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Real Estate
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July 05, 2024
The Firms That Won Big At The Supreme Court
This U.S. Supreme Court term featured high-stakes oral arguments on issues including gerrymandering, abortion and federal agency authority, and a hot bench ever more willing to engage in a lengthy back-and-forth with advocates. Here's a look at the law firms that argued the most cases and how they fared.
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July 05, 2024
Willkie Advising Saks Fifth Avenue On $2.65B Neiman Deal
Willkie Farr & Gallagher LLP is advising Saks Fifth Avenue's parent company on its freshly inked deal to buy the Neiman Marcus Group, advised by Sullivan & Cromwell LLP, at an enterprise value of $2.65 billion.
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July 05, 2024
FTC Wants Second Look At $1.6B CoStar, Matterport Deal
The Federal Trade Commission has requested more information from CoStar Group and Matterport on a planned $1.6 billion merger that would round out CoStar's real estate analytics offerings with the latter company's virtual property tour platform.
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July 05, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen collapsed sports television company Arena Television hit Bank of Scotland and Lloyds Bank with a claim, James Vorley, the Deutsche Bank metals trader convicted of fraud, sue his former employer, and journalist John Ware file a defamation claim against Pink Floyd band member Roger Waters and Al Jazeera Media Network. Here, Law360 looks at these and other new claims in the U.K.
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July 05, 2024
Mich. Tax Panel Drops Vacant Store's Value By $500K Per Year
The highest and best use of a vacant commercial property at the time of its assessment was to demolish the improvements and hold it for future development, a Michigan panel ruled, lowering the property's valuation by nearly $500,000 for each of two years.
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July 03, 2024
Alaskan Tribe Says It Can't Get Access To Burial Site
The governing body of an Alaska Native Tribe is suing several state entities and the Federal Aviation Administration, claiming they are preventing the tribe from performing excavations of archaeological artifacts and ancestral remains found during construction of an airport runway.
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July 03, 2024
Petersen Health Lands $136M In Winning Asset Bids
Petersen Health Care told a Delaware bankruptcy court Wednesday it selected four successful bids, totaling roughly $135.8 million, for the company's skilled nursing facilities, including an offer worth $116.2 million from a stalking-horse bidder.
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July 03, 2024
Realtor.com Parent Accuses CoStar Of Stealing Trade Secrets
The parent company of Realtor.com sued CoStar Group Inc. and one of its employees in California federal court Tuesday, alleging the worker stole confidential trade secrets from his time working at Realtor.com in order to boost the performance of CoStar's rival real estate website, Homes.com.
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July 03, 2024
Wash. Mall, Retail Center Seek $1.3M In Property Tax Refunds
A Seattle mall and shopping center are seeking property tax refunds topping $1.3 million, according to complaints in state court that claim the county assessor failed to use appropriate data and overvalued the properties.
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July 03, 2024
No 'Unfettered Discretion' For Zoning Boards: Mich. Justices
The Michigan Supreme Court has held that conditionally rezoning a property is only valid if the property's proposed use is already allowed under a town's ordinances, instructing a trial court to determine whether a racing dragway is a permitted use under a township's commercial zone.
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July 03, 2024
Deals Rumor Mill: Paramount-Skydance, EuroLeague, Hyundai
Skydance closes in on an agreement to buy Paramount, PE firms eye EuroLeague basketball at a potential $1 billion valuation and Hyundai could raise $3.5 billion in its India unit's IPO. Here, Law360 breaks down the notable deal rumors from the past week.
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July 03, 2024
Hospitality REIT, Activist Investor To Drop Board Feud
Braemar Hotels & Resorts and hedge fund Blackwells Capital said they plan to resolve their litigation in a deal that calls for the activist investor to withdraw from a proxy fight and buy a bigger stake in the real estate investment trust.
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July 03, 2024
Deal Reached In Del. Suit Targeting Gores-Backed UWM SPAC
Architects of a $16 billion special purpose acquisition company merger that took United Wholesale Mortgage public have reportedly agreed to settle a Delaware Chancery Court stockholder suit accusing private equity billionaire Alec Gores and others of misleading investors.
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July 03, 2024
Developer Owes $10M For Boston Project Delays, Suit Says
Massachusetts contractor Suffolk Construction Co. Inc. claims the developer of a significant mixed-use residential and commercial block in Boston's South End still owes it more than $10 million, saying delays due to the pandemic and a change in the type of cabinetry in the apartments contributed to higher costs.
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July 02, 2024
Ga. City Comes Out On Top In T-Mobile Cell Tower Suit
The city of Columbus, Georgia, has come out on top in a legal battle with a wireless infrastructure builder who says that the city unfairly blocked its requests to build T-Mobile a cell tower, a conflict that also involved the local Shriners.
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July 02, 2024
Colo. City Housing Authority Says Board Can't Be Fired At Will
A Colorado city's ordinance violates state law because it gives the mayor the power to replace the commissioners of the city's housing authority without just cause, the housing authority has claimed in Colorado state court.
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July 02, 2024
Casino Game Co. Settles $5.8M Conn. Loan Lawsuit
An electronic casino and lottery game software maker and a group of its lenders have settled their dispute over a $5.8 million default judgment that the game-maker allegedly failed to pay from a suit the lenders brought in 2021.
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July 02, 2024
Gov. Says Ky. Tower's Sale Didn't Cancel Ties To Laundering
Prosecutors and a pair of Miami businessmen have traded briefs over preserving the government's case in Florida federal court to seize $9.1 million from the sale of a Louisville, Kentucky, tower over alleged ties to a Ukrainian money laundering operation.
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July 02, 2024
Enbridge, Tribes Spar Over Payout In Pipeline Trespass Row
Enbridge Energy told the Seventh Circuit a recent ruling that resulted in a tribe receiving a nearly $400 million payout for trespassing does not apply to the Bad River Band of Lake Superior Tribe's current trespass challenge, arguing the district court recognized that this case presents a different set of facts.
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July 02, 2024
Ind. High Court Say Firefighter's Fall Suit Can Go Forward
The Indiana Supreme Court on Tuesday gave the green light to a firefighter's injury suit over him falling through a gap in a wall while responding to a fire, saying the state's "First Responder Rule" doesn't preempt his claim because the alleged negligence that caused the fire is not the cause of his injury.
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July 02, 2024
The Commercial Real Estate Q&A's You Can't Miss
Check out Law360 Real Estate Authority's most buzzed-about commercial real estate Q&As from the first half of 2024.
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July 02, 2024
Data Analysis Shows Swift Influx In EPA Brownfield Grants
A Law360 Real Estate Authority analysis of the U.S. Environmental Protection Agency's brownfield grant awards since the program's inception shows a steep increase in funding, particularly in funding of cleanups, since the Bipartisan Infrastructure Law was passed in 2021.
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July 02, 2024
Alaska Village Hits Army Corps With Gold Mine Permit Suit
The Native Village of Dot Lake is asking an Alaska federal judge to throw out a permit the U.S. Army Corps of Engineers issued for an open pit gold mine Kinross Gold Corp. and Peak Gold LLC are developing near the Yukon border.
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July 02, 2024
Mass. Panel Won't Cut Tax Value Over Denied Building Permits
The owner of commercial property in Massachusetts failed to show that local denials of building permits impacted the tax value of the property, a state panel said in a decision released Tuesday, rejecting the owner's appeal of a local assessment.
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July 02, 2024
The Residential Real Estate Q&A's You Can't Miss
Check out Law360 Real Estate Authority's hottest residential real estate Q&A's from the first half of 2024.
Expert Analysis
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Key Issues When Navigating A Tenant's Bankruptcy
In light of recent Chapter 11 filings by Rite Aid and WeWork — companies with thousands of commercial leases — practitioners should review issues that can arise when bankruptcy is used to exit a lease, including the consequences of lease rejection and the statutory cap on landlord damage claims for a rejected lease, say attorneys at Proskauer.
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Ill. Justices Set New Standard For Analyzing Defect Claims
The Illinois Supreme Court's recent ruling in Acuity v. M/I Homes of Chicago has effectively changed the landscape for how insurers may respond to construction defect claims in the state, so insurers should carefully focus their coverage analysis on whether the business risk exclusions are applicable, say Bevin Carroll and Julie Klein at Kennedys.
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5 Securities Litigation Issues To Watch In 2024
There is yet another exciting year ahead for securities litigation, starting with the U.S. Supreme Court hearing argument next week in a case presenting a key securities class action question that has eluded review for the last eight years, say attorneys at Willkie.
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A Look At Consumer Reporting In 2023, And What's To Come
The legal landscape of consumer reporting is evolving as courts, federal regulators and state legislatures continue to weigh in — and while last year may have seen a slight downtick in the overall volume of Fair Credit Reporting Act litigation, 2024 is set to be a watershed year for this area of the law, say attorneys at Troutman Pepper.
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Growing Green Tech Demand Spells Trouble For Groundwater
Increasing demand for green technology is depleting the groundwater reserves used to extract and process the necessary minerals, making a fundamental shift toward more sustainable water use practices necessary at both the state and federal levels, says Sarah Mangelsdorf at Goldberg Segalla.
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Series
ESG Around The World: South Africa
While South Africa has yet to mandate the reporting of nonfinancial and environmental, social, and corporate governance issues, policy documents and recent legislative developments are likely to have a material impact in the country's transition to a low-carbon economy and in meeting its international obligations, say Glynn Kent at Eversheds Sutherland.
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3 Power Rulings Change Outlook For Transmission Cos.
The cumulative effect of three December power cases that halted state actions that gave preference to incumbent transmission providers could level the playing field for independent developers, say Harvey Reiter and John McCaffrey at Stinson.
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How New Fla. Condo Law Will Affect Owners' Finances
As this December is the deadline for condominiums in Florida to be in compliance with legislation passed after the Champlain Towers collapse, condo owners will need to prepare for both the immediate and long-term financial implications, says Greg Main-Baillie at Colliers.
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4 Legal Ethics Considerations For The New Year
As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.
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Environmental Justice: A 2023 Recap And 2024 Forecast
A 2023 executive order directing each federal agency to make environmental justice part of its mission, as well as the many lawsuits and enforcement actions last year, demonstrates that EJ will increasingly surface in all areas of law and regulation, from technically challenging to seemingly ordinary permitting and construction matters, say attorneys at King & Spalding.
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What The Law Firm Of The Future Will Look Like
As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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The Year Ahead In Foreign Investment And National Security
In 2024, expect the Committee on Foreign Investment in the United States, already at the forefront of addressing national security threats, to increase monitoring and enforcement related to outbound investment, focus on supply chain resilience in nondefense sectors, and heighten oversight of agricultural transactions, say attorneys at Holland & Knight.
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4 PR Pointers When Your Case Is In The News
Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.
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Sale-Leasebacks May Provide A Safe Financing Alternative
Amid rising interest rates and unpredictable market conditions, sale-leasebacks can be a useful investment option for both buyers and sellers, though their potential drawbacks demand careful consideration, says Chanel Di Blasi at Crosbie Gliner.
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5 Recent Developments Family Offices Are Watching In 2024
Although family offices have long been exempt from many of the more onerous regulations and reporting requirements governing U.S. investment advisers and asset managers, recent amendments to federal rules will have an impact on how family offices invest and operate in 2024, say attorneys at Morgan Lewis.