Real Estate

  • November 15, 2019

    Real Estate Rumors: Rockwood, Kushner, Landmark

    Rockwood has reportedly joined Deutsche Bank on a $365 million CMBS Manhattan loan, Kushner Cos. reportedly will need to renegotiate a $285 million New York loan with Deutsche and Landmark Cos. is said to have dropped $30 million on a Florida apartment complex.

  • November 15, 2019

    Exception To Attys' Fee Rule Misapplied, Fla. Court Says

    A Florida state appeals court ruled Friday that a lower court erred when it applied an exception to a general rule against awarding attorneys' fees incurred litigating the amount of a fees award and made such an award to a homeowner who prevailed in a mortgage foreclosure suit.

  • November 15, 2019

    Undo $59M CFPB Award Pending High Court Cases, Attys Say

    The principals of two mortgage relief law firms targeted in a Consumer Financial Protection Bureau lawsuit have asked a Wisconsin federal judge to take back a $59 million judgment he awarded the agency to end the case, a conclusion they said could be upended by two pending U.S. Supreme Court appeals.

  • November 15, 2019

    Funds Defend $9M Award In Chinese Real Estate Arbitration

    A bid to vacate a $9 million costs award issued in a dispute over a $200 million investment deal involving a Chinese real estate developer is a "Hail Mary" based on a "fictitious" account of the underlying arbitration, a pair of venture capital funds argued in California federal court.

  • November 15, 2019

    New York Project Lands $79M Loan From Madison, Hana

    Developer Real Estate Equities has landed $79.1 million in financing for a Manhattan mixed-use project from Madison Realty Capital and South Korea-based financial services firm Hana Financial Group, according to a Friday announcement from Madison Realty.

  • November 15, 2019

    Lloyd's Not Responsible For Developer's $3.5M Death Payout

    A Lloyd’s of London unit isn’t responsible for covering a developer’s $3.5 million judgment over a subcontractor employee’s death, as a previous settlement with the employee’s parents barred the pursuit of further claims, an Arizona federal judge ruled Friday.

  • November 15, 2019

    Spencer Fane Adds 9 Attys From Folding Hiersche Hayward

    Spencer Fane LLP has announced it will add nine attorneys to its Plano, Texas, office from the Dallas firm Hiersche Hayward Drakeley & Urbach PC, which is shuttering.

  • November 15, 2019

    11 Firms To Guide 6 IPOs Led By Florida REIT, Crypto Miner

    Eleven firms are set to steer six initial public offerings that could raise $616 million in the week of Nov. 18 — the market's last full week before the Thanksgiving break — led by a real estate investment trust, a cryptocurrency miner and two acquisition-hungry blank check companies.

  • November 15, 2019

    Cederquist Helping With Swedish Property Cos.' $2.4B Merger

    SBB is offering to buy fellow Sweden-based real estate firm Hemfosa for 23.5 billion Swedish krona ($2.44 billion), the companies said Friday, and Cederquist is advising Hemfosa's board of directors on the offer, which would create the fourth-largest Nordic real estate firm.

  • November 15, 2019

    Jay Peak Fraud Case Must Stay In Vt., Feds Say

    A developer accused of defrauding foreign investors in a Vermont EB-5 project shouldn’t be able to move the case out of state, federal prosecutors said Thursday, arguing that media coverage has been fair and the risk of prejudicing a jury in the upcoming trial is low.

  • November 15, 2019

    Trump Asks Justices To Halt Business Records Subpoena

    President Donald Trump asked the U.S. Supreme Court on Friday to pause the enforcement of a subpoena by the House Oversight and Reform Committee seeking eight years of his business records from his longtime accounting firm, according to his attorney.

  • November 15, 2019

    Seminole Tribe Claims It's Immune To Church Takeover Suit

    The Seminole Tribe of Florida invoked its sovereign immunity in calling Thursday for a federal court to toss a Haitian Baptist church's lawsuit alleging several armed tribal police officers helped the widow of a former pastor seize control of its property and lock out church members.

  • November 15, 2019

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen Libya's sovereign wealth fund sue Credit Suisse amid a long-running bribery battle, retailer Sports Direct take on its former accountant Grant Thornton, and a host of underwriters file claims against a shipowner and its bank a month after winning a case over a fake pirate attack. Here, Law360 looks at those and other new claims in the U.K.

  • November 15, 2019

    Goldman Sachs To Exit Bond Price-Fixing Suit With $20M Deal

    Investors who targeted big banks with bond price-fixing claims have nabbed a third settlement in the sprawling litigation, telling a New York federal judge Thursday that they’ve reached a $20 million deal with Goldman Sachs.

  • November 14, 2019

    9th Circ. Judge Calls DOJ's Appeal In FCA Suit 'A Mistake'

    A Ninth Circuit judge on Thursday criticized the U.S. Justice Department's efforts to end a whistleblower's False Claims Act suit against Academy Mortgage Corp., saying the DOJ "probably made a mistake" by seeking the interlocutory appeal and should have instead tried to satisfy the district court's concerns about dismissal.

  • November 14, 2019

    Trump Panama Hotel Suit Plows Ahead in NY, As Stay Is Nixed

    A Manhattan federal judge waived off a bid to stall discovery in fraud litigation brought by owners of luxury hotel units in Panama after they argued that President Donald Trump's management companies had violated a previously-agreed-upon pause.

  • November 14, 2019

    Ill. Judge Trims Housing Maintenance Discrimination Suit

    An Illinois federal judge said Wednesday that a National Fair Housing Alliance action against Deutsche Bank over alleged neglect of foreclosed homes in minority neighborhoods would be allowed to proceed, but he found that the NFHA could not pursue all of the damages claims it included in its suit.

  • November 14, 2019

    Timeshare Biz Sues Firm Over Promises To Contract Owners

    Timeshare company Bluegreen Vacations has slapped a Missouri law firm with a false advertising lawsuit in Florida federal court, claiming it can’t legally make good on its promise to help share owners cancel their timeshare contracts.

  • November 14, 2019

    Subcontractors Say They're Owed For Parking Garage Work

    Two developers and their owners have alleged in North Dakota federal court that a construction company hasn't properly compensated them for subcontracting work done on a project to build a pair of parking garages.

  • November 14, 2019

    Mexican State Beats Free Speech Defense In $100M Theft Suit

    The Mexican state of Veracruz can continue pursuing claims against a couple it says pilfered $100 million from government coffers, a Texas appellate court ruled on Thursday, denying the couple's bid to use a Texas free speech law to end the suit.

  • November 14, 2019

    Trump 'Absolutely Immune' From NY Tax Probe, Justices Told

    President Donald Trump asked the U.S. Supreme Court on Thursday to find that he has “absolute immunity” from criminal investigations while president and to block the Manhattan district attorney's subpoena of tax and financial records from his accounting firm. 

  • November 14, 2019

    Real Estate Rumors: Dream Hotels, Zaragon, Carlyle

    A Dream Hotels venture has reportedly sold a Chicago property at a loss for $13 million, Zaragon is said to have dropped $12 million on a former USA Today distribution site in Florida, and a financing arm of Carlyle Group and Slate Property is said to have loaned $44 million for a Manhattan development site.

  • November 14, 2019

    PennEast Will Ask Justices To Undo 3rd Circ. Pipeline Ruling

    Developers of the $1 billion PennEast pipeline said Thursday they will seek U.S. Supreme Court review of the Third Circuit's ruling that PennEast can't seize New Jersey-owned land for the project, claiming the decision threatens to stymie gas development nationwide.

  • November 14, 2019

    JLL Lands $119M Loan For West LA Office Development

    Jones Lang LaSalle has arranged $119.3 million in construction financing for a 230,000-square-foot office development in West Los Angeles, the firm said Thursday.

  • November 14, 2019

    Ex-Deutsche Trader To Pay $500K To End DOJ’s RMBS Suit

    The U.S. Department of Justice announced Thursday that a former Deutsche Bank trader will pay $500,000 to settle allegations that he misled investors about the quality of loans underlying two residential mortgage-backed securities in the lead-up to the financial crisis.

Expert Analysis

  • Resolving Warranty And Guaranty Confusion In Construction

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    It is essential that property owners, contractors and their lawyers understand the key distinctions between warranties and guaranties, and are mindful of these distinctions when drafting and enforcing prime construction contracts or subcontracts, says Michael Scheffler of Blank Rome.

  • Texas Could Take Page From Mass.'s Judicial Selection Book

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    As Texas and other states review their judicial election processes, they would be well served by taking guidance from Massachusetts' Governor’s Council system, which protects the judiciary from the hazards of campaigning, says Richard Baker of New England Intellectual Property.

  • Series

    Judging A Book: McKeown Reviews 'Conversations With RBG'

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    Reading Jeffrey Rosen’s "Conversations With RBG: Ruth Bader Ginsburg on Life, Love, Liberty, and Law" is like eavesdropping on the author and his subject while they discuss how the restrained judicial minimalist became the fiery leader of the opposition, says Ninth Circuit Judge M. Margaret McKeown.

  • Where A Litigator's Advice Can Improve Agreement Drafting

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    Transactional attorneys should consider consulting with litigation counsel when drafting certain contractual provisions — choice of law, choice of forum, attorney fees and others — that could come into play in a broad range of substantive disputes, says Adrienne Koch at Katsky Korins.

  • Pipeline Projects Face New Questions On Landowner Rights

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    The tension between the rights of landowners and pipeline developers has come to a head in two federal appellate courts and a Federal Energy Regulatory Commission announcement, muddling the historical clarity of Natural Gas Act eminent domain authority, say attorneys at K&L Gates.

  • High Court's Disgorgement Ruling Could Curb SEC Authority

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    The U.S. Supreme Court recently agreed to review Liu v. U.S. Securities and Exchange Commission, which challenges the SEC's ability to obtain disgorgement from federal courts, and has the potential to significantly restrict the regulator's enforcement power, say attorneys at Cleary.

  • Opinion

    Flat-Fee Legal Billing Can Liberate Attorneys

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    Replacing hourly billing with flat-fee arrangements, especially for appellate work, will leave attorneys feeling free to spend as much time as necessary to produce their highest quality work, says Lawrence Ebner of Capital Appellate Advocacy.

  • Spoliation Rule Remains Ambiguous Despite Amendments

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    Although the Federal Rules of Civil Procedure were amended to provide a uniform standard of culpability for spoliation, cases with similar facts are still reaching differing results because the rule does not specify how a court should evaluate a party's intent, say attorneys at Pepper Hamilton.

  • SEC's Fraud Enforcement Shows Quality, If Not Quantity

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    Over the course of the U.S. Securities and Exchange Commission's recently ended fiscal year, the regulator's Division of Enforcement fulfilled its promise to emphasize quality over quantity in cases alleging misrepresentations of financial performance by covering a wide swath of accounting, disclosure, internal control and auditor independence issues, say attorneys at Perkins Coie.

  • 5 Trends Influencing RFPs For Law Firms

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    Requests for proposals, the standard tool of companies evaluating law firms, are becoming better suited to the legal industry, says Matthew Prinn of RFP Advisory Group.

  • 2 Del. Decisions Call Out Conflicted Controlling Stockholders

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    In Tornetta v. Musk and the BGC Partners Derivative Litigation, the Delaware Chancery Court has reaffirmed that concerns over controlling stockholders may be valid even when the controller didn't intend to exercise coercive influence, independent directors negotiated a transaction, or stockholders approved the transaction, say attorneys at Fried Frank.

  • What Industry, Investors Think Of The Proposed CFIUS Regs

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    Comments on the U.S. Department of the Treasury's proposed regulations to expand and modernize the Committee on Foreign Investment in the United States offer insight into investment community concerns and questions, as well as alternatives that would affect U.S. and foreign entities alike, say attorneys at Simpson Thacher.

  • Series

    Why I Became A Lawyer: Being There For Families In Trouble

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    My parents' contentious, drawn-out divorce was one of the worst experiences of my life. But it taught me how to be resilient — and ultimately led me to leave corporate litigation for a career in family law, helping other families during their own difficult times, says Sheryl Seiden of Seiden Family Law.

  • 3 Legal Developments Calif. Real Estate Brokers Should Know

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    Two noteworthy state court decisions and a new worker classification law are among recent developments in California that affect housing and real estate law. Notably, they mirror issues roiling other legal practice areas, says Mark Loeterman of Signature Resolution.

  • Opinion

    NYC Needs A Better Approach To Regulating Biometric Data

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    A more measured alternative to New York City's recently proposed biometric data regulation law would require residential building owners to provide the city with information about their biometric information gathering practices, says Stuart Brotman of the Woodrow Wilson International Center for Scholars.