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Real Estate
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October 16, 2024
11th Circ. Says No Claim For Taking Until Permit Is Denied
The Eleventh Circuit ruled Wednesday that Fane Lozman — houseboat owner, activist and thorn in the side of the Riviera Beach, Florida, city government — cannot yet bring his claims for a regulatory taking of his property against the city because he has not applied for a permit or zoning variance.
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October 16, 2024
Feds Deny That West Bank Sanctions Hamper Free Speech
The Biden administration rebuffed claims by a group of U.S. and Israeli citizens that a sanctions program covering extremist actors in the Israeli-occupied West Bank restricts their free speech rights, saying that merely opposing U.S. foreign policy goals isn't a sanctionable offense.
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October 16, 2024
Developers Push On After Mich. Township Bike Law Loss
Two developers urged a Michigan federal court to upend a Jamestown Charter Township ordinance under which some developers must fund the construction of bike paths, arguing that fees they were charged under the law were unconstitutional takings.
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October 16, 2024
NY State Judge Says He's Immune In Tribe's Eviction Suit
A New York state judge has urged a federal court to throw out a Cayuga Nation lawsuit accusing him of interfering with the tribe's sovereign authority as it looks to evict two tribal members from properties on reservation land, saying he is immune from the suit.
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October 16, 2024
NC Panel Won't Reignite Duke Energy Case Over House Fire
A split panel of the North Carolina Court of Appeals declined to revive a liability suit brought against Duke Energy Corp. and a contractor it hired to install new meters at its customers' homes after one of those contractors allegedly caused a bed to catch fire leading to $130,000 in damage.
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October 16, 2024
Calif. Community Flood Insurance Project Secures New Funds
California's water regulation authority will support a novel flood insurance program aimed at providing a tiny Central Valley town with coverage in the event of a major flood event, the state's insurance commissioner said Wednesday.
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October 16, 2024
Ex-NJ Atty Cops To $1.8M Theft From Dozens Of Clients
A disbarred Garden State real estate lawyer who plundered more than $1.8 million from 60 clients has entered a guilty plea in New Jersey state court to a charge of second-degree financial facilitation of criminal activity, according to a statement Wednesday from the Monmouth County prosecutor's office.
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October 16, 2024
Lender To Pay $10M To Settle Birmingham Redlining Claims
The Consumer Financial Protection Bureau and the U.S. Department of Justice said a mortgage lender the agencies accused of redlining in Birmingham, Alabama, will pay nearly $10 million and open a loan office in a majority-Black neighborhood to resolve the claims.
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October 16, 2024
Key Bank Blocking Hunt For Apt. Co-Op's $1.3M, Towns Say
Key Bank NA should be held in contempt of court because four insurance checks totaling $1.3 million seem to have vanished from a troubled housing co-op's accounts, and the bank is preventing a receiver in charge of the 924-unit Success Village Apartments from figuring out what happened, two Connecticut municipalities have said.
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October 16, 2024
Polsinelli Expands Real Estate Team With Ex-Seyfarth Partner
Polsinelli PC is continuing to add real estate talent to its ranks, announcing Tuesday that it has hired a partner from Seyfarth Shaw LLP to work out of its New York and Miami offices.
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October 16, 2024
4th Circ. Affirms Judgment In Foreclosure Bid-Rigging Case
The Fourth Circuit backed a North Carolina federal court and tossed part of an appeal by a real estate company founder and others of a jury verdict that they rigged bids in foreclosure auctions in violation of state and federal antitrust laws.
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October 15, 2024
CFPB Funding Shouldn't Stop Texas' Fraud Suit, Judge Says
A Houston federal magistrate judge has endorsed allowing the state of Texas to proceed with a real estate fraud suit against land developer Colony Ridge, rejecting objections tied in part to the Consumer Financial Protection Bureau's funding from Federal Reserve "earnings."
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October 15, 2024
Exec's $77M WeWork Offer Was Stupid, Not Fraud, Jury Told
Counsel for the former CEO of real estate investment firm Arciterra told a Manhattan federal jury Tuesday his client was a fool for making what prosecutors described as a fake $77 million tender offer for a controlling stake in WeWork before its bankruptcy, but he wasn't trying to falsely pump up the coworking company's stock price.
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October 15, 2024
Tribes, Backers Urge Justices To Take On Oak Flat Dispute
Tribes, religious groups and scholars are backing a bid in the U.S. Supreme Court to overturn a Ninth Circuit ruling allowing part of the Tonto National Forest that is sacred to the Western Apache to be destroyed for a copper mine proposed by a Rio Tinto and BHP venture.
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October 15, 2024
Standing Rock Sioux Ask Court To Shut Down Dakota Pipeline
The Standing Rock Sioux Tribe is asking a federal court to block a Texas-based energy company from continuing to operate the Dakota Access Pipeline, arguing its latest emergency response plan fails to include a realistic calculation of a worst-case scenario liquid discharge.
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October 15, 2024
Realtors Ask High Court To Quash DOJ Antitrust Probe
The National Association of Realtors has petitioned the U.S. Supreme Court for review of a ruling that would allow the U.S. Department of Justice's Antitrust Division to reopen an investigation into the trade group's rules and policies after an earlier settlement.
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October 15, 2024
Texas Insurance Chief Denies Last-Resort Insurer's Rate Hike
The Texas insurance commissioner rejected a 10% rate hike filed by the state's windstorm insurer of last resort, saying the increase would be unfair because of the hardships it would impose on Texas' coast.
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October 15, 2024
Mich. Judge Unsure If PE Firm's Loan Broke Usury Law
The interest rate on a private equity firm's loan to a Detroit house-flipping venture exceeded usury limits, but it was unclear whether the lender knowingly charged an excessive rate, a Michigan state judge ruled after the case returned from a trip to the Michigan Supreme Court.
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October 15, 2024
Three Cos. Combine On $3.4B Texas Data Center Complex
Blue Owl Capital, infrastructure firm Crusoe Energy Systems and investor Primary Digital Infrastructure said Tuesday they are pooling $3.4 billion to build a 1 million-square-foot data center campus in Abilene, Texas.
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October 15, 2024
Law Firm Ducks Sanctions Over Depos In NJ Malpractice Suit
A New Jersey state judge has declined to sanction Chaitman LLP in a dispute over the order of depositions in a malpractice lawsuit stemming from real estate litigation.
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October 15, 2024
J&J Hit With $15M Verdict In Builder's Mesothelioma Suit
A Connecticut state court jury on Tuesday slammed Johnson & Johnson and several subsidiaries with a $15 million compensatory damages verdict for a real estate developer who sought to hold the companies liable for his mesothelioma diagnosis.
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October 15, 2024
Lit Funder-Backed Co. Says NJ Judicial Privacy Law Is Valid
A New Jersey judicial privacy law is not unconstitutional since it requires that defendants act negligently by knowingly violating the law, a data privacy company said in seeking to prevent the dismissal of dozens of lawsuits, which the company also acknowledged are being funded by third-party litigation funder Parabellum Capital LLC.
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October 15, 2024
Simpson Thacher, Milbank Guide $2B DataBank Equity Raise
Data center developer and operator DataBank announced on Tuesday it has raised $2 billion in equity, led by AustralianSuper's $1.5 billion commitment, in an investment round arranged by Simpson Thacher and Milbank.
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October 15, 2024
Law Firms Diverge As Anti-ESG Pushback Continues
A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.
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October 15, 2024
The 2024 Law360 Pulse Social Impact Leaders
Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.
Expert Analysis
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The Art Of Asking: Leveraging Your Contacts For Referrals
Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.
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How 3D Printing And Prefab Are Changing Construction
The growing popularity of trends like 3D printing technology and prefabrication in the construction industry have positive ramifications ranging from reducing risks at project sites to streamlining construction schedules, say Josephine Bahn and Jeffery Mullen at Cozen O'Connor.
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Wave Of Final Rules Reflects Race Against CRA Deadline
The flurry of final rules now leaping off the Federal Register press — some of which will affect entire industries and millions of Americans — shows President Joe Biden's determination to protect his regulatory legacy from reversal by the next Congress, given the impending statutory look-back period under the Congressional Review Act, say attorneys at Jenner & Block.
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Class Actions At The Circuit Courts: April Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses three notable circuit court decisions on topics from the Class Action Fairness Act to consumer fraud — and provides key takeaways for counsel on issues including CAFA’s local controversy exception and Article III standing to seek injunctive relief.
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A Deep Dive Into High Court's Permit Fee Ruling
David Robinson and Daniel Golub at Holland & Knight explore the U.S. Supreme Court's recent ruling that a local traffic impact fee charged to a California property owner may be a Fifth Amendment taking — and where it leaves localities and real estate developers.
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Opinion
The Case For Overturning Florida Foreclosure Ruling
A Florida appellate court's recent decision in Desbrunes v. U.S. Bank National Association will potentially put foreclosure cases across the state in jeopardy, and unless it is reconsidered, foreclosing plaintiffs will need to choose between frustrating and uncertain options in the new legal landscape, say Sara Accardi and Paige Knight at Bradley.
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Series
Being An Equestrian Makes Me A Better Lawyer
Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.
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Bracing For The CFPB's War On Mortgage Fees
As the Consumer Financial Protection Bureau homes in on the legality of certain residential mortgage fees, the industry should consult the bureau's steady stream of consumer lending guidance for hints on its priorities, say Nanci Weissgold and Melissa Malpass at Alston & Bird.
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DOJ Consent Orders Chart Road Map For Lending Compliance
Two recent consent orders issued by the U.S. Department of Justice as part of its efforts to fight mortgage lending discrimination highlight issues that pose fair lending compliance risks, and should be carefully studied by banks to avoid enforcement actions, says Memrie Fortenberry at Jones Walker.
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4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.
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What To Consider When Buying RE Promissory Notes
In light of recent distress in the real estate market, note purchases — in which an investor buys a promissory note and mortgage rather than actual property — can be a worthwhile alternative to traditional investments, but require careful contemplation of unique risks and strategic considerations, say Douglas Praw and Katelyn DeMartini at Holland & Knight.
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Consider 2 Alternative Exit Plans In RE Distress Scenarios
In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a lengthy proceeding, say attorneys at BCLP.
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Reverse Veil-Piercing Ruling Will Help Judgment Creditors
A New York federal court’s recent decision in Citibank v. Aralpa Holdings, finding two corporate entities liable for a judgment issued against a Mexican businessman, shows the value of reverse veil piercing as a remedy for judgment creditors to go after sophisticated debtors who squirrel away assets, says Gabe Bluestone at Omni Bridgeway.
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Calif. Housing Overhaul May Increase Pressure On Landlords
Two recently enacted California laws signal new protections and legal benefits for tenants, but also elevate landlords' financial exposure at a time when they are already facing multiple other hardships, says Laya Dogmetchi at Much Shelist.
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Series
Whitewater Kayaking Makes Me A Better Lawyer
Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.