Real Estate

  • May 26, 2017

    UN Bribery Trial Tees Up Questions On FCPA, Corruption

    A trial set this coming week in a complex case against a Chinese businessman accused of bribing U.N. officials sets the stage for a judge to consider unique questions about the scope of the Foreign Corrupt Practices Act and other U.S. bribery laws.

  • May 26, 2017

    Texas Resort Sues Insurer After $157M Storm Damage

    A large Texas resort is suing its excess insurer of last resort, Homeland Insurance, for coverage of major property damage from a storm system that raked its golf course, housing development, and almost two square miles of woods in April 2015 and caused an estimated $157 million in damage.​

  • May 26, 2017

    Inheritance Interference Claim Won't Fly, Texas Justices Say

    The Texas Supreme Court on Friday rejected the appeal in a family dispute of some heirs of a wealthy landowner who alleged that harmful interference by a Jackson Walker LLP partner caused them to lose out on a 2,400-acre Eagle Ford Shale ranch and underlying interests worth $3 million, holding that Texas does not recognize a claim for tortious interference with an inheritance.

  • May 26, 2017

    6th Circ. Puts Nucor Steel Plant Contamination Suit To Bed

    The Sixth Circuit on Thursday affirmed an Ohio district court’s pre-trial decision favoring Nucor Steel Marion, Inc. in a trespass and nuisance lawsuit that alleges the steel company emitted the hazardous chemical manganese onto several properties, saying the landowners don’t have enough evidence to bring a case to the courtroom.

  • May 26, 2017

    NM Utility Can't Seize Navajo Land, 10th Circ. Says

    The Tenth Circuit on Friday backed a lower court ruling that a New Mexico utility can’t secure a path for a transmission line through property that is partly owned by the Navajo Nation, saying there's no language in federal law on rights of way that allows tribal lands to be condemned.

  • May 26, 2017

    Ocwen Says Loan Auditor Billed Strip Clubs, Bloated Hours

    A lawsuit filed by Ocwen Financial Corp. alleges that the monitor hired by California regulators as part of a June 2015 mortgage servicing settlement fraudulently inflated monthly rates and attempted to bill Ocwen for employees’ outings to strip clubs and casinos.

  • May 26, 2017

    Pa. Woman Lands $95.6M After Building Collapse Arbitration

    A Philadelphia woman who lost the lower half of her body in the 2013 Center City building collapse was awarded $95.6 million in binding arbitration Thursday, following a $227 million settlement in February with the Salvation Army and a now deceased New York real estate investor.

  • May 26, 2017

    House Lawmaker Condemns GSA’s Oversight Of Trump Lease

    The ranking member of the U.S. House’s Financial Services and General Government Appropriations panel has slammed the federal agency overseeing President Donald Trump’s lease for a luxury hotel in Washington, D.C., saying it has failed to hold him accountable for personally profiting from a potential conflict of interest.

  • May 26, 2017

    NH High Court Revives DirecTV's Property Tax Suit

    DirecTV Inc. won a chance to overturn a New Hampshire town’s decision on taxing an uplink facility there on Friday, with the state’s Supreme Court sending the actual taxable value of the property back to a lower court.

  • May 26, 2017

    NY Property Owners Urge 2nd Circ. To Rethink Cleanup Suit

    Long Island, New York, property owners asked the Second Circuit on Thursday to rethink its decision not to revive their suit against a Nassau County Superfund site's former lessees and occupants for cleanup costs related to groundwater contamination.

  • May 26, 2017

    Winston & Strawn Guides Boston REIT's Estimated $75M IPO

    Plymouth Industrial REIT Inc., a Boston-based firm that manages industrial properties and warehouses, launched an estimated $75 million initial public offering on Thursday that is guided by Winston & Strawn LLP, joining a recent wave of commercial real estate firms going public.

  • May 26, 2017

    Texas Justices Affirm Countywide Mineral Grant In Deed Fight

    The Texas Supreme Court on Friday upheld the validity of a deed that transferred ownership of mineral rights across an entire county, saying the deed was not ambiguous and trumps a later deed purporting to convey some of the same interests.

  • May 26, 2017

    BlackRock Inks $1.25B Lease For Hudson Yards Space

    BlackRock has signed a lease for its planned move to Hudson Yards, on the far west side of Manhattan, which will see the investment management giant pay $1.25 billion for the space over a 20-year term, according to a regulatory filing Thursday.

  • May 26, 2017

    Atty And Her Dad Used $50M EB-5 Scam To Buy Homes: Gov't.

    Federal prosecutors have accused a California attorney and her father of purchasing numerous multimillion-dollar properties across Southern California with money obtained from their alleged $50 million EB-5 scam that helped Chinese nationals get fraudulent green cards.

  • May 26, 2017

    Investors To Appeal Dismissal Of Fannie, Freddie Suit

    Investors seeking to challenge the sweep of profits from Fannie Mae and Freddie Mac instituted by the Obama administration on Thursday said they intend to appeal a Texas federal judge’s decision that dismissed their complaint against the Treasury Department and the Federal Housing Finance Agency.

  • May 26, 2017

    Pa. Judge OKs Clean Air Council's Sunoco Pipeline Fight

    A Pennsylvania trial judge ruled Thursday that an environmental group could move forward with a lawsuit challenging a Sunoco Inc. unit’s ability to seize land through eminent domain for the controversial Mariner East 2 pipeline despite a string of state appeals court rulings rejecting similar claims.

  • May 25, 2017

    NJ City Accused Of Bias In Denying Mosque Plans

    An Islamic group accused Bayonne, New Jersey, officials on Thursday in federal court of religious discrimination in rejecting its plans to convert an abandoned warehouse into a mosque, saying the municipal zoning board of adjustment capitulated to the community’s anti-Muslim animus.

  • May 25, 2017

    NJ High Court Deals Blow To Religious Group's Plans For Lot

    The Supreme Court of New Jersey has passed on hearing an appeal by a Jewish Community Center in its quest to build a facility, leaving in place a lower court decision that the deed on the chosen property prohibits construction of the center.

  • May 25, 2017

    Broker Agrees To Deal Over Alleged REIT Violations

    A broker-dealer has agreed to pay $650,000 to resolve allegations that the business unlawfully sold units in non-publicly traded real estate investment trusts to unsuitable New Jersey investors and failed to make and keep adequate records for its sales, state officials announced Thursday.

  • May 25, 2017

    Delhi High Court Targets Property After Upholding ICC Award

    Investors in a canceled Indian IT economic zone have announced that the Delhi High Court issued a warrant for property owned by promoters of the nixed project, who recently lost their latest challenge to a £13.8 million ($17.9 million) International Chamber of Commerce award in favor of the investors.

Expert Analysis

  • Glass-Steagall Revival Could Have Profound Impact

    V. Gerard Comizio

    The financial services industry faces the real possibility of a bipartisan effort to reinstate the portions of the Glass-Steagall Act that separated commercial and investment banking. Depending on the final form any new legislation takes, the changes could go further than merely reinstating the status quo as of 1999, say V. Gerard Comizio and Nathan Brownback of Fried Frank Harris Shriver & Jacobson LLP.

  • Texas Opens The Door To More Oilfield Contamination Suits

    Stakelum Andrew 112864.jpg

    The Texas Supreme Court affirmed last month that the state agency overseeing oil and gas matters does not possess exclusive jurisdiction over oilfield contamination claims. The result is that a landowner could obtain both an order from the agency compelling an oil company to clean up the contamination and court-ordered damages for the same contamination, says Andrew Stakelum of King & Spalding LLP.

  • My Milkshake Is Better Than Yours: Part 2

    Jill Dessalines

    In the second installment of this two-part series on disruptive innovation among mid-size law firms, Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former senior vice president at McKesson Corp., explores a number of ideas for keeping clients and maintaining market position.

  • An Illinois Court's Lesson For Senior Lenders

    Jason Hirsh

    When does a modification “substantially impair” a junior lender’s priority? While not adopting a bright-line rule to answer this question, an Illinois state appeals court in Bowling Green Sports Center v. GAG LLC offered examples of where it would find “substantial impairment,” resulting in a senior lender losing its priority status, say Jason Hirsh and Erin Mayer Isaacson of Levenfeld Pearlstein LLC.

  • Questions Following Prevezon Money Laundering Settlement

    Elizabeth Prewitt

    The Prevezon case stands out as an example of the extraordinary lengths the U.S. government can and will go to assert jurisdiction over matters involving foreign entities and persons who commit crimes abroad to the detriment of foreign countries and citizens. However, since the matter settled, the government’s case was not tested at trial, say attorneys with Hughes Hubbard & Reed LLP.

  • My Milkshake Is Better Than Yours: Part 1

    Jill Dessalines

    As I sat there listening, incredulous to learn that "Milkshake" was not only a real song but also a chart-topper, it reminded me of Harvard Business School Professor Clayton Christensen’s work on disruptive innovation — and how it pertains to mid-size law firms, says Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former assistant general counsel of McKesson Corp.

  • FHFA Should Free Captive Insurer Capital

    Jeffrey Murphy

    The Federal Housing Finance Agency's ruling that prevents captive insurance companies from becoming members of the Federal Home Loan Bank system is forcing billions of dollars of private capital out of the U.S. residential mortgage market. Hopefully, the Trump administration and members of Congress will be able to convince FHFA Director Melvin Watt to reverse this ruling, says Jeffrey Murphy of Dentons.

  • Attorneys, Your Input Is Needed On Deposition Rule

    Frank Silvestri, Jr.

    Every lawyer who’s handled a civil case in federal court knows about Rule 30(b)(6), governing deposition procedures. But for many real-world deposition dilemmas, the rule offers little guidance. Last year, an Advisory Committee on Civil Rules subcommittee began considering whether the rule should be amended. Now attorneys must advise the subcommittee how to proceed, says Frank Silvestri Jr. of Verrill Dana LLP.

  • 2 Rules For Avoiding Cannabis-Related Property Traps

    Dennis Baranowski

    Similar to the Gold Rush of 1849 where the majority of prospectors realized little to no return from their labors, the "Green Rush" of marijuana legalization is destined to yield the same result. However, following two golden rules will help you weed out the bad deals from the good and strike it rich, says Dennis Baranowski of Geraci Law Firm.

  • When The Money Is Gone: The Legal Aftermath Of Wire Fraud

    Mariana Bravo

    As wire fraud schemes become more prevalent, everyone involved in a real estate transaction is at risk. Liability will likely depend on, in part, whether the agent, broker or title company employed commercially reasonable security procedures, say Mariana Bravo and Katherine Ondeck of Carr Maloney PC.