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Real Estate
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November 12, 2024
Freddie Mac Gets Partial Win In SEC Probe Coverage Dispute
Government-backed mortgage buyer Freddie Mac cannot obtain coverage solely because its employees received subpoenas from the U.S. Securities and Exchange Commission, a D.C. federal court ruled while also holding that the lender's excess insurers cannot challenge a lower-layer insurer's coverage determination.
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November 12, 2024
Goodwin Lands 2 Willkie Real Estate Finance Partners In NY
Goodwin Procter LLP announced Tuesday that it has added two partners from Willkie Farr & Gallagher LLP to join Goodwin's growing global real estate industry practice in New York.
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November 12, 2024
Bradley Arant Adds Real Estate Pro In Dallas Office
Bradley Arant Boult Cummings LLP is growing its real estate team in its 6-year-old Dallas office by bringing in a commercial real estate expert who previously ran his own boutique firm as a partner.
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November 12, 2024
High Court Declines Remaining NY Rent Stabilization Suits
The U.S. Supreme Court will not probe a Second Circuit decision upholding a lower court's dismissal of two suits challenging distinct provisions of New York's Housing Stability and Tenant Protection Act of 2019, a contentious tenant-friendly change to state rental regulations.
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November 08, 2024
Real Estate Recap: Trump, Big 4, Office Demand?
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including how the next Trump administration could affect commercial real estate, where the Big Four brokers saw traction in Q3 and an interesting anomaly in the distressed office market.
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November 08, 2024
1st Circ. Agrees No Coverage For Contractor In Defect Row
A First Circuit panel affirmed an insurer's win Friday, concluding that the carrier and excess insurers owed no coverage to a general contractor embroiled in underlying litigation regarding damage caused by a subcontractor's allegedly faulty work on a New Jersey project.
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November 08, 2024
Ga. Judge Sets 2nd Trial Plan For Solar Farm Damages Fight
A Georgia federal judge said he's moving ahead with plans for a second jury to decide how much in damages the owner and developers of Lumpkin Solar Farm owe a neighboring property owner for harms stemming from runoff and some 1,000 cubic yards of sediment that have washed off the site.
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November 08, 2024
Judge Won't Pause Housing Order In LA Campus Suit
A California federal judge has refused to pause his order requiring the federal government to put out contract offers for the construction of temporary housing on a Los Angeles campus that's at the heart of a class action filed by disabled, homeless military veterans who accused the federal government of misusing the property.
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November 08, 2024
Ex-LA Pol's Aide Avoids Prison In 'Casino Loyale' Probe
A California federal judge appeared poised Friday to deliver a harsh sentence to a cooperating witness in the corruption probe of Los Angeles City Hall after repeatedly asking him why he coordinated bribes and lied to the FBI, but ultimately sentenced him to home detention as the government requested.
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November 08, 2024
Investors Duped By Opportunity Zone Promises, Colo. Says
Colorado's securities commissioner accused a California businessman on Thursday of selling investors on a project ostensibly meant to purchase single-family homes using a federal program for revitalizing economically distressed areas, while instead using company assets as a "personal piggy bank."
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November 08, 2024
ND Wants To Back Feds In Dakota Access Pipeline Row
North Dakota wants to back the federal government in a challenge by the Standing Rock Sioux Tribe seeking to block a Texas-based energy company from continuing to operate the Dakota Access Pipeline, arguing a shutdown would undermine the state's interests in oil and gas regulation activity.
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November 08, 2024
Steptoe & Johnson Adds Veteran Corporate Atty In Dallas
Steptoe & Johnson PLLC announced that a veteran corporate attorney who previously served as the top attorney for a major auto repair company has joined the firm's Dallas office as of counsel, in a move the firm said will help strengthen its private credit practice.
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November 08, 2024
NJ Appeals Panel Rejects Convicted Ex-Atty's Bid For Relief
The New Jersey Appellate Division turned down on Friday a former attorney's bid for review of her conviction on participating in an $873,000 mortgage fraud scheme, in which she claimed she was barred from the full range of cross-examination at trial that she should have had the right to.
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November 08, 2024
GSA Weighs 2 Sites For New Connecticut Federal Courthouse
Federal officials are weighing two possible sites for a new $355 million federal courthouse to replace an aging one in Hartford, Connecticut.
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November 08, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen collapsed German airline Air Berlin take action against its former auditor KPMG, the associate editor at The Spectator hit with a libel claim by a mosque over the far-right riots that took place in August and British licensing authority the Performing Right Society sue Parklife Manchester and four other festival organizers. Here, Law360 looks at these and other new claims in the U.K.
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November 07, 2024
Oakland Airport Name Has Travelers Flying In Circles, SF Says
Attorneys for San Francisco urged a California federal judge Thursday to block Oakland from renaming its airport the "San Francisco Bay Oakland International Airport," saying travelers are mistakenly showing up to San Francisco International Airport instead of Oakland's hub because the new name is "dangerously and confusingly similar."
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November 07, 2024
DLA Piper Chile Adds New Dispute Resolution Partner
DLA Piper Chile has welcomed a new partner from Chilean law firm Albagli Zaliasnik to its dispute resolution practice, saying she will focus on civil litigation and arbitration in sectors including energy and finance.
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November 07, 2024
NM Tribe Settles Land Claim Dispute With Feds
The Pueblo of Jemez and the U.S. government have settled in New Mexico federal court the tribe's claim on land within the Valles Caldera National Preserve, finally agreeing in the 12-year-old dispute that Jemez has aboriginal title to an area known as Banco Bonito.
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November 07, 2024
NC Contractor Says DR Horton Owes It Millions
A contractor claimed that homebuilding giant D.R. Horton Inc. stiffed it out of more than $5.5 million after it did site work for residential real estate projects in North and South Carolina.
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November 07, 2024
Fla. Counties Say Notice Was Insufficient In $5B Bond Deal
A group of Florida counties and tax collectors asked the Florida Supreme Court Thursday to reverse a decision that found they could not reopen a bond validation judgment issuing $5 billion in bonds for renewable energy and hurricane mitigation projects, arguing they were not given proper notice of the bond validation hearing.
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November 07, 2024
7th Circ. Sends Refuge Power Line Fight Back To Wis. Judge
A Seventh Circuit panel scrapped stayed preliminary injunctions that temporarily blocked a power transmission line from crossing the Upper Mississippi River National Wildlife and Fish Refuge, directing a Wisconsin federal judge to determine if conservation groups' request for permanent relief is warranted or even possible with the line now built.
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November 07, 2024
Strip Mall, Insurer Agree To End Repair Payments Dispute
A Tennessee strip mall owner and its insurer agreed to bury the hatchet Thursday and resolve claims the insurance company withheld costs for building repairs via wrongful depreciation, Wisconsin federal court filings said.
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November 07, 2024
Apache Say 'Stakes Are Clear' In Oak Flat Land Dispute
The federal government is trying to manufacture problems by claiming that a law aimed at protecting the religious rights of minorities can't apply to later-enacted statutes, an Apache nonprofit has told the U.S. Supreme Court in its bid to save a sacred worship site in Arizona from mining destruction.
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November 07, 2024
ECJ Says VAT Applies To Land Prepared For Building
Land with foundations to build residential housing is subject to value-added tax as a supply of land in the European Union, the European Court of Justice said Thursday in a dispute between Denmark's tax authority and a real estate company.
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November 07, 2024
Property Co. Sues Insurer Over Late Coverage Rights Letter
A company providing management services to homeowners associations accused its insurer in North Carolina federal court of acting in bad faith after it said the insurer only sent it a reservation of rights letter a year into its defense of a fire damage lawsuit.
Expert Analysis
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Basel Endgame Rules: A Change Is Coming
The Federal Reserve Board's recently announced recalibration of the Basel endgame proposal begins a critical chapter in the evolution of not only the safety and soundness of U.S. banks, but also of banks' abilities to lend and support American businesses and consumers, say attorneys at Davis Wright.
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Series
Round-Canopy Parachuting Makes Me A Better Lawyer
Similar to the practice of law, jumping from an in-flight airplane with nothing but training and a few yards of parachute silk is a demanding and stressful endeavor, and the experience has bolstered my legal practice by enhancing my focus, teamwork skills and sense of perspective, says Thomas Salerno at Stinson.
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Dealmaker Lessons From CFIUS' New Enforcement Webpage
The Committee on Foreign Investment in the United States’ recently launched webpage, which details the actions — and inactions — that led to enforcement activity, provides important insights for dealmakers about filing requirements, mitigation commitments and the cost of noncompliance, say attorneys at Dechert.
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Why Now Is The Time For Law Firms To Hire Lateral Partners
Partner and associate mobility data from the second quarter of this year suggest that there's never been a better time in recent years for law firms to hire lateral candidates, particularly experienced partners — though this necessitates an understanding of potential red flags, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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Reassessing Lease Provisions To Account For ESG Initiatives
As companies seek to build ESG considerations into their businesses, it's crucial to understand how such initiatives can quickly become significant enough to compel reassessment of lease agreement provisions, and how best to modify leases accordingly, say Julian Freeman and Gabe Pitassi at Cox Castle.
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Considering Possible PR Risks Of Certain Legal Tactics
Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.
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It's No Longer Enough For Firms To Be Trusted Advisers
Amid fierce competition for business, the transactional “trusted adviser” paradigm from which most firms operate is no longer sufficient — they should instead aim to become trusted partners with their most valuable clients, says Stuart Maister at Strategic Narrative.
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Avoid Getting Burned By Agencies' Solar Financing Spotlight
Recently coordinated reports and advisories from the U.S. Department of the Treasury, the Consumer Financial Protection Bureau and the Federal Trade Commission maximize the spotlight on the consumer solar financing market and highlight pitfalls for lenders to avoid in this burgeoning field, says Mercedes Tunstall at Cadwalader.
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Co-Tenancy Clause Pointers For Shopping Center Landlords
Large retail tenants often require co-tenancy provisions in their leases, entitling them to remedies if a shopping center's occupancy drops in certain ways, but landlords must draft these provisions carefully to avoid giving tenants too much control, says Gary Glick at Cox Castle.
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Assessing Algorithmic Versus Generative AI Pricing Tools
A comparison of traditional algorithmic pricing models and those powered by generative artificial intelligence can help regulators and practitioners weigh the pros and cons of relying on large language models to price products or services, say Maxime Cohen at McGill University, and Tim Spittle and Jimmy Royer at Analysis Group.
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Navigating A Potpourri Of Possible Transparency Act Pitfalls
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.
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Series
After Chevron: Conservation Rule Already Faces Challenges
The Bureau of Land Management's interpretation of land "use" in its Conservation and Landscape Health Rule is contrary to the agency's past practice and other Federal Land Policy and Management Act provisions, leaving the rule exposed in four legal challenges that may carry greater force in the wake of Loper Bright, say Stacey Bosshardt and Stephanie Regenold at Perkins Coie.
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DOJ Must Overcome Hurdles In RealPage Antitrust Case
The U.S. Department of Justice's recent claims that RealPage's pricing software violates the Sherman Act mark a creative, and apparently contradictory, shift in the agency's approach to algorithmic price-fixing that will face several key challenges, say attorneys at Clifford Chance.
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Keys To Successful Commercial Property Insurance Claims
Excerpt from Practical Guidance
While insurance needs for commercial leasing arrangements are driven by the characteristics of the premises and the nature of the tenants' intended operations, there are several universal best practices landlords and their counsel can follow when making claims after loss or damage.
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How Companies Are Approaching Insider Trading Policies
An analysis of insider trading policies recently disclosed by 49 S&P 500 companies under a new U.S. Securities and Exchange Commission rule reveals that while specific provisions vary from company to company, certain common themes are emerging, say attorneys at Gibson Dunn.