Real Estate

  • February 1, 2018

    Fed. Circ. Affirms Alice Ax Of Real Estate Search Patents

    The Federal Circuit on Thursday upheld a lower court's decision invalidating under the U.S. Supreme Court's Alice decision two Real Estate Alliance Ltd. patents on searching for real estate using a computer, finding that one patent was related to a patent that was previously ruled to be patent-ineligible.

  • February 1, 2018

    Allen Matkins Guides Kennedy Wilson's $93M Multifamily Buy

    Allen Matkins Leck Gamble Mallory & Natsis LLP represented Kennedy Wilson on its purchase of a pair of multifamily properties in the Salt Lake City area for a combined $92.5 million, according to an announcement from the Beverly Hills, California-based real estate investment company on Thursday.

  • February 1, 2018

    Water District Shielded From Flooding Suit, Texas Panel Says

    A Texas water district won't have to face a lawsuit brought by about 50 property owners alleging it was responsible for flooding to their homes and related injuries after a state appellate court on Wednesday determined the governmental entity was immune from the claims, reversing a trial court's decision.

  • February 1, 2018

    Real Estate Rumors: Cai Kui, BNY Mellon, Blackstone

    The family office of Chinese investor Cai Kui is reportedly close to a deal to buy a hotel portfolio from MassMutual for as much as $800 million, Bank of New York Mellon will reportedly sublet its space at Brookfield Place in New York, and Blackstone is said to have picked up a three-building complex in California for $42 million.

  • February 1, 2018

    Real Estate Moguls On The Move

    CBRE, HFF, Colliers and Coldwell Banker were among a variety of real estate firms that had hires or departures in the first month of 2018.

  • February 1, 2018

    Kleinberg Kaplan Sees Tricky NYC Museum Buy To Finish Line

    The Children's Museum of Manhattan recently finalized a $45 million purchase of a former church on Central Park West that it will be its new home, and the museum got that deal — which included numerous complex financing and land-use elements — done with the help of Kleinberg Kaplan Wolff & Cohen PC.

  • January 31, 2018

    11th Circ. Scolds Winn-Dixie Rivals' Attys In Exclusivity Row

    The Eleventh Circuit took counsel for Big Lots and Dollar General to task in a published opinion Wednesday, blasting the attorneys for convincing a district court to shirk the appeals court’s mandate in Winn-Dixie's suit accusing rival store operators of violating grocery exclusivity clauses.

  • January 31, 2018

    CFPB Constitutional Fight Faces Tough Supreme Court Path

    Although mortgage servicer PHH Corp. lost its constitutional challenge to the Consumer Financial Protection Bureau's structure on Wednesday at the D.C. Circuit, the path forward for any appeal to the U.S. Supreme Court remains extremely complicated, experts say.

  • January 31, 2018

    Plea Deal For Ex-Ill. Judge's Accomplice Calls For Prison

    The co-conspirator of a $1.4 million mortgage fraud scheme orchestrated by a former Cook County judge faces up to three years in prison and will pay $675,000 in restitution, according to her plea deal filed in Illinois federal court Tuesday.

  • January 31, 2018

    NJ City Resolves Bias Suit Over Mosque Plan

    Bayonne, New Jersey, officials will pay $400,000 to resolve an Islamic group’s religious discrimination claim that the city rejected its plan to build a mosque there due to the community’s anti-Muslim animus, according to a settlement agreement filed in federal court Wednesday.

  • January 31, 2018

    Deals Rumor Mill: CBS, Liberty Mutual, Avast Software

    The CBS Corp. board is reportedly discussing a potential merger with Viacom Inc. on Thursday, Liberty Mutual is shopping around its private equity and real estate stakes, and Avast Software has tapped banks for its London initial public offering.

  • January 31, 2018

    Resorts' Suits Against Timeshare Exit Firms Heat Up

    A Tennessee federal judge presiding over timeshare giant Diamond Resorts International Inc.’s breach of contract lawsuit against a group of exit companies has given them more time to answer Diamond’s claims, as similar cases in multiple states advance against law firms that represent timeshare owners seeking to break their contracts.

  • January 31, 2018

    Witness Atty Slams Cuomo Aide’s Bid To Bar Him From Trial

    The attorney for a key prosecution witness in the corruption trial of a former top aide to New York Gov. Andrew Cuomo lambasted a request from the former aide’s lawyer to have him barred from attending the trial, telling a New York federal judge that the request is “extraordinary and unwarranted.”

  • January 31, 2018

    Real Estate Rumors: BlitzLake, Champion, Brooklyn Hospital

    BlitzLake Partners could fetch $60 million or more with the sale of an Illinois apartment building that includes a Target store, Champion Real Estate has reportedly dropped $33.6 million on a pair of California apartment properties, and Brooklyn Hospital is said to have leased 70,000 square feet in the Fort Greene neighborhood.

  • January 31, 2018

    Toys R Us Ch. 11 Landlord Deal Could Be Model For Retailers

    In a grand bargain covering some attorney fees for its commercial landlords, Toys R Us Inc. bought more time to decide which store leases it wants to reject in bankruptcy, creating what some experts say could be a practical template for other large retailers abruptly forced into filing for Chapter 11.

  • January 31, 2018

    Singapore REIT Cache Pays $154M For Aussie Warehouses

    Singapore real estate investment trust Cache Logistics Trust on Wednesday said it will pay AU$191 million ($154 million) to acquire nine warehouses in eastern Australia in a deal that nearly doubles its holdings in the country.

  • January 31, 2018

    Wells Fargo Beats NJ Fraud Suit Over Foreclosure Action

    A New Jersey appeals court found Wednesday that a widow shouldn’t have filed suit claiming that Wells Fargo Home Mortgage improperly sought a final foreclosure judgment, saying in a published decision that she should have raised the allegation in the company's previous foreclosure action and can’t now litigate the issue in another forum.

  • January 31, 2018

    US Bank Mortgage Trust Investors Denied Cert. In $2B Suit

    A Manhattan federal judge on Wednesday said that class certification is not appropriate for investors hoping to stick trustee U.S. Bank NA with the bill for $2 billion of financial crisis-era losses in 25 home mortgage trusts, finding that would-be members in large part bought in at a discount after the fact and were not injured.

  • January 31, 2018

    Paul Weiss, Debevoise Guide $2.4B Building Products Deal

    Building products company Ply Gem Holdings Inc. has agreed to be acquired by private equity firm Clayton Dubilier & Rice LLC in a $2.4 billion cash deal steered by Paul Weiss Rifkind Wharton & Garrison LLP and Debevoise & Plimpton LLP, the companies said Wednesday.

  • January 31, 2018

    CFPB Structure Is Constitutional, DC Circ. Says In Reversal

    An en banc panel of D.C. Circuit judges on Wednesday overturned a ruling that would have allowed President Donald Trump to fire the Consumer Financial Protection Bureau’s director at will, preserving the agency's current structure and setting up a potentially messy process before the U.S. Supreme Court.

Expert Analysis

  • Series

    40 Years Of FCPA: A View From The Monitorship Trenches

    Gil Soffer

    There have been many articles on the corporate monitor selection process, but you will find little guidance on how to prepare yourself for a job that has few parallels. There are three key lessons I have learned over the course of a Foreign Corrupt Practices Act monitorship still in progress, says Gil Soffer of Katten Muchin Rosenman LLP.

  • Court Wrongly Disallows Lender's Post-Bankruptcy Legal Fee

    Michael Cook

    At least five circuit courts have taken a sensible approach to allowing an undersecured creditor’s claim for legal fees. But there is still no uniformity in the lower courts, as evident in a North Carolina federal court's recent decision in Summitbridge v. Faison, says Michael Cook of Schulte Roth & Zabel LLP.

  • Series

    40 Years Of FCPA: The Untold Story Of The Resource Guide

    Charles Duross

    Much has been written about the 2012 "Resource Guide to the U.S. Foreign Corrupt Practices Act," but no one has talked about the behind-the-scenes work that produced the guide — until now, say Charles Duross, former chief of the FCPA Unit at the U.S. Department of Justice, and Kara Novaco Brockmeyer, former chief of the FCPA Unit at the U.S. Securities and Exchange Commission.

  • A Quick Look At California's New Housing Bills: Part 2

    Andrew Faber

    California's new housing bills are a step toward addressing the state's affordable housing crisis, but they are not without several deficiencies. There is a distinct lack of state funding for housing, and the bills do not provide for additional California Environmental Quality Act categorical exemptions for housing projects, say Andrew Faber and Michael Branson of Berliner Cohen LLP in the final part of this article.

  • Series

    40 Years Of FCPA: A Journey From Conviction To Dismissal

    Janet Levine

    The twist in the Lindsey Manufacturing Foreign Corrupt Practices Act case was the truncated time in which we prepared. Having refused to waive their rights to a speedy trial, our clients took control of the case — this, along with the compressed time frame, forced the government to make errors, say Janet Levine, Sima Namiri-Kalantari and Megan Weisgerber of Crowell & Moring LLP.

  • A Quick Look At California's New Housing Bills: Part 1

    Andrew Faber

    In late September, California Governor Jerry Brown signed into law 15 bills encompassing the California Legislature's package aimed at addressing the state's severe housing crisis. While these bills alone will not solve the housing crisis, experts and legislators agree that their enactment is a significant first step, say Andrew Faber and Michael Branson of Berliner Cohen LLP.

  • Series

    40 Years Of FCPA: The Siemens Lesson — Tillerson Is Right

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    Since its whopping $800 million Foreign Corrupt Practices Act settlement in 2008, Siemens cleaned up — and it has “cleaned up” in its long-standing competition with General Electric. How? As Secretary of State Rex Tillerson reportedly told President Donald Trump, you don’t need to pay bribes to succeed in international business, says Peter Y. Solmssen, former general counsel of Siemens.

  • Playing Against A Stacked Deck: Tenant Leasing Strategies

    Mark Foster

    It is a myth that landlord form leases are standard and not negotiable. Though corporate tenants may feel that they do not have the time or inclination to negotiate leases, they should be proactive in identifying and undoing the landlord traps found in form leases, says Mark Foster of Snell & Wilmer LLP.

  • Series

    40 Years Of FCPA: The Rise In International Enforcement

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    The 2008 Siemens matter — then the largest sanction ever imposed in a Foreign Corrupt Practices Act enforcement action — set the stage for future cross-collaboration in global anti-corruption enforcement, say Cheryl Scarboro, former chief of the FCPA Unit at the U.S. Securities and Exchange Commission, and Diana Wielocha of Simpson Thacher & Bartlett LLP.

  • Series

    40 Years Of FCPA: Highlights From The 1st Corporate Trial

    Robert Feldman

    The Foreign Corrupt Practices Act case of U.S. v. Harris Corp. was tried in March 1991 — so long ago that pretty much only the parties and counsel remember it. With a smile, I’ve just about given up correcting people who say their case is "the only FCPA case ever to be tried,” says Robert Feldman of Quinn Emanuel Urquhart & Sullivan LLP.