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Real Estate
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March 11, 2025
NJ Power Broker Fights Civil Suit After Criminal Case Victory
South Jersey power broker George Norcross and his brother moved this week to dismiss a civil racketeering suit against them arguing that the plaintiff's claims "parroted" a criminal indictment against them that was recently dismissed.
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March 11, 2025
La. Eatery Must Litigate Hurricane Coverage Under NY Law
A New Orleans restaurant must litigate its hurricane damage claims against its insurer under New York law, a New York federal judge ruled Tuesday, rejecting the restaurant's position that Louisiana law must apply instead despite the policy's New York choice-of-law and forum selection provision.
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March 11, 2025
Manchester United Plans New 100,000-Seat Stadium
English Premier League football club Manchester United on Tuesday unveiled plans to build a new 100,000-seat stadium as the focal point of the regeneration of the Old Trafford area in Manchester, a move that comes after billionaire and co-owner Jim Ratcliffe plugged $300 million into the club with plans for the investment to pave the way for infrastructure updates at the old stadium.
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March 11, 2025
Mass. High Court Says Paying Full Judgment Freezes Interest
Paying off a judgment in full, even when an appeal is planned, stops additional interest from accruing against the amount, Massachusetts' highest court said Tuesday in a long-running dispute between an auto dealership and its landlord.
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March 11, 2025
Utah Lawmakers OK Min. Tax Rate Consensus Certification
Utah would require a minimum property tax rate imposed by school districts to be certified by the state's tax commission, the governor's Office of Planning and Budget and the state Legislature's Office of the Legislative Fiscal Analyst under a bill approved by state lawmakers and headed to the governor.
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March 10, 2025
Real Estate Cos. Commingled $50M Investor Funds, SEC Says
A Washington, D.C., area man and dozens of companies under his control have agreed to pay a total of $3.3 million to settle U.S. Securities and Exchange Commission allegations they deceived their investors with improper accounting practices that involved commingling $50 million in earmarked money.
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March 10, 2025
JPMorgan Sued Over $481M CMBS Loan With 'Inflated' Metric
Wells Fargo sued JPMorgan in New York federal court on Monday to make it pay up for a soured $481 million commercial real estate loan that it originated and securitized, allegedly based on "dramatically inflated" supporting financial data.
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March 10, 2025
Ex-NFL Player Gets 2½ Years For $5.3M Ponzi Scheme
A former NFL linebacker was sentenced to two and a half years in prison Monday after pleading guilty to running a Ponzi scheme in which he bilked $5.3 million from investors who believed they were buying into luxury real estate and gold mines in Alaska and Ghana.
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March 10, 2025
Judge Tosses Challenge To Chicago Tenant Law
An Illinois federal judge dismissed a Chicago apartment building owner's suit over a local ordinance that requires the owners of foreclosed rental properties to pay qualifying tenants with a one-time relocation fee or offer them a new lease.
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March 10, 2025
Ariz. Power Co. Asks Justices To Review Tax On Tribal Plant
An energy company asked the U.S. Supreme Court to review Arizona court decisions that said a power plant it owns on tribal land is subject to property taxes, arguing that privately owned improvements located on Native American reservations are exempt from state and local taxes.
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March 10, 2025
2 Firms Sued After Cyber Thief Steals $442K From Estate
Law firms SutterWilliams LLC and Allender & Allender PA were hit with a negligence and malpractice suit after a cybercriminal allegedly used spoofed email accounts to trick an attorney at the latter firm into handing over $442,600 from the sale of a late Pennsylvania sheriff's deputy's house in Florida.
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March 10, 2025
NC Bill Allocates $80M To Move Helene-Damaged Courthouse
A state legislative proposal that would allocate $80 million in the form of a one-time grant for the relocation of a historic North Carolina county courthouse rendered unusable by Hurricane Helene cleared its first hurdle Monday.
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March 10, 2025
Paul Weiss, Fenwick Build Rocket's $1.75B Redfin Buy
Detroit-based real estate-focused fintech platform Rocket Cos., advised by Paul Weiss Rifkind Wharton & Garrison LLP, on Monday announced that it has agreed to buy Fenwick & West LLP-led digital real estate brokerage Redfin in a $1.75 billion all-stock deal.
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March 10, 2025
Colo. Court Affirms Property Tax Valuation For Partial Build
A partly built commercial building in Colorado was properly valued by a county board of equalization, as the state doesn't have an exemption for partial builds, a state appeals court ruled.
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March 10, 2025
High Court Skips Florida Brokerage's Copyright Fee Appeal
The U.S. Supreme Court on Monday declined to review a Florida real estate brokerage firm's challenge to lower court decisions denying it attorney fees when another company accusing it of copyright infringement voluntarily dropped the case.
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March 07, 2025
Real Estate Recap: NAR Suits, Tariff Tactics, Betting On Texas
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a look at widespread antitrust litigation surrounding the National Association of Realtors broker rules, the role contracts may play in combating a trade war, and the implications for real estate if casinos come to the Lone Star State.
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March 07, 2025
Feds Say California Tribes' Casino Challenge Comes Too Late
The U.S. Department of the Interior and other agencies have asked a D.C. federal judge to deny two tribes' challenge to another tribe's plan to build a casino-hotel complex on 221 acres of trust land, saying their request for a stay is improper and untimely.
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March 07, 2025
Condo Says Insurer Is Delaying $2M Hidden Damage Claim
A condo owners association told a Washington federal court that its insurer is deliberately delaying investigation and payment of its claim for over $2 million in hidden rain damage to its Seattle property, saying the carrier is trying to run out the limitations period in its policies.
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March 07, 2025
SD Lawmakers Request Study Of Tax Relief For Homeowners
South Dakota instructed its Legislative Research Council to review the state's property tax policies and identify ways to provide property tax relief to homeowners under a concurrent resolution approved by state lawmakers.
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March 07, 2025
Utah Court Affirms Walmart's Collective $52M Property Value
A trio of Utah-based Walmart retail properties were correctly assessed at a collective $52 million for property tax, a Utah appeals court said, finding that a lower court didn't make any errors when valuing the three properties.
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March 07, 2025
Cosmetics Co. Sues Insurer Over Calif. Water Pollution Claims
A cosmetics company facing water pollution claims told a California federal court its insurer denied coverage in bad faith, saying though the insurer agreed to defend a lawsuit from the California attorney general, the insurer still wrongly refused to reimburse costs from two prior, related suits that were ultimately rescinded.
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March 07, 2025
Tariffs, Diversity And DOGE Dominate Trump 2.0 'Risk Factors'
Public companies are busily reworking risk disclosures since the arrival of President Donald Trump's second administration, seeking to walk a fine line of being upfront with investors about potential threats to business despite vast legal and policy uncertainties.
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March 07, 2025
False Policy Info Tanks Property Owner's Coverage Suit
A New York federal judge ruled that an insurer doesn't have to cover a property owner and manager embroiled in a dispute with Vrbo tenants who fell through the balcony of a South Carolina condo, because the owner lied to the carrier and said it didn't offer short-term rentals.
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March 07, 2025
DOJ Cites SDNY Prosecutors' Texts In Bid To End Adams Case
President Donald Trump's Justice Department doubled down Friday on its bid to toss the corruption case against New York City Mayor Eric Adams, citing newly released internal correspondence showing "troubling conduct" by Southern District of New York prosecutors the agency criticized as "careerist" and insubordinate.
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March 07, 2025
Mass. Housing Law Called Unfunded Mandate In Latest Suit
A controversial Massachusetts housing law requiring multifamily zoning near Boston-area transit facilities is facing a new legal challenge after the town of Wrentham argued in a Thursday state court suit that it's an unfunded mandate on localities.
Expert Analysis
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Why Now Is The Time For Law Firms To Hire Lateral Partners
Partner and associate mobility data from the second quarter of this year suggest that there's never been a better time in recent years for law firms to hire lateral candidates, particularly experienced partners — though this necessitates an understanding of potential red flags, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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Reassessing Lease Provisions To Account For ESG Initiatives
As companies seek to build ESG considerations into their businesses, it's crucial to understand how such initiatives can quickly become significant enough to compel reassessment of lease agreement provisions, and how best to modify leases accordingly, say Julian Freeman and Gabe Pitassi at Cox Castle.
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Considering Possible PR Risks Of Certain Legal Tactics
Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.
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It's No Longer Enough For Firms To Be Trusted Advisers
Amid fierce competition for business, the transactional “trusted adviser” paradigm from which most firms operate is no longer sufficient — they should instead aim to become trusted partners with their most valuable clients, says Stuart Maister at Strategic Narrative.
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Avoid Getting Burned By Agencies' Solar Financing Spotlight
Recently coordinated reports and advisories from the U.S. Department of the Treasury, the Consumer Financial Protection Bureau and the Federal Trade Commission maximize the spotlight on the consumer solar financing market and highlight pitfalls for lenders to avoid in this burgeoning field, says Mercedes Tunstall at Cadwalader.
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Co-Tenancy Clause Pointers For Shopping Center Landlords
Large retail tenants often require co-tenancy provisions in their leases, entitling them to remedies if a shopping center's occupancy drops in certain ways, but landlords must draft these provisions carefully to avoid giving tenants too much control, says Gary Glick at Cox Castle.
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Assessing Algorithmic Versus Generative AI Pricing Tools
A comparison of traditional algorithmic pricing models and those powered by generative artificial intelligence can help regulators and practitioners weigh the pros and cons of relying on large language models to price products or services, say Maxime Cohen at McGill University, and Tim Spittle and Jimmy Royer at Analysis Group.
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Navigating A Potpourri Of Possible Transparency Act Pitfalls
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.
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Series
After Chevron: Conservation Rule Already Faces Challenges
The Bureau of Land Management's interpretation of land "use" in its Conservation and Landscape Health Rule is contrary to the agency's past practice and other Federal Land Policy and Management Act provisions, leaving the rule exposed in four legal challenges that may carry greater force in the wake of Loper Bright, say Stacey Bosshardt and Stephanie Regenold at Perkins Coie.
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DOJ Must Overcome Hurdles In RealPage Antitrust Case
The U.S. Department of Justice's recent claims that RealPage's pricing software violates the Sherman Act mark a creative, and apparently contradictory, shift in the agency's approach to algorithmic price-fixing that will face several key challenges, say attorneys at Clifford Chance.
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Keys To Successful Commercial Property Insurance Claims
Excerpt from Practical Guidance
While insurance needs for commercial leasing arrangements are driven by the characteristics of the premises and the nature of the tenants' intended operations, there are several universal best practices landlords and their counsel can follow when making claims after loss or damage.
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How Companies Are Approaching Insider Trading Policies
An analysis of insider trading policies recently disclosed by 49 S&P 500 companies under a new U.S. Securities and Exchange Commission rule reveals that while specific provisions vary from company to company, certain common themes are emerging, say attorneys at Gibson Dunn.
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Tips For Handling Single Asset Real Estate Bankruptcy Cases
Excerpt from Practical Guidance
Bankruptcy counsel should consider several strategies when representing either a debtor or lender in single asset real estate debtor Chapter 11 cases, which generally arise when a debtor is forced to file for relief to stop an impending foreclosure sale.
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What To Know About CFPB Stance On Confidentiality Terms
A recent circular from the Consumer Financial Protection Bureau represents a growing effort across government agencies to address overbroad confidentiality agreements, and gives employers insight into the bureau's perspective on the issue as it relates to the Consumer Financial Protection Act, say Holly Williamson and Elizabeth King at Hunton.
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How Methods Are Evolving In Textualist Interpretations
Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.