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Real Estate
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September 05, 2024
LA Developer Beats RICO Suit Over CEQA Fight At 9th Circ.
The Ninth Circuit affirmed Thursday a decision tossing a Hollywood hotel developer's $100 million racketeering suit against rival hotel developers, rejecting the plaintiff developer's allegations that its competitors had pursued "objectively baseless" sham California Environmental Quality Act litigation to extort the firm.
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September 05, 2024
Real Estate Co. EasyKnock Settles Battle With Ch. 7 Trustee
New York-based real estate investor EasyKnock Inc. would fork over the full alleged value of a debtor's home to her bankruptcy estate as part of a proposed deal to settle the Chapter 7 trustee's fraud claims and the company's own suit alleging collusion.
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September 05, 2024
Ga. Panel Affirms Tax Assessors' Partial Win In Valuation Fight
The Georgia Court of Appeals has affirmed a trial court's order granting partial summary judgment to the Lowndes County Board of Tax Assessors in a dispute concerning the $5.3 million ad valorem tax assessment on a rent-restricted apartment complex.
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September 05, 2024
Ariz. Tribe Doubled Down In Lithium Project Row, Court Told
The federal government has accused the Hualapai Indian Tribe of doubling down on conjecture with regard to the possible effects of the Big Sandy Valley Lithium Exploration Project, urging an Arizona federal judge to reject the tribe's request for a preliminary injunction.
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September 05, 2024
2nd Circ. Chilly To Mortgage-Backed Securities ERISA Suit
The Second Circuit appeared unlikely Thursday to revive a union pension fund's suit looking to hold Wells Fargo and Ocwen Financial Corp. liable for losses on mortgage-backed securities, with two judges signaling the risky loans the fund sued over might not be covered by federal benefits law.
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September 05, 2024
Ill. Judge Exits Home Sellers' Broker Fees Antitrust Suit
An Illinois federal judge has recused herself from a certified and settled class action that accused the National Association of Realtors and multiple major brokerages of conspiring to charge artificially inflated broker commissions for home sellers.
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September 04, 2024
Leech Tishman Combines With Calif. Firm Nelson Hardiman
Leech Tishman is set to add California-based healthcare and life science law firm Nelson Hardiman's 17 attorneys to its Los Angeles office this fall and will do business in the Golden State under the combined name Leech Tishman Nelson Hardiman, the firm announced Tuesday.
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September 04, 2024
Homeowners Say Wis. Tribe Can't Block Roads Again
Homeowners in a Wisconsin town whose roads were barricaded by a Native American tribe have urged a federal judge to protect access to their properties during litigation until their easement claims can be resolved, saying the U.S. government and the tribe must immediately remove any roadway blockages.
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September 04, 2024
Builder's Battle With Conn. Town Tossed Over Zoning Appeal
A lawsuit that a property developer filed against officials of a Connecticut town, seeking to restart construction and sales of a housing project after receiving a cease-and-desist order, is untimely because the company is still pursuing a local zoning appeal, a Connecticut state judge has ruled in dismissing the case.
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September 04, 2024
4th Circ. Sets Legal Hemp Standard In THC Firing Case
A split Fourth Circuit panel on Wednesday set a standard for the legality of hemp products, although it still found that a real estate company worker claiming she was illegally fired for testing positive for a THC substance didn't back her disability bias claims.
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September 04, 2024
Drink Co.'s Ex-CEO Must Face Suit Over Illegitimate Profits
A Florida federal bankruptcy judge on Wednesday denied a bid by the former CEO of the corporation that makes Bang Energy to toss a lawsuit alleging the company's profits were based on deception and that the chief executive left the business insolvent, but ordered that the complaint be clarified.
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September 04, 2024
Turning Tides: Real Estate's Impending Insurance Crisis
Climate risk, once an abstract concept, is now a stark reality in the real estate industry as damage from stronger and more frequent weather events portends a drastic correction in the property insurance market. This new series explores state and local government efforts, shifting investor behavior, and home-buying trends as the climate-driven insurance crisis bubbles to the surface.
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September 04, 2024
Judge Says EB-5 Investors, Fund Must Disclose More Info
An Illinois federal judge told a group of Chinese investors and a development fund on Wednesday they both must provide additional information in a suit accusing the fund of making off with $13.2 million intended for the development of a Hawaii resort.
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September 04, 2024
Steward Health Gets OK To Sell Mass. Hospitals For $343M
A Texas bankruptcy judge on Wednesday approved Steward Health Care's $343 million sale of six of its Massachusetts hospitals and new funding that will help the company keep its facilities in the Bay State operating.
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September 04, 2024
NJ Health System Wins Access To Fraud File In Antitrust Fight
A New Jersey federal judge Wednesday allowed health system RWJBarnabas Health Inc. to move ahead with a subpoena on the New Jersey State Commission of Investigation in a case in which RWJBarnabas is accused of antitrust violations by rival health system CarePoint Health Management Associates LLC.
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September 04, 2024
Warren Urges IRS To Look At Possible REIT Tax Break Abuse
The Internal Revenue Service should increase its scrutiny of real estate investment trusts to determine whether companies are benefiting from REIT tax benefits while flouting rules, including those that limit the level of a REIT's ownership in a company, Sen. Elizabeth Warren told the agency's commissioner.
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September 04, 2024
SEC Fines Investor Over $7.5M In Undisclosed Affiliate Fees
The U.S. Securities and Exchange Commission has fined Florida-based investor Digital Bridge for failing to properly disclose about $7.5 million worth of payments to affiliates for services provided to a group of funds the firm manages.
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September 04, 2024
Former Michelin Tire Factory Site Worth $30M, NJ Jurors Told
The owner of a 22-acre former Michelin Tire factory in Milltown, New Jersey, told jurors Wednesday it should be paid at least $30 million by a borough redevelopment agency to acquire the property through eminent domain for the construction of a 350-unit mixed-use residential development.
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September 04, 2024
Insurer Must Cover Woman's Fire Claim, Wash. Panel Says
An insurer must cover a woman's claim for damage to her former home after she was assaulted and set on fire by her ex-husband, a Washington state appeals court ruled, finding that a domestic abuse exception to the policy's intentional loss exclusion applies.
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September 04, 2024
McElroy Deutsch's Former CFO Fights Bid To Sink Ch. 11 Case
The currently incarcerated former chief financial officer for McElroy Deutsch Mulvaney & Carpenter LLP denied that his Chapter 11 filing was a bad faith maneuver meant to stall ongoing civil litigation, claiming instead that the bankruptcy will allow for the liquidation of property for the benefit of creditors.
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September 04, 2024
Mass. Tax Panel OKs Nix Of Value Cut On Renovated Housing
The owner of a Massachusetts apartment building that contains a commercial space was unable to have the property's valuation reduced because its evidence of comparable sales didn't account for differences in the properties, the state Appellate Tax Board affirmed.
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September 04, 2024
Simpson Thacher-Led Blackstone Inks $16.2B AirTrunk Deal
Simpson Thacher & Bartlett LLP-led Blackstone Inc. said Wednesday it has agreed to acquire AirTrunk, an Australia-based data center platform focused on the Asia-Pacific region, from Macquarie Asset Management and the Public Sector Pension Investment Board at an implied enterprise value of over AU$24 billion ($16.2 billion).
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September 03, 2024
5th Circ. Panel Pushes Plaintiff Groups In Oil Terminal Row
A Fifth Circuit panel seemed wary of a claim by several groups who argued they hadn't forfeited arguments relating to vessel traffic on Texas' Gulf Coast, saying during oral arguments last week that the group's brief didn't include anything about forfeiture.
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September 03, 2024
7th Circ. Upholds Arbitration In Menards Hidden Fees Suit
The Seventh Circuit on Tuesday upheld a decision to compel arbitration in a proposed class action claiming that home improvement retailer Menards used a hidden pickup service fee to manipulate its prices, saying the company provided "reasonably conspicuous" notice of its terms on the page where the lead plaintiff completed her online order.
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September 03, 2024
Insurance Intermediary Can't Revive Biz Interference Claims
Liberty Mutual and two of its adjusters had no obligation to work with an intermediary that helps contractors secure coverage, an Ohio appeals court ruled, rejecting the intermediary's claims that Liberty and the adjusters tortiously interfered with the intermediary's business relationships by refusing to communicate with it.
Expert Analysis
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.
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Payment Provision Lessons From NJ Construction Ruling
A New Jersey appellate court's decision in Bil-Jim v. Wyncrest, holding that an American Institute of Architects contract was not an installment contract, highlights both the complexities of statute of limitations calculations and the significant consequences that can arise from minor differences in contract language, say Mitchell Taraschi and Zac Brower at Connell Foley.
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Series
Spray Painting Makes Me A Better Lawyer
My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.
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Conn. Loan Law Tweaks May Have 3 Major Effects On Lenders
Recently proposed minor amendments to Connecticut’s consumer protection laws could nonetheless mean major and unexpected changes to state consumer financial services regulations that dictate how lenders and their customer-facing service providers handle fee payments, mortgage servicer licensing and private student loans, says Jonathan Joshua at Joshua Law Firm.
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A Legal Playbook For Stadium Construction Agreements
As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.
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Opinion
Judicial Independence Is Imperative This Election Year
As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.
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Document Retention Best Practices To Lower Litigation Risks
As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.
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Series
Riding My Peloton Bike Makes Me A Better Lawyer
Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.
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Class Actions At The Circuit Courts: March Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses four notable circuit court decisions on topics from consumer fraud to employment — and provides key takeaways for counsel on issues including coercive communications with putative class members and Article III standing at the class certification stage.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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What Recent Study Shows About AI's Promise For Legal Tasks
Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.
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How FinCEN Proposal Expands RE Transaction Obligations
Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.
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How Calif. Video Recording Ruling May Affect Insured Exams
A recent California appellate decision, Myasnyankin v. Nationwide, allowing policyholders to video record all parties to an insurance examination under oath, has changed the rules of the road for EUOs and potentially opened Pandora's box for future disputes, say John Edson and Preston Bennett at Sheppard Mullin.
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Litigation Inspiration: A Source Of Untapped Fulfillment
As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.
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Unpacking FinCEN's Proposed Real Estate Transaction Rule
Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.