LexisNexis® Legal Newsroom
    Landmark Hudson Yards Lease Will Spur More West Side Deals

    The closing this week of three major anchor leases at New York's highly touted Hudson Yards project will likely encourage a more concerted move westward among retail and tech tenants looking for a respite from expensive Midtown rents. ...read more

    NM Enviro Group Seeks Contempt Order In Building Code Spat

    A New Mexico environmental group asked a state appeals court Thursday to hold the state's Construction Industries Division in contempt of court for allegedly continuing to enforce environmental building codes after the appeals court ordered them set...

    $500M Wrigley Field Face-Lift Plan Scores Key Approval

    After several months of negotiations, Chicago officials have finalized a deal with the Chicago Cubs to get the ball rolling on a $500 million renovation of Wrigley Field and the development of nearby property, they announced Monday. ...read more

    Behringer Offers Equity Backing To Spur Austin Luxury Tower

    Continuing its deals streak in Texas, Behringer Harvard has invested in its first Austin development project, with an undisclosed equity commitment to get construction started on a 24-story luxury apartment tower, it announced Monday. ...read more

    Wells Fargo Wants Suit Over $50M Home Loan Deal Junked

    Wells Fargo Bank NA sought Friday to toss a proposed class action by homeowners accusing the bank of using unreliable appraisal methods in violation of a $50 million settlement over its Wachovia unit's so-called pick-a-payment home loans. ...read...

    Witkoff Group Drops $25.5M On South Beach Hotel

    New York-based real estate developer The Witkoff Group has shelled out $25.5 million to buy the former Wyndham Garden Hotel Miami South Beach from Majestic Organization LLC, broker CBRE Group Inc. announced Monday. ...read more

    Amended Complaint Nullifies Original In 3rd Circ.

    The Third Circuit ruling in West Run Student Housing Associates LLC v. Huntington National Bank serves as a reminder of the advisability of amending pleadings, where permitted by the federal rules, when errors are discovered. Failure to do so could bind...

    Coach Pours $750M Into Hudson Yards Project For New HQ

    The south tower of New York's highly touted Hudson Yards development is more than 80 percent leased, with high-end handbag maker Coach Inc. putting up $750 million to anchor the 1.7 million-square-foot Manhattan office building, the company said Wednesday...

    11th Circ. Weighs How To Split Fee Award Among 3 Firms

    An Eleventh Circuit panel on Thursday weighed how to divvy up attorneys' fees from a $12 million award for a Miami condominium association whose attorney was associated with three different firms over the course of the association's dispute with...

    BofA Withheld Insurance Funds, Homeowners Claim

    A putative class action launched Thursday in Oklahoma federal court accuses Bank of America NA of improperly holding back insurance payments from homeowners who needed them for property repairs. ...read more

    ResCap Judge Leaves $8M In Bonuses Up In The Air

    A New York bankruptcy judge on Thursday held off on approving nearly $8 million in bonuses for Residential Capital LLC employees and executives after questioning the fallen mortgage servicer’s attorneys on whether the goals required for the recipients...

    Ex-Credit Suisse Exec Admits To Cooking MBS Books

    Former Credit Suisse AG investment banker Kareem Serageldin pled guilty in New York federal court Friday to charges of inflating the value of mortgage-linked bonds to mask losses in the wake of the subprime mortgage market's collapse. ...read more

    Developer Seeks $8.2M From Ex-Partner Over Manhattan Reno

    A New York developer has sued his former partner and two related companies in a Manhattan synagogue and apartment project over allegedly fraudulently transferring assets to get out of paying back certain debts, according to a Wednesday state court complaint...

    Taylor Bean Ex-Honcho Owes Insurer $1M, 4th Circ. Rules

    The Fourth Circuit on Thursday affirmed a lower court’s decision that the convicted ex-chairman of bankrupt lender Taylor Bean & Whitaker Mortgage Corp. will have to give back the nearly $1 million his insurance company laid out for his criminal...

    Ally Could Be On Hook For $25B, ResCap Creditors Say

    Residential Capital LLC unsecured creditors on Thursday asked a New York bankruptcy judge for permission to sue ResCap’s former parent, Ally Financial Inc., saying the auto lender could be responsible for up to $25 billion for its role in ResCap’s...

    Treasury To Audit $1B Fla. Mortgage Assistance Program

    The federal government will investigate Florida's $1 billion mortgage assistance program after U.S. Sen. Bill Nelson, D-Fla., alerted federal officials about potential mismanagement within the program, Nelson said Thursday. ...read more

    ResCap Fires Back At US In Defense Of $8M In Bonuses

    Residential Capital LLC on Tuesday defended its $8 million in bonuses for employees, saying a New York bankruptcy court should ignore the U.S. trustee’s objection because the payments are needed to incentivize key workers to perform challenging...

    $1B Wynn Casino Backed By Philly Neighborhood Association

    An influential Philadelphia neighbors' association put its weight behind casino magnate Steve Wynn's proposal for Philadelphia's final casino license late Monday, voting 173 to 55 to support the plan for a $1 billion, 60-acre resort and gaming...

    Borrowers To Get First Of $1.2B Foreclosure Deal Payments

    Mortgage servicers will begin sending out the first $1.2 billion in payments this week to borrowers whose homes were placed into foreclosure in 2009 and 2010, with the majority receiving the minimum $300 payment required under a settlement reached earlier...

    Fla. Lawmakers Decry Expedited Foreclosure Bill

    Four Florida lawmakers and an advocacy group for low-income families on Monday criticized proposed legislation that would expedite the foreclosure process and divert foreclosure fraud settlement money to state coffers rather than help struggling homeowners...

    Polsinelli Lands Ex-Bell Nunnally Health Care Litigation Pro

    Polsinelli Shughart PC has landed a health care and commercial litigation wizard from Bell Nunnally & Martin LLP who is experienced in antitrust, real estate and employment matters to join its Dallas office as a shareholder, the firm announced Monday...

    PE Firms Must Tread Lightly To Cash In On Mortgage Servicing

    Private equity firms are inking big-ticket deals for mortgage servicing rights from banks under increasing regulatory pressure to get out of the business, positioning themselves to be big players in a potentially lucrative industry as long as they can...

    Chinese Investors Reach $1.5B Deal To Back SF Project

    Following a series of trade talks between California and China, a Chinese investment group has formed a $1.5 billion partnership with Signature Development Group to jump-start the developer's delayed mixed-use project in the San Francisco Bay area...

    Oppenheimer Escapes $767M Suit Over MBS Funding

    A New York state judge on Wednesday threw out a $767 million lawsuit alleging OppenheimerFunds Inc. duped lenders into funding a special-purpose vehicle tied to the imploding housing market in 2007, ruling the vehicle was still performing as expected...

    Miami Panel To Weigh Dolphins Stadium Upgrade Deal

    A county referendum on the Miami Dolphins' use of public funds to modernize Sun Life Stadium is expected to be set for May 14 when Miami-Dade county commissioners convene Wednesday to consider a proposal from the team and County Mayor Carlos Gimenez...