Commercial

  • February 12, 2024

    Activists Ask Justices To Reverse Calif. Tribal Casino Approval

    An anti-casino advocacy group has asked the U.S. Supreme Court to review a Ninth Circuit decision that upholds the dismissal of its suit, claiming the federal government erred when finding that the Ione Band of Miwok Indians is eligible to open a casino in California.

  • February 12, 2024

    WeWork Lenders Blast SoftBank, Ask For Ch. 11 Examiner

    An ad hoc group of WeWork noteholders have urged the bankruptcy court in New Jersey to appoint an examiner in the coworking space company's Chapter 11 proceedings, asserting that "things are not going as planned" due to "fundamental flaws" in the debtor's case and its ties to SoftBank.

  • February 12, 2024

    Judge Amends Camp Operator's $1M Surety Bond Order

    A federal district judge has agreed to modify a Montana campground operator's $1 million surety bond stay order pending an appeal to the Ninth Circuit, saying the company's proposed substitution of its projected net income for 2024 raises questions about its reported principal income.

  • February 12, 2024

    2 Firms Guide Carlyle Entity's $265M NYC Skyscraper Buy

    Real estate mogul Albert Kalimian has sold The Aire, a 43-story Manhattan skyscraper, to an affiliate of The Carlyle Group for $265 million in a deal shaped by Greenberg Traurig and Simpson Thacher.

  • February 12, 2024

    Flagstar Takes Aim At 'Nonsensical' $3M Signature Fraud Suit

    Flagstar Bank has urged a New York federal judge to toss a cash advance lender's suit that seeks millions of dollars allegedly stolen from its account at Signature Bank years before the bank failed, saying the theory that Flagstar should be on the hook for Signature's liabilities as its acquirer is "nonsensical."

  • February 12, 2024

    NYC Real Estate Heiress Calls Misconduct Claims A 'Fiction'

    An heiress of real estate mogul Sol Goldman's New York City real estate empire and other parties asked a New York state court to toss several claims made by family members who allege that she wrongfully seized total control of the family business.

  • February 12, 2024

    Ga. Attys Claim Fund Managers Organized Illegal Tax Shelter

    Managers of a fund profited by selling units in a "grossly inflated" tax shelter and then hid a federal criminal investigation into the arrangement from investors, partners in an Athens, Georgia, law firm said in a suit recently transferred to federal court.

  • February 12, 2024

    Customer Can Sue Closed Bowling Alley For Slip-And-Fall

    A Michigan appeals court won't spare the former operator of a Detroit-area bowling alley from a man's slip-and-fall lawsuit, saying she missed her opportunity to shutter her companies in such a way as to shorten the window when civil liability claims could be filed.

  • February 12, 2024

    Judge Refuses To Strip NYC Of Its XXX Business Zoning Laws

    A federal judge found the city of New York acted constitutionally in passing rules in 2001 that restricted where a category of adult entertainment purveyors could do business, in a long-running dispute brought by 19 companies arguing the legislation unfairly targets them.

  • February 12, 2024

    Ind. Seed Lab Property Exempt From Tax, Board Says

    An Indiana laboratory used to test seeds qualifies for a property tax exemption because it is used for scientific purposes and benefits the public, the state Board of Tax Review said.

  • February 12, 2024

    $1M Alcohol Spill Coverage Suit Not Federal Case, Co. Says

    A packaging company being sued by its insurer after expired alcoholic beverages seeped into a warehouse floor, causing more than $1 million in damage, told a Tennessee federal court it should toss the suit because it lacked jurisdiction.

  • February 12, 2024

    Barry McTiernan Signs Battery Park Plaza Lease

    Commercial real estate company Rudin said Monday that Barry McTiernan & Moore LLC will move its headquarters to the tower at One Battery Park Plaza in a deal that involved broker Cushman & Wakefield.

  • February 09, 2024

    Judge Refuses To Quash Subpoenas In Umpqua Bank Case

    A California federal judge has rejected a group of investors' effort to quash a series of subpoenas served by Umpqua Bank on third parties, ruling that the investors lacked merit in their opposition and that the bank adhered to the rules of discovery.

  • February 09, 2024

    Pike Place TM Suit Dismissed Following Seattle Settlement

    A Washington judge tossed a trademark infringement case between a popular Seattle fish stand and its landlord after the two parties came to a settlement agreement over claims that the stand had infringed the "Pike Place" mark through the sale of packaged smoked salmon.

  • February 09, 2024

    Fruit Of The Loom Entity Seeks Pay For Sports Complex Work

    Fruit of the Loom subsidiary Russell Brands LLC said it's owed $256,000 for its work on the construction of an Ohio sports complex, telling an Ohio federal court that the builder, property owner and surety have failed to tender payment nearly a year after the work was completed.

  • February 09, 2024

    Judges Pour Cold Water On Homeowner's Sprinkler Suit

    A lower court was correct in finding that a homeowner can't prove adverse possession of disputed property because he hasn't lived in the home long enough, a Michigan Court of Appeals panel said.

  • February 09, 2024

    Cushman Doesn't Pay Workers On Time, Suit Says

    A former Cushman & Wakefield employee accused the real estate services firm of not paying him on time in New York federal court this week.

  • February 09, 2024

    6th Circ. Says Fed. Court Can't Hear $420K Tax Lien Case

    Federal law prevents an Ohio company from suing county tax assessors in Ohio federal court over whether the company owes more than $420,000 in back property taxes, a Sixth Circuit panel ruled.

  • February 09, 2024

    3 Firms Guide $91M In Loans For Vacant Brooklyn Land

    An LLC affiliated with Artimus Construction Inc. has finalized nearly $91 million in mortgage loans for a property in Brooklyn, New York, in deals advised by Sidley Austin LLP, Troutman Pepper Hamilton Sanders LLP and Windels Marx, according to official records released Friday.

  • February 09, 2024

    Property Plays: MCR, Black Spruce, Willow Bridge

    MCR has landed $333 million in refinancing for a multistate hotel portfolio, Black Spruce Management has scored $146 million in financing for a Manhattan multifamily property, and Willow Bridge Property has landed $175 million in financing for three multifamily properties.

  • February 02, 2024

    NJ Borough Says It Didn't Block Paint Factory Redevelopment

    A New Jersey borough denied claims made by two companies that it wrongfully stopped them from buying and redeveloping a former paint factory by adopting an opposing redevelopment plan and ordinance.

  • February 09, 2024

    Groups Claim NYC Hospital Closing To Liquidate Real Estate

    A community group, tenants associations and other organizations claimed in New York state court that the Mount Sinai Health System's unapproved and "grossly deficient" closure and service reduction plans for Mount Sinai Beth Israel Hospital are attempts to profit from "very, very valuable" Manhattan real estate.

  • February 09, 2024

    Atlanta Atty Keeps $1.15M Fee Award Despite Tossing Notes

    A Georgia state appellate court has upheld an award of $1.15 million in attorney fees to a solo-practice attorney, saying an Atlanta-based airport travel spa operator he did work for failed to show the trial court was wrong in finding the attorney didn't have to save notes about the legal services he provided.

  • February 09, 2024

    DLA Piper Adds Former McDermott Partner In DC

    A former McDermott Will & Emery LLP partner who advises financial services firms has jumped to DLA Piper in Washington, D.C., after more than two years with his previous firm.

  • February 09, 2024

    Bad Faith Claim Rejected Again In Hurricane Ida Coverage Suit

    A Louisiana federal judge again refused to find that the insurer of a suburban New Orleans commercial property acted in bad faith in denying to cover $220,000 in damage Hurricane Ida allegedly caused in 2021.

Expert Analysis

  • Law Firm Professional Development Steps To Thrive In AI Era

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    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

  • Key Provisions In Florida's New Insurer Accountability Act

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    Florida's recent bipartisan Insurer Accountability Act introduces a range of new obligations for insurance companies and regulatory bodies to strengthen consumer protection, and other states may follow suit should it prove successful at ensuring a reliable insurance market, say Jan Larson and Benjamin Malings at Jenner & Block.

  • Best Practices For Lenders To Limit Recourse Liability

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    As projects face loan maturities in a higher interest rate environment, lenders should diligently observe even seemingly innocuous formalities following an event of default in order to minimize potential recourse liability, especially when borrowers have certain covenants, say Ryan Goins and Matthias Kleinsasser at Winstead.

  • The Basics Of Being A Knowledge Management Attorney

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    Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.

  • Rising Interest Rates Bring Risk For Construction Contractors

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    With rising interest rates causing many construction projects to be slowed or halted, it's important for general contractors to implement safeguard measures against the risk of significant financial losses caused by owner-driven schedule modifications, says Kevin Riexinger at Gfeller Laurie.

  • Keys To Navigating The Post-Pandemic CRE Market

    Excerpt from Practical Guidance
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    As the commercial real estate market continues to face repercussions from the COVID-19 pandemic, lawyers should use office occupancy and leasing volume numbers to anticipate future trends and help guide clients through an uncertain landscape, says Joseph Calvanico at J2C Valuations.

  • To Hire And Keep Top Talent, Think Beyond Compensation

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    Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.

  • How Rate Exportation Is Shifting Amid Regulatory Trends

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    All banks and their partners, including fintechs, that wish to lend to borrowers in multiple states and charge uniform interest rates should heed regulatory developments across the country and determine how best to mitigate risks in their efforts to offer credit to consumers on a nationwide basis, say attorneys at Ballard Spahr.

  • How The Commercial Real Estate Slump May Weigh On Banks

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    The continuing underperformance of the U.S. commercial real estate market has significant implications for the financial performance and disclosure requirements for various banks, especially regional ones with large debt exposures, say Atanu Saha and Yong Xu at StoneTurn.

  • Negotiating Material Escalation In Construction Contracts

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    As material price escalation clauses have remained popular in construction contracts despite an easing of recent supply chain issues, attorneys representing owners should understand key considerations for negotiating such clauses, and strategies to mitigate potential exploitation by contractors, says H. Arthur Black II at Brooks Pierce.

  • Landlords Should Prep As WeWork Faces Potential Ch. 11

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    After years of financial trouble and the recent announcement that it has substantial doubt that it would be able to continue as a going concern, WeWork may have a bankruptcy filing in its future that would have a significant impact on landlords and other stakeholders who are owed money by the company, say attorneys at Cadwalader.

  • Identifying Trends And Tips In Litigation Financing Disclosure

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    Growing interest and controversy in litigation financing raise several salient concerns, but exploring recent compelled disclosure trends from courts around the country can help practitioners further their clients' interests, say Sean Callagy and Samuel Sokolsky at Arnold & Porter.

  • Key Drivers Behind Widespread Adoption Of NAV Financing

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    While net asset value-based lending has existed for years, NAV lending has only started to move into the mainstream recently — likely due to difficult market conditions faced by sponsors including persistent inflation, high interest rates and a lack of exit opportunities, say Matthew Kerfoot and Jinyoung Joo at Proskauer.