Local taxing jurisdictions in New York could defer scheduled payments or installment payments for property taxes because of the COVID-19 state of emergency, under a bill passed by the state Legislature.
Investors Bank is reportedly seeking to sell its $48 million loan backed by a Brooklyn building, an Investcorp venture may give a Florida mall back to its lenders, and Omninet Capital has reportedly paid a combined $78 million for two Los Angeles County office complexes.
Goldman Sachs has loaned $48.98 million to a Fortuna Realty Group LLC entity for a new hotel in Midtown Manhattan, and Greenberg Traurig LLP worked on the deal, according to records made public in New York on Monday.
Investment company United Development Funding LP can't escape a Texas developer's $10 million business interference lawsuit under a state free speech protection law because communications about the developer's contracts don't address a public concern, a Texas appellate panel ruled.
The state of Texas lost a bid to undo a $28.8 million jury award in a lawsuit brought against it by a developer who said the Grand Parkway toll road project and the related condemnation of 40 acres tanked the value of the site for a proposed residential development.
A real estate investment trust in New York has agreed to drop its lawsuit accusing the Royal Bank of Canada of using the COVID-19 pandemic as an opportunity to illegally seize and sell off the trust's assets at fire-sale prices.
In this edition of Coronavirus Q&A, two of Goulston & Storrs' real estate leaders discuss the challenges of reopening in Boston and beyond, and note that trouble could be looming later this year for the multifamily sector.
Equinix has reached a deal to buy 25 data centers in Canada from Bell's parent company for CA$1.04 billion ($765 million), according to separate announcements from Equinix and Bell on Monday.
Fox Rothschild LLP added a pair of retail real estate partners from Schnader Harrison Segal & Lewis LLP whose work includes helping represent large chain retailers such as Dollar Tree as it opens new locations and for certain related commercial litigation.
The U.S. Environmental Protection Agency on Monday hobbled the authority of states and tribes to block projects like pipelines, export terminals and dams over Clean Water Act concerns, saying the power had been abused to unfairly restrict commerce.
The National Association of Realtors was hit Thursday with another antitrust suit over a new rule that prohibits members from privately marketing properties without using the association's listing service, this time brought by a competitor claiming the measure is "overbroad and restrains competition unnecessarily."
In the 2½ months since COVID-19 created a national emergency in the United States, dozens of companies have tilted into bankruptcy in the retail, travel and energy sectors, and a former bankruptcy judge predicts the turmoil will spread further through the economy in the coming months.
U.S. Bank NA shot back at Commerzbank's bid to reconsider a court order trimming the German bank's suit over U.S. Bank's stewardship of pre-crisis residential mortgage-backed securitization trusts, telling a New York federal court that its ruling resolved several issues and needs "no epilogue."
Two title and insurance companies being sued by investors over an alleged Ponzi scheme have asked a California state judge to disqualify Latham & Watkins LLP from representing the investors, saying Latham's defense of the companies in a previous Ponzi case gives the firm a conflict as it goes against the businesses now.
A California initiative seeking to raise $12.5 billion annually by removing commercial and industrial properties from certain state constitutional tax protections qualified for the November general election Friday.
The Texas Supreme Court on Friday agreed to review an oil and gas developer's dispute with royalty owners over whether the company can charge them for post-production costs.
Wisconsin property owners say a district court has failed twice now to properly apply environmental protection laws after a 2015 facility demolition allegedly spewed up so much contaminated dust that they needed windshield wipers to drive.
The U.S. Department of the Interior exceeded its lawful powers when it revoked trust land from a Massachusetts tribe in March, a bipartisan group of members of Congress have written in an amicus brief filed in D.C. federal court.
In this edition of Coronavirus Q&A, one of Foley & Lardner LLP's top health lawyers discusses how the pandemic's psychological trauma could reshape mental health care and what COVID-19's brutal toll on senior citizens means for nursing home operations and investments.
CIM Group is reportedly on the hunt for $396 million in financing for a New York City office property, IBM is said to be leaving its 70,000 square feet of space at a Manhattan WeWork property, and Lone Pine Capital has reportedly inked a deal to lease 8,102 square feet on Madison Avenue.
Starwood Capital has agreed to inject up to $325 million into a troubled TPG real estate finance unit, a deal guided by Sidley Austin LLP and Kirkland & Ellis LLP that's intended to help keep the unit afloat in the current market conditions.
New Jersey Gov. Phil Murphy signed a bill extending to July 1 the deadline to file 2020 property tax assessment appeals, and extending deadlines for county tax boards to decide on such cases, as relief from the COVID-19 pandemic.
As office and retail tenants continue to have difficulty making rent amid the COVID-19 pandemic, many will look to sublease some or all of their space, and lawyers say the pandemic has ushered in a unique set of sublease questions.
A federal judge in California on Thursday denied a bid for class certification in a suit accusing a green home upgrades financing company of misrepresenting the terms of its loans, telling the borrowers they didn't show they had actually viewed various versions of the company's alleged misrepresentations.
The Kings County Housing Court in downtown Brooklyn, New York, is so cramped, a New York City administrative judge said, that he wouldn't blame anyone for not wanting to enter the building anytime soon.
The current decrease in formality and increase in common ground due to the work-from-home environment can make it easier to have a networking conversation, says Megan Burke Roudebush at Keepwith.
The Texas Supreme Court's recent opinion in Yowell v. Granite Operating Co. is the latest indication that the rule against perpetuities presents a unique challenge for overriding royalty interest owners who wish to utilize anti-washout provisions to carry an interest forward to new oil and gas leases, says Michael Reer at Harris Finley.
One mistake that attorneys commonly make when presenting a case to a third-party funder is focusing almost exclusively on liability and giving short shrift to the damages analysis — resulting in an aspirational damages estimate that falls apart under scrutiny, say Cindy Ahn and Justin Maleson at Longford Capital and Casey Grabenstein at Saul Ewing.
Reviewing the successes and shortcomings of the Home Affordable Modification Program implemented after the 2008 financial crisis can help the mortgage industry mitigate class action litigation risks related to COVID-19, say Brian Forbes and Robert Sparkes at K&L Gates.
Attorneys at WilmerHale highlight recent developments in privilege law, the significant challenges raised by nontraditional working arrangements popularized during the pandemic, and ways to avoid waiving attorney-client privilege when using electronic communications.
To properly manage outside counsel, it's imperative for a company's legal department to implement and maintain rules on what they will and won't pay for, on staffing cases and requesting rate increases, and on how matters will be handled, says Chris Seezen at Quovant.
While pulling off an effective summer associate program this year will be no easy feat, law firms' investments in their future attorneys should be considered necessary even during this difficult time, says Summer Eberhard at Major Lindsey.
With unprecedented stress on real estate operations due to the COVID-19 crisis, this is a time to reflect on the property technology industry's success in recent years and to recognize how those models can be used to rebuild for the future, say attorneys at Goodwin.
Attorneys at WilmerHale analyze Securities Act complaints against companies that went public immediately prior to and during the COVID-19-induced market volatility, providing preliminary insights into whether, when and on what basis recent issuers are facing securities litigation.
History suggests that legal malpractice claims will rise following the current economic downturn, and while a certain percentage of the claims will be unavoidable, there are prophylactic steps that law firms can take, says John Johnson at Cozen O'Connor.
Many lenders accommodated commercial real estate investors and borrowers with short, multimonth payment deferrals amid the COVID-19 crisis, but these grace periods will end well before the fallout of the pandemic will, and the bank will come knocking, says Katherine Amador at Berger Singerman.
A New York City law signed into law Tuesday cancels personal guarantees executed in conjunction with commercial leases when tenants default on rent due to COVID-19, setting up a potential clash between the city's police powers and the U.S. Constitution's contracts clause, says Massimo D'Angelo at Adam Leitman.
Concerns that videoconferenced arbitration hearings compromise an arbitrator's ability to reliably resolve credibility contests are based on mistaken perceptions of how many cases actually turn on credibility, what credibility means in the legal world, and how arbitrators make credibility determinations, says Wayne Brazil at JAMS.
Investors interested in discount purchases of distressed real estate debt in the wake of the pandemic must consider potential tax obligations, many of which may be triggered without concurrent receipt of cash proceeds to pay the tax, says Peter Elias at Pillsbury.
Ensuring uninterrupted client service and compliance with ethical obligations in a time when attorneys are more likely to fall ill means taking six basic — yet often ignored — steps to build some redundancy and internal communication into legal practice, say attorneys at Axinn.