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Last year, the Second Circuit faced a constitutional challenge to condemnation of private land for purposes of building the Atlantic Yards Arena Redevelopment Project. In that case, the court held that the federal constitution did not prevent condemnation, because the proposed project was rationally related to several classic public uses, including relief of blight and provision of a sporting arena. Goldstein v. Pataki, 516 F.3d 50. At the end of February, however, the First Department faced another challenge to the Atlantic Yards condemnation ' this one a statutory challenge to the authority of the Empire State Development Corporation (ESDC) to condemn some of the private land. In Matter of Don't Destroy (Brooklyn) v. Urban Development Corp., the First Department rejected that challenge as well, suggesting in effect that the statutory power granted to the ESDC is co-extensive with its constitutional power.
The Project
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There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
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In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.