A state judge cleared the way Friday for the demolition of a series of Philadelphia properties with rich histories if not protected historic status, as the court shot down a local preservation group’s many arguments for why the properties’ owner should not have been granted permits to proceed with redevelopment.
The Office of the Comptroller of the Currency on Monday threw its weight behind Bank of America in urging the Ninth Circuit to review a panel decision that found the National Bank Act does not preempt a California state escrow interest law, arguing that it’s the “rare case that justifies rehearing.”
Weyerhaeuser Co. and other forest land owners on Monday asked the U.S. Supreme Court to overturn a Fifth Circuit ruling upholding the U.S. Fish and Wildlife Service’s decision to declare 1,500 acres of private property in Louisiana as protected habitat for the endangered dusky gopher frog.
Cadwalader Wickersham & Taft LLP represented Deutsche Bank AG in connection with its $110 million loan to DLA Piper-counseled Oxford Properties Group for the purchase of various commercial condo units at a luxury condo tower on East 57th Street in Manhattan, according to records made public in New York on Monday.
General Motors told a New York bankruptcy court on Friday that a group of Michigan residents cannot pursue the carmaker for groundwater contamination, saying GM's 2009 bankruptcy sale agreement did not assign the so-called New GM liabilities related to common law environmental claims.
Beacon Capital has reportedly bought a San Jose, California, office tower for $101.5 million, Chetrit Group is said to have landed an $82.5 million loan backed in part by a Brooklyn hotel and MMG Equity has reportedly picked up a Florida shopping center for $6.2 million.
Cushman & Wakefield Inc.'s insurers cannot lean on a pair of policy exclusions to deny coverage for multiple lawsuits against the company over pre-2008 real estate appraisals, a New York federal judge held Friday, while also finding that all the underlying actions are related and fall under the same policy period.
U.K. developer Great Portland Estates PLC has sold a pair of London mixed-use properties that include retail space to M&G Real Estate for £49.6 million ($69.1 million), according to an announcement Monday from Great Portland Estates.
A Pennsylvania federal judge on Friday sided with landowners in a class action alleging a Royal Dutch Shell unit failed to pay them contractually obligated bonuses on oil and gas leases, saying the documents exchanged between the company and landowners in brokering the leases constituted an enforceable contract.
The U.S. Department of Justice wants up to three years' prison for five real estate investors who admitted to conspiring to rig bids in Bay Area foreclosure auctions, according to sentencing memorandums recently filed in California federal court.
A Florida appeals court sided with the state's financial services agency Friday in a dispute with two law firms, ruling that a public records exemption protecting certain personal information held by the agency for participants in two real estate insurance programs is constitutional.
Toys R Us has entered into an agreement to sell its Canadian stores and assets for at least C$300 million (roughly $235 million), the bankrupt retail giant said in a court filing Thursday, stating that Toronto-based Fairfax Financial Holdings Ltd. has come in as a stalking horse bidder.
A seemingly small change to China’s value-added tax rates set to go into effect next month may not be enough to give China an edge over the U.S. in drawing new businesses, but it could encourage existing multinational businesses to stay put.
Kelley Drye & Warren LLP represented Aareal Capital Corp. in connection with its $92 million loan to a Seyfarth Shaw LLP-counseled venture that includes Stonebridge Cos. for a Manhattan hotel, according to records made public Friday in New York.
New York Gov. Andrew Cuomo on Friday unveiled a new energy efficiency target that aims to significantly slash buildings' energy use by 2025, saying the reductions will help the Empire State reach the goal of cutting its greenhouse gas emissions by 40 percent from 1990 levels by 2030.
Brookfield is said to have leased Manhattan space to health care data firm IQVIA and nonprofit MDRC, Acadia Realty Trust has reportedly sold a New York development site for $26 million, and retail landlord Edens is said to have sold two Florida Publix-anchored shopping centers to a company owned by Miami Heat minority owner Raanan Katz.
The latest firms to expand their life sciences and health care abilities are Goodwin Procter LLP, Shook Hardy & Bacon LLP, Michael Best & Friedrich LLP, Orrick Herrington & Sutcliffe LLP, Harter Secrest & Emery LLP, Eversheds Sutherland and Cole Schotz PC.
In this week’s Taxation With Representation, Procter and Gamble bought Merck KGaA’s consumer health business for $4.2 billion, Icahn’s Tropicana sold its real estate assets to Gaming and Leisure Properties Inc. and merged its gaming and hotel operation with Eldorado Resorts Inc. in a $1.85 million deal, and Shire sold its oncology business to Servier SAS for $2.4 billion.
The last week has seen a contract dispute erupt between Russia's Sberbank and a fellow state-controlled bank in Azerbaijan, Greece's Alpha Bank sue more than a dozen Lloyd's syndicates, and underwriters and Lit Securities take on Morgan Stanley.
The Swinomish Indian Tribal Community urged a Washington federal judge Thursday not to permit an appeal of his rulings in favor of the tribe in its suit alleging BNSF Railway Co. shipped crude oil across reservation land in violation of an agreement, saying the railroad is merely trying to prolong the case.
Under an IRS revenue procedure issued on April 11, 2018, issuers of tax-advantaged bonds have new remedial actions available to them to cure unqualified uses that previously would result in loss of tax-advantaged status. Attorneys at Nixon Peabody LLP explain the new procedures.
Under certain facts, some foreign investors can invest in a real estate investment trust on a completely tax-free basis, both with respect to distributions received from the REIT and with respect to the disposition of the REIT stock, say Galia Antebi and Neha Rastogi of Ruchelman PLLC.
Among the proposed amendments to Rule 23 of the Federal Rules of Civil Procedure, which are scheduled to take effect Dec. 1, are specific requirements related to “front-loading.” They outline the process for seeking preliminary court approval of class action settlements and related notice plans, say Shandarese Garr and Niki Mendoza of Garden City Group LLC.
Reversing a lower court's motion for summary judgment, the Superior Court of Pennsylvania recently held that trespass and conversion claims arising from a hydraulic fracturing operation are not precluded by the rule of capture. The case raises unsettling questions for oil and gas operators, say L. Poe Leggette and Jasper Mason of BakerHostetler.
While many analysts expected that federal tax reform would dampen enthusiasm around real estate investment trusts, those concerns have proven to be unfounded. In fact, REITs and their investors should see a net gain overall from the recently adopted tax changes, say attorneys with Kramer Levin Naftalis & Frankel LLP.
How can we improve meetings in the legal industry, which tends to evolve with the speed of a tranquilized water buffalo mired in quicksand? Breaking it down to three phases can yield significant benefits, says Nicholas Cheolas of Zelle LLP.
“Come From Away” sounds like the stuff of a documentary on the Discovery Channel, not singing and dancing on stage. How could a musical tied to the 9/11 terrorist attacks ever get made — and by a real estate lawyer? The show’s producer, Michael Rubinoff, was kind enough to find 30 minutes to tell me, says Randy Maniloff.
One way law firms differentiate themselves from the competition to attract and retain top talent is through their real estate and workplace strategies. Taking a lead from the hospitality industry can help create a more inviting, welcoming and collaborative workspace environment, says Bella Schiro of Jones Lang LaSalle Inc.
After the D.C. Court of Appeals' recent decision in Andrea Liu v. U.S. Bank, secured lenders may find themselves fighting for the validity of their security interests as a result of condo association foreclosures. However, the court has provided some guidance that should give secured lenders some solace, say attorneys with Bradley Arant Boult Cummings LLP.
In his first year on the U.S. Supreme Court, Justice Neil Gorsuch has proven to be a narrow-minded elitist who consistently votes in favor of corporations and the powerful, acting to roll back protections for workers, consumers, LGBTQ individuals and other marginalized communities, says Elliot Mincberg of People for the American Way.