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Real Estate

  • August 7, 2018

    Fewer Gov't Contractors Suspended, Debarred In 2017

    Suspensions and debarments involving federal contractors decreased “modestly” from 2016 to 2017, with the U.S. Departments of Defense, Homeland Security and Housing and Urban Development carrying out the most related actions, the Interagency Suspension and Debarment Committee said in its latest annual report.

  • August 7, 2018

    Calif. Realty Group Prepares Backup Property Tax Measure

    The California Association of Realtors, doubling down on its efforts to address what it calls an unprecedented housing supply crisis, has submitted to the Attorney General’s Office a 2020 property tax initiative similar to a proposition on this year’s November ballot.

  • August 7, 2018

    Mich. Counties, Cities Seek Nix Of Tribe's Boundaries Suit

    A group of Michigan cities and counties have urged a federal court to nix the Little Traverse Bay Bands of Odawa Indians' lawsuit accusing the state of failing to recognize the boundaries of its reservation, saying the tribe is trying to rewrite years of history.

  • August 7, 2018

    Philippines To Cancel Lease On $1.5B Manila Casino Project

    Philippines President Rodrigo Duterte will cancel the lease of a $1.5 billion casino and resort development to be built by Landing International Development Ltd. in Manila's Entertainment City precinct, his spokesperson said Tuesday.

  • August 7, 2018

    5th Circ. Says Texas Fraudster Was Tried In Correct Venue

    A Fifth Circuit panel ruled Monday that a Texas man convicted of making false entries in a Fair Housing Agency loan application should indeed be tried in the Eastern District of Texas, deciding a seven-year venue fight in “what should have been a straightforward prosecution."

  • August 6, 2018

    HSBC Gets Stay Of RMBS Indemnification Suit

    A New York federal judge has stayed Royal Park’s proposed class action accusing HSBC of improperly funding its defense in a residential mortgage-backed securities trustee suit using money from the same trusts it’s alleged to have mismanaged while denying the National Credit Union Administration’s bid to intervene in the matter.

  • August 6, 2018

    CBRE Reaches Deal In $157M Embezzlement Class Action

    A class of real estate investors has reached an agreement with CBRE and one of its employees to settle claims that the property management firm aided executives from Cabot Investment Properties LLC in embezzling $157 million, leading to the cancelation Monday of an upcoming jury trial.

  • August 6, 2018

    Red Stone Equity Closes $144M Real Estate Fund

    Red Stone Equity Partners LLC has closed a $144 million Low Income Housing Tax Credit fund, proceeds from which will be used to finance construction or renovation of affordable housing properties across the United States, according to an announcement on Monday from Red Stone Equity.

  • August 6, 2018

    Chevron Slams Saudis' 'Sham' $18B Award In Dismissal Bid

    Chevron Corp. on Sunday slammed a California federal lawsuit filed by two Saudi families who aim to confirm an $18 billion arbitration award against the company, calling the arbitration a "sham" and citing a criminal investigation into the Egyptian arbitration center as one reason the judge should toss the case.

  • August 6, 2018

    Real Estate Rumors: Blackstone, Mautner-Glick, Bank OZK

    Blackstone is reportedly leasing out roughly 25,000 square feet in Chicago to e-commerce software firm Shoprunner, Mautner-Glick is said to have sold six New York buildings to a developer for $232 million and Bank OZK has reportedly loaned $28.48 million for a Florida Hilton project.

  • August 6, 2018

    2nd Circ. Revives Some Counts Against Convicted Ex-NY Sen.

    Former New York State Senate Minority Leader John Sampson, who is accused of embezzling funds held in escrow for real estate transactions, should face revived embezzlement allegations and be unable to escape obstruction and lying convictions related to his actions, the Second Circuit said in two orders on Monday.

  • August 6, 2018

    Pa. Justices Order Redo In Residential Drilling Challenge

    In the wake of a major revitalization of Pennsylvania's constitutionally enshrined environmental protections, the state's Supreme Court is ordering a lower court to reconsider its decision upholding a Butler County municipality's ordinance expressly allowing oil and gas drilling in residential and agricultural areas.

  • August 6, 2018

    Firm Sues Disbarred Atty Over 'Misappropriated' Funds

    A Chicago law firm has filed a $5 million suit in state court against a disbarred real estate attorney who allegedly stole client funds during his years at the firm.

  • August 6, 2018

    Landowners Say Cos. Posing As Drillers Took Their Royalties

    A group of Texas landowners have sued several companies for more than $5 million in Texas federal court, claiming the companies' owners posed as legitimate drillers but instead used them as shell companies in a scam to skim a portion of royalty interest in land where legitimate companies were planning exploratory drilling for oil and natural gas.

  • August 6, 2018

    Ore. County Can't Make Airbnb, Others Collect Lodging Tax

    An Oregon federal judge has dismissed a county’s bid to collect transient lodging tax from Airbnb, Homeaway and Expedia, finding the ordinance allowing the taxes to be levied on the companies required voter approval the county had not received.

  • August 6, 2018

    New York Life Lends $131M For NJ Luxury Apartment Tower

    New York Life Real Estate Investors has lent $131 million to Roseland Residential Trust for a luxury apartment tower in New Jersey, according to an announcement on Monday from New York Life.

  • August 6, 2018

    HSBC To Pay US Regulators $765M To Settle Loans Probe

    HSBC Holdings PLC has agreed to pay U.S. regulators $765 million to settle an investigation by the U.S. Department of Justice into its selling of controversial mortgage securities in the years before the financial crisis, the bank revealed in half-year results on Monday.

  • August 3, 2018

    EB-5 Investors Bilked Of $21M In Fla. Hotel Scam, SEC Says

    Two people and their related business entities misappropriated approximately $21 million from foreign investors who sought to obtain green cards through the EB-5 visa program, using cash meant for a hotel project on personal expenses such as payments toward a mansion and a yacht, the U.S. Securities and Exchange Commission alleged in Florida federal court Friday.

  • August 3, 2018

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen a Russian businessman's telecom company forge ahead with a commercial fraud claim against Russia's VTB bank, ED&F Man Capital Markets sue a rival brokerage and U.K. insurer RSA initiate the court process to transfer policies to its new Luxembourg unit. Here, Law360 looks at those and other new claims in the U.K.

  • August 3, 2018

    Texas Justices To Rule On Border Counties’ Taxation Question

    The Texas Supreme Court agreed Friday to take a case in which a chemical company is seeking judgment on jurisdiction to tax commercial piers and docks the company said have been subject to double taxation.

Expert Analysis

  • Series

    From Lawmaker To Lawyer: Prioritizing Is Always Key

    Joe Lieberman

    Today, members of Congress often seem able to blame colleagues of the other party for not getting anything done for their constituents. In law practice, you can’t really blame a bad result for your clients on the lawyers on the other side, says former Sen. Joe Lieberman, D-Conn., of Kasowitz Benson Torres LLP.

  • Limiting Law Firms' Professional Liability Risks: Part 1

    Stuart Pattison

    Corporate law departments are increasingly demanding more concessions from outside legal counsel, and presenting engagement letters that open the door to greater professional and cyber liability exposure for law firms — often beyond the scope of their insurance coverage. Firms must add their own language to engagement letters to limit liability, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.

  • Series

    From Lawmaker To Lawyer: How Congress Affected My Career

    Yvonne B. Burke

    Being a former member of Congress put me in an advantageous position when I approached law firms in the late '70s, at a time when there were few female lawyers, and even fewer African-American lawyers, in major law firms, says former Rep. Yvonne B. Burke, D-Calif., a director of Amtrak.

  • Series

    From Lawmaker To Lawyer: DC Isn't As Bad As You Think

    Norm Coleman

    Popular culture paints the Hill as a place teeming with intrigue, corruption and malicious intent. But in Congress I learned important lessons about respecting people and the work they do, says former Sen. Norm Coleman, R-Minn., of Hogan Lovells.

  • New, Improved Rules For 'High Volatility' Real Estate Loans

    Martin Taylor

    The new Economic Growth, Regulatory Relief and Consumer Protection Act reforms widely unpopular rules relating to high volatility commercial real estate loans, making it easier to reclassify loans as non-HVCRE acquisition, development and construction loans, say Martin Taylor and Jon Nomura of Troutman Sanders LLP.

  • How Trump Will Finance Federal Real Property Projects

    Peter Terenzio

    President Donald Trump plans to facilitate much-needed federal real property projects in part through a $10 billion “mandatory revolving fund.” Although it would provide a viable mechanism for agencies to fund certain infrastructure projects, there are aspects of the revolving fund that are unknown and should be considered, say attorneys with Covington & Burling LLP.

  • Pa. Renter With Out-Of-State Landlord? Add Tax To Your Rent

    Mary Hevener

    Pennsylvania residents who make payments of certain income to nonresident nonemployees, or that pay rent for Pennsylvania property to any nonresident landlords, should comply with new tax requirements beginning on July 1, 2018, or risk liability for the Pennsylvania taxes, penalties and interest due on these payments, say attorneys at Morgan Lewis & Bockius LLP.

  • Series

    From Lawmaker To Lawyer: 6 Things I Learned In Congress

    Charles Gonzalez

    I found that senior members of Congress didn’t have time to mentor younger members. Lawyers — though just as busy as members of Congress — cannot afford to follow this model, says former Rep. Charles Gonzalez, D-Texas, of Ogletree Deakins Nash Smoak & Stewart PC.

  • Real Estate Investors, Quintuple Your Deductions Under TCJA

    Steve Moskowitz

    Tax reform, and specifically Internal Revenue Code Section 199A, has created new planning opportunities for real estate investors and brokers. Although the provision is quite complex, there are huge potential savings available to commercial real estate investors, says Steve Moskowitz of Moskowitz LLP.

  • Opinion

    BigLaw's Associate Salary Model Is A Relic Of A Bygone Era

    William Brewer

    Legal industry compensation practices are once again in the news as BigLaw firms continue to match the new high watermark of $190,000 for first-year associate salaries. The typical model of increasing associate salaries uniformly fails star associates, the firms they work for and, ultimately, the clients they serve, says William Brewer, managing partner of Brewer Attorneys & Counselors.