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Real Estate
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July 25, 2024
Ohio Board Incorrectly Calculated Land, Improvement Value
An Ohio warehouse property had its land value incorrectly increased to $1.2 million, from $715,000, a state appeals court ruled Thursday after finding no evidence was presented that warranted a change in its value.
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July 25, 2024
Conn. Firm Accused Of Maliciously Pressing Fraud Suit
A Connecticut woman is accusing personal injury law firm Carter Mario PC of maliciously filing a lawsuit demanding she turn over her house in an effort to harass her after her ex-husband was unable to satisfy a $500,000 judgment in a separate case alleging voyeurism.
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July 25, 2024
Proskauer Adds Milbank Real Estate Atty In NY
Proskauer Rose LLP has hired a special counsel from Milbank LLP who joins the firm after six years with his prior platform to continue his practice focused on private equity investors and other clients involved in real estate and private fund matters, the firm announced Thursday.
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July 25, 2024
IRS, Zaxby's Co-Founder To Settle $43M Easement Suit
The Internal Revenue Service agreed to settle a $43 million valuation dispute over a conservation easement donated by the co-founder of the Zaxby's restaurant chain and his wife, prompting a Georgia federal court Thursday to cancel next month's anticipated jury trial.
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July 25, 2024
Bally's OKs Standard General's Takeover Valuing It At $4.6B
Bally's Corp. announced on Thursday its plans to merge with Standard General-owned The Queen Casino & Entertainment Inc., a regional casino operator, in a deal that values Bally's at $4.6 billion and was crafted by five law firms.
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July 25, 2024
Ore. Court Won't Toss Law Capping Taxable Home Values
A homeowner's attempt to lower the taxable value of his property was denied by the Oregon Tax Court, which said it did not have the authority to determine whether a law capping annual taxable value increases for some properties was unconstitutional.
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July 24, 2024
How Hinckley Allen Took On Rhode Island Beach-Access Law
A Rhode Island judge this month sided with beachfront property owners, represented by Hinckley Allen & Snyder LLP, ruling that a 2023 law that shifts the public access line landward amounts to a taking.
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July 24, 2024
Top Texas Real Estate News In 2024 So Far
Catch up on the hottest real estate news out of Texas so far this year, from data center construction and roadblocks in a major rail project to a Texas landowner's win in a takings suit and the U.S. Department of Justice's first predatory mortgage suit.
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July 24, 2024
Latham-Led Warehouse Giant Lineage Inks Year's Largest IPO
Cold-storage warehouse giant Lineage Inc. on Wednesday priced an upsized $4.4 billion initial public offering within its range, represented by Latham & Watkins LLP and underwriters counsel Goodwin Procter LLP, marking the year's largest IPO to date.
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July 24, 2024
Real Estate Buyer Says Developer Can't Arbitrate His Claims
A Miami-based venture capitalist has told a New York federal judge that real estate firm Desarrolladora La Ribera can't simultaneously invoke and reject arbitration clauses in a defamation suit against him and another homebuyer in a luxury Four Seasons-branded development in Los Cabos, Mexico.
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July 24, 2024
Connecticut Justices Won't Certify 'Slum' Tenant Class
A Connecticut state court judge was under no obligation to redefine a proposed class of low-income tenants in order to help them meet the certification requirements in a fraud and unfair trade practices lawsuit against their corporate landlord and property manager, the state Supreme Court hs ruled.
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July 24, 2024
CFPB Warns Of Anti-Whistleblower Risk In NDAs That 'Muzzle'
The Consumer Financial Protection Bureau cautioned Wednesday that banks and other financial firms risk violating federal law if they require their employees to sign broad nondisclosure agreements that don't clearly allow them to talk freely with regulators or law enforcement.
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July 24, 2024
NJ Atty Suspended For Using Client Funds From RICO Cases
The New Jersey Supreme Court this week issued a three-year suspension against an attorney accused of misusing client funds from a racketeering case to buy a new computer system and pay his wife for paralegal services.
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July 24, 2024
CFIUS Reviews Slumped In 2023, Penalties Increased
The Committee on Foreign Investment in the United States experienced a significant drop in the number of cases it reviewed in 2023, but levied a record number of penalties last year, according to an annual report to Congress.
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July 24, 2024
IRS Sets Criteria For Carbon Capture Credit Life Cycle Report
The Internal Revenue Service detailed standards and procedures Wednesday for a written report on a carbon sequestration facility's greenhouse gas emissions that project owners must submit and get agency approval on before claiming the carbon oxide tax credit.
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July 24, 2024
Ex-McElroy Deutsch Exec Says Ch. 11 Doesn't Pause Claims
A former McElroy Deutsch executive told a New Jersey state court that just because her husband — former McElroy Deutsch chief financial officer John Dunlea — has filed for bankruptcy does not mean she needs to pause her claims against the firm for discrimination and retaliation.
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July 24, 2024
Polsinelli Gains Real Estate Finance Pro In DC From Sidley
Polsinelli PC announced Wednesday that it has continued to deepen its real estate finance bench with a counsel in Washington, D.C., who arrived from Sidley Austin LLP.
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July 23, 2024
Colo. Judges Want Clarity On When Moot Cases Need Rulings
Colorado appellate judges on Tuesday pushed a popular ski town to define what makes a case of "great public importance," as a major resort company argued its land fight with the town is weighty enough that the judges should rule even if the actual dispute is now moot.
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July 23, 2024
Ill. City Says Reparations Opponents Have No Standing
The city of Evanston, Illinois, has urged a federal judge to toss a proposed class action alleging a 2020 housing reparation program in the city is discriminatory, saying the plaintiffs lack standing since they are not local residents and do not own property in Evanston.
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July 23, 2024
Tax Foreclosure Kickback Suit Too Late, Mich. County Says
A Wayne County, Michigan, treasurer has argued in Michigan federal court that a putative class action accusing the county and other parties of engaging in a tax foreclosure and kickbacks scheme is time-barred.
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July 23, 2024
6th Circ. Affirms Insurer's Early Win In Hail Damage Suit
A welding company wasn't owed coverage for roof damage caused by wind and a hailstorm, the Sixth Circuit ruled, finding that a lower court didn't err in ruling that a cosmetic-damage exclusion in its policy precludes the damage at issue.
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July 23, 2024
Biz Groups Form Lobby Effort To Fight FCC Bulk Billing Rules
Bulk billing agreements are often a boon for people living in apartment buildings and condos, according to a new coalition made up of multifamily housing organizations and a cable trade group, which was formed to push the Federal Communications Commission to reconsider banning such arrangements.
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July 23, 2024
No Victims, No Fraud, Trump Says In $465M Judgment Appeal
Donald Trump has appealed the $465 million judgment against him, arguing that the New York attorney general exceeded her authority in her civil fraud suit against the former president because the statute in question does not apply to victimless transactions.
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July 23, 2024
Ariz. Court OKs Hospital District Tax For Legal Costs
A property tax levied to fund an Arizona hospital district's expenses including legal fees was properly authorized and did not require approval by voters, the Arizona Tax Court said, rejecting a suit by a local taxpayer.
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July 23, 2024
Insurers Must Defend Well Driller In Lead Contamination Suit
Insurers must defend a drilling company accused of contaminating a rental property's water supply with dangerous levels of lead, a Montana federal court ruled, saying they haven't shown the underlying claims fall outside the policies' insuring agreements or are otherwise excluded from coverage.
Expert Analysis
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A Post-Mortem Analysis Of Stroock's Demise
After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.
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Assessing The Future Of Colorado's Economic Loss Rule
The Colorado Supreme Court's decision to review a state appellate court's ruling in Mid-Century Insurance Co. v. HIVE Construction will significantly influence the future of Colorado's economic loss rule, with high stakes for the cost of doing business in the state, says David Holman at Crisham & Holman.
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Series
Coaching High School Wrestling Makes Me A Better Lawyer
Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.
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How Recent Laws Affect Foreign Purchase Of US Real Estate
Early diligence is imperative for U.S. real estate transactions involving foreign actors, including analysis of federal and state foreign investment laws implicated by the transaction, depending on the property's nature and location, the parties' citizenship, and the transaction's structure, say Massimo D’Angelo and Anthony Rapa at Blank Rome.
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Opinion
New La. Gas Pipeline Projects Must Respect Rules And Rights
As pipeline developers rush to join in Louisiana's Haynesville Shale gas boom, established operators like Energy Transfer are justified in demanding that newer entrants respect safety rules, regulatory requirements and property rights when proposing routes that would cross existing pipelines, says Joshua Campbell at Campbell Law.
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SG's Office Is Case Study To Help Close Legal Gender Gap
As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.
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Reducing Carbon Footprint Requires A Tricky Path For CRE
As real estate owners find themselves caught between rapidly evolving environmental, social and governance initiatives and complicated societal debate, they will need to carefully establish formal plans to remain both competitive and compliant, say Michael Kuhn and Mahira Khan at Jackson Walker.
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New CMS Rule Will Change Nursing Facility Disclosures
A new rule from the Centers for Medicare & Medicaid Services significantly expands disclosure requirements for nursing facilities backed by private equity companies or real estate investment trusts, likely foreshadowing increased oversight that could include more targeted audits, say Janice Davis and Christopher Ronne at Morgan Lewis.
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What New Calif. Strike Force Means For White Collar Crimes
The recently announced Central District of California strike force targeting complex corporate and securities fraud — following the Northern District of California's model — combines experienced prosecutorial leadership and partnerships with federal agencies like the IRS and FBI, and could result in an uptick in the number of cases and speed of proceedings, say attorneys at MoFo.
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What Shareholder Approval Rule Changes Mean For Cos.
The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.
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Reimagining Law Firm Culture To Break The Cycle Of Burnout
While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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Zimbabwe Ruling Bolsters UK's Draw As Arbitration Enforcer
An English court's recent decision in Border Timbers v. Zimbabwe, finding that state immunity was irrelevant to registering an arbitration award, emphasizes the U.K.'s reputation as a creditor-friendly destination for award enforcement, say Jon Felce and Tulsi Bhatia at Cooke Young.
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Series
ESG Around The World: Brazil
Environmental, social and governance issues have increasingly translated into new legislation in Brazil since 2020, and in the wake of these recently enacted regulations, we are likely to see a growing number of legal disputes in the largest South American country related to ESG issues such as greenwashing if companies are not prepared to adequately adapt and comply, say attorneys at Mattos Filho.
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Series
Competing In Dressage Makes Me A Better Lawyer
My lifelong participation in the sport of dressage — often called ballet on horses — has proven that several skills developed through training and competition are transferable to legal work, especially the ability to harness focus, persistence and versatility when negotiating a deal, says Stephanie Coco at V&E.
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High Court Case Could Reshape Local Development Fees
If last month's oral arguments are any indication of how the U.S. Supreme Court will rule in Sheetz v. County of El Dorado, it's unlikely the justices will hold that the essential nexus and rough proportionality tests under the cases of Nollan, Dolan and Koontz apply to legislative exactions, but a sweeping decision would still be the natural progression in the line of cases giving property owners takings claims, says Phillip Babich at Reed Smith.