Real Estate

  • March 14, 2018

    Insurer's $2.7M Suit Against Surveyors Too Late, Judge Says

    Commonwealth Land Title Insurance Co. brought claims against two surveyors too late, a D.C. federal judge said Tuesday, ruling the insurer’s $2.7 million negligence suit over faulty surveying was clearly barred by a three-year statute of limitations.

  • March 13, 2018

    Real Estate Rumors: Extell, Crown, Oxford

    Extell Development has reportedly sold $107 million of preferred shares in its $4 billion Manhattan residential condo tower project, Crown Acquisitions is said to have purchased a Miami retail building for $25.65 million, and Oxford Properties Group is said to have landed a $180 million loan from Deutsche Bank for its recent New York mixed-use purchase.

  • March 13, 2018

    How They Won It: Akin Gump Lands High Court Win For Tribe

    Recognizing that the U.S. Supreme Court might be on the verge of overturning a D.C. Circuit ruling that Congress didn't violate the constitutional separation of powers with a law blocking a legal challenge to the Gun Lake Tribe's Michigan casino project, Akin Gump Strauss Hauer & Feld LLP stepped in and refocused the case on a new argument that tipped the scales decisively in the tribe's favor. 

  • March 13, 2018

    Arnold Porter, Jeffrey Zwick Steer $92M NYC Loan

    Arnold & Porter represented LoanCore Capital Credit REIT LLC in connection with its $91.92 million loan to Jeffrey Zwick & Associates PC-counseled Emerald Equity Group for its recent purchase of four Manhattan apartment buildings, according to records made public in New York on Tuesday.

  • March 13, 2018

    Mortgage Servicer Stuck With $8M Penalty In CFPB Suit

    A California federal judge on Monday stood by his judgment for the Consumer Financial Protection Bureau in its suit alleging a mortgage services company and its founder misleadingly marketed a mortgage payment program, swatting down their post-trial bids to get out from under a $7.93 million penalty and an injunction.

  • March 13, 2018

    Former Ill. Public Housing Vendor Accused Of $193K Fraud

    Illinois Attorney General Lisa Madigan and the Chicago Housing Authority announced charges against a former CHA vendor Tuesday, alleging the owner of a painting company made and deposited over $193,000 worth of fraudulent checks credited to the agency.

  • March 13, 2018

    Alaska Tribal Org Says Feds Can't Duck Land Cleanup Row

    A health care nonprofit run by an Alaskan tribe slammed the federal government's bid to escape a suit over its failure to clean up and transfer oil-contaminated land to the nonprofit, telling a D.C. federal judge Tuesday the government’s contention that the claims are time-barred runs contrary to case law.

  • March 13, 2018

    NJ Bill Would Allow Prepaid Property Taxes

    The New Jersey Senate Budget and Appropriations Committee approved a bill Tuesday that would allow taxpayers to make dedicated prepayment toward anticipated property taxes and would allow homeowners to prepay any quarterly property tax installment prior to the issuance of the tax bill for that installment.

  • March 13, 2018

    Marketing Firm Found In Default In Fla. Timeshare Exit Suit

    A Florida federal court entered a default judgment Tuesday against a marketing firm named in a suit alleging it illegally interferes in Westgate Resorts Ltd.’s contracts with timeshare owners, handing down its order after Westgate said the marketing firm’s owner refused to defend himself in the action.

  • March 13, 2018

    Investors Sue Comerica In $1.2B Woodbridge Ponzi Scheme

    Two investors in the Woodbridge Ponzi scheme have hit Comerica Bank with a proposed class action in Florida federal court, saying the bank was either negligent or “knowingly provided substantial assistance” to the suspected $1.2 billion fraud that was run almost entirely from Comerica accounts.

  • March 13, 2018

    Moody’s Dodges Bid To Revive Securities Ratings FCA Suit

    A New York federal judge on Tuesday dismissed the third amended complaint brought against Moody’s Corp. by a whistleblower alleging it violated the False Claims Act when it gamed ratings to preserve business in the lead-up to the 2008 financial crisis.

  • March 13, 2018

    High Court May Clarify Decades-Old Procedural Takings Issue

    The U.S. Supreme Court recently agreed to hear a case concerning a Pennsylvania property owner's struggle to get state and federal courts to hear her claim that the government has unconstitutionally taken value from her land, and lawyers say the decision is likely to clarify a murky procedural area that for decades has resulted in delays and additional costs for real estate projects across the country.

  • March 13, 2018

    Daily Mail Owner Nabs $205M In Sale Of Real Estate Data Biz

    Media conglomerate Daily Mail and General Trust has agreed to sell its real estate data and software business to technology-focused investment firms Silver Lake and Battery Ventures for $205 million, the company said Tuesday.

  • March 13, 2018

    Jury Convicts Ex-Cuomo Aide In Mixed Bribery Case Verdict

    A Manhattan jury on Tuesday convicted Joe Percoco, New York Gov. Andrew Cuomo's former “right-hand man” in Albany, of three of six corruption counts he faced, ending the marathon federal bribery trial with a mixed verdict for him and three co-defendants.

  • March 12, 2018

    NY's Sheldon Silver, Feds Fight To Shape 2nd Graft Trial

    Attorneys for disgraced former New York lawmaker Sheldon Silver and prosecutors traded barbs Friday ahead of his April retrial on corruption charges, with the former New York State Assembly speaker claiming that prosecutors misled jurors on the law the first time around.

  • March 12, 2018

    SEC Bars Immigration Atty, Firm For EB-5 Fraud Scheme

    The U.S. Securities and Exchange Commission on Monday imposed a full associational and penny stock bar against attorney Hui Feng and his law firm months after a California federal judge found them liable for defrauding Chinese nationals looking to obtain visas.

  • March 12, 2018

    Negligence Obvious In Elevator Injury Case, NJ Justices Told

    A New Jersey woman who sued after being struck by an elevator door in her Hackensack condominium community urged the state Supreme Court on Monday to revive her personal injury claims, telling the justices that the equipment’s alleged malfunction was evidence enough to support her negligence allegations against the condo association and others.

  • March 12, 2018

    Judge Rejects Breitburn Ch. 11 Plan But Gives Path Forward

    Breitburn Energy Partners LP moved closer to exiting bankruptcy on Monday following a recent stumble, after the debtor pledged to quickly correct a hard-fought Chapter 11 plan that was narrowly shot down by a New York bankruptcy court just days before.

  • March 12, 2018

    Bon-Ton Gets Final OK On $725M DIP, Bidding Procedures

    Bankrupt department store chain Bon-Ton Stores Inc. received final bankruptcy court approval Monday in Delaware for its $725 million debtor-in-possession financing package and its plans to receive bids for its assets as a going concern.

  • March 12, 2018

    Airbnb, HomeAway Can't Halt Santa Monica Licensing Law

    A California federal judge on Friday rejected Airbnb and HomeAway’s bid to stop enforcement of a Santa Monica ordinance requiring residents using the home-sharing websites to be licensed, rejecting arguments the law violates the California Coastal Act, the First Amendment and the federal Communications Decency Act.

Expert Analysis

  • How Bank Secrecy Act Affects Lending To Foreign Borrowers

    Kevin Kim

    U.S. real estate has become a very attractive investment for overseas investors. For those financial services companies that lend to foreign borrowers, some simple steps added to their underwriting policies can ensure they are not violating the Bank Secrecy Act, says Kevin Kim of Geraci Law Firm.

  • Considerations For Attorneys Using Artificial Intelligence

    Ben Allgrove

    Artificial intelligence tools can empower attorneys to work more efficiently, deepen and broaden their areas of expertise, and provide increased value to clients, which in turn can improve legal transparency, dispute resolution and access to justice. But there are some common pitfalls already apparent in the legal industry, say Ben Allgrove and Yoon Chae of Baker McKenzie.

  • Series

    Judging A Book: Duncan Reviews 'Justice And Empathy'

    Judge Allyson Duncan

    In "Justice and Empathy: Toward a Constitutional Ideal," the late Yale Law School professor Robert Burt makes a compelling case for the undeniable role of the courts in protecting the vulnerable and oppressed​. But the question of how the judiciary might conform to Burt’s expectations raises practical problems​, says U.S. Circuit Judge Allyson Duncan of the Fourth Circuit. ​

  • Eminent Domain In The Wake Of Natural Disasters

    Briggs Stahl

    When states and municipalities rebuild permanent infrastructure following disasters, they may be able to reduce the damages caused by eminent domain by planning carefully. In particular, examining preventative solutions allows more time for planning and designing projects to reduce future damages to owners, says Briggs Stahl of RGL Forensics.

  • NY Decision Opens Door For Yellowstone Injunction Waivers

    Dani Schwartz

    A New York appeals court's recent decision in 159 MP v. Redbridge has the potential to shift the balance of power in commercial landlord and tenant relations toward the landlord, by holding that a waiver of the right to seek a Yellowstone injunction is not void as against public policy, says Dani Schwartz of Wachtel Missry LLP.

  • The Art Of The Litigation Funding Deal

    Julia Gewolb

    As litigation funding becomes more widespread, greater complexity and variability in funding deals are to be expected. All claimants should consider certain key questions on the economics of single-case funding when considering or comparing funding terms, says Julia Gewolb of Bentham IMF.

  • TCJA Will Affect Foreign Investments In US Real Estate

    Brad Wagner

    The Tax Cuts and Jobs Act signed into law last December has significant ramifications for foreign investors utilizing the blocker corporation structure. Moving forward, tax planning and tax projections for the life of a deal will be required to minimize income taxes, say Brad Wagner and Justin Wood of Wagner Duys & Wood LLLP.

  • Smart Contracts Need Smart Corporate Lawyers

    Matthew O’Toole

    Given the operational and security risks involved, and the substantial digital asset values transacted, the rise of distributed ledger technology and smart contracts will create new opportunities and responsibilities for transactional lawyers, say attorneys with Potter Anderson Corroon LLP.

  • DC Circ. CFPB Decision Is A Big Win For Industry

    Joseph Palmore

    In PHH v. Consumer Financial Protection Bureau, the D.C. Circuit recently held that the structure of the CFPB is constitutional. The U.S. Supreme Court will likely have the last word on the separation-of-powers issue, but the D.C. Circuit's holdings on the Real Estate Settlement Procedures Act and fair notice will likely stand, say attorneys with Morrison & Foerster LLP.

  • How To Fix Your Broken Client Teams

    Mike O'Horo

    Law firms claim they create client teams to improve service. Clients aren’t fooled, describing these initiatives as “thinly veiled sales campaigns.” Until firms and client teams begin to apply a number of principles consistently, they will continue to fail and further erode clients’ trust, says legal industry coach Mike O’Horo.