Neil Gorsuch Sold Property to Head of a Major Law Firm | Canada News Media
Connect with us

Real eState

Neil Gorsuch Sold Property to Head of a Major Law Firm

Published

 on

Experts said that the justice’s disclosure of the sale, which came right after the justice’s appointment, did not violate the law but underscored the need for ethics reforms.

WASHINGTON — One month after Neil M. Gorsuch was appointed to the Supreme Court in April 2017, he and two partners finally sold a vacation property they had been trying to offload for nearly two years. But when he reported the sale the next year, he left blank a field asking the identity of the buyer.

County real estate records in Colorado show that Brian L. Duffy, the chief executive of Greenberg Traurig, a sprawling law firm that frequently has business before the court, and his wife, Kari Duffy, bought the property.

The buyer’s identity — and Justice Gorsuch’s decision not to disclose it — was reported earlier on Tuesday by Politico. Although experts said that the omission did not violate the law, they added that it underscored the need for ethics reforms given the intensifying scrutiny on financial entanglements at the Supreme Court and renewed calls by Democratic lawmakers for tightened rules.

ProPublica reported this month that Justice Clarence Thomas had not disclosed that he had repeatedly received free travel for lavish vacations and other purposes from a Republican megadonor, Harlan Crow, and that he had sold properties to Mr. Crow in Georgia.

Justice Gorsuch did not break the law by omitting the buyer’s identity, said Stephen Gillers, a New York University professor and specialist in legal ethics. Under a 1978 statute governing financial disclosures, federal judges are not required to disclose who bought property from them.

Gabe Roth, the executive director of Fix the Court, a nonpartisan group that presses for greater transparency and accountability by the justices, agreed that the omission did not violate the law. But he argued that Congress should pass legislation expanding what justices must disclose, including losses from any sales, the nature of partnerships that hold real estate and who buyers are.

Senator Richard J. Durbin, Democrat of Illinois who leads the Judiciary Committee, said in a statement that the panel planned to scrutinize potential ethics reform legislation for the Supreme Court.

“We have seen a steady stream of revelations regarding Supreme Court justices falling short of the ethical standards expected of other federal judges and of public servants,” he said. “The need for Supreme Court ethics reform is clear, and if the court does not take adequate action, Congress must.”

The Supreme Court press office did not respond to a request for comment from Justice Gorsuch.

Greenberg Traurig employs about 2,650 lawyers across 45 locations in the world and reported over $2 billion in revenue in 2021, according to its website.

A search of the Supreme Court docket on the legal research site Nexis returned more than four dozen cases involving lawyers from the firm from when Justice Gorsuch was appointed to the end of 2022, the latest date in the database. They included cases the court took up, petitions in which it declined to hear an appeal, and friend-of-the-court briefs submitted in cases in which the firm did not represent a litigant.

Mr. Duffy, who lives in Colorado, did not respond to an email from The New York Times. But he told Politico that he bought the property because he is a fly fisherman and that he has never argued before Justice Gorsuch or met him socially. He also said he did not know that the jurist had a stake in the property when he made his first offer.

It is not clear when that offer was made. The New York Times described the justice’s ownership in the property in a March 2017 article that detailed his ties to the billionaire Philip F. Anschutz.

Mr. Anschutz, a major conservative donor, lobbied Colorado’s lone Republican senator and the George W. Bush administration to nominate Mr. Gorsuch to an appeals court seat in 2006. The 40-acre property that Mr. Duffy eventually bought was another link between the jurist and the mogul.

In 2005, Justice Gorsuch had joined with two top lieutenants to Mr. Anschutz to form a limited liability company to acquire the land.

Calling themselves the Walden Group, they bought the property for $900,000, property records show, and built a 2,923-square-foot log house for fishing vacations. It included 2,000 feet on both sides of the Colorado River. The venture was structured as a time share, giving each partner a right to use it a certain number of days.

In 2017, a spokeswoman for Justice Gorsuch told The Times that he had contributed $360,000 to the Walden Group, giving him a 20 percent stake; the two lieutenants of Mr. Anschutz each contributed twice as much and owned 40 percent.

While Justice Gorsuch contributed the least money, county records directed any correspondence about the property to him at the federal courthouse in Denver.

In 2015, Justice Gorsuch and his partners began trying to sell the property. They originally listed it that July for $2,495,000, a real estate listing shows. They reduced the price several times before Mr. Duffy and his wife bought it in May 2017 for $1,825,000, county records show.

On his financial disclosure form the next year, Justice Gorsuch reported the transaction on the 56th line in the middle of 113 investment matters, most of which appeared to be stocks, bonds or dividends.

He was terse, writing “Walden Group LLC” in a column that sought a description of the asset, and he did not explain what it was or mention real estate. He valued the transaction from $250,001 to $500,000, and left empty a field asking him to list the “identity of buyer/seller (if private transaction).”

Justice Gorsuch did not report any income from the sale, and it appears that he about broke even on it.

Mr. Roth said the episode showed that justices should be required to be more forthcoming in their annual reports.

“There are examples of justices omitting these types of transactions, but even when they include them, the public has every right to know more about it,” he said. “It’s hard to do basic oversight without knowing who is on the other side of the transaction.”

Kitty Bennett contributed research.

 

Source link

Continue Reading

Real eState

Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

Published

 on

 

TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Real eState

Homelessness: Tiny home village to open next week in Halifax suburb

Published

 on

 

HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Real eState

Here are some facts about British Columbia’s housing market

Published

 on

 

Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending

Exit mobile version