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Real Estate
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August 06, 2024
Finance Co. EasyKnock Scams Poor Homeowners, Suit Says
Home finance company EasyKnock Inc. has been sued on allegations it targeted a low-income Philadelphia resident in an "equity-theft" scheme designed to dupe homeowners with an upfront cash payment for a gradual sale of their home that secretly transfers the title to the company.
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August 06, 2024
Ohio Board Affirms Nix Of Tax Break For Church's Rec Site
A recreation field owned by an Ohio-based church doesn't qualify for a property tax exemption because it wasn't used as a place of worship, the state Board of Tax Appeals affirmed.
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August 06, 2024
Ariz. Tribe Seeks To Block Lithium Exploration Project
An Arizona tribe is asking a federal district court to block the approval of a lithium exploration project that it says threatens the life of a sacred medical spring used for cultural and religious purposes, arguing the Bureau of Land Management failed to consider its actions on the historic property.
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August 06, 2024
DC Circ. Rules Russia Is Immune From Suit Over Jewish Texts
The D.C. Circuit ruled Tuesday that the federal court never had jurisdiction over a Jewish group's decades-old allegations that Russia is illegally holding on to its long-lost sacred texts, finding that the country has sovereign immunity and voiding nearly $200 million in fines levied against Russia.
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August 07, 2024
Simpson Thacher Pilots Stonepeak's $3B Opportunities Fund
Private equity firm Stonepeak, advised by Simpson Thacher & Bartlett LLP, raised $3.15 billion for a fund dedicated to opportunistic investing in the infrastructure sector, beating the fund's target by over $600 million, according to an Aug. 6 announcement.
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August 06, 2024
Aztec Fund Files For Ch. 11 With $100M In Liabilities
The Aztec Fund Holding Inc. has filed for Chapter 11 protection in Texas bankruptcy court, listing at least $100 million in liabilities.
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August 06, 2024
More Training Needed On SF Encampment Rule, Judge Says
A California federal magistrate judge has partially sided with homelessness advocates and San Francisco residents accusing the city and county of violating the U.S. and state constitutions by destroying homeless residents' self-made encampments and forcing them out of the city with citations, fines and arrests.
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August 05, 2024
Marriott Says NYC Hotels' Housing Of Migrants Violated Deal
Marriott International Inc. has accused a hotel company in Jamaica, Queens, of breaching a contract by repurposing two properties for migrant housing while refusing to "de-identify" itself with the global hotel brand.
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August 05, 2024
5th NYC Housing Worker Gets Prison In Anti-Corruption Bust
A Manhattan federal judge hit a retired public housing worker with 20 months in prison on Monday for taking over $83,000 of bribes, showing that prison is the most likely outcome for those convicted of felonies in the anti-bribery sweep.
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August 05, 2024
Andrews Myers Construction Atty Joins Cozen O'Connor
Cozen O'Connor has hired a construction litigator in California who has more than 14 years of experience representing clients in matters involving infrastructure, industrial and other construction projects, the firm announced Monday.
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August 02, 2024
How Two Non-Bankruptcy Attys Won A Rare Ch. 7 Jury Trial
A pair of Boston-based attorneys from Davis Malm scored a victory in a rare bankruptcy-related jury trial despite not being bankruptcy practitioners themselves, after a Delaware panel rejected a trustee's bid to recoup $44 million from a former grocery store magnate.
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August 02, 2024
Iowa, ND Move For Win In NEPA Rule Fight
States led by Iowa and North Dakota are asking a federal judge to scrap a Council on Environmental Quality rule they say threatens to turn the National Environmental Policy Act into an "action-forcing" process to advance the Biden administration's climate and environmental justice goals.
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August 02, 2024
Public Interest Groups Back ISP Bulk Billing Opt-Out
More than 30 public interest groups urged the Federal Communications Commission to allow consumers in multitenant environments to "escape" bulk billing for broadband service but quickly saw pushback from an industry group that calls the arrangements beneficial.
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August 02, 2024
Wolverine, Travelers Drop Coverage Claims Over PFAS Suits
Footwear company Wolverine and various Travelers units have agreed to end their coverage battle over underlying lawsuits accusing the company of injuring individuals through its leather tannery operations and exposing individuals to so-called forever chemicals, the parties told a Michigan federal court.
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August 02, 2024
Del. Judge Won't Toss Cos.' False Claims Coverage Dispute
A Delaware Superior Court judge refused to enforce a "no-action" clause in a suit brought by real estate holding companies seeking directors and officers coverage for an underlying False Claims Act qui tam action, according to a document obtained by Law360 on Friday.
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August 02, 2024
Real Estate Recap: Grants Pass, Population Data, CMBS Risk
Catch up on the past week's key developments by state from Law360 Real Estate Authority — including city and state reactions to the U.S. Supreme Court's ruling on homeless encampments, a new proptech venture leveraging population data for investors and developers, and one BigLaw leader's view of which sectors are most sensitive to commercial mortgage-backed securities distress.
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August 02, 2024
Navajo Restrict Radioactive Transport On Reservation Lands
For the next six months, no radioactive material can be transported across the Navajo Nation's reservation without prior agreement with the country's largest federally recognized tribe, according to an executive order signed by President Buu Nygren.
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August 02, 2024
Colo. Appeals Panel Rejects Lower Tax Rate For Hospital
A Colorado rehabilitation hospital should be classified as a commercial property for tax purposes because it was predominantly designed for its services and not for residency, a state appeals court said, reversing a state assessment board.
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August 02, 2024
Insurers Seek Quick Win In $2M Injury Coverage Suit
An AmTrust Financial unit and a Hartford unit each told a New York federal court that the other must solely cover a Manhattan property owner in a construction worker's $2 million injury action, disagreeing over whether the owner is an additional insured under the Hartford unit's policy covering a lessee.
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August 02, 2024
Ex-Loeb Tax Atty Latest Addition To Kilpatrick's NY Team
A former Loeb & Loeb LLP attorney is bringing his experience in U.S. federal tax matters and real estate transactions to Kilpatrick Townsend & Stockton LLP, the firm announced Thursday.
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August 02, 2024
Prosecutors Back NJ Judicial Privacy Law's Constitutionality
Daniel's Law is a "commonsense" measure necessary to counter the surge in threats and violence against judges and law enforcement officers, and it places only a "modest" burden on commercial data brokers, federal prosecutors told a New Jersey federal court weighing the future of the law.
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August 02, 2024
Land Sale Deals Allowed In Colo. Eminent Domain Dispute
A Colorado appeals court ruled against the city of Westminster in its eminent domain action, ruling that three comparable sales contracts and an adjacent land parcel's $51.5 million purchase and sale contract can be admitted as evidence in a valuation trial.
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August 02, 2024
Ohio Board Finds Park's Oil, Gas Production Area Tax Exempt
Space at a park in Ohio that is leased to a private entity to produce oil and gas is entitled to a property tax exemption, the state Board of Tax Appeals ruled Friday, saying the lessee's operations were incidental to the park's public purpose.
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August 02, 2024
3 Real Estate Investors Cop To $119M Mortgage Fraud Scheme
A trio of real estate investors has admitted to running an extensive, multiyear conspiracy to defraud Fannie Mae by getting the company to purchase or fund $119 million worth of mortgage loans so they could acquire residential and commercial properties, the U.S. Department of Justice announced Thursday.
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August 02, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen insurance broker Marsh sue the collapsed Greensill Bank, the former chair of the Islamic Students Association of Britain pursue a defamation case against the Jewish Chronicle, Berkshire Hathaway and Lloyd's face action from a shipping company, and alleged fraudster Ronald Bauer hit a loan company with a claim. Here, Law360 looks at these and other new claims in the U.K.
Expert Analysis
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Series
Riding My Peloton Bike Makes Me A Better Lawyer
Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.
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Class Actions At The Circuit Courts: March Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses four notable circuit court decisions on topics from consumer fraud to employment — and provides key takeaways for counsel on issues including coercive communications with putative class members and Article III standing at the class certification stage.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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What Recent Study Shows About AI's Promise For Legal Tasks
Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.
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How FinCEN Proposal Expands RE Transaction Obligations
Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.
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How Calif. Video Recording Ruling May Affect Insured Exams
A recent California appellate decision, Myasnyankin v. Nationwide, allowing policyholders to video record all parties to an insurance examination under oath, has changed the rules of the road for EUOs and potentially opened Pandora's box for future disputes, say John Edson and Preston Bennett at Sheppard Mullin.
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Litigation Inspiration: A Source Of Untapped Fulfillment
As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.
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Unpacking FinCEN's Proposed Real Estate Transaction Rule
Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.
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Series
Skiing Makes Me A Better Lawyer
A lifetime of skiing has helped me develop important professional skills, and taught me that embracing challenges with a spirit of adventure can allow lawyers to push boundaries, expand their capabilities and ultimately excel in their careers, says Andrea Przybysz at Tucker Ellis.
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Texas Insurance Ruling Could Restore Finality To Appraisal
The Texas Supreme Court's decision in Rodriguez v. Safeco, determining that full payment of an appraisal award precludes recovery of attorney fees, indicates a potential return to an era in which timely payment undoubtedly disposes of all possible policyholder claims, says Karl Schulz at Cozen O'Connor.
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Think Like A Lawyer: Forget Everything You Know About IRAC
The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.
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The Corporate Transparency Act Isn't Dead Yet
After an Alabama federal court's ruling last week rendering the Corporate Transparency Act unconstitutional, changes to the law may ultimately be required, but ongoing compliance is still the best course of action for most, says George Singer at Holland & Hart.
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New FinCEN Guide Provides Useful BOI Context For Banks
Financial institutions should review a new Financial Crimes Enforcement Network compliance guide for helpful details about how the agency's beneficial ownership information database should be used, though questions remain about the access rule and whether it will truly streamline bank borrowers' Corporate Transparency Act due diligence, says George Singer at Holland & Hart.
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How Firms Can Ensure Associate Gender Parity Lasts
Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.
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Opinion
Contractors Need Protection From NJ Homeowner Protections
A recently passed New Jersey law, combined with the state's Consumer Fraud Act, is intended to protect innocent homeowners, but legislative action must be taken to prevent homeowners from abusing the law to avoid paying hardworking contractors, say Gary Strong and Madison Calkins at Gfeller Laurie.