LexisNexis® Legal Newsroom
    Finally, 8 Factors Governing FIRREA Civil Penalty Awards

    The recent decision by the Central District of California in United States v. Menendez may finally give the government and FIRREA defendants a framework for their discussions. The ruling, in a small civil bank fraud case brought against an individual...

    Banking Giants Hit With Fraudulent Foreclosure Suit In NJ

    Nearly 100 foreclosed-upon homeowners accused Bank of America NA, JPMorgan Chase & Co., Wells Fargo Bank NA and other lenders of fraudulently originating or servicing mortgages through a controversial nationwide electronic mortgage tracking system...

    The Need For More Diversity In Mediation

    In our increasingly interconnected global marketplace, U.S. corporations could well profit from engaging alternative dispute resolution practitioners who are familiar with these diverse cultures. But problems in the development and retention of minority...

    A New Duty Of Care Owed To Calif. Borrowers

    In light of the California Court of Appeal opinion in Jolley v. Chase Home Finance LLC, borrowers embroiled in disputes with their lenders with respect to the lenders’ performance under a construction loan agreement — especially where the bank representatives...

    Property Co. UEL Values WBL At $953M In Latest Buyout Bid

    Property company United Engineers Ltd. on Tuesday ramped up its bid for the share of conglomerate WBL Corp. it doesn't already own, a move that came the same day it sealed shareholder support for the takeover that values WBL at $1.19 billion Singapore...

    Trustee Gets $26M Clawback Suit In Mortgage Ponzi Case Revived

    A Pennsylvania federal judge Monday overturned a bankruptcy court’s ruling that the trustee of a bankrupt home refinancing company implicated in a $65 million Ponzi scheme could not recover nearly $26 million in transfers made to numerous financial...

    NJ High Court Eyes Class Action Over Atty Fees In Evictions

    Specific charges that apartment tenants are contractually bound to shoulder for attorneys' fees in evictions are illegal because those amounts exceed the real costs of the landlord's in-house legal counsel, an attorney for a putative class of...

    Fla. House Panel OKs Tax Breaks For Wind Damage, Energy

    A Florida House panel on Tuesday approved a bill that would exempt home improvements to increase wind resistance or install renewable energy devices from consideration in annual tax appraisals, acting on a constitutional amendment voters passed in 2008...

    Fla. Bank Sues Gated-Community Developers Over $19M Loan

    Florida Community Bank NA filed suit Monday in Florida state court seeking $16.9 million outstanding on a $19.3 million loan it made to the developers of the Rive Isle Golf & Nautical Estates gated community near Sarasota. ...read more

    Yeshiva Unloads 2 More NYC Buildings To ClearRock, Juster

    Less than a week after acquiring a 17-story office tower in Manhattan from Yeshiva University, ClearRock Properties said Friday it had closed on two other buildings previously owned by the school with partner Juster Properties, bringing its week of deals...

    AstraZeneca Affiliate Wants Ch. 11 Nixed Due To Cost

    An AstraZeneca PLC affiliate that owns a contaminated chemical manufacturing site near San Francisco asked a Delaware bankruptcy judge Friday to dismiss its Chapter 11 case, saying it can no longer afford to continue the process. ...read more

    HSBC, Decision One Hit With $165M Suit Over MBS Pool

    The Federal Housing Finance Agency hit HSBC Finance Corp. and Decision One Mortgage Co. LLC with a lawsuit in New York state court Friday alleging misrepresentations about a pool of mortgage-backed securities caused at least $164.8 million of damages...

    Banks’ Credit Crisis Settlements Top $60B As Plaintiffs Reload

    The nation's largest banks have shelled out a combined $60 billion in settlements stemming from the housing collapse, according to a Friday report, but with regulators and plaintiffs attorneys starting to use old statutes in new ways to tackle financial...

    Deutsche Venture Lands $325M NYC Hotel Ground Lease

    A joint venture of Deutsche Asset & Wealth Management and Brooklyn-based investor David Werner has scooped up the ground lease for New York City's Times Square-area Milford Plaza Hotel for $325 million from private equity firm Rockpoint Group...

    SEC Investigating Apple REIT Over Disclosure Issues

    The newest of the five real estate investment trusts launched by Apple REIT Cos. Inc. disclosed in a securities filing Wednesday that the U.S. Securities and Exchange Commission is investigating all five REITs for potential disclosure violations. ...read...

    Chinese RE Investments Require Cultural, Tax Savvy

    With rumors of a housing bubble swirling and values down across China, real estate attorneys expect to see more and more wealthy Chinese families and corporations looking to the U.S. to diversify their real estate holdings, bringing with them unique tax...

    Foreclosure Notices Must Comply With Law, Pa. Justices Told

    A Pennsylvania woman urged the state's highest court Thursday to uphold a ruling stripping judges of jurisdiction over mortgage foreclosure actions when notifications provided to homeowners under state law fail to meet statutory guidelines. ...read...

    Nixon Peabody Nabs Former US Sen. For Government Team

    Nixon Peabody LLP has lured former U.S. Sen. Scott Brown, R-Mass., to its Boston office, significantly boosting its government relations and government affairs practice, particularly for its financial services and commercial real estate clients, the firm...

    Oaktree, NFR Drop $240M On Wells Fargo-Leased Offices

    An Oaktree Capital Management LP unit and privately held National Financial Realty Inc. have teamed up to purchase a large office portfolio of mostly Wells Fargo Bank-leased properties across eight states from First States Investors B LP for $240 million...

    HSH Nordbank, UBS Settle Often-Cited $500M CDO Suit

    HSH Nordbank AG and UBS AG settled their $500 million lawsuit over a soured mortgage-backed securities deal Friday, after a New York state appeals court put the kibosh on the German bank's fraud claims in a decision often cited in similar securities...

    Franklin Street Puts Down $158M For Atlanta Office Tower

    Massachusetts commercial real estate investment trust Franklin Street Properties Corp. has acquired a a 28-story office tower in Atlanta from Jamestown Properties for $158 million, Franklin Street announced in a securities filing Thursday. ...read more

    Texas Senate OKs Bill Requiring Deductibles To Be Clear

    A Texas bill that would impose new deductible disclosure requirements on property insurers easily won the state Senate's approval on Wednesday, after lawmakers tacked on an amendment that creates additional notice obligations. ...read more

    Union Beats Landlord’s $5M Claims For Blocked Renovations

    A New York judge ruled Friday that a landlord cannot recover $4.7 million in delay damages from a union that leased its building, saying the union had no obligation to let the landlord perform renovations during its occupancy so it could be quickly re...

    Prudential Slaps BofA With Fraud Suit Over $2B RMBS

    The Prudential Insurance Co. of America has accused Bank of America NA and its subsidiaries of fraudulently selling the company more than $2 billion in residential mortgage-backed securities, according to a lawsuit filed Thursday in New Jersey federal...

    NJ Senate OKs Bill To Balance Legal Fees In Lease Disputes

    The New Jersey Senate on Monday approved legislation that would require landlords to pay their tenants' attorneys' fees in legal battles if the tenants prevail, a bill that would prevent landlords from codifying legal-fee reimbursement in a lease...