Commercial

  • May 28, 2024

    Chancery Finds Ex-CEO Owed $79M For Share Lockup Losses

    The former CEO of a 3D building imaging company is owed more than $79 million in damages in his share value suit against the company, but not the more than $141 million he sought, the Delaware Chancery Court ruled Tuesday.

  • May 28, 2024

    Seattle Landlord Affiliates Fight To Skip $6.8M Renovation Suit

    Three entities tied to Martin Selig Real Estate have asked a Washington state court to drop them from a tenant's $6.8 million lawsuit alleging they are on the hook for a fourth affiliate's contractual obligation to shoulder contractor fees, arguing the plaintiff mischaracterized their corporate structure.

  • May 28, 2024

    Goldman Family Battles Over Evidence In Property Biz Suit

    Relatives of Jane Goldman, an heiress of Sol Goldman's New York City property empire, argued that a contract she has said establishes her authority over the family's real estate business is of "dubious origin."

  • May 28, 2024

    Tribe Says Enbridge's Trespass Concern Wasted Court's Time

    A Wisconsin tribe has told the Seventh Circuit that Enbridge Energy wasted the court's time raising concerns that an old tribal trespass ordinance could cost the company millions in fines, saying it has nothing to do with the tribe's attempts to stop the Line 5 pipeline.

  • May 28, 2024

    Apartment Co. Says Insurer Owes Millions For Hail Damage

    The owners of an apartment building blamed an insurer for breaching its contract in Kansas federal court Tuesday, alleging the carrier failed to cover over $13 million in wind, hail and water damages and underestimated the loss despite clear evidence.

  • May 28, 2024

    Jones Day, King & Spalding Rep Blackstone, Bank's $1B Deal

    Blackstone has bought a $1 billion senior mortgage loan portfolio from Deutsche Pfandbriefbank after the German bank revealed plans to offload it, with the all-cash transaction shaped by Jones Day and King & Spalding LLP. 

  • May 28, 2024

    Simpson Thacher Hires US Treasury Alum From Blackstone

    An experienced fund transactions attorney has moved from an in-house role at Blackstone to private practice at Simpson Thacher & Bartlett LLP, the firm said Tuesday.

  • May 28, 2024

    Texas Real Estate Investment Manager Closes $1.6B Fund

    Pennybacker, an Austin, Texas-based investment manager, closed its latest fund for opportunistic investments in real estate at $1.6 billion, exceeding the vehicle's target, according to an announcement Tuesday.

  • May 28, 2024

    Colo. Creates Tax Credits For Agricultural Stewardship

    Colorado farms and ranches that use certain agricultural stewardship practices will be eligible for tax credits of up to $300,000 under legislation signed into law by Gov. Jared Polis.

  • May 24, 2024

    Lender Says Ch. 11 Triggers Payment Obligation for NYC Lofts

    A lender filed suit against Rudy Gabsi, CEO of Israeli investment firm Leny Group, alleging Gabsi is on the hook for $82 million after a borrower tied to the firm thwarted a foreclosure sale involving New York City properties by filing for Chapter 11 bankruptcy protections.

  • May 24, 2024

    NY AG Sues Over Illegal Long Island Wetland Construction

    New York prosecutors on Friday sued to force a contractor to pay nearly $600,000 and restore a Long Island wetland area the company has been using as a storage site after illegally clearing vegetation and building a parking lot more than a decade ago.

  • May 24, 2024

    Cell Tower Operator's Trade Secret Suit Tossed For Now

    A Pennsylvania federal judge has thrown out a cell tower operator's allegations that a rival used its confidential information on pricing from landlords and made misleading statements to buy out tower leases.

  • May 24, 2024

    DC Circ. Says Bainbridge Can't Have Argentina's Building

    The D.C. Circuit on Friday denied an appeal from Bainbridge Fund Ltd. in a property dispute with Argentina, saying the company can't take possession of the property in an effort to satisfy a $95 million judgment over defaulted bonds.

  • May 24, 2024

    Healthcare REIT Nabs $800M Despite Tenant Turbulence

    Medical Properties Trust Inc. announced Friday that the real estate investment trust has secured a £631 million ($804 million) financing from a group of investors led by real estate investment firm Song Capital, in a deal led by Goodwin Procter LLP and Slaughter and May.

  • May 24, 2024

    NYC Apartment Hotel May Qualify For Tax Break, Dept. Says

    A planned 150-unit apartment hotel building in New York City catering to a nearby hospital's patients and staff and to university students could be eligible for an industrial and commercial abatement program, the city Department of Finance said in a letter ruling.

  • May 23, 2024

    Entrepreneur Ordered To Pay $15M For Unlicensed Pot Stores

    A New York state court hit a cannabis seller with a $15 million judgment Thursday after he was found to be selling marijuana without a license at seven locations inside the state, according to an announcement by the state's attorney general.

  • May 23, 2024

    Fla. Broker Can't Collect Fees For $54M Real Estate Deal

    A real estate broker isn't owed a 1% commission on a $53.65 million deal despite introducing the eventual buyer, as the broker was not involved in the final sale, a Florida appeals court ruled.

  • May 23, 2024

    99 Cents Only Gets OK To Sell Stores For $170M In Ch. 11

    Discount retail chain 99 Cents Only on Thursday got the green light of a Delaware bankruptcy judge to sell off 44 lots of its assets for a combined price of $170 million as it moves towards a wind-down.

  • May 23, 2024

    Ill. Justices OK $28M Tax Value Appeal Without Payment

    A power company's property in Illinois was not required to pay disputed property taxes before appealing a valuation, the Illinois Supreme Court affirmed Thursday, upholding a reduction in the assessment of about $28 million.

  • May 23, 2024

    JV Inks $48.5M Ft. Lauderdale Shopping Center Buy

    BH Group, PEBB Enterprises and Related Group have snapped up a mixed-use waterfront shopping center in Fort Lauderdale, Florida's Harbordale neighborhood for $48.5 million through a joint venture, with plans to further develop the property.

  • May 23, 2024

    MoFo Guides $100M Refi At Manhattan Office Property

    Morgan Stanley Bank NA and German American Capital Corp. refinanced a $100 million mortgage of the Feil Organization's Look Building, a New York City office building, in a deal guided by Morrison & Foerster LLP.

  • May 23, 2024

    Oakland Coliseum Sold To Black-Led Biz Group For $105M

    The City of Oakland has agreed to sell its share of the Oakland Coliseum to a group of Black community, business and investment leaders for a minimum of $105 million in a deal that the city said will pave the way for affordable housing units, outdoor space and future developments.

  • May 22, 2024

    CBRE Calls Exec's Noncompete Right Fit In A Small World

    A Texas appellate court wondered Wednesday whether a temporary injunction that seemingly bars a former CBRE executive from working in his trade anywhere in the world goes too far, and questioned the validity of the underlying noncompete agreement at the center of the legal battle.

  • May 22, 2024

    Ill. Justices Weigh Zurich's Right To Recover $3M Flood Loss

    The Illinois Supreme Court weighed Wednesday whether Zurich American Insurance Co. can recoup $3 million from a subcontractor for water damage repair costs the insurer paid to a general contractor despite Zurich filing suit on behalf of a different insured.

  • May 22, 2024

    FDIC Eyes 'Weak' Office, Mall Assets In Risk Assessment

    The Federal Deposit Insurance Corp. deemed office and retail mall asset classes 2023's "weak" points among the otherwise resilient commercial real estate property types, in a Wednesday report summarizing risks facing FDIC-insured institutions.

Expert Analysis

  • La. Suit Could Set New Enviro Justice Litigation Paradigm

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    Inclusive Louisiana v. St. James Parish, a lawsuit filed recently in Louisiana federal court that makes wide-ranging and novel constitutional and statutory claims of environmental racism based on centuries of local history, could become a new template for environmental justice litigation against governments and businesses, say attorneys at King & Spalding.

  • Joint Representation Ethics Lessons From Ga. Electors Case

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    The Fulton County district attorney's recent motion to disqualify an attorney from representing her elector clients, claiming a nonconsentable conflict of interest, raises key questions about representing multiple clients related to the same conduct and highlights potential pitfalls, say Hilary Gerzhoy and Grace Wynn at HWG.

  • Lawyer Discernment Is Critical In The World Of AI

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    In light of growing practical concerns about risks and challenges posed by artificial intelligence, lawyers' experience with the skill of discernment will position them to help address new ethical and moral dilemmas and ensure that AI is developed and deployed in a way that benefits society as a whole, says Jennifer Gibbs at Zelle.

  • Policyholder Lessons From Sandy No-Coverage Decision

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    A New York federal court recently decided that in the aftermath of Hurricane Sandy, Madelaine Chocolate knew Great Northern Insurance’s all-risk policy offered no coverage for storm surge — an important reminder that policyholders should review policy language for ambiguities or anti-concurrent causation clauses, say Dennis Artese and Joshua Zelen at Anderson Kill.

  • Don't Forget Alumni Engagement When Merging Law Firms

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    Neglecting law firm alumni programs after a merger can sever the deep connections attorneys have with their former firms, but by combining good data management and creating new opportunities to reconnect, firms can make every member in their expanded network of colleagues feel valued, say Clare Roath and Erin Warner at Troutman Pepper.

  • 5th Circ. Offers Expert Opinion Guidance For Insurance Cases

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    A recent Fifth Circuit decision in Majestic Oil v. Lloyd's of London provides insight into how Texas' concurrent causation doctrine could affect insurance cases where the cause of damage is at issue, and raises considerations for litigants faced with new or revised expert reports after the deadline has passed, say Brian Scarbrough and Cianan Lesley at Jenner & Block.

  • Every Lawyer Can Act To Prevent Peer Suicide

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    Members of the legal industry can help prevent suicide among their colleagues, and better protect their own mental health, by learning the predictors and symptoms of depression among attorneys and knowing when and how to get practical aid to peers in crisis, says Joan Bibelhausen at Minnesota Lawyers Concerned for Lawyers.

  • FTC Proposal Greatly Widens Auto-Renewal Regulation

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    The Federal Trade Commission's proposed rule on automatic renewal subscriptions would impose significant new obligations on sellers of negative option plans and expand the agency's enforcement powers, likely requiring companies to examine and change their practices, say attorneys at Squire Patton.

  • Now Is The Time For Independent Industry Self-Regulation

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    The high level of trust in business, coupled with the current political and legal landscape, provides an opportunity for companies to play a meaningful role in finding solutions to public policy issues through the exploration of independent industry self-regulation models, says Eric Reicin at BBB National Programs.

  • Do Videoconferences Establish Jurisdiction With Defendants?

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    What it means to have minimum contacts in a foreign jurisdiction is changing as people become more accustomed to meeting via video, and defendants’ participation in videoconferencing may be used as a sword or a shield in courts’ personal jurisdiction analysis, says Patrick Hickey at Moye White.

  • Humanism Should Replace Formalism In The Courts

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    The worrying tendency for judges to say "it's just the law talking, not me" in American decision writing has coincided with an historic decline in respect for the courts, but this trend can be reversed if courts develop understandable legal standards and justify them in human terms, says Connecticut Superior Court Judge Thomas Moukawsher.

  • 20 Years On, Campbell Holds Lessons On Reining In Ratios

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    Twenty years ago, the U.S. Supreme Court's decision in State Farm v. Campbell provided critical guidance on the constitutionally permissible ratio of punitive to compensatory damages — and both Campbell and subsequent federal circuit court decisions informed by it offer important pointers for defendants, say attorneys at Dechert.

  • How Bank Turmoil Is Affecting Real Estate Purchases, Sales

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    The new uncertainty in the availability of financing from bank lenders that were previously considered "money good," spurred by the bank crisis, has inserted a wrinkle in the commercial real estate market that alters some of the dynamics between a buyer and seller, says Simran Bindra at Thompson Coburn.