Real Estate

  • October 11, 2019

    Bear Stearns, Reed Smith Settle $500M Malpractice Suit

    Two now-defunct Bear Stearns investment funds have agreed to end a malpractice suit in New York court accusing Reed Smith LLP of bungling its representation of the funds to the tune of half a billion dollars during a suit against ratings agencies.

  • October 11, 2019

    NJ Atty Disbarred For Using Funds With 'Reckless Abandon'

    The New Jersey Supreme Court has disbarred a real estate attorney for misusing about $186,000 in client funds with "reckless abandon" after purportedly depositing the money in his personal checking account and then using it on personal expenses like jet travel and hotel stays.

  • October 11, 2019

    Real Estate Developer Settles Spam Text Suit For $1.5M

    A real estate investment management company has agreed to pay $1.5 million to put to bed a proposed class action accusing it of sending more than 100,000 spam text messages promoting its rental apartments, according to documents filed in Florida federal court. 

  • October 11, 2019

    OCC Fines Citibank $30M Over Foreclosed Property Handling

    Citibank NA has been fined $30 million by the Office of the Comptroller of the Currency for what the agency said were violations related to rules on how long banks can hold foreclosed property, also known as “other real estate owned,” or OREO.

  • October 11, 2019

    Real Estate Rumors: Peachtree Hotel, Ross, Longpoint

    Peachtree Hotel Group has reportedly landed nearly $23 million in financing for a Florida project, Ross Dress for Less is said to be leasing more than 34,000 square feet in downtown Miami and Longpoint Realty is said to have dropped $6.3 million on a Miami warehouse.

  • October 11, 2019

    No Exit For Timeshare Atty In Wyndham's False Ad Suit

    An attorney accused of co-running a bogus timeshare exit scheme can't dismiss Wyndham's suit, a Florida federal judge ruled, holding that the hotel giant sufficiently showed that the attorney and others duped owners to default on their financial obligations.

  • October 11, 2019

    Hill Wallack Builds Condo Group With 4 Attys, New Office

    Hill Wallack LLP has bolstered its community associations group with the addition of four attorneys in a new location that builds the firm’s southern New Jersey imprint and expands manpower in a growing practice area, firm leaders said.

  • October 11, 2019

    NJ Biz Can’t Appeal $4.5M Property Value, Appeals Court Says

    A New Jersey property owner cannot contest a city tax assessor’s $4.5 million valuation of its property because the previous owner did not timely provide requested income information for assessment purposes, a state appeals court said Friday.

  • October 11, 2019

    Despite Opposition, Akerman Gets Major Miami Project Zoned

    Akerman helped a trio of developers overcome a powerful group of local opponents during a two-year-long process to secure zoning approval for a massive 18-acre mixed-use project in Miami's Little Haiti neighborhood. 

  • October 11, 2019

    Injury Atty Indicted, Accused Of Trying To Hide $1M From IRS

    A Detroit-area personal injury attorney has been indicted in a Michigan federal court on 10 counts of tax evasion and tax fraud accusing him of trying to hide about $1 million from the IRS, the Department of Justice said Friday.

  • October 11, 2019

    Stockbridge Drops $104M On Bay Area Apartment Complex

    Real estate investor Stockbridge dropped $103.8 million on a San Jose, California, luxury apartment complex, Jones Lang LaSalle, which helped arrange the deal, said Friday.

  • October 11, 2019

    Ballard Spahr Brings Back Ex-Fannie Mae Public Finance Atty

    Ballard Spahr LLP has welcomed back a public finance attorney after his two-year stint at Fannie Mae, saying his experience with low-income tax credits and affordable multifamily housing development are a key addition to the firm’s public finance group.

  • October 11, 2019

    EB-5 Scheme Fundraiser To Pay $527K In SEC Deal

    An oil and gas official accused of fundraising for a visa fraud scheme that targeted Chinese citizens interested in obtaining an EB-5 investor visa will pay $527,000 under an agreement with the U.S. Securities and Exchange Commission.

  • October 11, 2019

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

    The past week has seen asset manager BlueCrest drag a U.S. hedge fund into court following its expansion into the U.K., a City watchdog sue a Panamanian connected to an illegal land sale scheme and a Hong Kong food distributor file suit against shipping giant MSC. Here, Law360 looks at those and other new claims in the U.K.

  • October 10, 2019

    Pot Co. Wants $7M Over Crop Lost By Locked Warehouse

    A California cannabis company allegedly changed the locks on a sub-tenant's growing warehouses after a rent dispute and cut its utilities, killing 11,500 square feet of marijuana plants, making off with $1.1 million and leaving behind a mite- and mold-infested ruin, according to a complaint filed in state court.

  • October 10, 2019

    Real Estate Rumors: JVM, Global Holdings, Lennar

    JVM Realty has reportedly bought an Illinois apartment complex from Opus Group, Global Holdings Management Group is said to be paying nearly $400 million for a New York apartment tower, and homebuilder Lennar has reportedly paid a PIMCO-managed entity $6.1 million for 50 Florida lots.

  • October 10, 2019

    Wash. Justices Side With T-Mobile In 9th Circ. Coverage Row

    Selective Insurance must cover T-Mobile's costs in a lawsuit alleging the telecom's antenna installation contractor damaged a building in Manhattan, a split Washington Supreme Court said Thursday, settling a critical issue at the center of a Ninth Circuit coverage dispute.

  • October 10, 2019

    11th Circ. Says NAACP's Fair Housing Act Suit Can Continue

    The NAACP can proceed with its Fair Housing Act suit alleging that a Georgia city's utility policies have disproportionately discriminated against African Americans and Latinos, the Eleventh Circuit ruled Thursday.

  • October 10, 2019

    DOJ, Realtors At Odds Over Earlier Deal In Antitrust Case

    An Illinois federal judge overseeing a case alleging the National Association of Realtors violated antitrust laws ruled Thursday that the U.S. Department of Justice can respond to what it says is the NAR's "incorrect portrayal" of a 2008 consent decree between the government and the association.

  • October 10, 2019

    2nd. Circ. Won't Unseal Names On Records In Trump Tax Case

    The Second Circuit refused on Thursday to order Deutsche Bank to reveal the names of individuals whose income tax returns it possesses relating to an investigation by House committees seeking President Donald Trump’s financial records, saying the information was irrelevant.

  • October 10, 2019

    Keystone Property Group Scores $66M Loan For NJ Complex

    Keystone Property Group has landed $66 million in financing for a Morristown, New Jersey, office complex, according to an announcement from lender 3650 REIT on Thursday.

  • October 10, 2019

    Deal In Nationstar Mortgage Tax Suit Gets Initial Approval

    A California federal judge has given initial approval to a deal struck between a proposed class of homeowners and a mortgage company formerly known as Nationstar to resolve claims of inaccurate information reporting that led to denials of tax credits.

  • October 10, 2019

    Convicted Ex-Philly Judge Can't Get Pension, Court Rules

    A Pennsylvania appeals court agreed on Wednesday that an ex-Philadelphia judge who was convicted four years ago of running a private real estate business out of his chambers was not entitled to receive his state pension.

  • October 09, 2019

    FERC Says DC Circ. Need Not Revisit Pipeline Appeal Delays

    The Federal Energy Regulatory Commission has urged the D.C. Circuit not to revisit its approval of a $1 billion Atlantic Sunrise pipeline project, saying the court got it right the first time when it upheld the commission's practice of stretching out the administrative appeals process for pipeline objections.

  • October 09, 2019

    Corestate Picks Up Berlin Office Property For $94M

    Corestate Capital has picked up an office property in Berlin for €86 million ($94.4 million), according to an announcement from the Germany-based real estate firm on Wednesday.

Expert Analysis

  • How Emotionally Intelligent AI Could Assist With E-Discovery

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    While artificial intelligence has already revolutionized the e-discovery field, the development of emotionally intelligent AI promises to explore data in an even more nuanced and human way, thereby further reducing the burden on legal teams, say Lisa Prowse and Brian Schrader at e-discovery services provider BIA.

  • How The Opportunity Zone Rules Can Work For Entrepreneurs

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    Recent guidance from the U.S. Department of the Treasury establishes three safe harbors businesses can satisfy to be considered as operating in an opportunity zone. Doug Jones at McGinnis Lochridge provides illustrative examples of what may turn out to be common fact patterns of entrepreneurs taking advantage of the program.

  • Despite Legalization, Marijuana Usage Is Risky For Ill. Tenants

    Excerpt from Lexis Practice Advisor
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    For many Illinois residents, the passage of the Cannabis Regulation and Tax Act was cause for celebration. However, the fact that marijuana remains illegal at the federal level, combined with the Illinois Eviction Act, means that marijuana use can still lead to eviction, says Richard Toboz of Heavner Beyers.

  • Chinese Acquisitions Even More Uncertain In New CFIUS Era

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    While hostility toward Chinese-led investment in U.S. companies is not new, the proposal expanding the Committee on Foreign Investment in the United States' authority to scrutinize such deals casts further doubt over how many inbound Chinese investments in the U.S. will actually close, says Jing Zhao at Saul Ewing.

  • Preventable Risks Your Law Firm May Be Overlooking

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    Although most lawyers are well-prepared to defend or justify the value of an insurance claim for clients, often law firms have not clearly identified their own potential liabilities, planned for adequate insurance or established prudent internal risk management practices, says Victor Sordillo at Sompo International.

  • 6 Ethics Tips For Attorneys Making Lateral Transfers

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    With lateral transfers between law firms on the rise, it is more important than ever for partners to understand the steps they must take to adhere to ethics rules and other requirements when making a transition, say attorneys at Harris Wiltshire.

  • High Court's Knick Ruling May Hinder Calif. Public Agencies

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    The U.S. Supreme Court's decision in Knick v. Scott allowing plaintiffs to file takings and inverse condemnation lawsuits in federal court may mean that California landowners no longer need to exhaust judicial remedies first, possibly discouraging public agencies from undertaking legal actions, says Gene Tanaka of Best Best.

  • CFPB Abusiveness Claims Aren't Dead Yet

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    Initially, it appeared that Consumer Financial Protection Bureau Director Kathy Kraninger would avoid abusiveness claims, but a recent supervisory finding and an enforcement action alleging a mortgage relief services provider misled consumers suggest that Kraninger will not be shy about using the agency’s abusiveness authority, says Ori Lev at Mayer Brown.

  • California Tax Takes: Unclaimed Property Amnesty May Return

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    Among several important California tax developments this month is a budget bill section, which could ultimately provide immunity for businesses that may want to disclose potential unclaimed property but have been reluctant to do so under California’s onerous penalty provisions, say attorneys at Reed Smith.

  • Consider The Power Of Tactical Empathy

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    By employing tactical empathy techniques to understand the interests behind the positions taken by others, attorneys can gain the upper hand in deal negotiations and litigation while still promoting and preserving long-term relationships with opponents, judges and others, say Shermin Kruse of TEDxYouth@Wrigleyville and Ursula Taylor of Strategic Health.

  • The Problem — And Opportunity — Of Implicit Bias In The Bar

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    Law firms are beginning to recognize implicit bias as a problem. But too few recognize that it is also an opportunity to broaden our thinking and become better legal problem solvers, says Daniel Karon of Karon LLC.

  • Series

    Judging A Book: Thapar Reviews Gorsuch's 'A Republic'

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    U.S. Supreme Court Justice Neil Gorsuch's new book "A Republic, If You Can Keep It" offers hope for our constitutional system through stories of American greatness, and sheds much-needed light on originalism for skeptics, says Sixth Circuit Judge Amul Thapar.

  • Opinion

    True Wellness Requires A Deeper Look At Atty Profession

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    While I applaud all of the law firms that have signed the American Bar Association's campaign to improve attorney well-being, to achieve a truly holistic solution we must ask difficult questions about what we do, how we do it and the expectations we have set for ourselves and our clients, says Edward Shapiro at Much Shelist.

  • HUD’s Disparate Impact Proposal Clarifies Fair Lending Laws

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    The U.S. Department of Housing and Urban Development’s recent proposal to revise the Fair Housing Act's disparate impact rule brings clarity for lenders and examiners in the wake of the U.S. Supreme Court’s Inclusive Communities decision, although the U.S. Consumer Financial Protection Bureau has yet to similarly reinterpret the Equal Credit Opportunity Act, say Jeffrey Naimon and Joshua Kotin at Buckley.

  • How New York Crafted Its Own Green New Deal: Part 3

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    There may be reason to doubt the feasibility of some of the ambitious goals that New York's Climate Leadership and Community Protection Act sets for emissions reductions and renewable energy production, and the state's ability to completely transform its electricity and transportation sectors, say attorneys with Vinson & Elkins.