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Real Estate
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September 13, 2024
NJ Jury Puts $26M Price Tag On Land In Development Battle
A New Jersey federal jury found that the owner of a 22-acre former Michelin Tire & Rubber Co. factory at the heart of a land-taking battle should get $25.6 million from a borough redevelopment agency that argued the parcel would fetch less than a third of that figure on the market.
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September 13, 2024
Real Estate Recap: Foreclosure Legal Fees, Climate Resilience
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including trends in legal fees from commercial mortgage foreclosures and insights into property resilience in areas affected by extreme weather events.
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September 13, 2024
NC City Illegally Foiled Affordable Housing Effort, Builder Says
A coastal North Carolina city conspired to block an affordable housing project near the Camp Lejeune military base, flying in the face of demand, a project developer claimed in North Carolina federal court.
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September 13, 2024
Holland & Hart Adds Land Use Atty In Colorado
Holland & Hart LLP has brought a new partner into its Denver office, further building out its land use and real estate development offerings.
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September 13, 2024
Conn. Panel Spurns Atty's Bid For More ID Theft Damages
An attorney whose professional credentials were stolen by scammers can get triple damages under Connecticut's identity theft protection statute but can't simultaneously fetch compensation under the state's unfair trade practices law, the state appeals court ruled Friday.
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September 13, 2024
9th Circ. Ruling Guts Religious Protections, Apaches Say
The U.S. Supreme Court should stop the federal government from handing over a sacred tribal site in Arizona's Tonto National Forest to a copper mining joint venture owned by Rio Tinto and BHP, the San Carlos Apache Tribe argued, saying that the decision could pose an "existential threat" to Native Americans.
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September 13, 2024
Trio Of BigLaw Mergers Expected To Drive More Deal Talks
After months of a relatively steady pace of law firm mergers and acquisitions, the trio of proposed BigLaw tie-ups announced in recent days will likely spur more firms toward entertaining similar deal talks, experts say. Here, Law360 offers a snapshot of the proposed deals.
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September 13, 2024
Mortgage Co. CEO Gets 11 Years In Prison For Ponzi Scams
A mortgage company owner was sentenced Thursday to 11 years and three months in prison for defrauding investors, a community bank and the government's pandemic relief program to cover gambling debts and personal expenses like luxury cars, Philadelphia's top federal prosecutor announced.
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September 13, 2024
Holland & Knight RE Pro Joins Haynes Boone In Dallas
A former Holland & Knight LLP attorney whose practice centers on real estate finance and commercial real estate has come aboard at the Dallas office of Haynes and Boone LLP, marking the eighth lawyer to join the firm's real estate practice group this year, the firm announced this week.
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September 13, 2024
Property Developer Claims To Be Target Of Legal 'Vendetta'
The director of a defunct property developer has hit back against a claim that accuses him of breaching his duties to the company, as he argued that the "vexatious" case was brought as part of a "vendetta" by his former co-directors.
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September 13, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen a football agent sue Chelsea FC after being cleared of allegations he threatened the club’s former director, an ongoing patent dispute between Amgen and Regeneron Pharmaceuticals, and a private school in Edinburgh suing Riverstone Insurance over compensation claims tied to historical abuse allegations made by former pupils. Here, Law360 looks at these and other new claims in the U.K.
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September 12, 2024
RealPage Win On Phishing Recovery A Policyholder Boon
A federal judge's holding that an AIG unit cannot lay claim to RealPage's recoveries of phishing losses that it did not originally insure is a win for policyholders as disputes over cyber loss coverage and related subrogation become more common, experts told Law360.
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September 12, 2024
Steward Health Care CEO Faces Contempt For No-Show
A Senate committee said it would vote next week to hold now-bankrupt Steward Health Care CEO Dr. Ralph de la Torre in contempt after he failed to comply Thursday with a subpoena ordering him to testify at a hearing.
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September 12, 2024
NewRiver REIT Gets 2nd Extension To Bid For UK Mall Owner
Shopping center owner Capital & Regional PLC said Thursday that the Panel on Takeovers and Mergers has granted its request to allow NewRiver REIT PLC more time to make or cancel a formal offer for Capital & Regional's biggest shareholder Growthpoint Properties Ltd.
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September 12, 2024
UK Watchdog Waters Down New Capital Rules For Banks
The Prudential Regulation Authority published Thursday the second part of its rules on capital requirements for banks and has delayed their implementation by six months to the beginning of 2026.
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September 12, 2024
Madison Realty Lands $2B For Latest Real Estate Debt Fund
Madison Realty Capital wrapped up its sixth real estate debt fund with $2.04 billion, in what the private equity firm said Thursday marks the largest such fund raised in the U.S. so far this year.
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September 11, 2024
Litigation Spending To Rise As Cases Grow More Aggressive
A substantial number of large companies are expecting to increase their litigation spending by double digits next year in the face of more complex and hard-fought cases — and they are more open to bringing in new legal talent to navigate the matters, according to a report released Thursday.
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September 11, 2024
Top DC Real Estate News From Summer 2024
Catch up on the hottest real estate news out of Washington, D.C., this summer, including shifting office footprints and building conversion incentives.
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September 11, 2024
Gov't Spent $236B In Fraud And Improper Payments In 2023
Federal agencies made $236 billion in improper payments in fiscal 2023, a drop of about $11 billion from the prior year, according to a report released Tuesday by the U.S. Government Accountability Office.
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September 11, 2024
Wisconsin Town Urges Court to Block Tribe's Road Barricades
The town of Lac Du Flambeau, Wisconsin, says it will continue suffering irreparable harm when temporary right-of-way permits expire Thursday if a neighboring Native American band again barricades four roadways that cut across tribal land.
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September 11, 2024
NJ Real Estate Vet Jumps From Windels Marx To Clark Hill
Clark Hill is growing its real estate team in New Jersey with a new member from Windels Marx whose 30-year career in the industry includes work on massive projects at the state's Meadowlands complex and, more recently, representing clients in the pharmaceutical and cannabis industries, among others.
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September 11, 2024
Phelps Dunbar Recruits 6 Litigators In Raleigh
Phelps Dunbar LLP has hired six lawyers in Raleigh to serve the business and litigation needs of companies in North and South Carolina, adding strength in health care, construction, employment and intellectual property.
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September 11, 2024
Minn. Homebuilders Pitch Permit Fee 'Catch-22' To High Court
A trade group of Minnesota homebuilders has asked the U.S. Supreme Court to review a lower court ruling on building permit fees imposed by two cities, arguing the ruling has created a Catch-22 by dismissing a Fifth Amendment takings clause claim before any court has determined whether the permit fees are valid under state law.
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September 11, 2024
Dickson Minto Breaks Tradition With Walker Morris Hire
Dickson Minto is breaking with its long tradition of virtually exclusively promoting partners from within its ranks by tapping into the lateral hiring market to rebuild its London offering, the Scottish firm's boss told Law360 Wednesday as the firm brings on a real estate veteran from Walker Morris LLP.
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September 11, 2024
Jones Day Litigators Jump To Holland & Knight In Mexico City
Holland & Knight LLP has hired two lawyers from Jones Day for its Mexico City office, where they will handle a sharp increase in litigation and arbitration cases in the country.
Expert Analysis
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Navigating A Potpourri Of Possible Transparency Act Pitfalls
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.
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Series
After Chevron: Conservation Rule Already Faces Challenges
The Bureau of Land Management's interpretation of land "use" in its Conservation and Landscape Health Rule is contrary to the agency's past practice and other Federal Land Policy and Management Act provisions, leaving the rule exposed in four legal challenges that may carry greater force in the wake of Loper Bright, say Stacey Bosshardt and Stephanie Regenold at Perkins Coie.
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DOJ Must Overcome Hurdles In RealPage Antitrust Case
The U.S. Department of Justice's recent claims that RealPage's pricing software violates the Sherman Act mark a creative, and apparently contradictory, shift in the agency's approach to algorithmic price-fixing that will face several key challenges, say attorneys at Clifford Chance.
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Keys To Successful Commercial Property Insurance Claims
Excerpt from Practical Guidance
While insurance needs for commercial leasing arrangements are driven by the characteristics of the premises and the nature of the tenants' intended operations, there are several universal best practices landlords and their counsel can follow when making claims after loss or damage.
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How Companies Are Approaching Insider Trading Policies
An analysis of insider trading policies recently disclosed by 49 S&P 500 companies under a new U.S. Securities and Exchange Commission rule reveals that while specific provisions vary from company to company, certain common themes are emerging, say attorneys at Gibson Dunn.
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Tips For Handling Single Asset Real Estate Bankruptcy Cases
Excerpt from Practical Guidance
Bankruptcy counsel should consider several strategies when representing either a debtor or lender in single asset real estate debtor Chapter 11 cases, which generally arise when a debtor is forced to file for relief to stop an impending foreclosure sale.
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What To Know About CFPB Stance On Confidentiality Terms
A recent circular from the Consumer Financial Protection Bureau represents a growing effort across government agencies to address overbroad confidentiality agreements, and gives employers insight into the bureau's perspective on the issue as it relates to the Consumer Financial Protection Act, say Holly Williamson and Elizabeth King at Hunton.
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How Methods Are Evolving In Textualist Interpretations
Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.
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What's Next For Federal Preemption In Financial Services
The Office of the Comptroller of the Currency's review of its preemption interpretations and growing pressure from state regulators signal potential changes ahead for preemption in U.S. financial services, and the path forward will likely involve a reevaluation of the entire framework, say attorneys at Clark Hill.
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Increased Scrutiny Raises Int'l Real Estate Transaction Risks
Recently proposed regulations expanding the Committee on Foreign Investment in the United States' oversight, a White House divestment order and state-level legislative efforts signal increasing scrutiny of real estate transactions that may trigger national security concerns, say Luciano Racco and Aleksis Fernández Caballero at Foley Hoag.
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Financial Incentives May Alleviate Affordable Housing Crisis
There is a wide array of financial incentives and assistance that the government can provide to both real estate developers and individuals to chip away at the housing affordability problem from multiple angles, say Eric DeBear and Madeline Williams at Cozen.
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Why Attorneys Should Consider Community Leadership Roles
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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5 Tips To Succeed In A Master Of Laws Program And Beyond
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.
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Opinion
Portland's Gross Receipts Tax Oversteps City's Authority
Recent measures by Portland, Oregon, that expand the voter-approved scope of the Clean Energy Surcharge on certain retail sales eviscerate the common meaning of the word "retail" and exceed the city's chartered authority to levy tax, say Nikki Dobay at Greenberg Traurig and Jeff Newgard at Peak Policy.