3rd Circuit Property Law News - U.S. Third Circuit
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New Jersey officials, as well as environmental activists, are challenging seismic studies from just 15 miles off Barnegat Light, reports The SandPaper. The parties requested a preliminary injunction, which the district court denied. Earlier this week, the Third Circuit also declined to grant the preliminary injunction.

Let's take a closer look at the legal -- and environmental issues -- at stake.

It's not often that we review state Supreme Court cases, but when the court is the Delaware Supreme Court, and that court adopts a new standard of review to apply to certain types of buyouts hat will likely affect many U.S. corporations -- we listen.

The Deal

The present case that brought about an upheaval in Delaware corporate law revolves around Ronald Perelman's corporate universe. Ronald Perelman owns MacAndrew & Forbes, which in turn owned a 43% stake in MFW. In 2011, Perelman began exploring the opportunity to take MFW private and received independent valuations that MFW stock was worth between $10 and $32.

How do the Fair Credit Reporting Act ("FCRA") and the Higher Education Act of 1965 ("HEA") interact, when it comes to the information a university reports to a credit agency related to student loan indebtedness? That was the question before the Third Circuit in Seamans v. Temple University.

Background

Edward Seamans received a Federal Perkins Loan, on January 16, 1989, from Temple University ("Temple"), in the amount of $1,180. His first payment was due on January 20, 1992, he did not pay, and in August of the same year, Temple notified him that the loan was forwarded for collection.

In the continuing tug-of-war between states and the EPA, the Clean Water Act is again up for review in the Third Circuit. Not just an environmental issue, cases such as this illustrate the difficulty in finding a balance of power between the state and federal government.

Background

The American Farm Bureau Federation filed claims in federal court alleging that under the Clean Water Act ("CWA"), the EPA (1) lacked authority to issue the Chesapeake Bay Total Maximum Daily Load for Nitrogen, Phosphorus, and Sediment ("TMDL"); (2) the TMDL is ultra vires; (3) the TMDL is arbitrary and capricious; and (4) the EPA's actions violated the Administrative Procedures Act ("APA").

In this private class action against Kid Brands, Inc, and its officers, a private shareholder's pleading requirements are examined, and clarified.

Earlier this week, the Third Circuit Court of Appeals was faced with an issue of first impression: whether state tort claims, brought by private property owners against an in-state source of pollution, were preempted by the Clean Air Act. The district court found that the claims were preempted.

The Third Circuit disagreed, and reversed and remanded for further proceedings.

Finders, Keepers? Switt Family to Appeal Double Eagle Coin Ruling

Double Eagle gold coins are extremely rare and extremely valuable. The only Double Eagle that is legally-owned by a private collector set the winning bidder back $7.6 million in a 2002 auction.

Last year, a Philadelphia family went to court to argue that the government couldn't keep 10 Double Eagles they found in their father's safe deposit box because it couldn't prove that the coins had been stolen, The New York Times reports. The jury disagreed.

Now, the family wants the Third Circuit Court of Appeals to consider the case after a federal judge recently upheld the jury verdict, according to The Associated Press. That seems like a wise move: The coins are collectively worth almost $80 million.

Third Circuit Allows Delaware River Deepening to Proceed

Here’s some news on the Delaware River channel dispute.

The Third Circuit Court of Appeals has chimed in, upholding prior rulings by federal district courts in Trenton (NJ) and Wilmington (DE). The ruling opens the door to the continuation of the deepening project. The project would deepen the channel from 40 feet to 45 feet, a move that was opposed by some environmental groups, reports the Philadelphia Inquirer.

Third Circuit Refuses to Stop Pittsburgh Civic Arena Demolition

Sports arenas often encounter a Velveteen Rabbit problem; eventually, the teams that love theses arenas want something newer, bigger, and flashier. The old arenas are abandoned, forgotten, and finally demolished.

The Pittsburgh Civic Arena, fondly known as the Igloo, suffered a similar Velveteen Rabbit fate. Workers began demolishing the Igloo on Monday after the Third Circuit Court of Appeals denied an emergency motion for injunction to delay demolition last Friday.

The Igloo, opened in 1961, was the retractable-roof marvel that served as the Pittsburgh Penguins home for 43 years. In August 2010, the Penguins moved across the street to their new arena, the Consul Energy Center. Last September, the Igloo’s owner, Sports and Exhibition Authority of Pittsburgh and Allegheny County (SEA), voted to demolish the structure.

In re: Rodriguez, 09-2724

Lender's violation of automatic stay in bankruptcy proceedings

In re: Rodriguez, 09-2724, concerned a challenge to the district court's affirmance of a Bankruptcy Court's determination that Countrywide Home Loans, Inc. (Countrywide) did not have a pre-petition claim against the debtors and thus did not violate the automatic stay when it recalculated the debtors' post-petition escrow payments on their mortgage account to include certain pre-petition escrow arrears.