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Real Estate
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January 15, 2025
Australia Gives Guidance On Foreign-Funded Construction
The Australian Taxation Office laid out a number of key areas that private companies receiving foreign funding from a related party for property or construction projects need to be aware of in order to not run afoul of the country's transfer pricing rules.
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January 15, 2025
Connecticut Town Accused Of Fumbling Affordable Condo Plan
The planning and zoning commission in Greenwich, Connecticut, attached conditions to a housing project that threaten the "viability" of the plan, which is meant in part to increase the availability of affordable units in the affluent town, a developer has said in an appeal to the state Superior Court.
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January 15, 2025
FCC Warns Convincing Mortgage Lender Scam Afoot
The Federal Communications Commission is putting the word out about a new scheme aimed at tricking people into thinking their homes will be foreclosed on unless they make emergency payments into an account controlled by the scammers.
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January 15, 2025
Judge Warns DOJ: Settle Burger Forfeiture Suit Or Pay Up
A Michigan federal judge on Tuesday expressed frustration with Justice Department officials' delays in resolving a civil forfeiture action over an alleged $11 million healthcare fraud scheme involving money laundered through Big Boy Restaurant, telling federal prosecutors they have until next week to settle the case or pay the chain's recent legal bills.
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January 15, 2025
Nutter Hires New Partner For Boston Real Estate Team
Law firm Nutter McClennen & Fish LLP has brought on real estate and corporate attorney Matthew E. Lane as a partner for its Boston real estate practice, the firm announced Tuesday.
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January 15, 2025
Beacon Roofing Rejects $11B Takeover Offer Lobbed By QXO
QXO Inc. said Wednesday it has offered to purchase Beacon Roofing Supply Inc. for about $11 billion in cash, prompting Beacon to announce that it rejected the offer because it "significantly undervalues" the company.
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January 14, 2025
Wells Fargo Fights To Drop Officers From Investors' Bias Suit
Wells Fargo & Co. urged a California federal judge Tuesday to free three executives from a derivative lawsuit filed by shareholders claiming the bank's leadership failed to address the company's discriminatory lending and hiring practices, saying there are no allegations that explain why a presuit demand to the board would have been futile.
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January 14, 2025
Latham Grabs Top Spot For 2024 IPOs By Large Margin
Latham & Watkins LLP guided more initial public offerings than any law firm in 2024, capturing a diverse mix of large listings for companies that seized opportunities to go public as the broader IPO market inched toward recovery, new data shows.
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January 14, 2025
8th Circ. Backs Real Estate Agents' Win In Copyright Case
The Eighth Circuit on Tuesday backed a lower court ruling that let real estate agents off the hook on claims they infringed a home designer's copyrights, agreeing that the inclusion of floor plans in listings of homes he designed were fair use.
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January 14, 2025
Insurer Says Event Co. Hid Texts Showing Overstated Losses
An insurer renewed its request for sanctions in a Minnesota federal case against an event center it insured, accusing the business of concealing evidence that it fraudulently inflated its losses from vandalism after the death of George Floyd.
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January 14, 2025
NY Appeals Court OKs Arbitration Stay In $60M Hotel Fight
A New York appeals court has affirmed a lower court order pausing an arbitration initiated by a hotel co-owner in a $60 million dispute with another co-owner over the purported mismanagement of eight hotels nationwide.
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January 14, 2025
Mich. Judge Won't Step Aside After Atty Turnover Quip
A Michigan federal judge refused to step aside from overseeing a lawsuit from a pastor who alleges a township's zoning ordinance discriminates against religious entities, ruling Monday that comments he made about the number of attorneys the pastor has had or praise he gave prior counsel do not show any bias against the plaintiffs.
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January 14, 2025
Resort Developer Asks To Wind Up Chinese Co. In Bahamas
The developer of the Baha Mar resort in the Bahamas filed a petition Tuesday to liquidate a Chinese-owned construction firm that was hit with a $1.6 billion judgment last year by a New York court over its fraud tied to the construction of the resort project.
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January 14, 2025
Mercedes Urges 6th Circ. Redo Of Fire Coverage Ruling
The research group for Mercedes-Benz North America has told the Sixth Circuit it should not have to reimburse the insurer of an Ann Arbor, Michigan, property it rented for a fire it inadvertently set, saying a clause in its lease prevents subrogation.
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January 14, 2025
Retroactive Foreclosure Rule Bars Suit, Mich. County Says
A Michigan county has urged a federal judge to toss a proposed class action alleging that it kept surplus proceeds from tax-foreclosed home sales, saying the homeowner bringing the claims hasn't yet used the state's process for securing the proceeds.
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January 14, 2025
DOI Greenlights Calif. Tribe's $700M Casino, Housing Project
A California tribe is set to build a $700 million project near the San Francisco Bay area that is proposed to include a casino and resort, two dozen homes and a biological preserve, following years of litigation and controversy surrounding the endeavor.
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January 14, 2025
FTC Issues Second Report On PBMs, Expanding Study Scope
The Federal Trade Commission released a second "interim" report on pharmacy benefit managers and their effects on specialty drug prices Tuesday, claiming that the companies have driven up prices well over acquisition costs and continue to squeeze independent pharmacies out of the market through low reimbursement rates.
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January 14, 2025
Tribe Members Look To Intervene In 8th Circ. Pipeline Case
Twenty members of the Three Affiliated Tribes of the Fort Berthold Indian Reservation have urged the Eighth Circuit to let them intervene in a Marathon Petroleum Corp. subsidiary's lawsuit challenging the Interior Department's reversal of decisions related to a pipeline crossing the reservation's land in North Dakota.
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January 14, 2025
Mo. House Bill Seeks Deduction For Property Tax Payments
Missouri would allow taxpayers to claim an income tax deduction for property tax payments under a bill introduced in the state House of Representatives.
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January 14, 2025
Easement Worth $1M, Not $18M, Gov't Tells 11th Circ.
The U.S. Tax Court was right to believe expert testimony that a claimed conservation easement donation of roughly $18 million was only worth $1 million, the government told the Eleventh Circuit, urging it to reject the donors' claims that the expert was unreliable.
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January 14, 2025
Trump Org. Taps Quinn Emanuel Atty For Ethics Adviser
A co-managing partner of Quinn Emanuel Urquhart & Sullivan LLP has been selected to step into the role of outside ethics adviser for the Trump Organization, President-elect Donald Trump's real estate conglomerate, according to an announcement by its executive vice president.
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January 14, 2025
Simpson Thacher, Sullivan Rep CBRE's $400M Coworking Buy
CBRE Group Inc. announced on Tuesday it will purchase coworking company Industrious National Management Company LLC for $400 million in a deal guided by Simpson Thacher & Bartlett LLP and Sullivan & Cromwell LLP.
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January 14, 2025
Eversheds Sutherland Adds Ex-Cole Schotz Atty
Eversheds Sutherland has hired commercial real estate transactions attorney Emanuel Tsourounis II, a former Cole Schotz PC partner, for its team in New York City.
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January 14, 2025
Buchanan Ingersoll Grows In Fla. With Nason Yeager RE Atty
Buchanan Ingersoll & Rooney PC has strengthened its real estate capabilities in Tampa, Florida, with the addition of a Nason Yeager Gerson Harris & Fumero PA attorney.
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January 14, 2025
H&E Rentals' Stock Doubles On $4.8B United Rentals Deal
United Rentals Inc. has agreed to purchase fellow equipment rental company H&E Rentals for about $4.8 billion, including approximately $1.4 billion of debt, the companies said Tuesday, with the news leading to a more than 100% increase in H&E's stock price.
Expert Analysis
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Series
Rock Climbing Makes Me A Better Lawyer
Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.
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NY Ruling Offers A Foreclosure Road Map For Lenders
A New York appellate court recently upheld a summary judgment ruling in favor of a commercial lender's foreclosure in U.S. Bank v. 1226 Evergreen Bapaz, illustrating the proofs lenders will need to prosecute a foreclosure action, especially where the plaintiff is an assignee of the originating lender, say attorneys at Sherman Atlas.
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Think Like A Lawyer: Dance The Legal Standard Two-Step
From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.
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Tips For Lenders Offering Texas Home Equity Lines Of Credit
As interest in home equity lines of credit increases, lenders seeking to utilize such products in Texas must be aware of state-specific requirements and limitations that can make it challenging to originate open-end lines of credit on homestead property, says Tye McWhorter at Polunsky Beitel.
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Kentucky Tax Talk: Appeals Court Revisits Leases' Tax Effects
With better facts and greater emphasis on the Kentucky Constitution, Walgreen Co. may succeed in its latest Kentucky Court of Appeals challenge to a tax assessor's method of valuing leaseholds on real property for purposes of determining ad valorem tax, say Mark Sommer and Elizabeth Ethington at Frost Brown Todd.
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Series
Being A Luthier Makes Me A Better Lawyer
When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.
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Lead Like 'Ted Lasso' By Embracing Cognitive Diversity
The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.
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Class Actions At The Circuit Courts: July Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers cases touching on pre- and post-conviction detainment conditions, communications with class representatives, when the American Pipe tolling doctrine stops applying to modified classes, and more.
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Utilizing Liability Exemption When Calif. Cities Lease Property
With rising costs pushing California municipalities to lease real estate assets instead of purchasing them, municipalities should review the ample case law that supports certain exceptions to California Constitution Section 18(a) requirements, providing that certain long-term lease obligations are not considered to be liabilities, says Steven Otto at Crosbie Gliner.
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Expect CFPB To Enforce Warning Against 'Coercive' Fine Print
The recent Consumer Financial Protection Bureau warning against unenforceable terms "deceptively" slipped into the fine print of contracts will likely be challenged in court, but until then, companies should expect the agency to treat its guidance as law and must carefully scrutinize their consumer contracts, say attorneys at Ballard Spahr.
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How NJ Worker Status Ruling Benefits Real Estate Industry
In Kennedy v. Weichert, the New Jersey Supreme Court recently said a real estate agent’s employment contract would supersede the usual ABC test analysis to determine his classification as an independent contractor, preserving operational flexibility for the industry — and potentially others, say Jason Finkelstein and Dalila Haden at Cole Schotz.
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Opinion
Now More Than Ever, Lawyers Must Exhibit Professionalism
As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.
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Series
Serving In The National Guard Makes Me A Better Lawyer
My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.
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Series
After Chevron: Impact On CFPB May Be Limited
The U.S. Supreme Court's decision in Loper Bright Enterprises v. Raimondo is likely to have a limited impact on the Consumer Financial Protection Bureau's regulatory activities, and for those who value due process, consistency and predictability in consumer financial services regulation, this may be a good thing, says John Coleman at Orrick.
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A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates
Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.