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Real Estate
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October 23, 2024
Investor Tied To Texas AG Seeks Investigation Info From Feds
Real estate investor Nate Paul is looking to get more information from federal prosecutors about their investigation into federal fraud charges he's facing — topics that featured prominently during the failed impeachment of Texas Attorney General Ken Paxton — according to court filings from U.S. Attorney's Office employees.
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October 23, 2024
Judge Says $85M Signature Bank Lawsuit Came Too Late
A New York federal judge has permanently tossed a lawsuit brought by a developer and its affiliates alleging that a former Signature Bank employee fraudulently misled them into unfavorable financial transactions, saying the claims are time-barred under the bank's one-year statute of limitations and not adequately pled.
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October 23, 2024
9th Circ. Judge Suggests Equity Pact Counts As Wash. Loan
A Ninth Circuit judge said Wednesday he was "struggling with" a company's stance that its equity-sharing agreement with two homeowners in Washington state doesn't amount to a loan covered by state laws regulating reverse mortgages, saying the arrangement appears to check the boxes of the statutory definition.
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October 23, 2024
NJ City Permitted Bigger Project To End Suit, Opponent Says
A property owner's nonprofit has brought a new lawsuit claiming that the city of Hoboken, New Jersey, gave a developer more than $50 million in project benefits in a settlement that could nearly double the scope of a pair of mixed-use developments along the scenic Palisades cliffs.
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October 23, 2024
Religion Law Can't Save Sacred Worship Site, High Court Told
A law designed to protect religious freedom can't help an Apache nonprofit's bid to save a sacred worship site in Arizona from destruction, the federal government said, arguing that the tribe is asking the U.S. Supreme Court to nullify a congressional statute crafted to allow federal third-party land transfers.
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October 23, 2024
USDA Unveils $1.5B In Conservation, Climate-Smart Projects
The U.S. Department of Agriculture on Wednesday revealed a $1.5 billion investment in 92 partner-driven conservation projects through the agency's Regional Conservation Partnership Program.
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October 23, 2024
Judge Says Ex-Steward Hospital Nurse Row Out Of His Hands
A Texas bankruptcy judge Wednesday declined to order the new owner of former Steward Health Care hospitals in Massachusetts to take back changes to nurses' union contracts it assumed under his sale order, saying it wasn't up to him to make the call.
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October 23, 2024
Securities Claim Cut From Fraud Suit Against Calif. Developer
A California federal judge trimmed a securities claim from a Sonoma resident's suit against a real estate company embroiled in a fraud scandal and recommended that the rest of the claims be brought in state court.
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October 23, 2024
Where Harris, Trump Stand On Housing, Wall Street Landlords
In the run-up to the November presidential election, Kamala Harris has made housing one of the keystones of her campaign platform as she seeks to take on Wall Street landlords and tackle a nationwide housing affordability crisis, while Donald Trump believes illegal immigration is largely to blame for rising home prices.
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October 23, 2024
Ex-SEC Atty, Fintech GC Joins Stradling's Securities Team
Stradling Yocca Carlson & Rauth PC has added a former fintech general counsel and U.S. Securities and Exchange Commission attorney, reinforcing the firm's offerings for companies facing enforcement investigations or grappling with other compliance issues.
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October 23, 2024
Jones Day Brings Back RE Ace In Dallas From Winstead
Jones Day announced Wednesday that it is boosting its real estate offerings in Dallas with a returning attorney whose regional knowledge and industry experience will be a "real asset" to clients and who previously practiced in the area with Winstead PC.
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October 23, 2024
Ga. Firm Owner Denies SEC Ponzi Scheme Allegations
The owner of an Atlanta-area firm accused of running a multimillion-dollar "classic Ponzi scheme" has denied all wrongdoing, telling a Georgia federal judge he merely acted in reasonable reliance on others' advice and experience.
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October 23, 2024
2nd Circ. Backs Early Wells Fargo Win In $100M RMBS Case
The Second Circuit on Wednesday approved an early win for Wells Fargo in a lawsuit brought by Commerzbank AG alleging it lost $100 million investing in residential mortgage-backed securities, saying the German lender didn't have standing to sue.
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October 23, 2024
MVPs: Wachtell's Adam Emmerich & Robin Panovka
Adam Emmerich and Robin Panovka of Wachtell Lipton Rosen & Katz's real estate practice group guided Spirit Realty Capital Inc. in its $9.3 billion all-stock acquisition by Realty Income Corp., one of a string of multibillion-dollar acquisitions that earned the practice group leaders a spot as one of the 2024 Law360 Real Estate MVPs.
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October 22, 2024
'Dewberry' Ruling Doesn't Threaten Corporate Veil, Justices Told
An engineering company that won millions of dollars in a trademark case against a real estate developer that tried to use the "Dewberry" name for a hotel told the U.S. Supreme Court Tuesday to let that ruling stand, arguing that the Fourth Circuit ruling in its favor doesn't undermine the corporate veil.
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October 22, 2024
Copper Mining Co. Asks High Court To Toss Sacred Site Suit
A copper mining company that wants to build operations in a tribally sacred part of the Tonto National Forest has asked the U.S. Supreme Court to toss a challenge to a Ninth Circuit ruling that allows for the transfer of nearly 2,500 acres of land.
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October 22, 2024
NY Judge Trims HOA's Nuisance Suit Against Queens Stadium
A New York state court judge has pared a Forest Hills, Queens, homeowners association's nuisance suit against a local stadium owner accused of disturbing the neighborhood with lots of noise, traffic and crowds.
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October 22, 2024
Tribe, Feds Reach Deal Over National Preserve Site
The federal government, joined by the Pueblo of Jemez, called on the Tenth Circuit to amend its March 2023 ruling granting the tribe title to a portion of the Valles Caldera National Preserve after the parties reached a settlement agreement concerning how the title will be effectuated.
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October 22, 2024
NJ Panel Revives Casino Tax Break Amendment
A New Jersey state appeals court has reinstated an enhanced casino tax break measure that a trial court had deemed unconstitutional, reasoning that the judge neglected to analyze the measure's interplay with the law it amended.
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October 22, 2024
Insurer Wants Payback For Brick Drop On Pa. Law Firm
Bricks and debris fell from an old office building in downtown Pittsburgh, causing more than $51,000 in damage to the roof of Pisanchyn Law Firm, and the insurer of the property housing the firm told a Pennsylvania state court it wants payback.
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October 22, 2024
Wafer Factories Qualify For CHIPS Tax Credit In Final Regs
Semiconductor wafer production facilities will qualify for the 25% investment tax credit that incentivizes advanced chip manufacturing development projects under final regulations the U.S. Department of the Treasury released Tuesday.
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October 22, 2024
Winston & Strawn Boosts Transactions Team With NY Tax Atty
As Winston & Strawn LLP continues to build out its transactions team, the firm has hired a new attorney from Hunton Andrews Kurth LLP with a focus on the tax aspects of real estate financing.
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October 22, 2024
Madigan Ally's Favors Were '100% Legal,' Not Bribes, Jury Told
Counsel for an ex-lobbyist standing trial on public corruption charges alongside former Illinois House Speaker Michael Madigan told an Illinois federal jury Tuesday that the government is treating legal lobbying activity as bribery, and that his client did "100% legal favors" for Madigan to establish trust and maintain access to the powerful politician.
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October 22, 2024
Insurer Beats Sacramento Kings' COVID-19 Coverage Suit
A California federal court handed a win to the Sacramento Kings' insurer in a coverage dispute over pandemic-related losses that the basketball team and its arena operator incurred, finding that a contamination exclusion bars coverage.
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October 22, 2024
Housing Biz Engaged In 'Rent-To-Own' Fraud, Renters Say
A proposed class of renters has accused homeownership company Landis Technologies Inc., its affiliates and multiple investment firms in Pennsylvania federal court of running a fraudulent rent-to-own scheme.
Expert Analysis
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
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Yellow Corp. Lease Assumption Shows Landlord Protections
Yellow Corp.’s recent filing of a motion to assume unexpired leases is a helpful reminder to practitioners to maintain a long-term approach about what is most beneficial for an estate and to not let a debtor's short-term cash position dictate business decisions, says Kyle Arendsen at Squire Patton.
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Firms Must Rethink How They Train New Lawyers In AI Age
As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.
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High Court's BofA Ruling Leaves State Preemption Questions
A recent U.S. Supreme Court decision in Cantero v. Bank of America sheds light on whether certain state banking regulations apply to federally chartered banks, but a circuit split could still force the Supreme Court to take a more direct position, says Brett Garver at Moritt Hock.
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Think Like A Lawyer: Always Be Closing
When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.
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How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet
A California bumblebee's listing as an endangered species could lead to a regulatory quagmire as California Department of Fish and Wildlife permits now routinely include survey requirements for the bee, but the regulator has yet to determine what the species needs for conservation, says David Smith at Manatt.
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The Clock Is Ticking For Fla. Construction Defect Claims
Ahead of the fast-approaching July 1 deadline for filing construction defect claims in Florida, Sean Ravenel at Foran Glennon discusses how the state's new statute of repose has changed the timeline, and highlights several related issues that property owners should be aware of.
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Wiretap Use In Cartel Probes Likely To Remain An Exception
Although the U.S. Department of Justice's Antitrust Division has recently signaled interest in wiretaps, the use of this technology to capture evidence of antitrust conspiracies and pursue monopolization as a criminal matter has been rare historically, and is likely to remain so, say Carsten Reichel and Will Conway at DLA Piper.
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Series
Playing Chess Makes Me A Better Lawyer
There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.
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Litigation Inspiration: Attys Can Be Heroic Like Olympians
Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.
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Lean Into The 'Great Restoration' To Retain Legal Talent
As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.
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Debate Over CFPB Definition Of Credit Is Just Beginning
The Consumer Financial Protection Bureau has recently worked to expand the meaning of credit, so anyone operating on the edges of the credit markets, or even those who assumed they were safely outside the scope of this regulatory perimeter, should pay close attention as legal challenges to broad interpretations of the definition unfold, says John Coleman at Orrick.
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A Closer Look At Feds' Proposed Banker Compensation Rule
A recently proposed rule to limit financial institutions' ability to award incentive-based compensation for risk-taking may progress through the rulemaking process slowly due to the sheer number of regulators collaborating on the rule and the number of issues under consideration, say attorneys at Troutman Pepper.
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Opinion
The FTC And DOJ Should Backtrack On RealPage
The antitrust agencies ought to reverse course on their enforcement actions against RealPage, which are based on a faulty legal premise, risk further property shortages and threaten the use of algorithms that are central to the U.S. economy, says Thomas Stratmann at George Mason University.
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Series
Fishing Makes Me A Better Lawyer
Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge at Robinson Bradshaw.