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Real Estate
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July 30, 2024
No Damage Needed To Replace NJ Beach House, Panel Says
New Jersey property owners looking to replace an existing structure located in a flood hazard area don't have to show it's in an unusable condition, a state appellate panel ruled Tuesday, backing the state Department of Environmental Protection's denial of a request by neighbors to rescind a developer's permit to replace a beachfront home.
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July 30, 2024
Challenge To IRS Summons in $90M Easement Suit Tossed
A Mississippi federal judge dismissed a company's request to quash IRS summonses related to a $90 million conservation easement deduction, adopting the rulings of three sister jurisdictions that had dismissed the same challenge on grounds the summonses served a legitimate purpose.
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July 30, 2024
Feds Must Maintain Center's EB-5 Status During Fee Dispute
A Montana federal judge ordered U.S. Citizenship and Immigration Services to maintain a regional center's designation to participate in the EB-5 investor visa program while he reviews claims that the agency moved to terminate its designation without proper notice.
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July 30, 2024
Ropes & Gray Adds Partner To Int'l Tax Practice
Ropes & Gray LLP recently added a tax adviser with a wealth of experience navigating transactions, funds and investments for clients as a partner in its New York office, the firm said.
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July 30, 2024
Pot Cos. Can't Push RICO Claims Against Calif. City
A California federal judge has thrown out racketeering claims by six cannabis companies that accuse the city of Cudahy of illegally assessing fees, saying that because Congress listed cultivation and sale of cannabis under the definition of racketeering, they can't recover damages.
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July 29, 2024
Ky. Tower Sale Laundering Case Should Proceed, Judge Told
A Florida magistrate judge has recommended denying a bid by two Miami businessmen to toss litigation filed by the U.S. government looking to seize about $9.1 million from the sale of a Kentucky office tower over alleged ties to a Ukrainian money laundering scheme.
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July 29, 2024
Mich. Top Court Says 2020 Tax Foreclosure Ruling Retroactive
The Michigan Supreme Court on Monday gave retroactive effect to its 2020 decision that said local governments violate homeowners' rights by profiting from the sales of their tax-foreclosed homes, saying Michigan's "robust" history of protecting against takings weighs in favor of making the ruling retroactive.
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July 29, 2024
Conn. Justices OK Vrbo Host's Short-Term House Rentals
A divided Connecticut Supreme Court ruled Monday that a Vrbo host in Branford was allowed to rent out his property to vacationers under a set of regulations passed in 1994, before the local zoning board changed the rules in 2018 to ban his activities.
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July 29, 2024
CIM Group Funds $2.1B Real Estate Investment Platform
Real estate and infrastructure owner CIM Group on Monday announced that it has provided financing for the formation of a $2.1 billion investment platform called Round Hill Capital Ventures, which has acquired contracts for the assets previously managed by Round Hill Capital.
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July 29, 2024
Fraudster Faces Florida Condo Eviction Over Chain-Smoking
A Florida luxury condominium association has brought a state court lawsuit against an admitted real estate fraudster and seeks to have him removed as a tenant over his chain-smoking, saying he broke the terms of his lease but continues to reside in his condo unit.
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July 29, 2024
9th Circ. Rules Ch. 7 Debtor Can't Exempt Home From Estate
The Ninth Circuit ruled that a debtor in a Chapter 7 bankruptcy case in Washington state cannot pursue above-limit homestead exemption and that the remaining proceeds of her property should go to the bankruptcy estate, reversing the bankruptcy appellate panel's decision in 2022.
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July 29, 2024
Realtor.com Parent Fights Uphill For CoStar Injunction
A California federal judge appeared skeptical Monday of a preliminary injunction request from Realtor.com's parent company seeking to block rival CoStar from misappropriating trade secrets and unlawfully accessing its computers, saying the alleged theft doesn't appear to involve a secret "formula" but rather website content.
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July 29, 2024
Trademark Cases To Watch In The Second Half Of 2024
The U.S. Supreme Court will hear arguments in a trademark infringement case regarding disgorgement of profits from corporate affiliates, and The Pennsylvania State University is headed to trial against a sports apparel retailer in a case with potentially huge ramifications for merchandise licensing. Here is a look at the trademark cases to watch for the rest of the year.
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July 29, 2024
Mo. Menards Store Ruled Properly Valued At $17M
A Missouri Menards home improvement store was properly valued at $17 million by a county assessor because the store's appraiser failed to use comparable properties in his valuation, the state Tax Commission affirmed.
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July 29, 2024
Judge Ends Coverage Quest, Calls $2.7M Loss 'Foreseeable'
An Arizona federal judge granted a quick win to an insurer over $2.7 million in water damage losses claimed by an Arizona landlord, finding the losses were "foreseeable" and therefore not covered by the all-risk policy.
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July 29, 2024
Mich. Justices Uphold Power To Pause Pandemic Deadlines
The Michigan Supreme Court affirmed Monday that it had the power to suspend case filing deadlines for three months at the onset of the COVID-19 pandemic, ruling the temporary measure was not an overreach of the judiciary's authority.
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July 29, 2024
Catching Up With Delaware's Chancery Court
Litigation linked to Elon Musk sparked several filings in Delaware's Court of Chancery last week, including a call for sanctions and hand-wringing about a proposed multibillion-dollar attorney fee. Here, Law360 looks at this and other highlights from last week in Delaware's Chancery Court.
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July 29, 2024
Clean Energy Tax Credit Sales Could Hit $25B, Report Says
Total sales of clean energy tax credits could reach as high as $20 billion to $25 billion this year, signaling a flourishing marketplace for credit sales authorized by the 2022 climate law, according to a midyear report released Monday by a climate tech startup firm.
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July 29, 2024
Real Estate Co. Strikes Deal To End Black Worker's Bias Suit
A real estate company reached an agreement with a Black former worker to resolve his lawsuit accusing the company of denying him a bonus based on his race and then firing him when he complained, a filing in Georgia federal court said.
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July 29, 2024
Mich. Justices Say Subbed Atty Can't Be Sanctioned
Michigan's Supreme Court has ruled state statute doesn't require all attorneys representing a sanctioned party "be held jointly responsible for frivolous conduct," reversing a decision that imposed sanctions on an attorney who joined a real estate contract dispute after sanctionable conduct occurred.
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July 29, 2024
DC Taxes Due From Property Transfer Prior To Sale
A business that sold a commercial property in Washington, D.C., was properly assessed back taxes for a 2007 merger with a subsidiary, the District of Columbia Court of Appeals ruled.
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July 29, 2024
'Survivor' Winner Says He's Vulnerable In $3M Tax Battle
The winner of the first "Survivor" television season told a Rhode Island federal court Monday that the government was unfairly painting him as flouting nearly $3.3 million in federal tax liabilities stemming from his $1 million cash prize, saying he was "ill-equipped to battle prosecutors."
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July 26, 2024
Ex-Magistrate Judge Picked To Oversee Texas Insurance Fight
A New York federal judge has appointed a former magistrate judge to oversee a dispute between a Texas school district and several insurers who allegedly stiffed the district $17 million in damages following Hurricane Hanna.
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July 26, 2024
Miami Official Says Salary Is Exempt From $63.5M Judgment
A Miami lawmaker told a federal judge Friday that a portion of his monthly compensation shouldn't be withheld to pay a $63.5 million judgment against him for civil rights violations, testifying that he is the sole breadwinner of his household and should be exempt from having his salary garnished.
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July 26, 2024
Matterport Stockholder Sues In Del. For Books On Merger
A shareholder of 3D-imaging and digitization venture Matterport Inc. has launched a Delaware Court of Chancery lawsuit seeking company documents, citing concerns that the business was selling itself to global real estate analytics company CoStar Group in part to protect insider equity from pending litigation.
Expert Analysis
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How FinCEN Proposal Expands RE Transaction Obligations
Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.
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How Calif. Video Recording Ruling May Affect Insured Exams
A recent California appellate decision, Myasnyankin v. Nationwide, allowing policyholders to video record all parties to an insurance examination under oath, has changed the rules of the road for EUOs and potentially opened Pandora's box for future disputes, say John Edson and Preston Bennett at Sheppard Mullin.
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Litigation Inspiration: A Source Of Untapped Fulfillment
As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.
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Unpacking FinCEN's Proposed Real Estate Transaction Rule
Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.
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Series
Skiing Makes Me A Better Lawyer
A lifetime of skiing has helped me develop important professional skills, and taught me that embracing challenges with a spirit of adventure can allow lawyers to push boundaries, expand their capabilities and ultimately excel in their careers, says Andrea Przybysz at Tucker Ellis.
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Texas Insurance Ruling Could Restore Finality To Appraisal
The Texas Supreme Court's decision in Rodriguez v. Safeco, determining that full payment of an appraisal award precludes recovery of attorney fees, indicates a potential return to an era in which timely payment undoubtedly disposes of all possible policyholder claims, says Karl Schulz at Cozen O'Connor.
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Think Like A Lawyer: Forget Everything You Know About IRAC
The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.
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The Corporate Transparency Act Isn't Dead Yet
After an Alabama federal court's ruling last week rendering the Corporate Transparency Act unconstitutional, changes to the law may ultimately be required, but ongoing compliance is still the best course of action for most, says George Singer at Holland & Hart.
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New FinCEN Guide Provides Useful BOI Context For Banks
Financial institutions should review a new Financial Crimes Enforcement Network compliance guide for helpful details about how the agency's beneficial ownership information database should be used, though questions remain about the access rule and whether it will truly streamline bank borrowers' Corporate Transparency Act due diligence, says George Singer at Holland & Hart.
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How Firms Can Ensure Associate Gender Parity Lasts
Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.
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Opinion
Contractors Need Protection From NJ Homeowner Protections
A recently passed New Jersey law, combined with the state's Consumer Fraud Act, is intended to protect innocent homeowners, but legislative action must be taken to prevent homeowners from abusing the law to avoid paying hardworking contractors, say Gary Strong and Madison Calkins at Gfeller Laurie.
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Opinion
NY Shouldn't Pair 421-a Restoration And Good Cause Eviction
The good cause eviction system of rent control should not be imposed in New York, nor should its legislation be tied to renewal of the 421-a tax abatement program, which New York City desperately needs, says Alexander Lycoyannis at Holland & Knight.
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7 Common Myths About Lateral Partner Moves
As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.
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Series
Cheering In The NFL Makes Me A Better Lawyer
Balancing my time between a BigLaw career and my role as an NFL cheerleader has taught me that pursuing your passions outside of work is not a distraction, but rather an opportunity to harness important skills that can positively affect how you approach work and view success in your career, says Rachel Schuster at Sheppard Mullin.
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Series
ESG Around The World: Gulf Cooperation Council
The Gulf Cooperation Council is in the early stages of ESG policy implementation, but recent commitments by both states and corporations — including increases in sustainable finance transactions, environmental commitments, female representation on boards and human rights enforcement — show continuing progress toward broader ESG goals, say attorneys at Cleary.