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Real Estate
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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.
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October 15, 2024
Justices Reject Homebuilder Case Over Minn. Fee Scale
The U.S. Supreme Court has refused to hear claims from a homebuilders' trade group that a court failed to consider whether "valuation-based" permit fees that scale higher for more expensive projects should match the support two Minneapolis suburbs provide.
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October 11, 2024
Real Estate Recap: Rating Climate Risk, Window Tech, Towers
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a data-driven look at how climate risk is calculated for property owners, what one proptech company is doing to improve high-rise window-washing, and a new tracker following the tallest tower projects in the United States.
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October 11, 2024
11th Circ. Reinstates, Remands Alabama Burial Ground Fight
An Eleventh Circuit panel on Friday vacated and remanded a lower court's order in a fight between two Alabama tribes over a sacred burial site, saying it failed to review the litigation's sovereign immunity issues on a claim-by-claim basis.
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October 11, 2024
Fla. Suit Over $79M Bezos Property Purchase Moves Forward
A Florida state court judge on Friday denied a motion to dismiss a lawsuit accusing a real estate broker of misrepresenting that Amazon founder Jeff Bezos wasn't the true purchaser of a $79 million property on Miami's exclusive Indian Creek Island, causing the seller to reduce the listing price by millions.
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October 11, 2024
Wash. Tribal Panel Upholds Eviction Ruling Against Families
An appeals court for Washington state's Nooksack Indian Tribe has declined to reconsider a ruling that would evict a group of families claiming title under a federal homeownership program.
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October 11, 2024
Parties Look To Vacate 40-Year-Old Ore. Tribal Fishing Decree
The U.S. government, Oregon and a Native American tribe are asking a federal court to vacate a 1980 agreement that established hunting and fishing rights for the tribe, arguing that the consent decree was a product of its time and represented a distorted view on tribal sovereignty.
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October 11, 2024
RICO Suit Accuses VC Co. Of Falsely Claiming Native Ties
Three California corporations have hit the owners and operators of a venture capital firm with a racketeering suit in federal court, accusing them of falsely claiming they have Native American ties and can procure grants and loans for development projects managed by non-Native entrepreneurs.
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October 11, 2024
EB-5 Investor Urges Rollback Of Immigration Fee Hikes
An EB-5 immigrant investor urged a Colorado federal judge to set aside controversial immigration fee increases that took effect in April, arguing that a 2022 law required a study from the U.S. Department of Homeland Security before the immigrant investor program fees could be raised.
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October 11, 2024
Bellwether Plaintiffs Let Halliburton Escape Pollution Dispute
Two bellwether plaintiffs in litigation seeking to hold the owners and operators of a former pipe manufacturing facility liable for contamination have agreed to permanently drop their claims against Halliburton Energy Services.
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October 11, 2024
J&J Should Pay $30M For Developer's Cancer, Conn. Jury Told
Attorneys for a western Massachusetts real estate developer on Friday urged a Connecticut jury to award $30 million for past and future suffering to a lifelong Johnson & Johnson baby powder user diagnosed with mesothelioma, but the company's attorneys suggested $4 million was a more reasonable figure while contesting liability whatsoever.
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October 11, 2024
Julie Chrisley Appeals Ga. Judge's Resentencing Ruling
Former real estate mogul and reality television star Julie Chrisley, who was convicted of running a yearslong bank fraud scheme with her husband, Todd, is appealing a federal judge's decision to resentence her to the same seven-year prison term she first received nearly two years ago.
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October 11, 2024
Feds Designate 3rd-Largest Marine Sanctuary Off Calif. Coast
The Biden administration on Friday said the National Oceanic and Atmospheric Administration is designating more than 4,500 square miles of ocean off California's central coast as the Chumash Heritage National Marine Sanctuary.
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October 11, 2024
Fox Rothschild Aims To Exit Malpractice Suit Over Land Row
Fox Rothschild LLP has called on a New Jersey state court to throw out malpractice claims leveled against it by two siblings who accused a lawyer at the firm of bungling a 1984 property deed and 1993 trust belonging to their stepfather, arguing the sisters are trying to improperly hold it responsible for purported, decades-old negligence by other law firms.
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October 11, 2024
Indicted NJ Power Broker Says Civil Suit Belongs In Biz Court
Indicted Garden State power broker George E. Norcross III has asked a New Jersey state judge to transfer the civil racketeering suit brought against him and his attorney brother by a Philadelphia developer to the state's complex business litigation program.
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October 11, 2024
More Ga. PFAS Suits Are Coming. Here's How Attys Prepare
Leading attorneys in PFAS litigation say new regulations and ever-increasing lawsuits require attorneys to think carefully about proactive measures clients can take to limit PFAS use, and about the latest scientific research into how the so-called forever chemicals impact humans and the environment.
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October 11, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen billionaire Lakshmi Mittal sue steel magnate Sanjeev Gupta in a long-running clash to claw back €140 million ($153 million) of debt, a high-profile AI researcher take action against the Intellectual Property Office to register his software as a listed patent inventor and troubled housing trust Home Reit face a claim by a real estate developer. Here, Law360 looks at these and other new claims in the U.K.
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October 11, 2024
Minn. Tax Court Cuts $100K From Lakefront Cabin Value
A Minnesota lakefront cabin property was overvalued by a county assessor, the state's tax court said, reducing the assessment by more than $100,000 and rejecting the county's comparable sales analysis.
Expert Analysis
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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.
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This Earth Day, Consider How Your Firm Can Go Greener
As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.
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SEC Climate Rules Create Unique Challenges For CRE
The U.S. Securities and Exchange Commission's recently adopted final rules concerning climate-related disclosures for public companies are likely to affect even real estate companies that are not publicly traded, since they may be required to provide information to entities that are subject to the rules, says Laura Truesdale at Moore & Van Allen.
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New Proposal Signals Sharper Enforcement Focus At CFIUS
Last week's proposed rule aimed at broadening the Committee on Foreign Investment in the United States' enforcement authority over foreign investments and increasing penalties for violations signals that CFIUS intends to continue expanding its aggressive monitoring of national security issues, say attorneys at Kirkland.