Representation and warranty insurance (RWI) has boomed in popularity in the highly-regulated world of healthcare provider deals, and many dealmakers assume it will continue to be available as we ride the current wave of deals seeking to close by year-end 2021. That assumption may be wrong ...
It is still possible to regain property expropriated by the state after the Second World War, and in some cases compensation is awarded instead. Real estate in Poland was expropriated by the state on a massive scale. This was done by operation of law or through administrative orders, which in most cases were issued in violation of the law in force at that time ...
Chances are your business has been interrupted by the Coronavirus epidemic, and if you rent space, you are considering how to obtain rent concessions from your landlord. Most likely, your lease will not give you an express right to rent abatement if your use is precluded by a "shelter-in-place" order or other government action ...
The key objective of the Building Safety Act 2022 is to improve building safety across the built environment, with a particular focus on the residential sector. The BSA received Royal Assent in April 2022 and will be implemented in stages ...
The government is pushing ahead with the establishment of a Responsible Actors Scheme (RAS) provided for under s.126 and 129 of the Building Safety Act 2022. The Scheme is initially aimed at major housebuilders and other large developers that have developed or refurbished multiple residential buildings that are known to have life-critical fire safety defects ...
Since February 2022, Russia has adopted a number of regulations that aim to restrict real estate transactions involving persons/entities from certain foreign states. Such transactions require specific governmental approval prior to their conclusion. Further regulation has provided a number of exceptions to the previous prohibitions ...
Legislation about retainage has become common place as many states have adopted different limitations, requirements, and schemes. A recent case in Tennessee is a good reminder that you must pay attention to all of the relevant state’s requirements. Failure to do so can be costly. In Snake Steel, Inc. v. Holladay Construction Group, LLC, the Tennessee Supreme Court recently addressed Tennessee's retainage requirements ...
A Texas federal court recently ordered an insurer to reimburse an oil and gas company for costs and expenses incurred while defending against environmental claims. The court found that a duty to defend existed even though the insured failed to immediately notify the insurer of the occurrence, giving rise to the claim as required by the insurance policy, and despite alleged willful miscon- duct that was excluded from coverage under the policy ...
It is difficult to capture in a sentence the impact the COVID-19 pandemic is having on our health, our families, our fears, the operations of businesses of all sizes, the world’s governments, and our future. Not one segment of people or group of businesses has reported the pandemic is not affecting them. It therefore should not come as a surprise that the reverse mortgage industry is feeling the effects of the pandemic ...
A West Virginia federal district court recently addressed a plaintiff’s claims that her reverse mortgage violated at least two statutes and West Virginia common law. The plaintiff was one of two borrowers on that mortgage and sued the mortgage lender and its servicing affiliate. The servicer moved to dismiss. The court granted the motion in part and denied it in part ...
In recent days, the CFPB has taken significant actions that will have a lasting impact on mortgage servicers. First, on April 1, the CFPB issued Bulletin 2021-02, warning servicers that being “unprepared is unacceptable.” This bulletin provides important insight into the CFPB’s supervision and enforcement priorities related to servicers’ handling of the COVID-19 crisis ...
The much-awaited Renters (Reform) Bill received its first reading in the House of Commons last week, on Wednesday 17 May 2023. After five years of consultation and refinement, the reforms aim to improve the leasehold system through increased regulation, digitisation and standardisation. The Bill seeks to provide greater flexibility and security for residential tenants by imposing additional restrictions on private landlords ...
After Atlanta-based developer, Carter USA, pulled out as the master developer of the Banks Project along Cincinnati’s riverfront, the project effectively stalled. However, the Joint Banks Steering Committee (JBSC), charged with offering recommendations with respect to this project, reconvened January 23, 2018 to take two actions ...
When negotiating a complex change order or preparing to litigate a claim, calculating actual recoverable costs incurred can be a difficult exercise. You will want to first review your contract to determine what kinds of costs are compensable. For example, the change order provision of your contract may provide a specific markup that can be included in a change request or limit the recovery of indirect costs and overhead associated with a change ...
We all need our town centres. But more than that, we need our town centres to work better for us. As consumers grow increasingly comfortable with online shopping, the realisation that our towns are over-reliant on retail is being played out at a national level. No longer can we expect empty retail units to be snapped up by new tenants in a matter of weeks ...
Shoosmiths hosts a roundtable covering the partnerships model in the UK's living sector, as part of the UKAA’s Annual Build to Rent Conference 2023. As the UK’s residential market navigates economic challenges, including the impact of elevated interest rates and borrowing costs, many real estate businesses are now exploring partnerships ...
Bringing together leading developers, agents, operators, design specialists, as well as policy and legal experts, Shoosmiths hosts a roundtable discussion on meeting the real estate demands of the UK’s life sciences sector ...
This week the government has published the draft legislation for the residential property developer tax (“RPDT”) for technical consultation. RPDT is a new tax, intended to be imposed on companies carrying out residential property development from 1 April 2022, and described by the government as being introduced “to ensure that the largest developers make a fair contribution to help fund the government’s cladding remediation costs” ...
Although the Czech real estate market has recently witnessed several significant deals (see Attractive Real Estate Business in the Czech Republic), there is definitely still great potential in the Czech Republic for future investors. Correspondingly, according to the latest figures, it seems that even a forecast of a 6% price increase will be surpassed in 2015 ...
