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Real Estate
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April 18, 2025
Castlelake, Invictus Partner For $2B Residential Loan Venture
Global alternative investment manager Castlelake LP announced that it has formed a partnership with alternative credit asset manager Invictus Capital Partners to invest up to $2 billion in newly originated residential mortgages.
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April 18, 2025
CFPB Mass Layoffs Blocked Again In DC Court
A D.C. federal judge once again halted the layoffs of more than 1,000 employees of the Consumer Financial Protection Bureau, saying at an emergency hearing Friday morning that she needed a full record to determine whether the firings complied with a D.C. Circuit order from last week.
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April 18, 2025
DLA Piper Adds Partner To Investment Funds Practice
Ropes & Gray LLP partner Matt Posthuma has jumped ship to DLA Piper, where he joins the firm's investment funds practice as a partner in its Chicago office.
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April 17, 2025
Judge Warns Rocket Cos. Investor: Seek Cert. At 'Own Peril'
A Michigan federal judge on Thursday said a pension fund trying to take over as lead plaintiff in a suit against mortgage business Rocket Companies Inc. does not need the court's permission to file a renewed class certification motion, but it "does so at its own peril."
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April 17, 2025
Cuban Island Owner Wants $36M In Helms-Burton Case
A Cuban-American man who says he is the rightful heir to an island off the coast of Cuba that was seized by the Communist government asked a Miami jury on Thursday for an award of more than $36 million against Expedia, which the man claims illegally trafficked in the stolen property by offering reservations for resorts on the island through its website.
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April 17, 2025
Naftogaz Wins Enforcement Of $5B Russia Award In France
A French court has signed off on a bid by Ukraine's state-owned oil and gas company to enforce a $5 billion arbitral award it won against Russia after the Kremlin seized its Crimean assets, the company said on Thursday.
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April 17, 2025
Wash. Justices Strike Down Spokane's Homeless Camp Law
The Washington Supreme Court said a voter-approved initiative restricting encampments for homeless people in Spokane is unconstitutional, in an opinion Thursday that said the measure exceeds the scope of local initiative power because it impermissibly "tinkers" with a policy the city had previously adopted.
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April 17, 2025
QXO Prices $500M Offering Connected To $11B Beacon Buy
Building products distribution company QXO Inc. announced the pricing of a stock offering, with plans to raise $500 million, which will be used to finance a portion of its pending $11 billion acquisition of Beacon Roofing Supply Inc.
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April 17, 2025
CFPB Mass Layoffs Resume, Hitting All Corners Of Agency
The Consumer Financial Protection Bureau's acting Director Russell Vought moved Thursday to resume mass firings at the agency, prompting a scramble from its employee union to head off a torrent of pink slips terminating the vast majority of the agency's workforce.
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April 17, 2025
Moderna Says New Drug Plant Riddled With Defects, Mold
Life sciences company Moderna is suing a Massachusetts construction firm over multiple alleged defects in a recently built production facility for one of its experimental cancer drugs, including leaks that led to mold growth so "extensive and pervasive" the entire roof has to be replaced.
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April 17, 2025
Petersen Health Gets Initial OK To Take Votes On Ch. 11 Plan
A Delaware bankruptcy judge on Thursday provisionally approved skilled nursing facility operator Petersen Health Care's bid to send its Chapter 11 liquidation plan out to creditors for voting, months after the company sold off most of its assets.
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April 17, 2025
CFPB Will Cut Examinations By Half In Broad Retreat: Memo
The Consumer Financial Protection Bureau plans to cut back sharply on its policing of nonbank financial firms, slash examinations and pull back on its use of fines as part of a dramatic shift in supervisory and enforcement priorities outlined in a new internal memo.
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April 17, 2025
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen the producers of West End show "Elf the Musical" face a contract dispute, Korean biotech company ToolGen Inc. bring a fresh patents claim against pharma giant Vertex, and ousted car tycoon Peter Waddell bring a claim against the private equity firm that backed his business. Here, Law360 looks at these and other new claims in the U.K.
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April 16, 2025
Philly Housing Agency Seeks Out Of Suit Over Fatal Fire
The Philadelphia Housing Authority on Wednesday urged a Pennsylvania federal court to free it from a lawsuit accusing it of responsibility for a fatal 2022 public housing fire that killed 12 residents, saying administrators of the decedents' estates failed to show that the agency directly caused the fire.
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April 16, 2025
3rd Circ. Punts Mining Co. Document Fight To Ch. 11 Judge
The Third Circuit vacated a Delaware bankruptcy judge's order to unseal records a successor of Essar Steel's U.S. unit is seeking to bolster its antitrust claims against Cleveland-Cliffs, ruling Wednesday that the Chapter 11 judge used the wrong standard.
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April 16, 2025
IBM Sues Insurers Over $900M In Environmental Expenses
IBM has taken several of its excess commercial general liability insurers to New York federal court, arguing that following IBM's coverage settlements with underlying insurers, they are now on the hook for over $900 million in environmental remediation expenses incurred under policies issued between 1961 and 1970.
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April 16, 2025
Interior Transfers 110,000 Acres To Army For Border Security
The U.S. Department of the Interior is transferring 110,000 acres of federal land along the southern border to the U.S. Army to support Border Patrol as part of a sweeping effort by the Trump administration to crack down on illegal immigration.
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April 16, 2025
Fla. Realty Co. Sued Over Home Liens Told To Pay Ch. 11 Bills
A Florida bankruptcy judge on Wednesday said he would approve judgments ordering a realty company sued over predatory listing contracts that effectively acted as liens on homes to pay more than $800,000 in Chapter 11 fees, including to attorneys representing homeowners allegedly duped into signing the agreements.
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April 16, 2025
DOI Blocked From Making Connecticut Tribal Land Moves
A Connecticut federal judge has temporarily barred the U.S. Department of the Interior from placing 80 acres of land claimed by the Mashantucket Pequot Tribal Nation into trust, and scheduled an expedited hearing on the state's request for a longer delay.
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April 16, 2025
Dems Ask GSA To Explain Federal Asset Disposal Plans
Democrats on the House Oversight Committee urged the General Services Administration to explain its moves to list federal properties for disposal, expressing concern about how the agency has identified buildings for sale.
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April 16, 2025
CFPB Defends Bid To Undo Redlining Deal
The Consumer Financial Protection Bureau reiterated Tuesday its bid in Illinois federal court to refund a Chicago-area mortgage lender's redlining settlement, arguing that consumer advocates fighting to keep the deal in place "attack a strawman" and posit "a parade of horribles that have nothing to do with this case."
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April 16, 2025
Mass. High Court Revives BU Contract Suit Against Architect
Massachusetts' highest court ruled Wednesday that a six-year limit on tort claims due to design defects in a construction project under a Boston University athletic field doesn't apply to a contract dispute between the school and an architectural firm that explicitly agreed to cover such costs.
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April 16, 2025
Exxon Urges Justices To Resolve Seized Cuba Property Claim
Exxon Mobil Corp. asked the U.S. Supreme Court to scrutinize a ruling frustrating its attempts to collect damages from Cuban property confiscated decades ago, arguing the Trump and Biden administrations' opposing stances on such lawsuits present a chance for the court to settle the political debate.
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April 16, 2025
Calif. Agency Says Appraisal Co. Discriminated Against Family
The California Civil Rights Department announced it has reached settlements with a Nevada-based appraisal management company and an individual appraiser that allegedly lowballed a Black and Latino family in the Bay Area because of their race.
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April 16, 2025
Jack Nicklaus Granted $1M In Damages After NIL Win
Jack Nicklaus was granted $1 million Wednesday by a New York state court judge for damages incurred as a result of a preliminary injunction that prevented the golf legend from signing new commercial deals during now-dismissed litigation over the use of his name, image and likeness.
Expert Analysis
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Why Secured Lenders Must Mind The Gap In UCC Searches
If not adequately addressed, the Uniform Commercial Code filing indexing gap can interfere with a lender's expected lien priority, but taking appropriate preclosing actions and properly timing searches can eliminate this risk, says Robert Wonneberger at Barclay Damon.
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Striking A Balance Between AI Use And Attorney Well-Being
As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.
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Empathy In Mediation Offers A Soft Landing For Disputes
Experiencing a crash-landing on a recent flight underscored to me how much difference empathy makes in times of crisis or stress, including during mediation, says Eydith Kaufman at Alternative Resolution Centers.
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Series
Being An Artist Makes Me A Better Lawyer
My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.
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Election Outcome Could Reshape Financial Industry
The policies of the next presidential administration and Congress will shape the landscape of financial services in the U.S. — including banking, mortgage, investment and credit services — for years to come, affecting Wall Street investors and aspiring homeowners alike, say Alexander Hecht and Frank Guinta at Mintz.
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How Judiciary Can Minimize AI Risks In Secondary Sources
Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.
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Calif. Ruling Offers Hope For Mitigated Negative Declarations
In Upland Community First v. City of Upland, a California appeals court upheld a warehouse development's mitigated negative declaration over its greenhouse gas emissions thresholds — a rare victory against this type of challenge providing reassurance that such declarations can be upheld, say attorneys at Sheppard Mullin.
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How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
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The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
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There's No Crying In Property Valuation Baseball Arbitration
The World Series is the perfect time to consider how the form of arbitration used for settling MLB salary disputes — in which each side offers competing valuations to an arbitrator, who must select one — is often ideal for resolving property valuation disputes, say Sean O’Donnell at Herrick Feinstein and Mark Dunec at FTI Consulting.
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Navigating Fla.'s Shorter Construction Defect Claim Window
In light of recent legislation reducing the amount of time Florida homeowners have to bring construction defect claims, homeowners should be sure to understand their rights and responsibilities regarding maintenance, repairs and inspections set forth in developer-drafted documents, say Brian Tannenbaum and Nicholas Vargo at Ball Janik.
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Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
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How To Avoid A Costly CPA Limitation Hidden In Most Leases
The lease audit rights clause is a seemingly innocuous provision in most commercial real estate leases that ends up costing tenants millions of dollars each year, as they have unwittingly agreed to retain only an accountant to investigate and settle financial issues, says Jason Aster at KBA Lease Services.