

  • CRE Guidance Helps Lenders Work With Struggling Borrowers

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    In recognition of growing troubles with commercial real estate loans, four federal regulators' recently updated loan accommodations guidance provides a helpful framework for approaching loan workouts without the punitive results of adverse classifications, say Jaclyn Grodin and Muryum Khalid at Goulston & Storrs.

  • Looking Behind The Curtain Of Residential Transition Loans

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    As residential transition loans and securitizations of such loans grow increasingly popular, real estate stakeholders should take care to understand both the unique features and potential challenges offered by this novel asset class, say attorneys at Mayer Brown.

  • Contract Disputes Recap: Timeliness, Evidence, Fact-Finding

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    Edward Arnold and Bret Marfut at Seyfarth Shaw look at three recent opinions from three stages of government contract claims litigation about avoiding untimeliness by ticking procedural boxes, supporting factual positions at the summary judgment stage and how the appellate boards review default terminations.

  • When Investment Banks Can Sell Real Estate In Calif.

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    When investment banks sell businesses that own property in California, they may run into trouble if they are not licensed real estate brokers, unless the property is merely incidental to the deal at hand, say attorneys at Holland & Knight.

  • Hedging Variable Interest Rates In A Volatile Market

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    Variable rate loans, which were an advantageous borrowing method prior to the recent Federal Reserve rate hikes and subsequent volatility, are now the difference between borrowers remaining current on their obligations and defaulting due to the sharply increasing debt service requirements of their loans, say attorneys at Cassin & Cassin.

  • Parsing FTC's Intercontinental-Black Knight Merger Challenge

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    The Federal Trade Commission's recent Article III case challenging a merger between Intercontinental Exchange and Black Knight suggests the agency is using a structuralist approach to evaluate the merger's potential anti-competitive harm, says David Evans at Kelley Drye.

  • Perspectives

    Mallory Gives Plaintiffs A Better Shot At Justice

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    Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.

  • CRA Plays Role In DOJ Fight Against Redlining

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    The U.S. Department of Justice’s recent consent order with ESSA Bank & Trust is a reminder that although the Community Reinvestment Act lacks a civil enforcement provision, financial institutions' CRA compliance efforts may have ramifications under various anti-discrimination statutes, say Collin Grier and Levi Swank at Goodwin.

  • Effectual Relief Questions Linger After Section 363 Ruling

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    In the months since the U.S. Supreme Court's ruling in MOAC Mall Holdings, courts and practitioners must grapple with the issue of what effectual relief courts may grant upon an appeal of an unstayed sale order, says Monique Jewett-Brewster at Hopkins Carley.

  • Colo. Eviction Case Could Transform Tenant Rights

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    The Colorado Supreme Court recently granted certiorari in a case that could open the door for tenants to assert allegations of discrimination and retaliation during eviction proceedings, and dramatically prolong the state's process, says Jacob Hollars at Spencer Fane.

  • Courts Can Overturn Deficient State Regulations, Too

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    While suits challenging federal regulations have become commonplace, such cases against state agencies are virtually nonexistent, but many states have provisions that allow litigants to bring suit for regulations with inadequate cost-benefit analyses, says Reeve Bull at the Virginia Office of Regulatory Management.

  • Opinion

    Harsh 11th Circ. Rebuke Should Inspire Changes At CFPB

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    The Eleventh Circuit's recent Consumer Financial Protection Bureau v. Brown decision, which found the CFPB's conduct had been egregious in a debt collection enforcement action, should encourage some reflection at the bureau regarding its level of attention to the reasonable due process concerns of regulated institutions, says Eric Mogilnicki at Covington.

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