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Real Estate
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October 25, 2024
'Starting Point' Algorithm Enough To Fix Prices, DOJ Says
The Justice Department is using the first algorithmic price-fixing case to reach an appeals court to argue that just because an algorithm only set "starting points" doesn't make its use legal, in a Ninth Circuit amicus brief backing efforts to revive a room rate lawsuit against Las Vegas casino hotels.
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October 25, 2024
Hawkins Delafield Career Atty Moves To Nixon Peabody In SF
Nixon Peabody LLP hired a Hawkins Delafield & Wood LLP partner who has spent his entire legal career with that firm working on public finance tax matters and a range of other tax-related matters, the firm has announced.
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October 25, 2024
Wells Fargo Wants Quick Win In NYC Office Foreclosure Suit
Wells Fargo is urging a New York federal court to grant it an early win in its commercial mortgage foreclosure suit as it seeks to take control of a midtown Manhattan office building after the owner fell behind on its $31.5 million loan.
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October 25, 2024
Polsinelli Real Estate Shareholder Joins Kilpatrick In SF
Kilpatrick Townsend & Stockton LLP announced on Thursday the hiring of a former principal and shareholder at Polsinelli as a counsel in its San Francisco office.
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October 25, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the Competition and Markets Authority take action against a mattress retailer after it was caught pressuring its customers with misleading discounts, Lenovo and Motorola target ZTE Corporation with a patents claim, Lloyds Bank hit by another claim relating to the collapse of Arena Television and U.K. tax authority HMRC sued by the director of an electronics company that evaded millions of pounds in VAT. Here, Law360 looks at these and other new claims in the U.K.
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October 25, 2024
Brother Of 'Office' Star Can't Use Mass. Property For Events
The older brother of "The Office" actor-director John Krasinski has been slapped with an injunction blocking him from hosting public events on a 10-acre campus he owns in Massachusetts that local officials say violates fire safety, health and building codes.
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October 25, 2024
Cleveland Browns Sue City To Protect Stadium Move Plan
The Cleveland Browns took their city to Ohio federal court to protect their plan to move the NFL team to an adjacent town, saying a Buckeye State law restricting how and when sports teams can move out of taxpayer-supported stadiums is unconstitutional.
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October 25, 2024
Adams Rips Feds, Calling Explanation For Leaks 'Far-Fetched'
Attorneys for New York City Mayor Eric Adams on Friday renewed their claims that the prosecutors handling his bribery and corruption case leaked secret grand jury information to the press, arguing that the alternative explanation that either Adams or his co-defendants made the leaks was a "far-fetched claim."
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October 24, 2024
2nd Circ. Largely OKs Gun Control Law After High Court Order
The Second Circuit on Thursday stood by its previous decision that largely vacated an order enjoining several of New York's gun restrictions, saying a recent U.S. Supreme Court ruling the high court told it to consider on remand had "little direct bearing" on its prior conclusions.
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October 24, 2024
UCLA Strikes Out On Bid To Join Row Over Baseball Facility
A California federal judge rejected The Regents of the University of California's bid to intervene in a class action filed by disabled, homeless military veterans who accused the federal government of misusing a Los Angeles campus that they claim was intended for housing veterans.
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October 24, 2024
La. Biz Development Office Extends Industrial Tax Break Regs
An emergency rule in Louisiana extended the effectiveness of regulations implementing a recently issued gubernatorial executive order that made several adjustments to the state's industrial tax exemption program.
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October 24, 2024
Judge Halts Nev. Home Seller Action Amid NAR Settlement Talk
A Nevada federal judge has agreed to extend the pause for a proposed class action from Nevada home sellers against the National Association of Realtors and a collection of multiple listing services, as the defendants come to nationwide settlements with litigants in other cases.
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October 24, 2024
EPA, Air Force Commit To PFAS Plan For Tucson Airport
The U.S. Environmental Protection Agency and the Air Force said they're committing to a framework to address "forever chemical" contamination at the Tucson International Airport Area Superfund Site in southeastern Arizona.
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October 24, 2024
Atlanta Demands End To Almost-Starbucks Demolition Suit
The City of Atlanta has asked a Georgia federal judge to finally put an end to a suit from a company that says the city illegally initiated condemnation proceedings against a disused restaurant property, telling the court the suit contains "no substantive claims regarding any federal question."
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October 24, 2024
Conn. High Court Snapshot: $13M Tax Appeals, Will Dispute
The Connecticut Supreme Court's second term of the 2024-2025 season will commence Monday with a dispute over whether an attorney bungled a will that sought to divide a $845,368 TD Ameritrade account among five beneficiaries, only one of whom received any cash.
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October 24, 2024
Minn. Tax Court Won't Cut Value Of $1M Home
A residential property in Minnesota was correctly valued by a local assessor at about $1 million, the state tax court ruled, saying the owners' sales comparison analysis of the value was insufficient to cast doubt on the county's determination.
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October 23, 2024
Mich. Panel Reverses Insurer's $1.2M Fire Subrogation Win
A Michigan state appeals court rejected a property insurer's subrogation bid against commercial tenants over a roughly $1.2 million building fire, finding that while the tenants' lease generally required them to keep their property in good condition, there was no specific provision holding them liable for their own negligence.
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October 23, 2024
CFPB, Chicago-Area Lender Say Redlining Suit Deal Is 'Likely'
The Consumer Financial Protection Bureau and a Chicago-area mortgage lender have said in a filing that they could be close to settling claims that the lender illegally disparaged majority-Black neighborhoods.
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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.
Expert Analysis
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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.
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How Retail Tenants Can Avoid Paying Rent Prematurely
When negotiating leases for spaces in shopping centers, retail tenants should ensure that the language specifies they only need to begin paying rent when the center is substantially occupied as a whole, as it can be difficult to modify leases that are executed without co-tenancy requirements or termination rights, say Joshua Bernstein and Benjamin Joelson at Akerman.