Real Estate

  • February 11, 2009

    Kimble Hill Stay Lifted For Claims V. Insurance Cos.

    The judge overseeing homebuilder Kimball Hill Inc.'s Chapter 11 proceedings has lifted the automatic stay to allow the city of Aurora, Ill., to assert claims against Arch Insurance Co. and The Continental Insurance Co. related to construction work the debtors allegedly never completed.

  • February 10, 2009

    Levitt, Creditors Swipe At $102M BofA Claim

    With the hearing for defunct real estate developer Levitt and Sons LLC’s liquidation plan just 10 days away, the debtors and the unsecured creditors have objected to Bank of America NA’s $102 million claim on the estate.

  • February 11, 2009

    Latest Mortgages Ltd. Dispute Centers On Legal Fees

    Not satiated by prior disputes, the creditors and debtors in the contentious Mortgages Ltd. bankruptcy are now battling over whether the company should pay legal fees to its executives embroiled in a U.S. Securities and Exchange Commission investigation.

  • February 6, 2009

    American Home Mortgage Files Amended Ch. 11 Plan

    Bankrupt American Home Mortgage Holdings Inc. has put forward an amended liquidation plan, addressing widespread objections including those of the U.S. Securities and Exchange Commission and the Internal Revenue Service.

  • February 6, 2009

    Antitrust Suit Over Online Real Estate Listings Lives

    A federal judge on Thursday denied a motion to dismiss an antitrust lawsuit accusing two Detroit real estate associations of muscling a defunct real estate company out of a home listings database, with the court adopting a magistrate's opinion over one of the defendant's objections.

  • February 5, 2009

    HomeBanc Slouches Toward Ch. 7

    Lacking the resources and the backing to realize its liquidation plan, stricken lender HomeBanc Mortgage Corp. has asked the court to convert its bankruptcy to a Chapter 7 proceeding.

  • February 5, 2009

    Homeowners Accuse Wells Fargo Of Appraisal-Rigging

    An Arizona couple has filed a purported class action accusing Wells Fargo Bank NA and its home appraisal subsidiary of an anti-competitive scheme to rig the appraisal process and boost profits at the expense of homeowners.

  • February 4, 2009

    Bankrupt Subprime Lender Fights To Reclaim $1.5M

    Mortgage Lenders Network USA Inc. has filed an adversary complaint against Sovereign Bank to recover nearly $1.5 million it claims was illegally transferred after the subprime mortgage lender filed for Chapter 11.

  • February 4, 2009

    Landlord Wants Dreier LLP To Pay Up

    The Manhattan bankruptcy court overseeing Dreier LLP's Chapter 11 proceedings has been asked to force Dreier to cough up more than $2.1 million to cover post-petition rent and additional obligations stemming from the lease on the firm's Park Avenue office.

  • February 3, 2009

    Homebuilder Lennar Sues Chinese Drywall Makers

    Lennar Corp., the nation's second-largest homebuilder by volume, has sued more than two dozen manufacturers, suppliers and installers of drywall imported from China and installed in Florida homes, claiming the drywall emits unpleasant odors and causes electrical problems.

  • February 3, 2009

    Insurer Must Cover Condo Damage: 5th Circ.

    Finding that two business risk exclusions did not apply, the U.S. Court of Appeals for the Fifth Circuit has affirmed a ruling for a condominium developer seeking coverage under a general liability insurance policy for damage caused by a contractor’s faulty work.

  • January 28, 2009

    Jancor Spirals Into Ch. 7

    With post-petition loan deadlines expired and no alternative financing available for Jancor Cos. Inc., the bankruptcy court has authorized the conversion of the construction-products maker's bankruptcy to a Chapter 7 proceeding.

  • January 28, 2009

    AHM Ch.11 Plan Unfairly Frees Execs: SEC

    Already facing considerable opposition to its Chapter 11 liquidation plan, American Home Mortgage Holdings Inc. has come under fire from federal regulators who contend the plan seeks to release the company’s brass from potential lawsuits over securities violations.

  • January 28, 2009

    Bilski Test Dooms Real Estate Investment Patent

    A federal judge has granted real estate company Fort Properties Inc.'s motion for summary judgment in a lawsuit it brought over a business method patent, ruling that American Master Lease LLC's method for creating an investment instrument out of real property failed the Bilski test.

  • January 27, 2009

    Telesis, Insurer Spar Over Lead Paint Coverage

    A Washington, D.C., housing developer has fired back at the Fireman's Fund Insurance Co. for refusing to indemnify it in a lawsuit over a tenant's lead-poisoning suit, saying the insurance contract didn't contain an exclusion for lead paint.

  • January 27, 2009

    Lenders Object to Foley's Fees in DBSI Ch.11

    As DBSI Inc.’s bankruptcy unfolds, banks that provided loans to the troubled real estate investment company have fought to protect the debtors’ cash collateral, and, true to form, Foley & Lardner LLP’s latest fee request has met similar opposition.

  • January 27, 2009

    Woodside Exec Called To Help Clarify Ch. 11 Deals

    As part of an ongoing effort to untangle complex dealings inside bankrupt homebuilding giant Woodside Group LLC, a judge on Monday ordered another company executive to submit to examination in connection with certain asset transfers.

  • January 23, 2009

    Ervin Cohen Expands With 13 Moldo Davidson Lawyers

    Two Southern California law firms have decided to combine resources, in a merger that will transfer 13 attorneys from boutique business firm Moldo Davidson Fraioli Seror & Sestanovich LLP to the slightly larger Ervin Cohen & Jessup LLP, bolstering its bankruptcy and real estate practices.

  • January 23, 2009

    3rd Circ. Nixes Real Estate Co. Legal Malpractice Suit

    A federal appeals court has rejected a real estate management company's challenge to the dismissal of malpractice claims against Waters McPherson McNeill PC, Budd Larner Gross Rosenbaum Greenberg & Sade PC and McElroy Deutsch Mulvaney & Carpenter LLP over the handling of an environmental case against PPG Industries Inc.

  • January 22, 2009

    Judge OKs Kimball Hill Disclosure, Voting Process

    Kimball Hill Inc. filed its disclosure statement Wednesday, which was quickly approved by the bankruptcy judge overseeing the homebuilder's Chapter 11 liquidation.