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The ILSA Condo Exemption – Not Out of the Woods Yet

The Interstate Land Sales Full Disclosure Act (ILSA) is a federal statute that aims to prevent land sales fraud and uninformed purchases of unimproved real property by requiring registration of subdivisions with the Consumer...more

Double-Breasted Company Owners, Officers Can Be Indicted for Underpaying Benefit Contributions

The U.S. District Court for the District of Massachusetts held in September that the shareholders and officers of a double-breasted construction company can be indicted and could go to prison if the government proves they...more

5 things to know about PPPs in Senegal

1. Public Private Partnerships are the “Main pillar of the Plan Senegal Emergent”. The Plan Senegal Emergent (PSE) is the country’s strategic plan for development and economic growth over the next decade. The PSE aims...more

Real Estate Market Intelligence: Multifamily Development Quarterly Report - Q2 2016

Key Findings - The multifamily asset sector saw nearly $35.4 billion of investment sales activity for the first-quarter of 2016. This figure represents an 8.6% increase compared to the first-quarter of 2015 and...more

Brexit: The Impact on Commercial Real Estate

Brexit has presented increased opportunities for investment in the UK commercial real estate market, with property funds offering discounted real estate assets and with overseas investors looking to invest in what they see as...more

The Court of Appeal redefines the “but-for” causation test for negligence: Losses caused to a lender by a surveyor’s negligent...

In a landmark judgment with wide implications for the lending, refinancing and valuation industries, in Tiuta International Ltd (In liquidation) v De Villiers Surveyors Ltd [2016] EWCA Civ 661, the Court of Appeal, by a two...more

The ERISA Litigation Newsletter - May 2016

Editor’s Overview - In this issue of Proskauer's ERISA Litigation Newsletter, we review a recent ruling by the Tenth Circuit Court of Appeals concerning the application of controlled group principles to the building...more

The New Italian Public Procurement Code

The Italian Council of Ministers approved a new Legislative Decree reforming the Italian Public Procurement regulation, implementing Directives 2014/23/EU, 2014/24/EU and 2014/24/EU. On April 18, 2016, the Italian...more

Construction Financing and Mechanics’ Liens in Connecticut

Bankers and other professionals who have worked on construction loans in states other than Connecticut will know how much of a pain it can be to make construction loan advances. You usually need to perform a title update and...more

Obligation to Perform Work and Incur Costs Under Construction Contract is a Section 752 Liability

In a recently issued Private Letter Ruling (PLR 201608001), the IRS determined that a taxpayer-partnership’s obligation to perform work and incur costs under a long-term construction contract constituted a partnership...more

Turkey: Amendments to PPP legislation on way

The Republic of Turkey has been undergoing a largescale reform in the healthcare sector in the past decade, spearheaded by the Ministry of Health under its Health Transformation Program which was launched in 2003. The EUR 20...more

Construction due diligence: Sooner is always better than later

Non-payment of receivables is an ongoing problem for contractors, subcontractors and material suppliers notwithstanding the strength or weakness of the economy. Having knowledge of one’s alternative available legal remedies...more

Recent Arizona Case Law and Legislative Developments Affecting Real Estate Lending

The following information accompany a presentation Mike gave to members of the Arizona Commercial Mortgage Lenders Association (ACMLA) on March 8, 2016. A summary of legislative amendments enacted during the most recent...more

One Year Later: Avoiding Unfavorable Risk Weighting of Acquisition, Development, and Construction Loans for Commercial Real Estate...

If the number of cranes visible on skylines of metropolitan areas such as Raleigh, Charlotte, and Atlanta are any indication of the resurgence of the commercial real estate (CRE) market for now, the resounding silence of so...more

Financial information and set-off requirements under the FIDIC Red Book

The Privy Council’s recent judgment in NH International (Caribbean) Limited v National Insurance Property Development Company Limited (Trinidad and Tobago) provides a rare example of a common law court interpreting specific...more

Do Treble Damages Mean Treble Rescission?

North Carolina law awards treble damages for violations of N.C. Gen. Stat. § 75-1.1 “if damages are assessed.” A recent Fourth Circuit decision asks this question: If a plaintiff seeks rescission, and if the defendant’s...more

Application Deadline for the CITF Grant and Loan Program – February 26, 2016

The deadline to submit applications for Community Infrastructure and Tourism Fund (CITF) grants and loans is February 26, 2016. There is an estimated $6,600,000 available in grants and loans for approved applicants. The...more

Amendment to Illinois Mechanics Lien Act Authorizes Bonding Over of Mechanics Liens Claims

As of January 1, 2016, an amendment to the Illinois Mechanics Lien Act, 770 ILCS. 60/38.1, allows parties with an interest in real estate to substitute an eligible surety bond for a claim for mechanics lien as security for...more

One belt one road - China's new outbound trade initiative

China’s 'One belt one road' initiative was first introduced by President Xi Jinping during his visits to Central and Southeast Asia in September and October 2013. With the dawn of 2016, it is appropriate time to take stock...more

Dubai Embraces PPP … Again

THE BACKGROUND - PPPs in the UAE or the wider GCC are not new. They have historically been undertaken under project-specific legislation or approvals. Mubadala Development Company initiated PPPs in the UAE with UAE...more

Guarantors’ “Lost Profits” Completely Offset Lender’s Deficiency Claim

Believe it or not, lenders can breach loan agreements too…and when they do, there can be significant consequences. In Great Western Bank v. LJC Dev., LLC, 726 Ariz. Adv. Rep. 21 (Ariz. Ct. App. Nov. 10, 2015), the Court of...more

Russia: Economic Sanctions on Turkey

On 29 December 2015, the Russian Government adopted Resolutions No. 1457 and No. 1458 specifying the scope of sanctions and restrictions which were imposed by the President Decree No. 583 and further extended by Decree No....more

Guaranteed Sunshine: Performance and Testing of Solar Power Projects

This article is the third of three articles on solar power projects and discusses testing and performance guarantees in the context of engineering, procurement and construction (“EPC”) contracts for solar photovoltaic power...more

Real Estate Gazette - Issue 22: Focus on Specialized Assets

It is clear that demographics play a part in dictating which investment opportunities are prominent at any point in time. For example, in France, the rise in student numbers has boosted demand for student accommodation in the...more

Rising to the challenge: South Korea: Building for the future

South Korea is one of Asia's powerhouses, and its strong exports sector and willingness to adapt its economy make it highly attractive to investors. South Korea's economic development has been remarkable. It became the...more

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