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Real Estate

  • October 5, 2018

    3rd Circ. Puts Chem Co. On Hook For Past Cleanup Costs

    The Third Circuit has found that current owners of contaminated properties can be held liable for prior environmental remediation costs, handing a victory Friday to the commonwealth of Pennsylvania in its $900,000 cleanup row with a chemical company.

  • October 5, 2018

    Dayton Street Scores $32M Loan For Ill. Logistics Buy

    Dayton Street Partners LLC has landed $31.5 million in financing for its recent purchase of a logistics property in Alsip, Illinois, according to an announcement on Friday from Dayton's Street's broker on the deal, Holliday Fenoglio Fowler LP.

  • October 5, 2018

    Chesapeake Beats Ohio Class Cert. As Attys Criticized

    An Ohio federal judge on Friday denied a bid to certify a class action brought in pursuit of allegedly underpaid oil and gas royalties, calling into question the adequacy of the work by the attorneys pursuing the case against a Chesapeake Energy Corp. unit..

  • October 5, 2018

    Verizon OK'd For Cell Tower, Ending Dispute With Mass. Town

    A Massachusetts federal court approved a settlement sought by Verizon when it overturned a Massachusetts town’s zoning board’s decision to deny the company an application to build a cell tower and gave it a special permit to construct the tower.

  • October 5, 2018

    Holland & Knight Adds Real Estate Finance Pair From Seyfarth

    Holland & Knight LLP has added two former Seyfarth Shaw LLP real estate finance attorneys to the firm's Boston office, picking up negotiators specializing in loans and other financing transactions with experience on major projects across the country.

  • October 5, 2018

    Feds Seek $1.8M From Disbarred Ex-Fugitive Atty Over Fraud

    Federal prosecutors pressed Friday for a disbarred New York attorney, who had been a fugitive for 20 years, to forfeit the nearly $1.8 million he admitted to stealing through two bayfront-development scams in Massachusetts, requesting to draw down his retirement account from Hunton Andrews Kurth LLP decades after the firm fired him.

  • October 5, 2018

    2 Consumer Groups Hit Conn. Bank With Redlining Suit

    Connecticut-based Liberty Bank violated federal housing law by systematically discriminating against African American and Latino residential mortgage applicants by denying them credit at much higher rates than white applicants, according to a complaint filed by two consumer groups Thursday in federal court.

  • October 5, 2018

    Atty Looks To Check Out Of Timeshare-Exit Contract Suit

    A lawyer who assisted a firm specializing in helping customers exit timeshare deals has asked a Florida federal court to dismiss him from a resort company’s suit against the exit firm, arguing that he merely wrote "boilerplate" letters as an outside contractor and shouldn't be included in the suit.

  • October 5, 2018

    Asset Management Firm CEO Charged With $16M Fraud

    Virginia federal prosecutors have charged the CEO of a “self-described asset management firm” with swindling investors out of at least $16 million by misrepresenting that he would put the funds toward a real estate investment near the Silver Line of the Washington, D.C., Metro, the prosecutors said in a Friday statement.

  • October 4, 2018

    Sedgwick’s Ch. 11 Filing 'A Success Story,' Judge Told

    A California bankruptcy judge on Thursday noted the “astonishing amount” of work Sedgwick LLP did prior to its Chapter 11 filing, after an attorney for the now-defunct firm touted it as a bankruptcy “success story” — all its employees have been paid and found new jobs since the firm shuttered in January. 

  • October 4, 2018

    Bankrupt Verity Health Fights Leases, Citing $25M Loss

    Nonprofit hospital chain Verity Health asked a California bankruptcy court on Wednesday to be allowed to cut its ties to a sports medicine practice, saying the contracts would cost the chain $25 million over the next nine years.

  • October 4, 2018

    Bank Units Urge Judge To Deny FDIC A Redo In Colonial Suit

    Wells Fargo and First Horizon units told a New York federal judge on Wednesday that the Federal Deposit Insurance Corp. is leaning on a suspect state regulator policy statement as part of a misguided effort to salvage dismissed claims against them in a suit over the sale of residential mortgage-backed securities to now-defunct Colonial Bank.

  • October 4, 2018

    7th Circ. Affirms $500M Tax Hit Against Exelon

    An energy company must pay over $500 million in taxes and penalties because it bore none of the “burdens or indicia” of ownership in several coal plants that were the basis of its claim for a Section 1031 like-kind exchange, the Seventh Circuit ruled Wednesday, upholding a decision by the U.S. Tax Court.

  • October 4, 2018

    Cushman Appeals Attorneys' Fees On Top Of Age Bias Verdict

    Cushman & Wakefield Inc. asked the First Circuit on Thursday to overturn $280,000 in attorneys' fees that a Massachusetts federal judge handed a former employee, adding to the real estate company's appeal of a jury verdict finding the company fired the longtime computer engineer because he was aging and awarding him $1.28 million.

  • October 4, 2018

    Key Firms Aided Top Q3 Real Estate M&A Deals

    ​More than a dozen law firms landed work on the 10 largest real estate mergers and acquisitions matters of the third quarter, with two deals surpassing the $10 billion mark and another seven transactions coming in north of $2 billion.

  • October 4, 2018

    Becker & Poliakoff Lands Partner Trio In Fla. Offices

    A trio of Florida attorneys whose experience spans matters related to community associations, development, zoning and land use, as well as real estate transactions, has joined Becker & Poliakoff PA as shareholders, the firm has announced.

  • October 4, 2018

    Couple Asks 2nd Circ. To Rethink Tax Residency Ruling

    A couple has asked the Second Circuit to reconsider a decision barring them from challenging the husband’s state of domicile for tax purposes, saying it would make him “doomed to always be a New York resident” even though he relocated to Florida.

  • October 4, 2018

    Real Estate Rumors: Priderock, Invesco, Welltower

    Priderock Capital Partners has reportedly dropped $98 million on two Florida apartment complexes, Invesco is said to have paid $760 million for an 80 percent stake in five New York residential and retail buildings and real estate investment trust Welltower has reportedly sold a Florida health care center for $12.6 million.

  • October 3, 2018

    Deutsche Bank Investors Win Cert. In Preferred Securities Suit

    A New York federal judge granted class certification on Tuesday in a suit accusing Deutsche Bank AG of having misled investors in offerings of preferred securities during the implosion of the U.S. housing bubble, rejecting the bank's criticisms of the lead plaintiffs and their lawyers.

  • October 3, 2018

    Pa. High Court To Review Squatter's Rights Dispute

    The Pennsylvania Supreme Court agreed Tuesday to review a decision that only the state, not a city, can claim immunity from squatter's rights in a dispute between the city of Philadelphia and a resident who claims a right to unused land near his home.

Expert Analysis

  • 10 Ways To Prevent E-Discovery Woes

    Debbie Reynolds

    E-discovery is not easy, but employing these 10 strategies may help minimize future headaches, say Debbie Reynolds and Daryl Gardner of EimerStahl Discovery Solutions LLC.

  • Why Courts Should Apply Escobar In Criminal Cases

    Antonio Pozos

    In the two years since the U.S. Supreme Court's Escobar decision set off waves of litigation over materiality in civil False Claims Act cases, it has largely failed to gain traction in criminal fraud prosecutions. However, the ruling has broad implications in criminal law, say Antonio Pozos and Mark Taticchi of Drinker Biddle & Reath LLP.

  • Common Offsite Problems Arising From Triple-Net Leases

    Andrew Hodgson

    In the past few years, landlords, investors and developers have shown increased interest in triple-net ground leases of peripheral properties surrounding retail centers. However, they should consider the issues that can pop up when a ground leased parcel is part of a larger commercial development, says Andrew Hodgson of Husch Blackwell LLP.

  • 4 Key Components To New Firm Partnership Agreements

    Russell Shinsky

    A well-drafted partnership agreement protects a law firm's founders, establishes a process for new and outgoing partners, and sets forth guidelines for navigating conflict along the way. Startup firms can begin with something less complex, but there are important elements that every agreement should include, says Russell Shinsky of Anchin Block & Anchin LLP.

  • Why Lead Paint Litigation May Go To The Supreme Court

    Catherine Connors

    The U.S. Supreme Court has been asked to review ConAgra Grocery Products Co. and NL Industries v. People of California, a case that concerns whether companies that manufactured lead paint long ago can still be held liable for creating a public nuisance — and there's a decent chance cert will be granted, says Catherine Connors of Pierce Atwood LLP.

  • Opinion

    Open The Federal Courthouses

    David Oscar Markus

    Forget about cameras, reporters in the Manafort trial were not even permitted in the courtroom with their phones, tablets or computers. That meant no live reporting on Twitter and no emails to the newsrooms with updates. In a world focused on information and news as it happens, this is unacceptable, says trial attorney David Oscar Markus.

  • What White V. Commissioner Says About Partnerships

    Mark Leeds

    The question as to when a person is receiving a share of partnership income or compensation continues to be a vexing issue. It is valuable to consider the U.S. Tax Court's recent holding in White v. Commissioner in the context of the relatively developed body of law to see how private funds can better structure carried interests and management fee waivers, say Mark Leeds and Guoyu Tao of Mayer Brown LLP.

  • IRS Takes Uncharitable View Of Property Donation Deductions

    Ronald Levitt

    In the evolution of the ongoing IRS attack on conservation easements, the cases discussed in this article demonstrate that the IRS will attack charitable gifts of property with contentions of quid pro quo consideration, receipt of enhancement value and the substantial benefit analysis in U.S. v. American Bar Endowment — and the Tax Court appears receptive to such arguments, say Ronald Levitt and Tucker Thoni at Sirote & Permutt PC.

  • Policing Bad Claims In Consolidated Litigation: Part 2

    Danielle Bagwell

    While conducting a pre-suit investigation sufficient to file a lawsuit may seem like a perfunctory enterprise, courts appear increasingly willing to affirm the importance of complying with this requirement — and this issue is particularly ripe in consolidated and multidistrict litigation, say Danielle Bagwell and Anne Gruner of Duane Morris LLP.

  • Opportunity Zones: Spurring Development In Indian Country

    Nicole Elliott

    Among those who should be interested in the new opportunity zone incentive provided by tax reform are tribes that can leverage this incentive to attract investment and reap significant tax benefits, say Nicole Elliott and Kristin DeKuiper of Holland & Knight LLP and Dr. Katy Rossiter of Ohio Northern University.