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Real Estate
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May 03, 2024
Freddie Mac, Insurer Settle $32M SEC Probe Coverage Dispute
Government-backed lender Freddie Mac told a Washington, D.C., federal court Friday that it has settled with an insurer in a $32 million coverage suit stemming from civil actions and federal probes around its collapse during the 2008 global financial crisis.
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May 03, 2024
Mich. Justices Punt On Privacy Questions In Drone Dispute
The Michigan Supreme Court on Friday dodged a novel question about the constitutionality of a town's drone surveillance of a couple's property, ruling that photos taken by the drone could not be suppressed in a zoning proceeding.
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May 03, 2024
Florida Court Revives County's Suit Over Fairgrounds Deal
A Florida appeals court on Friday revived Hernando County's lawsuit against a local county fair association over a broken contract to redevelop a county fairgrounds property, ruling that it is not clear the lawsuit is time-barred.
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May 03, 2024
'Reckless' NY Developer Owes Investor $3M+, Suit Says
A real estate investor is owed at least $3 million tied to its stake in a commercial development project in Shelton, Connecticut, according to a lawsuit in state court that accuses a Brooklyn-based developer of misusing money.
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May 03, 2024
Fed Bill Will Give Ga. Its First Nat'l Park, Protect Burial Lands
Georgia congressional lawmakers have introduced bipartisan legislation that would establish the Peach State's first national park, upgrading the site from its national monument status while also offering protections for more Native American burial mounds.
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May 03, 2024
DC Circ. Backs Feds' Puerto Rico Port Expansion Project
The D.C. Circuit on Friday upheld the federal government's plans to broaden shipping lanes at Puerto Rico's largest port, rejecting arguments from a trio of environmental groups who accused the U.S. Army Corps of Engineers of failing to take the requisite hard look at the dredging project's environmental risks.
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May 03, 2024
Judge Says Lender Can't Escape CFPB's Loan Data Suit
A Florida federal judge has refused to dismiss the Consumer Financial Protection Bureau's suit accusing mortgage servicer and lender Freedom Mortgage Corp. of violating federal law by submitting inaccurate government mortgage loan data.
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May 03, 2024
4th Circ. Preview: Hemp, Wells And A Withdrawal
The Fourth Circuit's second session of 2024 will have the court pondering the tension between Virginia's recent hemp restrictions and federal regulations, and how the Truth in Lending Act impacts a case accusing PNC Bank of an unauthorized account withdrawal.
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May 03, 2024
Brothers Accuse Cos. Of Mishandling $1.1M EB-5 Investments
Two brothers from India sued companies behind a combination residential-resort project they invested in under the EB-5 investor visa program, telling a Florida federal court that their green card petitions were denied because the companies mishandled their $1.1 million investment.
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May 03, 2024
Akerman Hires Miami-Dade Atty As Chair Of Land Use Team
Akerman LLP hired Dennis A. Kerbel, a veteran Miami-Dade County, Florida, government attorney, as the new chair of its land use and entitlements team in its Miami office, the firm announced.
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May 03, 2024
Debevoise, Davis Polk Guide Windstream, Uniti Merger
Uniti Group Inc., advised by Davis Polk & Wardwell LLP, on Friday unveiled plans to merge with Debevoise & Plimpton LLP-led telephone service company Windstream Holdings II LLC in a deal that includes a $425 million cash component, $575 million in preferred equity and a minority share in common equity of the combined company.
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May 03, 2024
Stockbridge Real Estate Fund Raises $709M
San Francisco-based Stockbridge Capital Group said Friday that it had closed on a real estate investment fund with $709 million in commitments last month, the largest in its history.
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May 02, 2024
NY Jury Hears Trump On Tape Discussing $150K Payment
Manhattan jurors in Donald Trump's criminal trial heard secretly recorded conversations of the former president discussing what prosecutors say is a $150,000 hush money payment for a former Playboy model intended to boost his 2016 election campaign.
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May 02, 2024
Biden Expands Protections For 2 National Monuments In Calif.
President Joe Biden on Thursday expanded protections on nearly 120,000 acres of land for two California national monuments considered sacred to Native Americans, while permanently returning one to its original Indigenous name.
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May 02, 2024
Allstate Secures Win In Untimely Ga. Storm Damage Dispute
The Georgia Court of Appeals upheld a trial court's grant of a directed verdict in favor of Allstate in a dispute brought by two homeowners who claimed the insurer owed over $430,000 after it failed to cover all sums they believed were owed for storm damage.
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May 02, 2024
Activist Files New Proxy Fight In REIT Takeover Attempt
Activist investor Blackwells Capital LLC continued its campaign against hospitality executive Monty J. Bennett by separately urging shareholders of Braemar Hotels & Resorts Inc. and an advisory firm that Bennett controls to approve a board shake-up during upcoming annual meetings.
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May 02, 2024
USAA Wrongly Denied Fire Damage Claim, Wash. Couple Says
A Washington couple accused their homeowners insurer of unreasonably denying their fire damage claim despite their timely response to all of the insurer's claim inquiries and requests, further accusing the insurer of violating Washington's Consumer Protection Act and Insurance Fair Conduct Act.
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May 02, 2024
Kushner-Owned Co. Owes $15M For Scrapped Apartment Deal
A New Jersey appeals panel has ordered a company owned by Kushner Cos. LLC to pay $15 million to real estate sellers in a $186 million deal that fell apart during the COVID-19 pandemic.
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May 02, 2024
Split Conn. Supreme Court Says No To 'Ratio' Utility Bills
In a rare 4-3 opinion, the Connecticut Supreme Court on Thursday ruled that a corporate landlord cannot use a ratio utility billing system to divide monthly costs among units not equipped with precise individual meters, stressing a legislative policy of protecting tenants from fluctuating fees beyond their immediate control.
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May 02, 2024
Mass. Property Is Agricultural, Appellate Board Says
A 14-acre property should be classified as agricultural, as the owner proved the land's main use was farming, the Massachusetts Appellate Tax Board said in a ruling released Thursday.
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May 02, 2024
DLA Piper Investment Funds Leader Joins Willkie In Chicago
Willkie Farr & Gallagher LLP has announced that the former co-head of DLA Piper's investment funds practice joined the firm's asset management group as a partner in its Chicago office.Â
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May 02, 2024
Eckert Seamans Sues For Inclusive Zoning Fight Fees
Eckert Seamans Cherin & Mellott says a group representing Pittsburgh-area developers still owes nearly $76,000 in legal fees for the firm's work on a federal suit challenging an "inclusive zoning" ordinance, according to a complaint filed in Pennsylvania state court Thursday.
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May 02, 2024
Nixon Peabody Adds Two Community Finance Attys In DC
Nixon Peabody LLP has hired two partners, who will focus their practices on helping nonprofits and other clients understand and obtain tax credits for a range of community development projects, to its community development finance practice in Washington, D.C., the firm announced Thursday.
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May 02, 2024
New DC Stadium A Step Closer With RFK Demolition Approved
RFK Stadium in Washington, D.C., has been cleared for demolition by the National Park Service, another step forward in the city's attempt to build a new stadium to lure back the NFL's Washington Commanders.
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May 01, 2024
Ex-State Dept. Adviser To Co-Lead Klasko's Investor Visa Team
A former U.S. Department of State attorney-adviser has left government service to co-lead Klasko Immigration Law Partners' EB-5 regional center and developer practice, the firm recently announced.
Expert Analysis
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A Year-End Look At Florida's Capital Investment Tax Credit
Notwithstanding the Walt Disney Co.’s feud with Gov. Ron DeSantis this year, Florida's capital investment tax credit will continue to make the state a favored destination for large corporations, particularly in light of the new federal alternative minimum tax and the Pillar Two top-up tax, says Alan Lederman at Gunster.
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Understanding Discovery Obligations In Era Of Generative AI
Excerpt from Practical Guidance
Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.
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Navigating USCIS' New Minimum EB-5 Investment Period
Recent significant modifications to U.S. Citizenship and Immigration Services’ EB-5 at-risk requirement are causing uncertainty for several reasons, but investors who consider certain key aspects of prospective projects can mitigate the immigration and investment risks, say Samuel Silverman at EB5AN, Ronald Klasko at Klasko Immigration, and Kate Kalmykov at Greenberg Traurig.
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Series
ESG Around The World: Mexico
ESG has yet to become part of the DNA of the Mexican business model, but huge strides are being made in that direction, as more stakeholders demand that companies adopt, at the least, a modicum of sustainability commitments and demonstrate how they will meet them, says Carlos Escoto at Galicia Abogados.
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Crypto Has Democratized Trading In Bankruptcy Claims
Following the pandemic, there has been a wave of cryptocurrency bankruptcies and a related increase in access to information, allowing nontraditional bankruptcy investors to purchase claims and democratizing a once closed segment of alternative investing, says Joseph Sarachek at Strategic Liquidity.
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The Case For Post-Bar Clerk Training Programs At Law Firms
In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.
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Attorneys Have An Ethical Duty To Protect The Judiciary
The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.
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Paths Forward For RE Buyers In Turbulent Market Conditions
Real estate borrowers are facing significant challenges in financing new acquisitions or developments amid escalating interest rates, but opportunistic debt funds may be able to help bridge through the present environment, say Jon Gallant and Jared Hodges at Knowles Gallant.
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DC Ruling Provides Support For Builders Risk Claim Recovery
To deny coverage for builders risk claims, insurers have been increasingly relying on two arguments, both of which have been invalidated in the recent U.S. District Court for the District of Columbia decision, South Capitol Bridgebuilders v. Lexington, say Greg Podolak and Cheryl Kozdrey at Saxe Doernberger.
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What NJ's Green Remediation Guidance Means For Cleanups
Recent guidance from the New Jersey Department of Environmental Protection promoting greener approaches to restoring contaminated sites demonstrates the state's commitment to sustainability and environmental justice — but could also entail more complexity, higher costs and longer remediation timelines, say J. Michael Showalter and Bradley Rochlen at ArentFox Schiff.
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A New Path Forward For Surplus Land Owners In Calif.
A new California law signed last month enables some religious institutions and nonprofit colleges to build affordable housing on surplus land, and its requirements — which are more manageable than they may appear — will support long-term benefits including good housing and the survival of worthy institutions, says Stephen Wilson at Withers.
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AI Can Help Lawyers Overcome The Programming Barrier
Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.
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Inside Bank Regulators' Community Lending Law Overhaul
The federal banking agencies' recently finalized changes to the Community Reinvestment Act not only account for the gradual shift to an environment where lending and deposit-taking are primarily conducted online, but also implement other updates such as diversity initiatives and a new series of lending tests, say attorneys at Norton Rose.
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Preparing Law Students For A New, AI-Assisted Legal World
As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.
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Sellers Seeking Best Deal Should Focus On Terms And Price
Rising interest rates and a decline in the automotive mergers and acquisitions market mean that a failed deal carries greater stakes, and sellers therefore should pursue not only the optimum price but also the optimum terms to safeguard their agreement, says Joseph Aboyoun at Fox Rothschild.