LexisNexis® Legal Newsroom
    Foreign Pension Funds Could Back US Infrastructure

    In order to incentivize foreign pension funds to invest in U.S. infrastructure projects — such as oil and gas fields, pipelines, real estate development and toll roads — the Obama administration has proposed putting foreign pension funds on equal footing...

    NJ Court Says Town Gave Proper Notice For Zoning Changes

    A New Jersey appellate court ruled Monday that Mahwah Township appropriately informed its property owners of an ordinance that authorizes health and fitness centers in two township industrial zones, saying a lower court incorrectly interpreted state law...

    NJ Tax Lien Schemer Gets Probation, Fine

    A New Jersey company snared last year in a broad federal probe into the rigging of municipal tax lien auctions will shoulder a $15,000 fine and two years of probation for its part in the conspiracy, sources said Monday. ...read more

    Commonwealth REIT Slams $3B Corvex, Related Takeover Bid

    CommonWealth REIT on Monday said it has rejected a $2.9 billion offer by hedge fund Corvex Management LP and Related Fund Management LLC to purchase all of Commonwealth’s shares, as it has determined it is in shareholders’ and the company’s...

    Polsinelli Nabs Chicago RE, Wind Energy Pro From Reed Smith

    The Chicago office of Polsinelli Shughart PC has picked up a new real estate shareholder from the ranks of Reed Smith LLP with significant expertise in commercial real estate deals and wind-power projects, the firm announced Monday. ...read more

    $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

    ETP Unit Must Face $162M Property Tax Suit, Texas Court Says

    A Texas appeals court ruled Tuesday that an Energy Transfer Partners LP subsidiary must continue litigation over its obligation to pay property taxes on $162 million worth of natural gas stored in Harris County, saying it didn't exhaust its administrative...

    Squire Sanders Lands Edwards Wildman RE Pro In Fla.

    Squire Sanders has picked up the former chair of Edwards Wildman Palmer LLP's public policy and governmental relations department to join its West Palm Beach, Fla., office as a partner in its real estate department, the firm announced Wednesday. ...

    Empire State Building Skyride Co. Sues Landlords In Ad Row

    The owner of the New York Skyride, an attraction in the Empire State Building, sued its landlords in New York state court on Friday, claiming they are harassing it over its advertising in a bid to terminate its lease. ...read more

    How To Avoid Litigation When Selling RE Loan Portfolios

    As more than $1 trillion in commercial real estate loans comes due over the next five years, sales of commercial loan portfolios are expected to rise, and experts say banks and their lawyers can protect themselves from associated litigation by making...

    Security Price Drop Not Enough For ERISA Breach: 2nd Circ.

    The Second Circuit on Tuesday ruled that the decline in the market price of a security does not, by itself, establish a reasonable inference that it was imprudent to hold that security, upholding the dismissal of a suit accusing Morgan Stanley Investment...

    Amended Complaints Not Bound By Earlier Claims: 3rd Circ.

    The Third Circuit ruled Thursday that statements made in a lawsuit are not binding judicial admissions and can be voided by assertions made in subsequent complaints even if they contradict the original claims, reviving a loan dispute between Huntington...

    Fed Rule Gives Regulators Cover To Boost Nonbank Scrutiny

    A Federal Reserve rule released Wednesday defining what constitutes a nonbank financial firm gives regulators some legal protections in their efforts to designate an insurer or other firm as systemically important and subject to increased supervision...

    BofA Seeks Out Of $1B FCA Suit Over Junk Mortgage Loans

    Bank of America Corp. again urged a New York federal judge on Thursday to dismiss a $1 billion False Claims Act suit against the bank over junk mortgage loans, arguing that the U.S. government's allegations of a fraud scheme are too vague and relied...

    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...

    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