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Real Estate

  • May 8, 2018

    'Big 5' Investors Sentenced For Foreclosure Auction Rigging

    A California federal judge on Tuesday sentenced the so-called “Big Five,” a group of real estate investors who rigged bids in Bay Area foreclosure auctions, handing out prison terms that were less than what prosecutors sought as he weighed personal stories against the need to deter crime.

  • May 8, 2018

    Bank Exec's Bias Complaints Got Her Fired, Suit Says

    A former top executive at China Merchants Bank claims she was illegally fired for raising internal concerns about the bank engaging in discriminatory practices, including limiting its participation in a Harlem real estate deal because of the area's African-American population, according to a New York federal court suit filed Tuesday.

  • May 8, 2018

    Sheldon Silver Never Asked For Kickbacks, Jury Hears

    A real estate tax attorney testified Tuesday that former New York State Assembly Speaker Sheldon Silver never asked him for referral fees for the work the once-powerful Democratic politician brought him from big New York City developers, fees that federal prosecutors say amount to illegal kickbacks. 

  • May 8, 2018

    Judge Mulls Whether Initial Coin Offerings Are Securities

    A Brooklyn federal judge on Tuesday heard two starkly different takes on whether digital tokens issued in an allegedly fraudulent initial coin offering were securities subject to regulation by the U.S. Securities and Exchange Commission, the first time the contentious argument has been put before a federal court.

  • May 8, 2018

    Real Estate Rumors: Hudson's Bay, Ashkenazy, David Katz

    Private equity-backed Hudson's Bay and RioCan REIT are reportedly selling a Vancouver store for $521 million, an Ashkenazy Acquisition venture is said to be buying a Manhattan hotel for $600 million, and TL Management's David Katz has reportedly bought a Florida skilled nursing facility for $30.75 million.

  • May 8, 2018

    Gov't Fights Foreclosure Law Firm’s Bid To Ax FCA Claims

    The government on Monday defended its False Claims Act claims against New York mortgage foreclosure law firm Rosicki Rosicki & Associates PC and two related companies over allegations that they caused Fannie Mae to pay millions of dollars in reimbursement claims for fraudulently inflated foreclosure expenses.

  • May 8, 2018

    Timeshare-Exit Law Firm Seeks To Escape RICO Suit

    A law firm accused of encouraging customers of timeshare resort developer Club Exploria LLC's to back out of their contracts urged a Florida federal court to toss the developer's suit alleging violations of the Racketeer Influenced and Corrupt Organizations Act, saying the company is trying to impose a "chilling effect" on the firm's legal practice.

  • May 8, 2018

    Sharestates Launches $300M Fund, New Equity Platform

    Online real estate investment platform Sharestates on Tuesday said it has launched a $300 million fund aimed at bolstering the funding power of investors and simultaneously unveiled its new equity platform, Syndicate Profile.

  • May 8, 2018

    Dexus Offloads Aussie Parking Facility In $65M Deal

    Australia-based real estate firm Dexus on Tuesday said it will sell a Melbourne car parking facility associated with a pair of multistory office buildings in the city for AU$87.1 million ($64.9 million).

  • May 8, 2018

    Landlord Says Insurer Must Cover Suits Over Stabbings

    An insurer’s claim that its policy with a Houston apartment building owner doesn’t cover damages resulting from litigation filed by the families of two men a building security guard stabbed to death is based on extrinsic evidence and only partial facts, the building’s owners are arguing in Texas federal court. 

  • May 8, 2018

    Titan Of The Plaintiffs Bar: Cohen Milstein's Steven Toll

    Cohen Milstein Sellers & Toll PLLC’s Steven Toll racked up a series of multimillion-dollar settlements in 2017, including a $175 million shareholder deal with BP over the Deepwater Horizon spill and $165 million in a mortgage-backed securities class action, landing him among Law360's 2018 Titans of the Plaintiffs Bar.

  • May 8, 2018

    Korean Investment Firm Pays $130.5M For GSK's Philly HQ

    The investment management arm of financial services company Korea Investment Holdings Co. Ltd. on Tuesday said it will pay $130.5 million to take over the current home of GlaxoSmithKline PLC's U.S. corporate headquarters in Philadelphia.

  • May 8, 2018

    Construction Law: To Specialize Or Not To Specialize

    Whether they’re committed to construction law or also engaged in other practice areas, lawyers will go to the mat for the relative merits of their chosen path, but the key to a healthy construction practice likely comes from a willingness to admit one’s weaknesses and seek help from others in times of need.

  • May 8, 2018

    Perkins Coie Adds Veteran Litigator To Dallas Office

    A name partner from the former Gruber Hail Johansen Shank LLP has joined Perkins Coie LLP’s Dallas office in the firm’s commercial litigation practice, where he’ll continue to represent financial services, health care, energy and real estate clients.

  • May 7, 2018

    Developers Angered By Ex-NY Pol's Atty Fee Cut, Jury Hears

    Major league New York City real estate developers were incensed upon learning that former New York State Assembly Speaker Sheldon Silver was secretly taking a cut of legal fees they paid for tax work, jurors heard Monday, with one property baron deeming the practice “unseemly.”

  • May 7, 2018

    Pipeline Protesters Leave Tree Stands After Contempt Ruling

    A mother and daughter on Saturday came down from tree stands they had occupied for more than a month to fight Mountain Valley Pipeline LLC’s $3.5 billion natural gas pipeline, hours after a Virginia federal judge held them in civil contempt for interfering with the developer’s work on the project.

  • May 7, 2018

    Pa. Pipeline Row Shows Enviro Rights Amendment Still Murky

    A recently advanced effort to hold a Sunoco Inc. unit liable for violations of the Pennsylvania Constitution over a controversial pipeline project highlights what attorneys say is continued uncertainty around the so-called environmental rights amendment, which was reinvigorated by the state’s Supreme Court last year.

  • May 7, 2018

    8th Circ. Won't Disturb Rulings In Bakken Drilling Row

    The Eighth Circuit said Monday there was nothing flawed about a North Dakota federal judge's ruling in favor of a drilling property owner over a soured Bakken Shale partnership with a petroleum company, including his refusal to second-guess a jury verdict on one of the company's claims.

  • May 7, 2018

    Ashurst Steers $4.1B Bond Deal For Record Real Estate Buy

    Ashurst represented investor consortium CHMT Peaceful Development Asia Property Ltd. in connection with its $4.1 billion issuance of bonds to finance the entity's recent acquisition of a Hong Kong tower for HK$40.2 billion ($5.1 billion), an amount Ashurst said Monday was the most ever paid for a single building.

  • May 7, 2018

    Real Estate Rumors: Deutsche Bank, Fosun, Landstar

    Deutsche Bank is reportedly moving to 1.2 million square feet in Midtown Manhattan, a Fosun International venture is said to have scored a $350 million construction loan for a New York condo and retail project, and an entity tied to a Landstar Development executive has reportedly sold a phase of a Florida development site for $95 million.

Expert Analysis

  • Unique Office-Leasing Issues For Tech Companies: Part 1

    Excerpt from Lexis Practice Advisor
    Daniel Suckerman

    When negotiating leases for office space, technology companies should pay particular attention to use and operations issues like permitted use provisions, density limits and building services and amenities, says Daniel Suckerman of Lowenstein Sandler LLP.

  • Changes To Rule 23 Are Coming, Are You Prepared?

    Niki Mendoza

    Proposed amendments to the Federal Rules of Civil Procedure Rule 23, which governs class actions, are set to take effect on Dec. 1, 2018, pending approval. The amendments would significantly alter class action litigation procedure from notice to settlement, says Niki Mendoza of Garden City Group LLC.

  • How To Negotiate Wireless Infrastructure Agreements

    Walt Sapronov

    When negotiating shared wireless infrastructure contracts in large venues, sponsors should pay close attention to technology specifications, upgrades and interference protection, say Walt Sapronov and Kenneth Klatt of Sapronov and Associates PC.

  • Tax Planning In The Age Of Tax Reform: Part 2

    Ellen McElroy

    Businesses face challenges in implementing the Tax Cuts and Jobs Act, especially given its size and scope and the ambiguities that remain regarding its application. Unfortunately, if administrative guidance and technical corrections are not issued soon, companies may lose valuable rights, say attorneys with Eversheds Sutherland LLP.

  • Lessons From Recent Developers' Win In Fla. Condo Case

    Glen Waldman

    Prive Developers prevailed in its claim against William Island Property Owners' Association by successfully showing that the stigma of litigation caused damages due to increased financing costs, additional construction costs, and additional sales and marketing costs, say attorneys with Waldman Barnett PL and Barry Mukamal of KapilaMukamal LLP.

  • What To Expect From DOJ Shift In Marijuana Enforcement

    Gerald Sachs

    Under the U.S. Department of Justice's new marijuana enforcement strategy, the DOJ is unlikely to begin prosecuting marijuana growers and distributors who are operating in compliance with state law. The DOJ will likely prosecute the most egregious violators of state law, say Gerald Sachs and Evan Shea of Venable LLP.

  • Lawyering A La Carte: Unbundled Dispute Resolution Services

    David Wallace

    There's no reason for limiting unbundled legal services to family law or even pro se litigants. Wider adoption, especially by litigators, presents an opportunity to correct law's distribution and pricing problem, to make justice practically available to all, and to dethrone litigation as the "sport of kings," says New York-based trial lawyer David Wallace.

  • Bitcoin: A New, Volatile Asset In Bankruptcy

    Erin Jane Illman

    Given the mainstream use of bitcoin and the “staying power” of this cryptocurrency, bankruptcy practitioners need to prepare to see bitcoin as part of the assets in future bankruptcy cases. The volatility of bitcoin value, however, will require bankruptcy courts and parties to come up with creative solutions, say Erin Illman and Robert Cox of Bradley Arant Boult Cummings LLP.

  • You’re Perfect, Now Change: Perfectionism Hurts Lawyers

    Peter Norman

    Like medical professionals, lawyers often resist policies to reduce errors due to the culture of perfectionism that permeates the industry. Autonomy is key to the legal professional's prestige and the outward demonstration of competence is key to maintaining autonomy, says Peter Norman of Winnieware LLC.

  • In Lakeridge, Concurring Justices Take The Spotlight

    Steven Wilamowsky

    The U.S. Supreme Court last week held in Village at Lakeridge that the appropriate standard for determining nonstatutory insider status in bankruptcy is the clearly erroneous standard that was applied by the Ninth Circuit. But the concurring opinions, which address an issue that was not before the court, appear to be more significant, say Steven Wilamowsky and Aaron Krieger of Chapman and Cutler LLP.