Real Estate

  • January 9, 2009

    Kimball Hill Fights Bid To Lift Stay In Ch. 11 Case

    Homebuilder Kimball Hill Inc. is fighting a bid to lift the stay in its bankruptcy case so a $90 million settlement can be finalized in a product liability case over faulty plumbing systems allegedly installed in Kimball Hill homes.

  • January 9, 2009

    Lenders Stonewall Legal Fees In DBSI Ch. 11

    The first fee requests by the firms representing DBSI Inc. in Chapter 11 are being blockaded by banks who argue the firms must not be paid from cash collateral securing loans to the foundering real estate investment company.

  • January 9, 2009

    Real Estate Co. Signs On To Green Goals With EPA

    In an effort to greenify some of the thousands of properties it manages around the nation, commercial real estate firm Cushman & Wakefield Inc. has signed an agreement with the U.S. Environmental Protection Agency setting a host of environmental goals, including a 30 percent reduction in energy consumption for the buildings it oversees by 2012.

  • January 7, 2009

    Citicorp Objects To Tousa Cash Extension Request

    The administrator of Tousa Inc.'s revolving credit facility has opposed the bankrupt homebuilder's request for extended use of cash collateral, saying the money was being squandered by creditors in pursuit of unrealistic claims against senior lenders.

  • January 6, 2009

    Barclays Balks At Pachulski's Fee Request

    The debtor-in-possession financier for LandSource Communities Development LLC is protesting the most recent fee application brought by Pachulski Stang Ziehl & Jones LLP, arguing that the price tag submitted by the unsecured creditors' counsel exceeds the limit the DIP order set.

  • January 6, 2009

    Democrats Propose Mortgage Modification Bills

    Congressional Democrats have introduced new bills that would empower bankruptcy judges to modify the terms of home mortgages to stem the rising tide of foreclosures, after a similar initiative failed last year amid stiff opposition from lenders.

  • January 6, 2009

    Judge Won't Enter $1.4B Judgment Against Trump

    The federal district judge overseeing a bid-rigging case accusing billionaire investor George Soros, Deutsche Bank and others of engaging in a scheme to win the auction for the General Motors Building has declined to enter a $1.4 billion default judgment against defendant Donald Trump.

  • January 5, 2009

    Tousa Creditors Object To Execs' Legal Fees

    Creditors of bankrupt homebuilder Tousa Inc. have asked a court to stop the company from paying $155,000 in legal fees to two executives under investigation by the U.S. Securities and Exchange Commission.

  • January 5, 2009

    Mall Owner Shifts Bankruptcy Counsel To Weil Gotshal

    About a month after beleaguered mall owner General Growth Properties Inc. retained bankruptcy counsel from Sidley Austin LLP, the company has changed its primary representation to Weil Gotshal & Manges LLP as it struggles to renegotiate billions of dollars in debt.

  • December 31, 2008

    QHL Asks Judge To OK Deal With Hedge Fund

    A trustee representing failed subprime lender Quality Home Loans has asked a bankruptcy judge to approve a settlement between several of the company's entities and a hedge fund in order to help complete the restructuring of the company.

  • December 30, 2008

    Dreier Group Abandons Sinking Ship For Olshan

    Caught up in the fraud scandal surrounding founder and sole equity partner Marc Dreier, a group of attorneys from the now-bankrupt Dreier LLP has found a new legal home at Olshan Grundman Frome Rosenzweig & Wolosky LLP.

  • December 29, 2008

    Ex-Holland Partner Accused Of Overbilling Client

    A former partner at Holland & Knight LLP has been accused of padding the legal bills charged to Pinnacle Corp. during a copyright infringement lawsuit that lasted from August 2002 to December 2004.

  • December 17, 2008

    AHM Seeks $5M To Defend Execs In Securities Suits

    American Home Mortgage Investment Corp. is looking to procure an additional $5 million in insurance proceeds for current and former executives facing securities fraud charges related to the company's bankruptcy.

  • December 16, 2008

    Ex-KB Home Exec Pleads Guilty In Securities Probe

    The former head of human resources at KB Home Inc. has admitted he conspired with ex-CEO Bruce Karatz to thwart federal investigators ahead of a probe into stock options backdating at the homebuilding giant, U.S. prosecutors said Monday.

  • December 15, 2008

    Customers Fight LendingTree Arbitration Clause

    Plaintiffs in a multidistrict litigation against online mortgage lender LendingTree LLC over its alleged breach of its customers' security are fighting an attempt by the company to stay their cases and force them into arbitration.

  • December 12, 2008

    9th Circ. Rejects 'Quick-Take' In Pipeline Project

    A federal appeals court has upheld a decision denying Transwestern Pipeline Co. a preliminary injunction as the company sought immediate possession of a parcel of land for its Phoenix-area natural gas pipeline expansion project.

  • December 12, 2008

    AA, United Liability Limited To $2.8B In WTC Case

    Real estate developer Larry Silverstein's World Trade Center Properties LLC and several holding companies won't be able to recover the $16.2 billion in damages they've been seeking if they win their case against defendants including American Airlines Inc. and United Air Lines Inc. over the terrorist attacks that destroyed the World Trade Center, a judge has ruled.

  • December 11, 2008

    Agere Still On The Hook For Va. Cleanup Costs

    A judge has declined to let Lucent Technologies spinoff Agere Systems Inc. off the hook for potential damages in a suit attempting to establish responsibility for environmental cleanup costs at a former Virginia factory now owned by shopping center developer Forest City Commercial Development.

  • December 10, 2008

    Tousa To Get $250K In Settlement With Appraiser

    Bankrupt homebuilder Tousa Inc. has settled with a real estate appraiser it accused of performing faulty due diligence on a 2005 acquisition for $250,000, a small fraction of the $500 million in losses Tousa said it incurred as a result of that deal.

  • December 9, 2008

    DBSI Wins Court OK To Further Tap Cash Collateral

    A bankruptcy judge has granted real estate investment company DBSI Inc. approval to continue its limited use of cash collateral in the face of objections by lenders who argued that the relief sought would diminish the value of their loans.