LexisNexis® Legal Newsroom
    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

    Deals Rumor Mill: KKR, Carlyle, Lenovo

    KKR is deciding whether to tackle a $12.5 billion takeover of Life Technologies Corp. while Lenovo's CEO sent BlackBerry shares soaring when he revealed he might be interested in a buyout of the smartphone maker. ...read more

    Prudential Offers $425M Loans To Chicago, Seattle Towers

    In a nod to the strengthening office market, Prudential Mortgage Capital Co. has provided a $425 million financing package to two high-rise properties — one in Chicago, another in Seattle — and plans to strike similar deals in the future,...

    NY Real Estate Attys Shun E-Signing At High Cost

    New York is one of the few states where many real estate practitioners prefer to do deals the old-fashioned way, without the use of electronic signatures. Whether it's Luddism or a concern about liability, experts say this hesitancy to adapt may be...

    Fed. Circ. Vacates Real Estate IP Win In Light Of Akamai

    The Federal Circuit on Monday vacated a decision that real estate website operator Move Inc. did not infringe a Real Estate Alliance Ltd. patent, finding that the ruling must be reviewed in light of a recent Federal Circuit ruling on induced infringement...

    Hotel Zaza Project Highlights Hole In Austin Code

    A 24-story Hotel Zaza project proposed in Austin, Texas, has been hiccuping along its local approval process, demonstrating a hole in Austin's zoning code — and a tug-of-war over community benefit requirements — that developers will likely...

    Piedmont REIT Pays $175.6M To Pick Up DC-Area Office

    Piedmont Office Realty Trust Inc. has scooped up a Washington, D.C.-area office property from Arlington Gateway Investors LLC for $175.6 million, continuing its expansion in the area, according to a Monday statement. ...read more

    HSBC Inks $3.2B Deal To Shed Consumer Loan Portfolio

    HSBC Holdings PLC will unload a consumer loan portfolio in a $3.2 billion sale to a private equity-backed lender and a New York-based real estate investment trust, in line with plans to dial down its U.S. business, the European megabank said Tuesday....

    LodgeNet, DirecTV To Partner Up Under Approved Ch. 11 Plan

    A New York bankruptcy judge on Thursday gave LodgeNet Interactive Corp. the go-ahead to implement its Chapter 11 plan, including a strategic partnership with DirecTV Group Inc., overruling opponents who tried to stand in the way of the company’s...

    Investor Sues Nationstar Over Barred Mortgage Auctions

    An investor in mortgage-backed securities on Thursday sued Nationstar Mortgage Holdings Inc. in New York state court, alleging that the servicer has been selling off mortgages in those securities at fire-sale prices in violation of its duties as the master...

    Chinese Investors In Talks For Stake In GM Building

    A group of Chinese real estate investors is reportedly in talks to buy a 40 percent stake in Manhattan's General Motors Building that would value the 50-story icon at about $3.4 billion. ...read more

    Fla. Courts Say $35M From Mortgage Deal Will Ease Backlog

    The administrator for the Florida state court system on Wednesday asked legislators for $35 million from the state's share of a $25 billion national settlement with the country's largest mortgage servicers to help the courts deal with the backlog...

    DOJ Up To 29 Plea Deals In Foreclosure Bid-Rigging Probe

    The U.S. Department of Justice on Thursday said that two California real estate investors have agreed to plead guilty for their part in bid-rigging conspiracies at public foreclosure auctions, bringing the number of people copping to antitrust crimes...

    Senate Dem Urges DOJ Probe Of Fla. Mortgage Firm

    A Democratic senator on Thursday asked the U.S. Department of Justice to probe an alleged scheme at Lender Processing Services Inc., a Florida mortgage servicing technology firm, that resulted in homeowners and investors getting double-billed for legal...

    Pa. High Court Snubs Appeal Over 630-Acre Quarry Project

    The Pennsylvania Supreme Court on Wednesday shot down an appeal of a zoning decision brought by a company that had been seeking to build an approximately 630-acre quarry outside Allentown for nearly a decade. ...read more

    To End Fannie, Freddie, Congress Must Redo Mortgage Market

    The federal regulator charged with overseeing Fannie Mae and Freddie Mac revealed plans Monday to begin the slow process of replacing the failed housing giants, but a true overhaul won’t succeed until the Obama administration and Congress find a...

    Keystone Appeal Could Force Eminent Domain Delays

    A Texas appeals court will hear arguments Thursday that a trial judge wrongly allowed TransCanada Keystone Pipeline LP to condemn private land before the company proved it qualified as a common carrier, in a case pipelines say has the potential to significantly...

    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...