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Real Estate
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April 08, 2024
Oak Flat Mining Decision Treads On Human Rights, UN Told
The San Carlos Apache Tribe is urging a United Nations committee to ask the United States to withhold any permissions that would allow Resolution Copper Co. to proceed with any activity on a plot of land known as Oak Flat, arguing that a Ninth Circuit ruling allowing the land transfer merits urgent intervention to prevent further human rights violations on the sacred site.
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April 08, 2024
Atlantic City Hotels Say Gov't Backing Can't Save Pricing Suit
Atlantic City casino-hotels continue to push a New Jersey federal judge to toss room rate price-fixing allegations they say get no help from a U.S. Department of Justice and Federal Trade Commission intervening brief that argued algorithmic collusion is just as liable under antitrust law.
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April 08, 2024
GRSM50 Adds 3rd Construction Pro From Sandberg Phoenix
Gordon Rees Scully Mansukhani LLP, now known as GRSM50, continued recent growth in its construction practice group Monday with the hire of two new partners joining the nationwide firm in its St. Louis and Tampa, Florida, offices from Sandberg Phoenix & von Gontard PC.
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April 08, 2024
Atty Can't Slip Willkie Partner's Suit Over NY Post Story
A Connecticut federal judge has declined to toss a Willkie Farr & Gallagher LLP partner's abuse of process case against a Constitution State attorney who allegedly orchestrated an unflattering New York Post article as retaliation for an underlying disqualification bid, ruling that the suit is not blocked by litigation privilege.
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April 08, 2024
3 Firms Build $2.3B Hospitality Biz SPAC Merger
Singapore-headquartered Hotel101 Global Pte Ltd., a hotel prop-tech operator pioneering a standardized "condotel" business model, announced Monday that it plans to go public through a merger with blank-check company JVSPAC Acquisition Corp. in a deal built by three firms that will give it an equity value of $2.3 billion post-closing.
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April 08, 2024
Simpson Reps Blackstone On $10B AIR Communities Buy
Blackstone has agreed to purchase Apartment Income REIT Corp. in a take-private transaction valued at approximately $10 billion, with Simpson Thacher & Bartlett LLP and Skadden Arps Slate Meagher & Flom LLP serving as legal counsel, respectively, the firms said Monday.
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April 05, 2024
Contractor Says Apartment Developer's Missteps Cost $8.5M
A general contractor has filed an $8.5 million lawsuit in North Carolina's Business Court accusing a developer of misleading it about an apartment complex project's safeguards and failing to cover the resulting cost overruns and delays.
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April 05, 2024
Real Estate Authority: Proxy Fights, EV Effect, CBRE Forecast
Law360 Real Estate Authority covers the most important real estate deals, litigation, policies and trends. Catch up on this week's key developments by state — as well as on the proxy fights in store for 2024, the impact of electric vehicles on development and predictions from CBRE Group Inc.'s global chief economist.
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April 05, 2024
DC Circ. Says DOJ Can Reopen Realtor Antitrust Probe
The D.C. Circuit said on Friday that the U.S. Department of Justice can reopen an antitrust investigation into the National Association of Realtors, despite an earlier agency settlement over the association's rules.
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April 05, 2024
NJ Recycler's Fire Damage Suit To Remain In NJ, Judge Rules
A New Jersey federal judge declined to move a paper recycler's fire coverage dispute to New York, but did agree to toss one of its claims against its insurer, finding the recycler's declaratory judgment and breach of contract claims were duplicative.
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April 05, 2024
Shelter Network Fights Public Camping Ban At High Court
A network of more than 200 women's and family shelters told the U.S. Supreme Court that an Oregon city's prohibition on camping in public spaces subjects involuntarily homeless women and children — who are often put in that position due to gender-based violence — to further potential harm.
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April 05, 2024
Pa. Supreme Court Snapshot: COVID Coverage Starts Spring
The Pennsylvania Supreme Court's April lineup will prepare the justices to deliver highly anticipated guidance on whether business losses stemming COVID-19 pandemic orders should be covered by insurance and if Pittsburgh can compel rental-property owners to register and undergo training.
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April 05, 2024
Homeowners' Energy Efficient Rebates Not Income, IRS Says
The U.S. Department of Energy rebates awarded to taxpayers who bought an energy efficient home or retrofitted their current residence to reduce energy consumption won't need to be reported in the property owner's gross income, the IRS announced Friday.
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April 05, 2024
Conn. Fraudulent Property Transfer Suit Against Atty Resolved
A New York doctor and the real estate attorney and developer he accused of transferring his Fairfield, Connecticut, property to benefit a scammer have resolved a federal lawsuit, agreeing to quiet the title and dismiss all other causes of action, following the reported settlement of a separate state court action.
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April 05, 2024
NC High Court Snapshot: Law Firm Battles Defamation Suit
The Supreme Court of North Carolina has a stacked calendar heading into spring arguments, from an appeal over Black-owned properties targeted for demolition to a law firm's attempt at dodging defamation claims over allegations of voter fraud.
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April 05, 2024
5th Circ. Won't Touch Texas Oil Export Terminal License
The Fifth Circuit has rejected environmentalists' attempt to undo federal approval for a deepwater oil export terminal off Texas' Gulf Coast, finding the U.S. Coast Guard adequately considered the environmental consequences of the facility in its environmental assessment.
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April 05, 2024
Chinese Insurer Awarded Nearly $15M Over Hotel Theft Suit
A California federal judge awarded a Chinese insurer nearly $15 million in damages after a man accused of conspiring to fraudulently claim ownership of New York City's JW Marriott Essex House Hotel and other luxury properties failed to appear in the action.
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April 05, 2024
Calif. Cannabis Delivery Workers Vote To Authorize Strike
California cannabis delivery company Eaze Technologies and its subsidiary Stachs LLC face a possible work stoppage just ahead of the April 20 weekend, after the union representing drivers announced they have rejected the companies' contract proposal and secured strike authorization from its members.
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April 04, 2024
Judge Punts 'Warning Shot' Condo Sale Bid In Giuliani Ch. 11
A New York bankruptcy judge held off on deciding if Rudy Giuliani must sell his Florida condo Thursday, cautioning attorneys for the former New York City mayor that the official committee of unsecured creditors might take more extreme steps in the Chapter 11 case if its concerns over Giuliani's expenses aren't addressed.
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April 04, 2024
Homeowner Asks 9th Circ. To Rethink Fire Coverage Ruling
A woman who was prevented from coverage of a 2021 house fire by the Ninth Circuit asked the court to rehear her case, arguing among other things that she did not lie to her insurer about renting her home, because she didn't fill out the insurance application.
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April 04, 2024
ISP Tells FCC Bulk Billing Deals Are Pro-Consumer
An internet service provider is trying to convince the Federal Communications Commission that banning bulk billing in apartment buildings is not the way to go and that the arrangements are actually a "key tool for closing the digital divide."
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April 04, 2024
Texts Were Intentionally Deleted In Hotel Suit, Investors Say
Two investors have urged a Florida state court to impose severe penalties on the managers of a hotel enterprise after WhatsApp text messages in a $15 million lawsuit were allegedly deleted intentionally, saying the communications were critical to proving that their equity interests were wrongly taken from them.
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April 04, 2024
FDIC Reports Discriminatory Lending At SouthStar Bank
The Federal Deposit Insurance Corp. has downgraded SouthStar Bank's community lending rating, reporting that a review of the institution's lending practices revealed evidence of redlining, according to an evaluation released by the agency.
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April 04, 2024
Ginnie Mae, HUD Must Face Bank's Vacated Lien Suit
A Texas federal judge trimmed but declined to dismiss Texas Capital Bank's suit against the U.S. Department of Housing and Urban Development and its Government National Mortgage Association program over a vacated loan lien that the bank says was worth tens of millions of dollars.
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April 04, 2024
NY AG Wants Trump Insurer To Guarantee $175M Bond
New York Attorney General Letitia James asked a Manhattan judge Thursday to make sure the California insurer that agreed to post Donald Trump's $175 million bond in his civil business fraud case can actually pay.
Expert Analysis
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A Year-End Look At Florida's Capital Investment Tax Credit
Notwithstanding the Walt Disney Co.’s feud with Gov. Ron DeSantis this year, Florida's capital investment tax credit will continue to make the state a favored destination for large corporations, particularly in light of the new federal alternative minimum tax and the Pillar Two top-up tax, says Alan Lederman at Gunster.
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Understanding Discovery Obligations In Era Of Generative AI
Excerpt from Practical Guidance
Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.
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Navigating USCIS' New Minimum EB-5 Investment Period
Recent significant modifications to U.S. Citizenship and Immigration Services’ EB-5 at-risk requirement are causing uncertainty for several reasons, but investors who consider certain key aspects of prospective projects can mitigate the immigration and investment risks, say Samuel Silverman at EB5AN, Ronald Klasko at Klasko Immigration, and Kate Kalmykov at Greenberg Traurig.
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Series
ESG Around The World: Mexico
ESG has yet to become part of the DNA of the Mexican business model, but huge strides are being made in that direction, as more stakeholders demand that companies adopt, at the least, a modicum of sustainability commitments and demonstrate how they will meet them, says Carlos Escoto at Galicia Abogados.
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Crypto Has Democratized Trading In Bankruptcy Claims
Following the pandemic, there has been a wave of cryptocurrency bankruptcies and a related increase in access to information, allowing nontraditional bankruptcy investors to purchase claims and democratizing a once closed segment of alternative investing, says Joseph Sarachek at Strategic Liquidity.
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The Case For Post-Bar Clerk Training Programs At Law Firms
In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.
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Attorneys Have An Ethical Duty To Protect The Judiciary
The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.
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Paths Forward For RE Buyers In Turbulent Market Conditions
Real estate borrowers are facing significant challenges in financing new acquisitions or developments amid escalating interest rates, but opportunistic debt funds may be able to help bridge through the present environment, say Jon Gallant and Jared Hodges at Knowles Gallant.
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DC Ruling Provides Support For Builders Risk Claim Recovery
To deny coverage for builders risk claims, insurers have been increasingly relying on two arguments, both of which have been invalidated in the recent U.S. District Court for the District of Columbia decision, South Capitol Bridgebuilders v. Lexington, say Greg Podolak and Cheryl Kozdrey at Saxe Doernberger.
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What NJ's Green Remediation Guidance Means For Cleanups
Recent guidance from the New Jersey Department of Environmental Protection promoting greener approaches to restoring contaminated sites demonstrates the state's commitment to sustainability and environmental justice — but could also entail more complexity, higher costs and longer remediation timelines, say J. Michael Showalter and Bradley Rochlen at ArentFox Schiff.
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A New Path Forward For Surplus Land Owners In Calif.
A new California law signed last month enables some religious institutions and nonprofit colleges to build affordable housing on surplus land, and its requirements — which are more manageable than they may appear — will support long-term benefits including good housing and the survival of worthy institutions, says Stephen Wilson at Withers.
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AI Can Help Lawyers Overcome The Programming Barrier
Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.
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Inside Bank Regulators' Community Lending Law Overhaul
The federal banking agencies' recently finalized changes to the Community Reinvestment Act not only account for the gradual shift to an environment where lending and deposit-taking are primarily conducted online, but also implement other updates such as diversity initiatives and a new series of lending tests, say attorneys at Norton Rose.
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Preparing Law Students For A New, AI-Assisted Legal World
As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.
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Sellers Seeking Best Deal Should Focus On Terms And Price
Rising interest rates and a decline in the automotive mergers and acquisitions market mean that a failed deal carries greater stakes, and sellers therefore should pursue not only the optimum price but also the optimum terms to safeguard their agreement, says Joseph Aboyoun at Fox Rothschild.