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Real Estate
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August 27, 2024
Wells Fargo Says 'Good Faith' Efforts Ax Investors' Bias Suit
Wells Fargo & Co. urged a California federal judge Tuesday to toss a derivative lawsuit filed by a putative class of shareholders claiming the bank's board of directors failed to address its discriminatory lending and hiring practices, saying there's evidence of "good-faith" efforts to monitor compliance in those areas.
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August 27, 2024
2nd Circ. Urged To Reject Preemption Defense In BofA Row
The Second Circuit should join fellow federal courts in finding that a New York statute requiring all banks to pay at least 2% interest on mortgage-escrow accounts isn't preempted, a former Bank of America mortgage customer has told the appeals court following the U.S. Supreme Court's remand of the matter.
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August 27, 2024
Colo. House Advances Further Cuts To Property Tax Rates
The Colorado House advanced legislation Tuesday to limit property tax growth, a move supporters hope will also stave off a pair of ballot initiatives that critics say would devastate schools and other local services.
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August 27, 2024
Clark Hill Adds Atty In NYC From Schoeman Updike
Clark Hill PLC said Tuesday that it is bringing a litigator to its New York City office as a member, one with a focus on financial services and business disputes as well as experience ranging from intellectual property to real estate issues.
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August 27, 2024
Polluted Conn. Property Owner's Fraud Suit Deemed Too Late
The former owner of a contaminated Connecticut industrial property waited too long to sue the company that bought the site in 1999 on claims that the buyer fraudulently transferred funds to avoid paying for environmental cleanup, a state court judge has ruled.
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August 27, 2024
Madison Ave. Condo Owners File New Ch. 11
The corporate owner of a luxury Manhattan condominium complex has filed for Chapter 11 in a New York bankruptcy court in what it says is an attempt to resolve the disputed bankruptcy filing of the partnership that owns the corporation.
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August 27, 2024
Reports On 76ers Arena Proposal Don't Allay Chinatown's Fears
A series of studies released by the office of Philadelphia Mayor Cherelle Parker underscored unanswered questions and uneasiness coming from the neighboring Chinatown community about the potential effects of building a new arena in Center City, even if it brings new tax revenue.
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August 27, 2024
New Jersey Man Gets 3 Years In Prison For Forex Fraud
A New Jersey man deemed a "modern day snake oil salesman" by Philadelphia's top federal prosecutor has been sentenced to just over three years in prison for defrauding hundreds of investors out of more than $500,000.
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August 27, 2024
4 Firms Build Sixth Street's $250M Industrial REIT Investment
Sixth Street Partners plans to invest $250 million into Plymouth Industrial REIT through a joint venture and preferred equity deal packaged by four law firms, seeing more opportunities with the real estate investment trust on the horizon, according to an announcement Aug. 27.
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August 27, 2024
New Jersey Laws Attorneys Need To Know In 2024
New Jersey Gov. Phil Murphy has signed contentious new bills into law recently that attorneys and business owners are adjusting to, including updates to the state's Open Public Records Act that make "fee shifting" more difficult, and a new wage requirement for temporary workers.
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August 26, 2024
LA To Pay $38.2M In FCA Suit Alleging Inaccessible Housing
The city of Los Angeles will pay $38.2 million to settle allegations it knowingly failed, for over a decade, to ensure federally funded affordable multifamily housing properties were accessible to people with disabilities, the U.S. Department of Justice announced Monday.
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August 26, 2024
Businessmen Say Feds' Ky. Tower Seizure Suit Can't Proceed
Two Miami businessmen have objected to a federal magistrate judge's recommendation opposing their attempt to toss litigation by the U.S. government as it looks to seize about $9.1 million from the sale of a Kentucky office tower, saying the United States can't prove its case.
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August 26, 2024
Army Corps Looks To Trim Claims In Alaskan Gold Mine Row
The U.S. Army Corps of Engineers has told an Alaska federal judge that most of the claims asserted by a small village that's trying to thwart an open pit gold mine can't be supported and should be dismissed.
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August 26, 2024
Zillow Investors Gain Class Cert. In Suit Over Home-Flipping
A Washington federal judge has certified a proposed class of investors suing Zillow, alleging they were misled about the performance of the real estate marketplace's home-flipping program, and has appointed two firms as lead and local counsel.
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August 26, 2024
Tetra Tech Accuses Atty Of Mistreating Witness In FCA Row
Tetra Tech EC Inc. claimed that an attorney representing a developer accusing it of fraud had mistreated a witness during a deposition hearing, pressing a California federal court to order the release of recordings capturing the alleged misconduct.
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August 26, 2024
11th Circ. Won't Revive JPMorgan Chase Whistleblower Suit
The Eleventh Circuit on Monday refused to revive a whistleblower suit against JPMorgan Chase Bank NA for allegedly forging mortgage loan documents and submitting false reimbursement claims to Fannie Mae and Freddie Mac, finding the allegations had already been publicized prior to the lawsuit.
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August 26, 2024
Ex-Braves Tell 11th Circ. Easement Appeal Not Premature
A partnership created by former Atlanta Braves players urged the Eleventh Circuit to review its $47 million conservation easement lawsuit, saying the IRS' motion to dismiss the appeal for premature filing was a mere attempt to sow confusion in the proceedings.
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August 26, 2024
9th Circ. Won't Renew Seattle Homeowners' Insurance Row
A group of Seattle homeowners cannot force Security National Insurance Co. to help cover a nearly $617,000 default judgment in an underlying construction defect dispute against its insured, the Ninth Circuit ruled, finding exclusions barring coverage for new construction applicable.
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August 26, 2024
Tribal And Salmon Groups To Intervene In Alaska Mining Suit
An Alaska federal court judge will let 23 tribal groups and wilderness organizations intervene in a lawsuit over a mining proposal for a stretch of pristine salmon habitat in the Bristol Bay area, but has laid out conditions to keep the case quickly moving forward.
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August 26, 2024
Judge Won't Eject Trustee From Irish Developer's $942M Ch. 7
A Connecticut bankruptcy judge has denied a nearly two-and-a-half-year-old motion to remove a Chapter 7 trustee from an Irish developer's $942 million bankruptcy, saying the developer's appellate losses and a recent U.S. Supreme Court certiorari denial, ultimately favoring the trustee, left the motion finally ripe for a decision.
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August 26, 2024
Pa. Goodwill Qualifies For Charitable Exemption, Court Says
A Goodwill store in Pennsylvania qualifies for a charitable exemption from property tax, the state's Commonwealth Court ruled Monday, finding the store satisfies constitutional requirements for the exemption by providing employee training and driver's training.
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August 26, 2024
Fox Rothschild Lands Condo Team From Armstrong Teasdale
A team of 10 real estate attorneys from Armstrong Teasdale LLP have jumped to Fox Rothschild LLP, where they'll form the core of a new practice, the firm said Monday.
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August 26, 2024
At Bradley Arant, Ex-Healthcare GC Heeds 'No Surprises' Rule
A former general counsel at home health provider Aveanna Healthcare has returned to private practice as a partner in the healthcare and real estate practices at Bradley Arant Boult Cummings LLP, and is vowing not to surprise his in-house clients with surprise legal bills — now that he's on the other side of the business.
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August 26, 2024
Haber Law Continues Growth With Team From Beloff Law
Miami's Haber Law is continuing its growth spurt with the addition of a team from Beloff Law PA, including its founder, with 50 years of experience in real estate law.
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August 26, 2024
Cleary Marks 75 Years In City Of Love With New Paris Office
Cleary Gottlieb Steen & Hamilton LLP is celebrating its 75th anniversary in the City of Love by moving its Paris office to a new location in the Opera district, the firm announced Monday.
Expert Analysis
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Series
After Chevron: Don't Let Loper Lead To Bank Compliance Lull
Banking organizations are staring down a period of greater uncertainty over the next few years as the banking agencies and industry navigate the post-Chevron world, but banks must continue to have effective compliance programs in place even in the face of this unpredictability, say Lee Meyerson and Amanda Allexon at Simpson Thacher.
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E-Discovery Quarterly: Rulings On Hyperlinked Documents
Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.
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Loper Bright Limits Federal Agencies' Ability To Alter Course
The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.
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Maryland 'Rain Tax' Ruling May Offer Hope For Tax Credits
A Maryland state appellate court's recent decision in Ben Porto v. Montgomery County echoes earlier case law upholding controversial stormwater charges as a valid excise tax, but it also suggests that potential credits to reduce property owners' liability could get broader in scope, says Alyssa Domzal at Ballard Spahr.
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Series
Teaching Scuba Diving Makes Me A Better Lawyer
As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.
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Lawyers Can Take Action To Honor The Voting Rights Act
As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.
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Decoding CFPB Priorities Amid Ramp-Up In Nonbank Actions
Based on recent Consumer Financial Protection Bureau enforcement actions and press releases about its supervisory activities, the agency appears poised to continue increasing its scrutiny over nonbank entities — particularly with respect to emerging financial products and services — into next year, say attorneys at Wiley.
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Shipping Containers As Building Elements Require Diligence
With the shipping container market projected to double between 2020 and 2028, repurposing containers as storage units, office spaces and housing may become more common, but developers must make sure they comply with requirements that can vary by intended use and location, says Steven Otto at Crosbie Gliner.
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7th Circ. Ruling Expands CFPB Power In Post-Chevron Era
The Seventh Circuit’s recent ruling in Consumer Financial Protection Bureau v. Townstone Financial interprets the Equal Credit Opportunity Act broadly, paving the way for increased CFPB enforcement and hinting at how federal courts may approach statutory interpretation in the post-Chevron world, say attorneys at Saul Ewing.
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How To Grow Marketing, Biz Dev Teams In A Tight Market
Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.
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Series
Rock Climbing Makes Me A Better Lawyer
Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.
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NY Ruling Offers A Foreclosure Road Map For Lenders
A New York appellate court recently upheld a summary judgment ruling in favor of a commercial lender's foreclosure in U.S. Bank v. 1226 Evergreen Bapaz, illustrating the proofs lenders will need to prosecute a foreclosure action, especially where the plaintiff is an assignee of the originating lender, say attorneys at Sherman Atlas.
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Think Like A Lawyer: Dance The Legal Standard Two-Step
From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.
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Tips For Lenders Offering Texas Home Equity Lines Of Credit
As interest in home equity lines of credit increases, lenders seeking to utilize such products in Texas must be aware of state-specific requirements and limitations that can make it challenging to originate open-end lines of credit on homestead property, says Tye McWhorter at Polunsky Beitel.
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Kentucky Tax Talk: Appeals Court Revisits Leases' Tax Effects
With better facts and greater emphasis on the Kentucky Constitution, Walgreen Co. may succeed in its latest Kentucky Court of Appeals challenge to a tax assessor's method of valuing leaseholds on real property for purposes of determining ad valorem tax, say Mark Sommer and Elizabeth Ethington at Frost Brown Todd.