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Real Estate

  • June 15, 2018

    OneWest Again Avoids Fraud Claim In Foreclosure Action

    A New Jersey state appeals court has refused to revive a consumer fraud claim against OneWest Bank FSB in a mortgage foreclosure action, saying a trial court properly found that the bank could not be held liable since its predecessor has not been connected to the allegedly illicit conduct of a mortgage broker.

  • June 15, 2018

    Taxation With Representation: Wachtell, Shearman, Simpson

    In this week’s Taxation with Representation, KKR bought Envision Healthcare for $9.9 billion, Gebr. Knauf KG bought rival USG Corp. for $7 billion, Blackstone bought Investa Office Fund for $2.3 billion and Royal Caribbean Cruises scooped up Silversea Cruises for $1 billion.

  • June 15, 2018

    FTC Adds 3 Years To CoreLogic Data Licensing Conditions

    The Federal Trade Commission has voted to extend its conditions on CoreLogic Inc.'s $661 million deal for private equity-owned rival DataQuick Information Systems Inc. for another three years, saying Friday that the company hadn’t completely complied with the initial deal conditions.

  • June 15, 2018

    Real Estate Rumors: Walgreens, KKR, Trammell Crow

    Walgreens Boots Alliance is reportedly close to taking more than 200,000 square feet of Chicago office space, a KKR joint venture is said to have dropped $250 million on a Miami office tower and developer Trammell Crow has reportedly picked up a Florida retail center for $30.1 million.

  • June 15, 2018

    Swire Properties Sells 2 Hong Kong Towers For $1.9B

    Hong Kong developer Swire Properties Ltd., which is majority-owned by private equity shop Swire Pacific, has reached a deal to sell a pair of Hong Kong office towers to Henglilong Investments Ltd. for HK$15 billion ($1.91 billion), according to an announcement from Hong Kong-based Swire on Friday.

  • June 15, 2018

    Insurers Fight Over Coverage For Man's Spine Injuries

    The insurer of a building where a worker alleges he was seriously injured has asked a Pennsylvania federal court to order Liberty Mutual Insurance, which provides an underlying umbrella liability policy, to own up to the policy's full $5 million of additional coverage and not just the $1 million it says it's responsible for.

  • June 14, 2018

    Akerman Real Estate Atty Takes Helm In Its Chicago Office

    Akerman LLP announced it has named real estate and municipal law attorney Meg George as its newest managing partner in its Chicago office, making her the youngest woman to serve in a managing partner role for the firm.

  • June 14, 2018

    Boston City Council Approves Airbnb Rental Restrictions

    The Boston City Council has voted heavily in favor of regulating short-term rental units, making it illegal to post investor-owned units on platforms such as Airbnb, approving an ordinance introduced by the mayor.

  • June 14, 2018

    Deals Rumor Mill: H&M, Greystar, WeWork

    H&M’s chairman brushed off rumors that the retail giant’s founders are mulling a buyout deal, Greystar Real Estate Partners lobbed a $3.1 billion offer to buy Education Realty Trust, and WeWork could reap additional funding from SoftBank that could value the company at more than $35 billion.

  • June 14, 2018

    Jury Must Decide If Shell, Alon Breached Easement: Judge

    A California federal judge refused Thursday to grant property owners a win on claims that pipelines owned by Shell Pipeline Co. and Alon USA Paramount Petroleum Corp. interfered with the landowners' use of their property and violated an easement contract, saying a jury should decide the matter.

  • June 14, 2018

    Katten Guides AIG Unit's $80M Hudson Yards Loan To Moinian

    Katten Muchin Rosenman LLP represented AIG subsidiary American General Life Insurance Co. in connection with its $80 million loan to Moinian Group for an office and retail tower project on 11th Avenue in Manhattan, according to records made public in New York on Thursday.

  • June 14, 2018

    Real Estate Rumors: WeWork, Google, Robbins Property

    WeWork is reportedly leasing 60,000 square feet in New York, Google and Trammell Crow are said to have picked up three California parcels for $9.5 million, and Robbins Property has reportedly dropped $43 million on a Florida apartment complex.

  • June 14, 2018

    'Buffalo Billion' Defense Denied Subpoena To Jailed Witness

    The Manhattan judge set to oversee the criminal trial of former State University of New York President Alain Kaloyeros and three other men accused of rigging bids in the state's so-called Buffalo Billion revitalization effort turned aside a defense subpoena Thursday that sought information about a jailed cooperating witness.

  • June 14, 2018

    NJ Atty Reprimanded For Mishandling Mortgage Suit

    The Supreme Court of New Jersey has ordered that a Philadelphia attorney be reprimanded for failing to oppose a dismissal motion or keep a married couple informed while representing them in a forced mortgage default action, which resulted in lenders filing a foreclosure complaint against the couple.

  • June 14, 2018

    Fla. Justices Urged To Stay Out Of Public Records Dispute

    Florida urged the state’s Supreme Court on Wednesday not to take up an appeal by two law firms that say an appellate court erred in upholding a public records exemption protecting certain personal information held by the state’s financial services agency for participants in two real estate insurance programs.

  • June 14, 2018

    Freshfields, Roschier Steer Kojamo's €150M IPO

    Freshfields Bruckhaus Deringer LLP and Roschier Attorneys Ltd. represented Finland-based real estate firm Kojamo PLC in connection with its initial public offering, which the company said Thursday is expected to generate gross proceeds of roughly €150 million ($174.5 million).

  • June 13, 2018

    Insurer Off Hook For Builder's $5M Retaining Wall Damage

    National Union Fire Insurance Co. doesn’t have to pay for a subcontractor’s $5 million settlement tied to damage resulting from the installation of a retaining wall, a Maryland federal court ruled Tuesday, finding a “damage to impaired property” exclusion applies.

  • June 13, 2018

    NJ Town Illegally Blocked Jewish Worship Site Plan, Feds Say

    The federal government slapped a New Jersey town with a lawsuit Wednesday over its refusal to approve an Orthodox Jewish group's plans to build a new house of worship, in alleged violation of religious land-use law.

  • June 13, 2018

    No New Trial Over 5Pointz Graffiti Destruction, Judge Says

    A New York City real estate developer who demolished the famed graffiti space 5Pointz won't get a new trial, after a federal judge Wednesday issued a scathing opinion that blasted the owner for lying in court and other “egregious behavior.”

  • June 13, 2018

    Related Group Wants Ball Janik DQ'ed In Defect Litigation

    The Related Group told a Florida appeals court Wednesday that Ball Janik LLP should be disqualified from representing a Fort Myers condominium association in litigation over construction defects because the firm has represented both the association and subcontractors involved in the dispute.

Expert Analysis

  • Reno Tax Landscape Encourages Growth And Opportunity

    Joshua Hicks

    All signs are positive that Reno, Nevada, will continue to grow thanks to its booming economy and low-tax environment. The way Nevada assesses properties' taxable value results in values significantly lower than market value, though there has been some pressure to change this methodology legislatively, say Joshua Hicks and Paul Bancroft of McDonald Carano LLP.

  • Series

    Judging A Book: Wallach Reviews 'Uncivil Warriors'

    Judge Evan Wallach

    "Uncivil Warriors: The Lawyers' Civil War," by Peter Hoffer, is a new book about the involvement of lawyers on both sides in the American Civil War. The discussion is enlightening and often fascinating, but falls short in several key areas, says Federal Circuit Judge Evan Wallach.

  • BigLaw Blogs In A Post-GDPR Marketing Universe

    Stephan Roussan

    Connecting with potential prospects is now more challenging due to the EU General Data Protection Regulation, meaning that law firm microsites, blogs and social media will become more valuable than ever. The firms that deploy them strategically will increase their relative visibility and accelerate the rebuilding of their opt-in distribution lists, says Stephan Roussan of ICVM Group.

  • 9th Circ. Preemption Ruling Could Be Costly For Banks

    Richard Gottlieb

    For many years, national banks have relied on preemption to exempt themselves from potential obligations under state escrow and other lending laws. The Ninth Circuit’s recent decision in Lusnak v. Bank of America that the National Bank Act does not preempt such laws could therefore have wide-ranging effects, say Richard Gottlieb and Diana Eisner of Manatt Phelps & Phillips LLP.

  • Choice Of Entity And IRC Section 1202 After Tax Reform

    Michael Wilder

    Since the tax overhaul, the reduction of the corporate tax rate and the new deduction for pass-through income have been widely discussed as they apply to choice of business entity. Also important, though less often analyzed, are strategies to utilize Internal Revenue Code Section 1202 and the exclusion of gain from the sale of qualified small business stock, say attorneys at McDermott Will & Emery LLP.

  • Do You Own The Graffiti Art On Your Building?

    Steven Weber

    H&M's recent lawsuit against graffiti artist Revok calls attention to questions that commercial property owners are trying to answer regarding what rights they have when graffiti art is painted on their walls against their will, say Steven Weber of Weber Law PA and Arturo Arca of Trembly Law Firm.

  • Texas 'Hail Bill' Promotes Dispute Resolution Over Litigation

    Kristin Cummings

    A Texas federal court's ruling in Carrizales v. State Farm Lloyds acknowledges that the primary purpose of Texas Insurance Code Section 542A, also known as the "Hail Bill," is to encourage resolution of disputed weather-related claims without the need for litigation, say Kristin Cummings and Lindsey Bruning of Zelle LLP.

  • Analyzing The Economics Of Litigation Funding

    J.B. Heaton

    The growth of litigation funding has only increased the controversy surrounding it. Looking to move beyond the rhetoric for and against the practice, attorney and investment analytics expert J.B. Heaton, of J.B. Heaton PC and Conjecture LLC, attempts an objective analysis of the underlying economics of the litigation funding arrangement.

  • Rule 23 Changes: How Electronic Notice Can Save Money

    Brandon Schwartz

    Courts are acknowledging a shifting consumer preference toward electronic mediums. Proposed changes to Rule 23, scheduled to take effect at the end of this year, will officially provide for the use of electronic notice in class actions — a change that could save parties a significant amount of money, say Brandon Schwartz and Maggie Ivey of Garden City Group LLC.

  • How We Got Here: A Look Back At Trailblazing Women In Law

    Jill Norgren

    Today's female lawyers stand on the shoulders of several generations of pioneers. Here, historian Jill Norgren explains how the status of women in the legal profession has changed since the 1870s.