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Real Estate
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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.
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April 04, 2024
Ex-NY Court Atty Found Guilty Of Official Misconduct
A New York state jury on Thursday found a former appeals court attorney guilty of official misconduct for using her position to provide a legal opinion that helped her husband and his law firm secure a $55,000 payment from a new client.
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April 04, 2024
Real Estate Fraudster Wins 3rd Circ. Bid To Testify
The real estate agent who helped ex-NFL player Irving Fryar in a scheme to defraud several banks out of $1 million in mortgages was wrongly denied the ability to testify on his own behalf at a hearing over alleged violations of his supervised release, the Third Circuit ruled in a precedential opinion Thursday.
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April 04, 2024
MLB's Athletics To Play In Sacramento Before Move To Vegas
The Oakland Athletics will play the 2025 to 2027 seasons in Sacramento's 14,000-capacity minor-league ballpark while their planned stadium in Las Vegas is built, the franchise and Major League Baseball announced Thursday morning, officially making this season the team's last in Oakland after 57 years.
Expert Analysis
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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.
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Series
ESG Around The World: South Korea
Numerous ESG trends have materialized in South Korea in the past three years, with impacts ranging from greenwashing prevention and carbon neutrality measures to workplace harassment and board diversity initiatives, say Chang Wook Min and Hyun Chan Jung at Jipyong.
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General Counsel Need Data Literacy To Keep Up With AI
With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.
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Illinois Trump Tower Ruling Illuminates Insurance 'Occurrence'
In Continental Casualty v. 401 North Wabash Venture, an Illinois appellate court found that Trump Tower was not entitled to insurance coverage for operating its HVAC system without a permit, helping to further define a widely litigated general liability insurance issue — what constitutes an "occurrence," say Robert Tugander and Greg Mann at Rivkin Radler.
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A Look At Successful Bid Protests In FY 2023
Attorneys at Sheppard Mullin look beyond the statistics in the U.S. Government Accountability Office’s recent annual report on bid protests, sharing their insights about nine categories of sustained protests, gained from reading every fiscal year 2023 decision in which the protester had a positive result.
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A Bird's Eye View Of NYC's New Parapet Inspection Law
Building owners in New York City should be ready for the city's new parapet inspection requirements going into effect in January, which will likely necessitate additional construction work for countless buildings not previously subject to formal inspections, says Benjamin Fox Tracy at Braverman Greenspun.
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AI Isn't The Wild West, So Prepare Now For Bias Risks
In addition to President Joe Biden's recent historic executive order on safe, secure and trustworthy artificial intelligence, there are existing federal and state laws prohibiting fraud, defamation and even discrimination, so companies considering using or developing AI should take steps to minimize legal and business risks, says civil rights attorney Farhana Khera.
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Navigating Discovery Of Generative AI Information
As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.
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Finding Focus: Strategies For Attorneys With ADHD
Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.
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AI's Baked-In Bias: What To Watch Out For
The federal AI executive order is a direct acknowledgment of the perils of inherent bias in artificial intelligence systems, and highlights the need for legal professionals to thoroughly vet AI systems, including data and sources, algorithms and AI training methods, and more, say Jonathan Hummel and Jonathan Talcott at Ballard Spahr.
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How Fla. Bankruptcy Ruling May Affect Equity Owners
A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.
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Calif. Ruling May Open Bankruptcy Trustees To Tort Liability
In Martin v. Gladstone, a recent California appellate court decision, the application of tort concepts to bankruptcy trustees could pose a new concern for trustees and federal receivers when controlling and maintaining commercial property, says Jarrett Osborne-Revis at Buchalter.
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5th Circ. Ruling May Beget Fraud Jury Instruction Appeals
The Fifth Circuit’s recent U.S. v. Greenlaw decision, disapproving disjunctive fraudulent-intent jury instructions, will likely spawn appeals in mail, wire and securities fraud cases, but defendants must show that their deception furthered ends other than taking the victim's property, says Charles Fowler at McKool Smith.