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Real Estate
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October 16, 2024
NYC Condo Building's Revised Ch. 11 Plan Gets Confirmation
A New York federal bankruptcy judge has confirmed the owner of a Manhattan condominium complex's revised Chapter 11 plan, signing off on the planned restructuring after initially sending it back for revisions in late September, according to a notice filed Wednesday.
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October 16, 2024
Feds, Md. Tell 4th Circ. Beltway Lane Expansion Is Fully Vetted
Federal and Maryland state transportation officials have told the Fourth Circuit that they thoroughly vetted air pollution, traffic congestion and other environmental concerns before approving an estimated $4 billion highway expansion project outside Washington, D.C., arguing that environmental groups have no grounds to sue to block the project.
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October 16, 2024
Rule Will Boost Alaskan Native Reps On Subsistence Board
The federal government on Wednesday announced a final rule that will strengthen Alaskan Indigenous representation on the Federal Subsistence Board by, for the first time, adding members nominated by the tribes that will be impacted by the board's decisions on the state's land and waters.
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October 16, 2024
11th Circ. Won't Nix OK Of Guatemalan Power Plant Award
The Eleventh Circuit refused Wednesday to vacate an arbitral award issued following a dispute over an ill-fated Guatemalan power plant construction project, rejecting arguments that the tribunal improperly turned a blind eye to alleged corruption underlying the project.
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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.
Expert Analysis
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Applying High Court's Domestic Corruption Rulings To FCPA
After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.
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Climate Among Many Factors Driving Up RE Insurance Costs
A proactive approach to risk management may determine the viability of the U.S. commercial real estate sector as weather crises and other factors drive insurance costs higher, says Ulrick Matsunaga at Crosbie Gliner.
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Proposed Mortgage Assistance Rule: Tips For Servicers
The Consumer Financial Protection Bureau's recent proposal to alter Regulation X mortgage servicing procedures to broadly construe requests for assistance, and stay foreclosure proceedings during loss mitigation review, will, if finalized, require mortgage servicers to make notable procedural changes to comply, says Louis Manetti at Locke Lord.
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How Multifamily Property Owners Can Plan For The EV Future
As the electric vehicle market expands, and federal and state incentives and mandates intended to promote EV use come into effect, owners and operators of multifamily residential properties should be prepared to meet the growing demand for onsite EV charging infrastructure, say Sydney Tucker and Andreas Wokutch at Frost Brown.
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Bid Protest Spotlight: Debriefings, Timeliness, Documentation
James Tucker at MoFo examines three recent decisions from the Federal Circuit, the U.S. Government Accountability Office and the U.S. Court of Federal Claims concerning an agency's decision not to hold post-award discussions, a timeliness trap in certain Federal Supply Schedule procurements and the importance of providing contemporaneous documentation in price-evaluation protests.
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Mental Health First Aid: A Brief Primer For Attorneys
Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.
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Fla. Insurer-Breach Cases Split On Unrepaired Property Issue
A Florida appellate court's recent decision in Universal v. Qureshi is directly at odds with a 2020 decision from another Florida appellate court, and raises important questions for policyholders and insurers about the proper measure of damages in breach claims involving unrepaired property, say Andrea DeField and Yaniel Abreu at Hunton.
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Series
Collecting Art Makes Me A Better Lawyer
The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.
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A Look At Recent Case Law On Expedited Judgment In NY
A number of recent New York state court decisions clarify and refine the contours surrounding Civil Practice Law and Rule 3213, providing landlords, lenders and other payees guidance on how to seek accelerated judgment in certain litigation, says Alexander Lycoyannis at Holland & Knight.
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Secret Service Failures Offer Lessons For Private Sector GCs
The Secret Service’s problematic response to two assassination attempts against former President Donald Trump this summer provides a crash course for general counsel on how not to handle crisis communications, says Keith Nahigian at Nahigian Strategies.
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Series
Colorado Banking Brief: All The Notable Legal Updates In Q3
In the third quarter of 2024, Colorado's banking and financial services sector faced both regulatory updates and changes to state law due to recent federal court decisions — with consequences for local governments, mortgage lenders, state-chartered trust companies and federally chartered lenders serving Colorado consumers, says Sarah Auchterlonie at Brownstein Hyatt.
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Litigation Inspiration: Honoring Your Learned Profession
About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.
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Series
In The CFPB Playbook: No Lazy, Hazy Days Of Summer
The Consumer Financial Protection Bureau is headed for a brisk fall season, on the heels of a heated summer, which included the U.S. Supreme Court's ruling that the CFPB funding structure is constitutional, and in advance of the November election, says Eamonn Moran at Holland & Knight.
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Opinion
AI May Limit Key Learning Opportunities For Young Attorneys
The thing that’s so powerful about artificial intelligence is also what’s most scary about it — its ability to detect patterns may curtail young attorneys’ chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.
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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.