Real Estate

  • December 06, 2019

    Don't Ignore 'Lack Of Diligence' In Mortgage Suit: Wells Fargo

    Wells Fargo asked a California federal judge to block a class-action bid brought by mortgage borrowers who say the bank denied mortgage aid to hundreds of eligible struggling homeowners, saying the plaintiffs' "lack of diligence" should not be rewarded.

  • December 06, 2019

    Justices Halt House Subpoenas For Trump's Bank Records

    House committees seeking President Donald Trump’s financial information from Deutsche Bank and Capital One for an investigation into international money laundering and foreign influence must wait to enforce subpoenas, the U.S. Supreme Court ordered late Friday.

  • December 06, 2019

    US Trustee Questions Weil Gotshal's Ditech Fee Application

    The Office of the U.S. Trustee objected Thursday to the final fee applications of professionals working on the Chapter 11 case of mortgage servicer Ditech Holding Corp., asking for reductions or explanations from debtor counsel Weil Gotshal & Manges LLP.

  • December 06, 2019

    Goodwin Reps BentallGreenOak On €1.2B Portfolio Sale

    Goodwin Procter advised BentallGreenOak on its €1.2 billion ($1.3 billion) sale of a 42-property portfolio to real estate investment firm Patrizia, which was announced Friday.

  • December 06, 2019

    Bipartisan Bill Tackles 'Crisis' In Indian Country Housing

    A bipartisan bill introduced in the U.S. House of Representatives aims to reauthorize and update a package of federal programs to alleviate a "crisis" in affordable housing in Indian Country.

  • December 06, 2019

    MVP: Skadden's Audrey Sokoloff

    Audrey Sokoloff of Skadden Arps Slate Meagher & Flom LLP has recently guided large real estate matters for Google, WeWork, Las Vegas Sands and Twenty-First Century Fox, and thanks to her work for those and other companies, she has been named one of Law360's Real Estate MVPs.

  • December 06, 2019

    AMP Capital Sells $389M Stake In Perth-Area Shopping Mall

    Australia-based mall owner Scentre Group Ltd. bought a 50% stake in a Perth-area shopping center from a real estate arm of AMP Capital for AU$570 million ($389 million), according to a statement Friday.

  • December 06, 2019

    Real Estate Rumors: Facebook, PwC, Trammell Crow

    Facebook is reportedly looking to lease roughly 700,000 additional square feet in Manhattan, PwC is said to have leased 182,316 square feet in D.C., and Trammell Crow could convert a former Florida Costco store to apartments.

  • December 06, 2019

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

    The last week in London has seen a boutique law firm take a spat with Barclays into court, a Hong Kong real estate group lodge a commercial fraud claim against HSBC and insurer Aviva file suit against a prominent U.K. construction manager. Here, Law360 looks at those and other new claims in the U.K.

  • December 05, 2019

    Developer Seeks Atty Fees After Beating Juror Bribery Claim

    Miami real estate developer Ugo Colombo is seeking to recover attorney fees after a Florida state judge rejected a “completely untenable” claim from rival Craig Robins that Colombo offered to bribe a juror for a favorable verdict in a prior showdown over private jet expenses.

  • December 05, 2019

    Texas Justices Unsure Court Should Enter AEP Utility Fight

    The Texas Supreme Court on Thursday questioned what role courts should play in governing how much space Texas utility companies can take for easements and what information can be used to define them in a fight involving an American Electric Power Co. subsidiary.

  • December 05, 2019

    Real Estate Rumors: Orda, KeyBank, CitizenM

    Orda Management is reportedly hoping to get as much as $800 million with the sale of a Manhattan office building, KeyBank and Fidelis Asset Management are said to have loaned $135 million for a New York hotel and CitizenM has reportedly landed $48.3 million in financing for a Miami hotel project.

  • December 05, 2019

    RAIT Financial's $174M Ch. 11 Sale OK'd Despite Challenge

    A Delaware bankruptcy judge approved real estate venture RAIT Financial Trust’s $174 million Chapter 11 sale to Fortress Investment Group on Thursday over objections from equity holders calling for a denial or delay to allow pursuit of a different tentative restructuring support offer.

  • December 05, 2019

    Mass. Assisted Living Homes Can Charge Extra Upfront Fee

    Massachusetts assisted living residences can make additional upfront charges on top of the maximum allowable security deposit because of the “distinctive services” they provide, the Massachusetts Supreme Judicial Court said Thursday.

  • December 05, 2019

    Trump Asks Justices To Void House Panel's Biz Doc Subpoena

    The U.S. Supreme Court should nullify a House panel’s subpoena to President Donald Trump’s longtime accounting firm seeking his personal and business records because the committee doesn’t have a legislative reason for the request, Trump’s attorneys said Thursday.

  • December 05, 2019

    Grainger Pays £57M For Cardiff Development Project

    Grainger has reached a deal to buy a residential development project in Cardiff, Wales, for roughly £57 million ($75 million), according to an announcement Thursday from the U.K. real estate firm.

  • December 05, 2019

    Developer Blames Peer Review For $11M Building Failure

    An engineering company’s shoddy peer review of a social services building's design contributed to its partial collapse and $11 million worth of repairs, the project developer told a D.C. federal court Wednesday.

  • December 04, 2019

    Insurer Must Defend Homebuilder In Suits Over Shoddy Work

    The Ninth Circuit on Wednesday reversed a lower court ruling that an insurer doesn’t have to cover a concrete subcontractor accused of poor workmanship in the construction of homes in Chula Vista, California, saying the underlying complaints arguably warrant coverage.

  • December 04, 2019

    Couple Fights 'Absurd' Decision In $39.5M Arbitral Case

    Two missionaries are looking to revive their $39.5 million claim against the Dominican Republic for allegedly sabotaging their luxury real estate project, telling a D.C. federal court that an arbitral tribunal reached an "absurd" conclusion when it found them to be "dominantly Dominican."

  • December 04, 2019

    Ute Members' Banishment Suit Against Tribe Is Tossed

    A Utah federal judge has nixed a suit by Ute Indian Tribe members challenging their five-year banishment from the tribe’s reservation for allegedly interfering with a tribal lawsuit against the federal government, finding that a temporary ouster doesn't allow the members to bring Indian Civil Rights Act claims.

  • December 04, 2019

    Korean Construction Co. Wants 'Smart City' Suit Tossed

    A South Korean construction company has pressed a New York federal court to dismiss a real estate developer’s suit related to the development of the Songdo smart city, saying the court lacks the authority to issue a declaration that the action belongs in arbitration.

  • December 04, 2019

    Angels Reach Deal With Anaheim To Buy Stadium For $325M

    A land management company associated with the owner of Major League Baseball's Los Angeles Angels of Anaheim is set to buy the team's stadium from the city for $325 million and keep the team in Anaheim through 2050, according to a deal announced by the city on Wednesday.

  • December 04, 2019

    Real Estate Rumors: Akerman, Trez Forman, RM Charter

    Akerman LLP has reportedly leased roughly 100,000 square feet in Manhattan, Trez Forman Capital is said to have loaned $38.8 million for a logistics park project in northern Kentucky, and RM Charter Holdings has reportedly dropped $21.2 million on a Florida charter school.

  • December 04, 2019

    7th Circ. Judge Won't Bite At Developer's Bid For Less Time

    A Seventh Circuit judge cast doubt Wednesday on a Chicago real estate developer's claim that mitigating evidence would have led to a lower sentence for his role in a $22.9 million bank fraud.  

  • December 04, 2019

    Wis. Towns Declare Neutrality In Asking Out Of Tribes' Tax Suit

    Six Wisconsin municipalities have revised their request for a federal court to dismiss them from a dispute between Chippewa tribes and the state over property taxes on tribal lands, clarifying they aren’t taking a position in favor of either party.

Expert Analysis

  • State Net

    What State Lawmakers Will Be Focused On In 2020

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    A number of issues are expected to figure prominently on state legislative agendas in the coming year, including subjects as diverse as election reform, 5G technology, online marketplaces and insurance fraud, says Korey Clark of State Net Capitol Journal.

  • What Is A 'Reasonably Useful Form' For Production Of ESI?

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    While federal rules require production of electronically stored information in its native format or a "reasonably useful form," recent court rulings offer guidance on avoiding production of ESI in its native format when it would be unduly burdensome, say Matthew Hamilton and Donna Fisher at Pepper Hamilton.

  • Prepare For Greater IRS Scrutiny On Conservation Easements

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    The IRS recently announced stepped-up enforcement on abusive syndicated conservation easement transactions, but proactive taxpayers may avoid penalties by filing qualified amended returns or administrative adjustment requests before the IRS comes knocking, say attorneys at Greenberg Traurig.

  • Why Owners Should Oversee Construction Subcontracts

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    When developing subcontracts under a construction management agreement, owners often yield too much control to the construction manager, leading to poorly drafted subcontracts that can cost time and money, says ​​​​​​​Michael Scheffler at Blank Rome.

  • Evolving Deference Principles May Affect Tax Matters

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    Agency deference is sure to be a hot topic for taxpayers and their representatives in 2020, as several important cases addressed the issue this year, and the U.S. Department of the Treasury and the Internal Revenue Service have provided an incredible amount of guidance since 2017’s tax overhaul, say Andrew Roberson and Kevin Spencer at McDermott.

  • Patent Decision Highlights Cross-Appeal Considerations

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    The Federal Circuit's recent decision in IPR Licensing overruled precedent to hold that the cross-appeal rule is not jurisdictional, demonstrating the complexity of this seemingly simple rule and its various applications within the circuit courts, says Michael Soyfer at Quinn Emanuel.

  • What NY And Mass. Exxon Climate Suits Mean For Other Cos.

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    New York state's securities fraud case against Exxon Mobil over its public stance on climate change has some weaknesses, but Massachusetts' climate-related suit against the company on consumer protection grounds should lead other companies to consider their exposure to such claims, says Alana Rusin of Goulston & Storrs.

  • Retail Bankruptcies Raise Collection Questions For Landlords

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    An unresolved circuit split has caused bankruptcy courts across the country to approach the Bankruptcy Code's collection-related provisions inconsistently, making it difficult for landlords to know what they can collect from retail tenants that become debtors in possession, say attorneys at Barclay Damon.

  • Wash. Ruling Offers Key Safeguards For Additional Insureds

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    In T-Mobile USA Inc. v. Selective Insurance Company of America, the Supreme Court of Washington recently strengthened the protections for so-called additional insureds relying upon inaccurate certificates of insurance — a win for both policyholders and entities named as additional insureds on others' policies, say Catherine Doyle and Brian Scarbrough at Jenner & Block.

  • Trends And Opportunities In Distressed M&A Investing

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    As recent S&P data shows an increase in distressed assets, investors may find it preferable to undertake certain M&A transactions by working within, rather than running from, the unique opportunities afforded by the Chapter 11 process, say Aaron Rigby and Charles Persons of Sidley.

  • Perspectives

    Book Review: Who's To Blame For The Broken Legal System?

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    The provocative new book by Alec Karakatsanis, "Usual Cruelty: The Complicity of Lawyers in the Criminal Injustice System," shines a searing light on the anachronism that is the American criminal justice system, says Sixth Circuit Judge Bernice Donald.

  • New Pa. DEP Fill Material Policy Increases Project Complexity

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    The Pennsylvania Department of Environmental Protection's new fill management policy affects, among others, real estate developers, land owners, railroads and public utilities, and will increase the time and effort necessary to determine whether fill material qualifies as clean fill, says Michael Meloy of Manko Gold.

  • California Businesses To Face More PFAS Scrutiny In 2020

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    On Jan. 1, California's A.B. 756 takes effect, authorizing the State Water Resources Control Board to order water systems to monitor for per- and polyfluoroalkyl substances. It will likely significantly increase public awareness of PFAS and put pressure on water systems to take action, says Albert Cohen of Loeb & Loeb.

  • Removing Reopeners May Speed Up Superfund Settlements

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    Reopener provisions in natural resource damages settlements under the federal Superfund law are meant to protect the public from post-settlement discoveries, but by undermining the corporate desire for finality in managing liabilities, they make settlements harder to reach, say Amanda Halter and Ashleigh Acevedo of Pillsbury.

  • NYC Ballot Measure Likely Signals Modest Land Use Changes

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    On Nov. 5, New York City approved a ballot measure establishing precertification notice for land use applications and granting more time to community boards to review them. The changes are not revolutionary, but the rules established by the City Planning Commission will determine their ultimate impact, say Ross Moskowitz and Eva Schneider at Stroock.