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Real Estate
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July 25, 2024
4th Man Gets Jail In NYC Public Housing Anti-Bribery Sweep
A Manhattan federal judge on Thursday sentenced a former New York City public housing superintendent to 19 months in prison for accepting $95,000 in bribes, bringing to four the number of people sentenced to time behind bars in the 70-defendant anti-corruption sweep.
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July 25, 2024
Alaska Sues To Block Federal Land Conservation Rule
The state of Alaska is challenging a Bureau of Land Management rule that aims to conserve and protect public lands, saying the "vast majority" of the rule isn't allowed under state and federal law because of how it prioritizes "ecosystem resilience" over longtime policies.
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July 25, 2024
Mr. Cooper Picks Up Flagstar Resi Mortgage Unit For $1.4B
Flagstar Bank NA announced Thursday that it has inked a $1.4 billion deal to sell its residential mortgage servicing business to nonbank mortgage originator Mr. Cooper, as Flagstar and parent New York Community Bancorp eye a turnaround.
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July 25, 2024
Ohio Board Incorrectly Calculated Land, Improvement Value
An Ohio warehouse property had its land value incorrectly increased to $1.2 million, from $715,000, a state appeals court ruled Thursday after finding no evidence was presented that warranted a change in its value.
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July 25, 2024
Conn. Firm Accused Of Maliciously Pressing Fraud Suit
A Connecticut woman is accusing personal injury law firm Carter Mario PC of maliciously filing a lawsuit demanding she turn over her house in an effort to harass her after her ex-husband was unable to satisfy a $500,000 judgment in a separate case alleging voyeurism.
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July 25, 2024
Proskauer Adds Milbank Real Estate Atty In NY
Proskauer Rose LLP has hired a special counsel from Milbank LLP who joins the firm after six years with his prior platform to continue his practice focused on private equity investors and other clients involved in real estate and private fund matters, the firm announced Thursday.
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July 25, 2024
IRS, Zaxby's Co-Founder To Settle $43M Easement Suit
The Internal Revenue Service agreed to settle a $43 million valuation dispute over a conservation easement donated by the co-founder of the Zaxby's restaurant chain and his wife, prompting a Georgia federal court Thursday to cancel next month's anticipated jury trial.
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July 25, 2024
Bally's OKs Standard General's Takeover Valuing It At $4.6B
Bally's Corp. announced on Thursday its plans to merge with Standard General-owned The Queen Casino & Entertainment Inc., a regional casino operator, in a deal that values Bally's at $4.6 billion and was crafted by five law firms.
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July 25, 2024
Ore. Court Won't Toss Law Capping Taxable Home Values
A homeowner's attempt to lower the taxable value of his property was denied by the Oregon Tax Court, which said it did not have the authority to determine whether a law capping annual taxable value increases for some properties was unconstitutional.
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July 24, 2024
How Hinckley Allen Took On Rhode Island Beach-Access Law
A Rhode Island judge this month sided with beachfront property owners, represented by Hinckley Allen & Snyder LLP, ruling that a 2023 law that shifts the public access line landward amounts to a taking.
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July 24, 2024
Top Texas Real Estate News In 2024 So Far
Catch up on the hottest real estate news out of Texas so far this year, from data center construction and roadblocks in a major rail project to a Texas landowner's win in a takings suit and the U.S. Department of Justice's first predatory mortgage suit.
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July 24, 2024
Latham-Led Warehouse Giant Lineage Inks Year's Largest IPO
Cold-storage warehouse giant Lineage Inc. on Wednesday priced an upsized $4.4 billion initial public offering within its range, represented by Latham & Watkins LLP and underwriters counsel Goodwin Procter LLP, marking the year's largest IPO to date.
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July 24, 2024
Real Estate Buyer Says Developer Can't Arbitrate His Claims
A Miami-based venture capitalist has told a New York federal judge that real estate firm Desarrolladora La Ribera can't simultaneously invoke and reject arbitration clauses in a defamation suit against him and another homebuyer in a luxury Four Seasons-branded development in Los Cabos, Mexico.
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July 24, 2024
Connecticut Justices Won't Certify 'Slum' Tenant Class
A Connecticut state court judge was under no obligation to redefine a proposed class of low-income tenants in order to help them meet the certification requirements in a fraud and unfair trade practices lawsuit against their corporate landlord and property manager, the state Supreme Court hs ruled.
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July 24, 2024
CFPB Warns Of Anti-Whistleblower Risk In NDAs That 'Muzzle'
The Consumer Financial Protection Bureau cautioned Wednesday that banks and other financial firms risk violating federal law if they require their employees to sign broad nondisclosure agreements that don't clearly allow them to talk freely with regulators or law enforcement.
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July 24, 2024
NJ Atty Suspended For Using Client Funds From RICO Cases
The New Jersey Supreme Court this week issued a three-year suspension against an attorney accused of misusing client funds from a racketeering case to buy a new computer system and pay his wife for paralegal services.
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July 24, 2024
CFIUS Reviews Slumped In 2023, Penalties Increased
The Committee on Foreign Investment in the United States experienced a significant drop in the number of cases it reviewed in 2023, but levied a record number of penalties last year, according to an annual report to Congress.
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July 24, 2024
IRS Sets Criteria For Carbon Capture Credit Life Cycle Report
The Internal Revenue Service detailed standards and procedures Wednesday for a written report on a carbon sequestration facility's greenhouse gas emissions that project owners must submit and get agency approval on before claiming the carbon oxide tax credit.
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July 24, 2024
Ex-McElroy Deutsch Exec Says Ch. 11 Doesn't Pause Claims
A former McElroy Deutsch executive told a New Jersey state court that just because her husband — former McElroy Deutsch chief financial officer John Dunlea — has filed for bankruptcy does not mean she needs to pause her claims against the firm for discrimination and retaliation.
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July 24, 2024
Polsinelli Gains Real Estate Finance Pro In DC From Sidley
Polsinelli PC announced Wednesday that it has continued to deepen its real estate finance bench with a counsel in Washington, D.C., who arrived from Sidley Austin LLP.
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July 23, 2024
Colo. Judges Want Clarity On When Moot Cases Need Rulings
Colorado appellate judges on Tuesday pushed a popular ski town to define what makes a case of "great public importance," as a major resort company argued its land fight with the town is weighty enough that the judges should rule even if the actual dispute is now moot.
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July 23, 2024
Ill. City Says Reparations Opponents Have No Standing
The city of Evanston, Illinois, has urged a federal judge to toss a proposed class action alleging a 2020 housing reparation program in the city is discriminatory, saying the plaintiffs lack standing since they are not local residents and do not own property in Evanston.
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July 23, 2024
Tax Foreclosure Kickback Suit Too Late, Mich. County Says
A Wayne County, Michigan, treasurer has argued in Michigan federal court that a putative class action accusing the county and other parties of engaging in a tax foreclosure and kickbacks scheme is time-barred.
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July 23, 2024
6th Circ. Affirms Insurer's Early Win In Hail Damage Suit
A welding company wasn't owed coverage for roof damage caused by wind and a hailstorm, the Sixth Circuit ruled, finding that a lower court didn't err in ruling that a cosmetic-damage exclusion in its policy precludes the damage at issue.
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July 23, 2024
Biz Groups Form Lobby Effort To Fight FCC Bulk Billing Rules
Bulk billing agreements are often a boon for people living in apartment buildings and condos, according to a new coalition made up of multifamily housing organizations and a cable trade group, which was formed to push the Federal Communications Commission to reconsider banning such arrangements.
Expert Analysis
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Calif. Ruling Shows Limits Of Exculpatory Lease Clauses
A California court's recent decision in Epochal Enterprises v. LF Encinitas Properties, finding a landlord liable for failing to disclose the presence of asbestos on the subject property, underscores the limits of exculpatory clauses' ability to safeguard landlords from liability where known hazards are present, say Fawaz Bham and Javier De Luna at Hunton.
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What Nevada 'Superbasin' Ruling Means For Water Users
The Nevada Supreme Court's recent decision in Sullivan v. Lincoln County Water District, affirming that the state can manage multiple predesignated water basins as one "superbasin," significantly broadens the scope of water constraints that project developers in Nevada and throughout the West may need to consider, say attorneys at Perkins Coie.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q1
The first quarter of the year brought the usual onslaught of new regulatory developments in California — including a crackdown on junk fees imposed by small business lenders, a big step forward for online notarizations and a ban on predatory listing agreements, says Alex Grigorians at Hanson Bridgett.
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2nd Circ. Ruling Clarifies When Demand Letters Are Claims
The Second Circuit’s decision last week in Pine Management v. Colony Insurance, affirming that an insurer had no obligation to defend an insured for claims made before the policy period, provides clarity on when presuit demands for relief constitute claims — an important issue that may be dispositive of coverage, says Bonnie Thompson at Lavin Rindner.
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Series
Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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Former Minn. Chief Justice Instructs On Writing Better Briefs
Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.
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Preparing For Possible Calif. Criminal Antitrust Enforcement
Though a recent announcement that the California Attorney General's Office will resume criminal prosecutions in support of its antitrust enforcement may be mere saber-rattling, companies and their counsel should nevertheless be prepared for interactions with the California AG's Antitrust Section that are not limited to civil liability issues, say Dylan Ballard and Lillian Sun at V&E.
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.
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Payment Provision Lessons From NJ Construction Ruling
A New Jersey appellate court's decision in Bil-Jim v. Wyncrest, holding that an American Institute of Architects contract was not an installment contract, highlights both the complexities of statute of limitations calculations and the significant consequences that can arise from minor differences in contract language, say Mitchell Taraschi and Zac Brower at Connell Foley.
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Series
Spray Painting Makes Me A Better Lawyer
My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.
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Conn. Loan Law Tweaks May Have 3 Major Effects On Lenders
Recently proposed minor amendments to Connecticut’s consumer protection laws could nonetheless mean major and unexpected changes to state consumer financial services regulations that dictate how lenders and their customer-facing service providers handle fee payments, mortgage servicer licensing and private student loans, says Jonathan Joshua at Joshua Law Firm.
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A Legal Playbook For Stadium Construction Agreements
As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.
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Opinion
Judicial Independence Is Imperative This Election Year
As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.
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Document Retention Best Practices To Lower Litigation Risks
As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.
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Series
Riding My Peloton Bike Makes Me A Better Lawyer
Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.