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Real Estate
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October 17, 2024
Rocket Investors Eye New Cert. Bid After Post-Goldman Denial
A pension fund has asked a Michigan federal judge for another chance at class certification in a suit alleging Rocket Cos. hid its knowledge of a drop in its mortgage business, saying the new class would be "substantially narrowed" after certification was previously denied in light of a recent U.S. Supreme Court decision.
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October 17, 2024
9th Circ. Upholds Wash. City's Anti-Car Camping Law
A Ninth Circuit panel has rebuffed a veteran's challenge to a Washington city's ordinance that he says displaced residents living in their vehicles, ruling Oct. 17 that the ordinance does not violate his purported right to intrastate travel, which the judges said may not exist to begin with.
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October 17, 2024
Lender Says Denver Property Owner Defaulted On $27M Loan
A lender told a Colorado state court that it wants a Denver retail property to be placed in receivership after the owner allegedly defaulted on a $27.1 million commercial mortgage loan this month.
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October 17, 2024
Pa. Appeals Court Stops Damaged Philly Building's Demolition
A Pennsylvania appellate court has tossed a lower court order that required the demolition of a seven-story Philadelphia apartment building that had a partial façade collapse in September 2022.
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October 17, 2024
Gordon Rees Gains Trial Atty From Nashville Boutique
Gordon Rees Scully Mansukhani LLP has added a trial attorney from Nashville boutique Taylor Pigue Marchetti & Blair PLLC with experience in complex commercial litigation, professional liability, employment and immigration law.
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October 17, 2024
Mont. Tax Board Upholds Assessment On Storage Facility
The owner of a Montana commercial property used to house storage units was unable to lower its value because the state Tax Appeal Board gave more weight to the state Department of Revenue's valuation using an income analysis.
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October 17, 2024
NJ Atty Disbarred On Charges Of Stealing Over $600K
A New Jersey attorney accused of stealing over $600,000 from several clients through fraudulent real estate transactions over the last 10 years has been disbarred in New Jersey state and federal court.
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October 17, 2024
5th Circ. Tosses Policyholder's Hurricane Coverage Suit
The Fifth Circuit affirmed the dismissal of a National Flood Insurance Program policyholder's suit seeking coverage for at least $100,000 in hurricane damage to a Mississippi beachfront property, saying it was time-barred and failed to allege any extracontractual duties.
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October 16, 2024
NYC Condo Building's Revised Ch. 11 Plan Gets Confirmation
A New York federal bankruptcy judge has confirmed the owner of a Manhattan condominium complex's revised Chapter 11 plan, signing off on the planned restructuring after initially sending it back for revisions in late September, according to a notice filed Wednesday.
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October 16, 2024
Feds, Md. Tell 4th Circ. Beltway Lane Expansion Is Fully Vetted
Federal and Maryland state transportation officials have told the Fourth Circuit that they thoroughly vetted air pollution, traffic congestion and other environmental concerns before approving an estimated $4 billion highway expansion project outside Washington, D.C., arguing that environmental groups have no grounds to sue to block the project.
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October 16, 2024
Rule Will Boost Alaskan Native Reps On Subsistence Board
The federal government on Wednesday announced a final rule that will strengthen Alaskan Indigenous representation on the Federal Subsistence Board by, for the first time, adding members nominated by the tribes that will be impacted by the board's decisions on the state's land and waters.
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October 16, 2024
11th Circ. Won't Nix OK Of Guatemalan Power Plant Award
The Eleventh Circuit refused Wednesday to vacate an arbitral award issued following a dispute over an ill-fated Guatemalan power plant construction project, rejecting arguments that the tribunal improperly turned a blind eye to alleged corruption underlying the project.
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October 16, 2024
11th Circ. Says No Claim For Taking Until Permit Is Denied
The Eleventh Circuit ruled Wednesday that Fane Lozman — houseboat owner, activist and thorn in the side of the Riviera Beach, Florida, city government — cannot yet bring his claims for a regulatory taking of his property against the city because he has not applied for a permit or zoning variance.
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October 16, 2024
Feds Deny That West Bank Sanctions Hamper Free Speech
The Biden administration rebuffed claims by a group of U.S. and Israeli citizens that a sanctions program covering extremist actors in the Israeli-occupied West Bank restricts their free speech rights, saying that merely opposing U.S. foreign policy goals isn't a sanctionable offense.
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October 16, 2024
Developers Push On After Mich. Township Bike Law Loss
Two developers urged a Michigan federal court to upend a Jamestown Charter Township ordinance under which some developers must fund the construction of bike paths, arguing that fees they were charged under the law were unconstitutional takings.
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October 16, 2024
NY State Judge Says He's Immune In Tribe's Eviction Suit
A New York state judge has urged a federal court to throw out a Cayuga Nation lawsuit accusing him of interfering with the tribe's sovereign authority as it looks to evict two tribal members from properties on reservation land, saying he is immune from the suit.
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October 16, 2024
NC Panel Won't Reignite Duke Energy Case Over House Fire
A split panel of the North Carolina Court of Appeals declined to revive a liability suit brought against Duke Energy Corp. and a contractor it hired to install new meters at its customers' homes after one of those contractors allegedly caused a bed to catch fire leading to $130,000 in damage.
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October 16, 2024
Calif. Community Flood Insurance Project Secures New Funds
California's water regulation authority will support a novel flood insurance program aimed at providing a tiny Central Valley town with coverage in the event of a major flood event, the state's insurance commissioner said Wednesday.
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October 16, 2024
Ex-NJ Atty Cops To $1.8M Theft From Dozens Of Clients
A disbarred Garden State real estate lawyer who plundered more than $1.8 million from 60 clients has entered a guilty plea in New Jersey state court to a charge of second-degree financial facilitation of criminal activity, according to a statement Wednesday from the Monmouth County prosecutor's office.
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October 16, 2024
Lender To Pay $10M To Settle Birmingham Redlining Claims
The Consumer Financial Protection Bureau and the U.S. Department of Justice said a mortgage lender the agencies accused of redlining in Birmingham, Alabama, will pay nearly $10 million and open a loan office in a majority-Black neighborhood to resolve the claims.
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October 16, 2024
Key Bank Blocking Hunt For Apt. Co-Op's $1.3M, Towns Say
Key Bank NA should be held in contempt of court because four insurance checks totaling $1.3 million seem to have vanished from a troubled housing co-op's accounts, and the bank is preventing a receiver in charge of the 924-unit Success Village Apartments from figuring out what happened, two Connecticut municipalities have said.
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October 16, 2024
Polsinelli Expands Real Estate Team With Ex-Seyfarth Partner
Polsinelli PC is continuing to add real estate talent to its ranks, announcing Tuesday that it has hired a partner from Seyfarth Shaw LLP to work out of its New York and Miami offices.
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October 16, 2024
4th Circ. Affirms Judgment In Foreclosure Bid-Rigging Case
The Fourth Circuit backed a North Carolina federal court and tossed part of an appeal by a real estate company founder and others of a jury verdict that they rigged bids in foreclosure auctions in violation of state and federal antitrust laws.
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October 15, 2024
CFPB Funding Shouldn't Stop Texas' Fraud Suit, Judge Says
A Houston federal magistrate judge has endorsed allowing the state of Texas to proceed with a real estate fraud suit against land developer Colony Ridge, rejecting objections tied in part to the Consumer Financial Protection Bureau's funding from Federal Reserve "earnings."
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October 15, 2024
Exec's $77M WeWork Offer Was Stupid, Not Fraud, Jury Told
Counsel for the former CEO of real estate investment firm Arciterra told a Manhattan federal jury Tuesday his client was a fool for making what prosecutors described as a fake $77 million tender offer for a controlling stake in WeWork before its bankruptcy, but he wasn't trying to falsely pump up the coworking company's stock price.
Expert Analysis
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Ga. Law Creates Challenges For Foreign Ownership Of Land
Under Georgia's new law limiting certain foreign possessory interests in agricultural land and land near military properties, affected foreign persons and entities will need to do significantly more work in order to ensure that their ownership remains legal, say Nellie Sullivan and Lindsey Grubbs at Holland & Knight.
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Questions Remain After Mass. Adverse Possession Case
A recent Massachusetts Land Court decision, concerning an adverse possession claim on a family company-owned property, leaves open questions about potential applicability to closely held corporations and other ownership types going forward, says Brad Hickey at DarrowEverett.
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4 Takeaways From Biden's Crypto Mining Divestment Order
A May 13 executive order prohibiting the acquisition of real estate by a foreign investor on national security grounds — an enforcement first — shows the importance of understanding how the Committee on Foreign Investment in the United States might profile cross-border transactions, even those that are non-notified, say attorneys at Kirkland.
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Insurer Quota-Sharing Lessons From $112M Bad Faith Verdict
In Indiana GRQ v. American Guarantee and Liability Insurance, an Indiana federal jury recently issued a landmark $112 million bad faith verdict, illustrating why insurers must understand the interplay between bad faith law and quota-sharing before entering into these relatively new arrangements, say Jason Reichlyn and Christopher Sakauye at Dykema.
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Exploring An Alternative Model Of Litigation Finance
A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.
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11th Circ. Ruling May Foreshadow Ch. 15 Clashes
The Eleventh Circuit's recent decision in In re: Talal Qais Abdulmunem Al Zawawi has introduced a split from the Second Circuit regarding whether debtors in foreign proceedings must have a domicile, calling attention to the understudied nature of Chapter 15 of the Bankruptcy Code, say attorneys at Cleary.
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Series
Teaching Yoga Makes Me A Better Lawyer
Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.
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A Vision For Economic Clerkships In The Legal System
As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.
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What A Louisiana Ruling Means For Pipeline Crossings
After a Louisiana appeals court's recent ruling on a conflict between two pipeline projects, operators and developers should review pipeline crossings to ensure that they occur at safe distances — and keep in mind the value of crossing agreements for protecting both sides in case of a dispute, say attorneys at McGuireWoods.
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A Look At New IRS Rules For Domestically Controlled REITs
The Internal Revenue Services' finalized Treasury Regulations addressing whether real estate investment trusts qualify as domestically controlled adopt the basic structure of previous proposals, but certain new and modified rules may mitigate the regulations' impact, say attorneys at Simpson Thacher.
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What Lies Behind Diverging US And UK Insolvency Trends
Contrasting U.K. and U.S. insolvency trends highlight the importance of policy interventions in shaping consumer financial outcomes and economic recovery, and while the U.K.'s approach seems to have mitigated issues, the U.S. faces challenges exacerbated by economic conditions and policy transitions, says Thomas Curran at Thomas H. Curran Associates.
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E-Discovery Quarterly: Recent Rulings On Text Message Data
Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.
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How New Rule Would Change CFIUS Enforcement Powers
Before the May 15 comment deadline, companies may want to weigh in on proposed regulatory changes to enforcement and mitigation tools at the disposal of the Committee on Foreign Investment in the United States, including broadened subpoena powers, difficult new mitigation timelines and higher maximum penalties, say attorneys at Venable.
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Series
Swimming Makes Me A Better Lawyer
Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.
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2nd Circ. Eminent Domain Ruling Empowers Municipalities
The Second Circuit's recent decision in Brinkmann v. Town of Southold, finding that a pretextual taking does not violate the Fifth Amendment's takings clause, gives municipalities a powerful tool with which to block unwanted development projects, even in bad faith, say James O'Connor and Benjamin Sugarman at Phillips Lytle.