Residential

  • February 21, 2024

    NY Judges Question Lehman's Bid To Undo CDS Trial Loss

    A panel of New York appeals court judges on Wednesday appeared reluctant to undo a bench trial loss Lehman Bros.' bankrupt European unit suffered last year in a suit attempting to clawback nearly half a billion dollars from Assured Guaranty over alleged losses on credit default swaps tied to the 2008 financial crisis.

  • February 21, 2024

    Judge Rejects $5.2M Atty Fee Bid In Poultry Farm Loan Suit

    A New York federal judge rebuffed attorneys' attempt to collect a nearly $5.2 million fee for representing an affiliate of two billionaire brothers that accused an investment adviser of fraudulently inducing the affiliate to provide a loan for a Russian poultry operation, saying the adviser wasn't improperly defending himself.

  • February 21, 2024

    Listing Services Say Zillow Is Weaponizing Antitrust Law

    A pair of regional multiple listing services have told an Arizona federal court that Zillow is trying to use antitrust law to kill competition for its ShowingTime service, which helps real estate agents and others manage property showings.

  • February 21, 2024

    NYC Lawmakers Ask To Join Housing Voucher Suit

    New York City Council asked a state court on Wednesday to let it intervene on the side of a proposed class of New Yorkers suing the city to make it implement laws that aim to expand a housing voucher program.

  • February 21, 2024

    Justices Turn Away Meta Bid To End Ad Discrimination Suit

    A proposed class action accusing Facebook owner Meta of permitting discrimination in choices regarding which users could see housing ads appears headed for discovery after the U.S. Supreme Court denied the company's petition to appeal a split Ninth Circuit ruling.

  • February 21, 2024

    Mass. Landlords, Brokers Sued For Alleged Voucher Refusals

    A national housing advocacy group on Wednesday sued 20 Boston-area landlords and real estate brokers in state court, alleging they illegally refused to rent apartments to potential tenants with housing vouchers.

  • February 21, 2024

    Peer Street Needs To Revise Ch. 11 Disclosures, Judge Says

    A Delaware bankruptcy judge sent crowd-funded real estate investment platform Peer Street Inc.'s disclosure statement back to the drawing board on Wednesday, telling the company that it needed to add more details and understandable language amid outcry from some small investors who wanted to convert the Chapter 11 bankruptcy to a liquidation.

  • February 21, 2024

    Lenders Seek To Toss NYC Condo Building's 'Bad Faith' Ch. 11

    Lenders to bankrupt New York City condominium complex Hudson 888 Owner moved on Wednesday to dismiss the Chapter 11 case, saying it was filed "in bad faith" as an attempt to duck litigation.

  • February 21, 2024

    Mass., Property Developer Strike Deal Over Wetlands Pollution

    The state of Massachusetts and a nationwide residential property developer have settled claims the company caused sediment runoff in wetlands in a town about 16 miles south of Boston, in violation of the Clean Water Act.

  • February 21, 2024

    11th Circ. Says Sotheby's Insured For Fla. Agent Theft Row

    An Eleventh Circuit panel affirmed Wednesday that an insurer must defend One Sotheby's International Realty against allegations that its agent bamboozled married Russian investors into selling their Miami Beach-area condo at below market value, eventually stealing $3.7 million in sale proceeds.

  • February 21, 2024

    No Property Coverage For Maui Wildfire, Insurer Says

    A condominium association and its property manager have no coverage for property damage claims stemming from the 2023 Maui wildfires, their insurer told a Hawaii federal court, arguing that a property damage exclusion in their errors and omissions policy wholly bars coverage.

  • February 21, 2024

    Broker Defends Claims Against Suns Owner, Mortgage Co.

    A mortgage broker pushed back against a report recommending that a Florida federal court toss its antitrust case against the owner of the NBA's Phoenix Suns and his company United Wholesale Mortgage, saying the analysis of its conspiracy claims included several errors.

  • February 20, 2024

    NM Fire Victims Sue FEMA Over Compensation Delays

    Ten New Mexico residents with property damaged by the Hermit's Peak/Calf Canyon Fire sued the Federal Emergency Management Agency in federal court Friday, saying FEMA is not processing their claims in a timely manner, in violation of an assistance measure Congress passed for victims of the wildfire.

  • February 20, 2024

    FinCEN Details Owner Data Access Rules For Small Banks

    The U.S. Treasury Department's Financial Crimes Enforcement Network on Tuesday released a compliance guide for small financial firms on accessing and safeguarding company ownership information that their customers are required to report under recently implemented rules.

  • February 20, 2024

    Restoration Architect Says Visa Denial Ignored Evidence

    A Colombian restoration architect who wants to address the affordable housing shortage in the U.S., accused immigration officials in Florida federal court of disregarding more than 1,000 pages of evidence in denying him a national interest waiver for a visa.

  • February 20, 2024

    Ex-BigLaw Atty Avoids Prison For Ch. 11 Lies

    A former BigLaw partner on Tuesday was spared any prison time for lying to a New York bankruptcy court in his 2022 personal Chapter 11 case, in an attempt to shield his assets from creditors.

  • February 20, 2024

    NC Panel Finds Condos Short-Term Rental Ban Unreasonable

    The North Carolina Court of Appeals ruled Tuesday that a condominium owners association can't ban short-term rentals through an amendment to the neighborhood's covenants, reasoning the restriction was too radical a departure from the original rules.

  • February 20, 2024

    Justices Give Feds Time In Texas, Fla. Social Media Law Fights

    The U.S. Supreme Court has set aside time for the federal government to weigh in on looming oral arguments in cases to determine the constitutionality of controversial Texas and Florida laws that restrict social media companies' ability to curb users' speech.

  • February 20, 2024

    Law Firm Wins Unredacted Deal Info In NJ Malpractice Fight

    A law firm has prevailed in a discovery battle against a sibling duo suing it for malpractice in New Jersey state court with a ruling that the plaintiffs must provide unredacted info about the settlement they reached in the underlying suit that the firm allegedly mishandled for them.

  • February 20, 2024

    Frost Brown Adds Real Estate Litigators From Spencer Fane

    Frost Brown Todd LLP announced Tuesday that it has strengthened its real estate practice group with a pair of energy-savvy litigators in Dallas who came aboard from Spencer Fane LLP.

  • February 20, 2024

    High Court Passes On Rent Stabilization Probe, For Now

    The U.S. Supreme Court declined to investigate two challenges to specific aspects of New York's rent stabilization law Tuesday after refusing to hear a facial challenge to the same law in September, but left the door ajar for future litigation.

  • February 20, 2024

    Justices Won't Review Partnership's $26M Easement Row

    The U.S. Supreme Court declined Tuesday to hear a partnership's bid to keep a $26.5 million deduction for a land conservation easement, letting stand a decision that the case was barred by a law that prohibits suits that restrain the collection of taxes.

  • February 20, 2024

    Winstead Taps 6 For Shareholder Positions In Texas, NC

    Winstead PC has announced that six attorneys have been named as shareholders in its Austin, Dallas and Charlotte, North Carolina, offices.

  • February 16, 2024

    NYCB Brass Face Investor Suit Over Signature Bank Takeover

    Executives and directors of New York Community Bank were named in a new shareholder derivative suit, adding to the growing list of litigation the bank and its leaders are facing over the fallout from its acquisition of Signature Bank's assets last year.

  • February 16, 2024

    PNC Bank Defeats Customer's Suit Over Fraudulent Transfer

    A Pennsylvania federal judge on Friday tossed the two remaining claims in a suit alleging PNC Bank NA misled a California-based customer about stopping a money transfer to a scammer, saying the bank did not breach the account-holder agreement when it tried to recover the customer's funds.

Expert Analysis

  • Assessing The Future Of Colorado's Economic Loss Rule

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    The Colorado Supreme Court's decision to review a state appellate court's ruling in Mid-Century Insurance Co. v. HIVE Construction will significantly influence the future of Colorado's economic loss rule, with high stakes for the cost of doing business in the state, says David Holman at Crisham & Holman.

  • How Recent Laws Affect Foreign Purchase Of US Real Estate

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    Early diligence is imperative for U.S. real estate transactions involving foreign actors, including analysis of federal and state foreign investment laws implicated by the transaction, depending on the property's nature and location, the parties' citizenship, and the transaction's structure, say Massimo D’Angelo and Anthony Rapa at Blank Rome.

  • What Shareholder Approval Rule Changes Mean For Cos.

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    The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.

  • High Court Case Could Reshape Local Development Fees

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    If last month's oral arguments are any indication of how the U.S. Supreme Court will rule in Sheetz v. County of El Dorado, it's unlikely the justices will hold that the essential nexus and rough proportionality tests under the cases of Nollan, Dolan and Koontz apply to legislative exactions, but a sweeping decision would still be the natural progression in the line of cases giving property owners takings claims, says Phillip Babich at Reed Smith.

  • White Collar Plea Deals Are Rarely 'Knowing' And 'Voluntary'

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    Because prosecutors are not required to disclose exculpatory evidence during plea negotiations, white collar defendants often enter into plea deals that don’t meet the U.S. Supreme Court’s “knowing” and “voluntary” standard for trials — but individual courts and solutions judges could rectify the issue, says Sara Kropf at Kropf Moseley.

  • How 2 CFPB Advisory Opinions Affect Reporting Agencies

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    The Consumer Financial Protection Bureau issued two advisory opinions last month that demonstrate a continued commitment to address inaccuracies in background check reports and consumer file disclosures through broad interpretation of the Fair Credit Reporting Act, expanding on a coordinated federal agency effort, say attorneys at Cooley.

  • Algorithmic Pricing Programs Caught In Antitrust Crosshairs

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    The Justice Department's investigation into software company RealPage follows a host of federal antitrust cases alleging that property owners and casino hotel operators use the same proprietary software programs to fix and maintain pricing, which means algorithmic pricing programs are considered a key price-fixing tool in the digital age, say attorneys at Ballard Spahr.

  • A Welcome Turning Of The Page For Residential Real Estate

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    After one of the most challenging years on record for residential real estate, 2024 will likely be a time of transition to a stabler business climate, as sellers lose some of their excess bargaining power and the pace of sales picks up, says Marty Green at Polunsky Beitel.

  • Strict Duty To Indemnify Ruling Bucks Recent Trend

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    A South Carolina federal court's recent decision that it lacked subject matter jurisdiction to decide an insurer's duty to indemnify prior to the finding of insured liability sharply diverges from the more nuanced or multipronged standards established by multiple circuit courts, says Richard Mason at MasonADR.

  • Ill. Insurance Ruling Helps Developers, Community Orgs. Alike

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    The Illinois Supreme Court's decision in Acuity v. M/I Homes of Chicago, holding that commercial general liability policy exceptions did not prevent coverage for damage caused by faulty workmanship, will bring more potential insurance coverage for real estate developers and, in turn, larger payouts when community organizations sue them, say Howard Dakoff and Suzanne Karbarz Rovner at Levenfeld Pearlstein.

  • NJ Foreclosure Law Will Have Multifaceted Impact On Lenders

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    New Jersey's A.B. 5664 introduces significant reforms to foreclosure proceedings in the state, potentially lessening the burden on lenders and servicers to maintain foreclosed properties, but also brings new limitations and time frames, say Christina Livorsi and Wael Amer at Day Pitney.

  • 11 Noteworthy CFPB Developments From 2023

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    Under Rohit Chopra’s leadership, 2023 was an industrious year for the Consumer Financial Protection Bureau, with developments including the release of the proposed personal financial data rights rule, publication of proposed rules involving public registries for nonbanks and the bureau's continuous battle against junk fees, all of which are sure to further progress in 2024, say attorneys at Husch Blackwell.

  • Insured Takeaways From 10th Circ. Interrelated Claims Ruling

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    The Tenth Circuit's recent ruling in American Southwest Mortgage v. Continental Casualty that multiple claims arising from consecutive audit years were interrelated — and thus subject to a per claim limit — creates a concerning precedent for policyholders, so companies should negotiate relevant policy language, says Michael Stockalper at Saxe Doernberger.