Real Estate

  • April 12, 2021

    NY Judge To Freeze Accounts Tied To 'Missing' Atty's Firm

    A New York state judge on Monday moved to freeze multiple bank accounts associated with Manhattan real estate firm Kossoff PLLC after numerous clients came forward last week claiming that managing partner Mitchell Kossoff is missing, along with millions in their funds.

  • April 12, 2021

    Wis. Can Tax Tribal Land After Sale To Non-Indians

    A Wisconsin federal judge has ruled that the state generally can't tax Indian-owned land on four Chippewa tribes' reservations, but also said that such land can be taxed once it's sold to non-Indians, even if tribe members eventually buy it back.

  • April 12, 2021

    Couple To Pay $1.6M In EB-5 Visa Fraud Case

    A California federal court issued a writ of execution for $1.6 million Monday against a couple accused of conning a would-be EB-5 investor out of $1.5 million in the latest twist in the long-running fraud suit.

  • April 12, 2021

    Mohawk Gaming Cites New Ruling In COVID Coverage Case

    Casino owner Mohawk Gaming Enterprises LLC has asked a New York federal judge overseeing its lawsuit for COVID-19 insurance coverage to take into account another district judge's recent ruling in a commercial landlord's suit seeking payment from its insurer for pandemic-related losses.

  • April 12, 2021

    Chase Agrees To Pay $11.5M To End Escrow Interest Suit

    JPMorgan Chase Bank NA has agreed to pay $11.5 million to end a proposed class of homeowners' claims that the bank failed to pay interest on funds held in escrow for mortgages as required by certain state laws, which, if approved, would end the suit in federal court on Long Island.

  • April 12, 2021

    Real Estate Rumors: Iron River, Accurate Builders, Estate Cos.

    An Iron River Management affiliate has reportedly sold a Florida apartment complex for $40.2 million, Accurate Builders and Developer is said to have landed $145.7 million in financing for two New Jersey residential projects, and Estate Cos. has reportedly scored nearly $29.5 million in financing for a project to convert a shuttered Florida hotel into apartments.

  • April 12, 2021

    Brandywine Sues For Cleanup Coverage After Virus Cases

    A Philadelphia-area realty trust filed suit in state court on Friday looking to hold Zurich American Insurance Co. liable for hundreds of thousands of dollars in decontamination costs it incurred after COVID-19 cases were confirmed at a dozen of its properties over the past year.

  • April 12, 2021

    UK Office, Retail Properties Trade Hands For $82M

    A portfolio of U.K. office and retail properties that had been partly owned by LondonMetric has traded hands for £59.6 million ($81.9 million), according to an announcement Monday from the U.K. real estate investment trust.

  • April 12, 2021

    Ex-NFLer Settles 'Dream Home' IP Case Before Trial

    After four years of contentious litigation, a former New England Patriots linebacker and the builder he said tried to violate his copyright on a "dream home" settled Monday just hours before a bench trial was set to kick off.

  • April 09, 2021

    Feds Drop Criminal Charges In Alleged Fintech Fraud Scheme

    Federal prosecutors on Friday sought to drop wire fraud and securities fraud charges against a former financial planner, noting that his alleged co-conspirator had been pardoned by former President Donald Trump.

  • April 09, 2021

    Manhattan DA Investigating 'Missing' NYC Real Estate Atty

    The Manhattan District Attorney's Office is investigating a city real estate attorney who has allegedly gone missing along with millions in client funds, a source familiar with the probe told Law360.

  • April 09, 2021

    Texas Justices End Farmers Policy Renewal Fight

    The Supreme Court of Texas has ruled that Farmers Group Inc. did nothing wrong in replacing more comprehensive homeowners policies with narrower ones, reversing an intermediate appellate court's ruling in favor of the policyholders and sending the case back to the trial court for further proceedings. 

  • April 09, 2021

    Jury Awards $1.9M In Construction Insurance Coverage Suit

    An Illinois federal jury awarded roughly $1.9 million to a construction company after finding United Fire & Casualty Insurance Co. breached its fiduciary duty and acted in bad faith when defending the company in an underlying lawsuit.

  • April 09, 2021

    NY Landlord Must Face Tenants' Rent Suit, NY Court Says

    A Brooklyn landlord must face a putative class action from tenants accusing the owner of reporting rents that were higher than what was charged as a way to skirt rent stabilization obligations while still accepting property tax breaks.

  • April 09, 2021

    Medical Pot Co. Sues Detroit Over School Zoning Decision

    A medical marijuana company has filed suit Thursday against the city of Detroit, alleging it wrongfully denied the company permission to operate a facility when it ruled that the proposed facility was too close to a Roman Catholic parochial school.

  • April 09, 2021

    Morgan Lewis Sues Pierce Bainbridge For $436K Unpaid Rent

    Morgan Lewis & Bockius LLP has alleged in California state court that Pierce Bainbridge PC and its predecessor firm owe nearly a year's worth of rent for office space in a commercial building in downtown Los Angeles.

  • April 09, 2021

    Texas Justices Let Apache Arbitrate $15M Settlement Fight

    Apache Corp. can arbitrate a dispute over $15 million in attorney fees and settlement costs related to third-party lawsuits after an oil and gas asset sale, the Texas Supreme Court held Friday.

  • April 09, 2021

    Wolf Haldenstein Sues NY Landlord For Breach Of Contract

    Class action firm Wolf Haldenstein Adler Freeman & Herz LLP is suing its New York landlord over an alleged breach of contract, claiming that it has failed to make building renovations required under a lease agreement and that the firm has no obligation to pay base rent until those are near completion.

  • April 09, 2021

    Real Estate Rumors: Power Petroleum, NorthBridge, Merrimac

    Power Petroleum has reportedly paid $11.25 million for a Florida gas station and retail building, NorthBridge Partners is said to have paid $21 million for a Maryland development site and Merrimac Ventures is reportedly hoping to build 716 residential units in Florida.

  • April 09, 2021

    Johnson Controls Inks Up To $870M Deal For Data Center Co.

    Irish building security, fire safety and heating, ventilating and air conditioning company Johnson Controls plans to acquire Canadian hyperscale data center company Silent-Aire in a Cleary Gottlieb-advised deal worth up to $870 million, the companies announced Friday.

  • April 09, 2021

    Sidley, Greenberg Traurig Steer $62M Manhattan Loan

    Sidley Austin represented Citibank in connection with a $62 million loan for a commercial property on Fifth Avenue in Manhattan to a Greenberg Traurig-counseled A&R Kalimian Realty entity, according to records made public in New York on Friday.

  • April 08, 2021

    Calif. Gov. Newsom Reveals $536M Wildfire Prevention Plan

    After the state's worst wildfire season in modern history, California Gov. Gavin Newsom and other lawmakers announced a $536 million proposal on Thursday that aims to bolster wildfire response and prevention efforts in the Golden State.

  • April 08, 2021

    Banks Can't Duck Foreclosure Claim Rooted In Fraud Scheme

    An Illinois state court judge refused Thursday to let two banks dodge claims a former bank CEO's trust launched to take lien priority and foreclose a mortgage it lent to a former money manager who's serving 16 years after defrauding the trust for a decade.

  • April 08, 2021

    Bitcoin Mining Co. Riot Bets $651M On Hosting Facility Owner

    Bitcoin mining business Riot Blockchain said Thursday that it's agreed to purchase a Bitcoin hosting facility operator from German rival Northern Data in a roughly $651 million deal directed by Sidley Austin and Sullivan & Cromwell.

  • April 08, 2021

    Attys Flagged For Fights In Ex-NFLer's 'Dream Home' IP Suit

    A federal judge about to referee a trial over a former NFL linebacker's "dream home" expressed frustration Thursday with a blitz of last-minute motions and years of lawyer spats in what has been a messy copyright suit.

Expert Analysis

  • Partial Repeal Could Resolve Biden's SALT Cap Dilemma

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    Lawmakers' calls to repeal the cap on federal deductions for state and local taxes are controversial because doing so could cost over $600 billion, but a partial repeal could be accomplished on a revenue-neutral basis, providing relief to some, if not most, affected taxpayers, says Joseph Mandarino at Smith Gambrell.

  • What Associates Should Consider Before Switching Practices

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    The current high demand for midlevel associates provides them a rare opportunity to potentially explore new practice areas, but associates should first ask themselves six questions to begin figuring out why a change sounds appealing, says Stephanie Biderman at Major Lindsey.

  • 4 Effective Ways To Prioritize Client Advocacy

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    To truly support a client going through a complicated lawsuit or a painful experience, lawyers must think beyond interpreting legal guidelines and navigating court proceedings, says attorney Scott Corwin.

  • Remote Law Firm Culture Should Prioritize Associate Training

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    Due to the pandemic, the gap between law school and the first day on the job has never been wider, but law firms can leverage training to bridge that intimidating gap and convey the unique value of their culture in a virtual environment, say Melissa Schwind at Ward and Smith, and William Kenney and Jaron Luttich at Element Standard.

  • Opinion

    Why CFPB's Disposal Of Supervisory Tool Is Problematic

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    The Consumer Financial Protection Bureau’s recent elimination of supervisory recommendations that provide financial institutions feedback on compliance deficiencies is concerning and suggests the CFPB is clearing away obstacles to its discretion to invent, as well as enforce, the law, say Eric Mogilnicki and Jeremy Newell at Covington.

  • Virtual Litigation May Unravel The Narcissistic Lawyer

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    The virtual courtroom limits a narcissistic lawyer's ability to intimidate witnesses and opposing counsel, boast to clients or engage in grandstanding — an unexpected benefit of the global pandemic as some aspects of remote litigation are likely here to stay, says Jennifer Gibbs at Zelle.

  • Rewriting Contracts For The Post-Pandemic Era

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    Attorneys at Eversheds Sutherland identify key contract provisions that have caused consternation, frustration and litigation during the COVID-19 pandemic and suggest possible alternative provisions for future contracts.

  • ABA Remote Work Guide Raises Bar For Atty Tech Know-How

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    A recent American Bar Association opinion on lawyers' ethical duties of competence and confidentiality when working remotely should be viewed as part of a larger movement by which attorneys are being exhorted to develop competence in 21st century technology, say Jennifer Goldsmith at Ironshore and Barry Temkin at Mound Cotton.

  • How NY's Cannabis Legalization Act Prioritizes Equity

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    Elements of New York's recently passed Marijuana Regulation and Taxation Act, such as its prohibition of vertically integrated operators, show consideration for social and economic equity in the new industry, says Simon Malinowski at Harris Bricken.

  • Lateral Hire Conflict Screening Lessons From DLA Piper Case

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    While a Texas federal court recently denied a motion to disqualify DLA Piper from representing Apple in a patent dispute after the law firm hired an attorney who formerly represented opponent Maxwell, the case is a reminder that robust conflict checks during lateral hiring can save firms the time and expense of defending disqualification motions, says Hope Comisky at Griesing Law.

  • Insurers May Be Estopped From Relitigating Pandemic Issues

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    The doctrine of offensive collateral estoppel may support policyholders in pandemic-related litigation against insurers that have already lost lawsuits concerning similar issues, says Micah Skidmore at Haynes and Boone.

  • Opinion

    Florida Construction Defect Proposal Unfair To Homeowners

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    Proposed changes to Florida’s Chapter 558 notice process would require homeowners alleging construction defects to clear costly hurdles and sign perjury penalty acknowledgements, which would favor builders by discouraging suits seeking recovery, say Nick Vargo and Greg Demers at Ball Janik.

  • Oil And Gas Contract Drafting Lessons From Texas Ruling

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    The recent Texas Supreme Court opinion in BlueStone Natural Resources II v. Randle makes it clear that when drafting oil and gas leases, parties should explicitly state contract terms — and avoid creating contradictory terms through amendments or addenda, say Kenneth Held and Brent Hanson at Skadden.

  • 3 Cybersecurity Questions To Ask Before A Remote Mediation

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    Lawyers preparing to mediate or arbitrate a case through videoconference should take steps to ensure they and their alternative dispute resolution providers are employing reasonable security precautions to protect digital client data and conform to confidentiality obligations, say F. Keith Brown and Michael Koss at ADR Systems.

  • Cybersecurity Considerations After NY Lender's Data Breach

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    The New York Department of Financial Services’ recent enforcement action against Residential Mortgage Services for inadequately responding to a cybersecurity breach is instructive for financial institutions evaluating existing data security safeguards, refining their compliance programs and preparing for regulatory examinations, say attorneys at Arnold & Porter.

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