Investors in Baker Hughes Inc. launched two similar putative class actions Wednesday in Delaware and Texas trying to halt the company's proposed $34.6 billion merger with Halliburton Co., arguing the board approved the deal at too low a price to avoid a proxy battle and their possible ouster.
Efforts to build New Jersey's first offshore wind farm have shifted back to appellate court now that state regulators have again denied the project, but developer Fishermen's Energy LLC faces a difficult task in overcoming the deference afforded to administrative agencies and showing that the rejection was unreasonable.
Venezuelan subsidiaries of ConocoPhillips this week alleged in Texas state court that Venezuela’s state-run oil company Petroleos de Venezuela SA is secretly liquidating its U.S. assets in Citgo Petroleum Corp. in a bid to avoid paying expected international arbitration awards.
A Texas appeals court on Wednesday rebuffed a plea for attorneys' fees from Wheelabrator Air Pollution Control Inc. in a contract dispute alleging that the city of San Antonio owed money to two industrial contractors, finding that the city public service board had governmental immunity.
A Louisiana oil and gas exploration company asking the U.S. Supreme Court to hear its arguments against the government’s addition of new oil spill response requirements to its drilling lease got backup from industry and libertarian groups, who filed amicus briefs on the company’s behalf.
Twenty-six companies — including two real estate investment trusts, three master limited partnerships and six private equity-backed companies — went public to raise $7.2 billion in November so far, with Latham & Watkins LLP leading the pack as counsel on eight offerings.
The U.S. Environmental Protection Agency’s stricter national ozone standards unveiled Wednesday will be a heavy regulatory lift for state and local governments to implement and may energize Congress to require the agency to consider the costs of its air quality regulations, experts say.
Wachtell Lipton Rosen & Katz told a New York judge on Monday that CVR Energy Inc.’s counterclaim in the law firm’s suit fighting back CVR's federal malpractice allegations over Carl Icahn’s $2.6 billion takeover of CVR is barred by earlier rulings.
Energy Future Holdings Corp. has agreed to forgo a $6.4 million judgment against the Sierra Club in a deal that will resolve all of the environmental group’s pending and threatened litigation over alleged Clean Air Act violations at the company's coal plants, according to documents filed in Delaware bankruptcy court.
Bankrupt Freedom Industries Inc., whose January chemical spill is blamed for contaminating drinking water for 300,000 West Virginia residents, told a bankruptcy court Tuesday that its settlement with AIG Specialty Insurance Co. over coverage for the spill has been tied up by objections and delays.
A National Labor Relations Board judge ruled Tuesday that Phillips 66 violated federal labor law during the course of a union organizing campaign at a California refining facility, finding the company threatened employees and unfairly restricted workers from talking to the media.
The Committee on Foreign Investment in the U.S. handed over 3,487 pages of documents from its review of Ralls Corp.'s planned purchase of an Oregon wind farm, according to a Tuesday court filing, an unprecedented turn in an ongoing dispute over the agency's rejection of the deal.
The Colorado Oil & Gas Association has filed a lawsuit in Colorado state court seeking to invalidate the city and county of Broomfield’s hydraulic fracturing ban, arguing a moratorium on the controversial oil and gas extraction process passed by referendum in 2013 is superseded by state law.
The U.S. Environmental Protection Agency on Wednesday unveiled stricter new outdoor air quality standards for ozone that could carry billions of dollars in compliance costs, proposing to drop acceptable levels from 75 parts per billion to between 65 and 70 parts per billion.
A Delaware Chancery judge on Tuesday threw out derivative claims that Sanchez Energy Corp. overpaid in an allegedly inside $100 million deal for oil and gas rights to the Tuscaloosa Marine Shale, ruling the suing shareholders didn’t make a pre-suit demand on the board nor show why they couldn’t.
A Texas jury on Monday cleared Norway-based Petroleum Geo-Services Inc. and its American subsidiary of allegations that it fired an attorney for age discrimination in a case that had once accused the company of firing the man for reporting company fraud.
A New York state jury has found in favor of KeySpan Gas East Corp. in its coverage dispute with Century Indemnity Co. over cleanup costs for polluted manufactured gas plant sites on Long Island, concluding that KeySpan's predecessor provided timely notice to the insurer, according to court documents made public Tuesday.
The U.S. Supreme Court’s surprising decision Tuesday to review the U.S. Environmental Protection Agency’s landmark rule limiting mercury and other toxic emissions from coal- and oil-fired power plants signals increased skepticism over the agency’s regulatory reach, and a reversal could limit the rule-making reach of the EPA and other federal regulators, experts say.
A split Second Circuit ruled Tuesday that Chesapeake Energy Corp. couldn’t call back and refinance $1.3 billion in bonds because it moved too late to notify investors, saying the indenture governing the bonds clearly laid out redemption period deadlines.
The CEO of bankrupt energy investment holding company Ampal-American Israel Corp. sued bondholders in New York bankruptcy court on Monday claiming their "immoral, unconscionable conduct" in defaming the company and its leaders stalled a key ethanol project and drove the company toward insolvency.
Since the D.C. Circuit’s vacatur of the Federal Energy Regulatory Commission's demand-response rule in Electric Power Supply Association v. FERC last May, the legal status of demand-response participation in the wholesale energy and capacity markets has been hotly debated — the only matter that is certain is the lack of certainty, say attorneys at Cadwalader Wickersham & Taft LLP.
John Doar ran the U.S. Justice Department's Civil Rights Division at perhaps the most chaotic and pivotal time in its history. His passing earlier this month is an occasion for lawyers everywhere to marvel at just how impactful one attorney can be. He didn’t just preside at a historic time, he calmly and coolly shaped it, says Kevin Curnin of the Association of Pro Bono Counsel.
Protection of the Gunnison Sage Grouse under the Endangered Species Act in accordance with a recent announcement by the U.S. Fish and Wildlife Service will require a restriction of oil and gas development, including the closure of roads during nesting season and cessation of machinery operation, says Richard Stilwell of Baker & Hostetler LLP.
The initial legal question surrounding the Obama administration's Clean Power Plan is whether long-standing principles of federalism allow the U.S. Environmental Protection Agency to compel states to enforce a federal program like it — legal precedent establishes that the EPA cannot, say Scott Oostdyk and Duncan Getchell Jr. of McGuireWoods LLP.
Despite the significant tilt toward technology in how litigation is now conducted, many senior lawyers still delegate tech-related issues to e-discovery specialists or associates at their firms. This is a missed opportunity not just for client development, but also for shaping the way the firm and lawyer are seen in the eyes of corporate counsel, says legal industry business development specialist Jenn Topper.
The Halliburton-Baker Hughes merger agreement is an illustrative example of various antitrust risk-shifting mechanisms. Meanwhile, Halliburton’s agreement to pay a substantial breakup fee could be an indication that it is confident the deal can secure antitrust clearance, says Dionne Lomax of Mintz Levin Cohn Ferris Glovsky and Popeo PC.
Norman Bay's dissent over Emera CNG LLC's proposed compressed natural gas facility in Florida may signal a split inside the Federal Energy Regulatory Commission — if Bay's interpretation of Section 3 of the Natural Gas Act becomes the majority view then FERC could exercise jurisdiction over a class of facilities previously deemed exempt, say James Bowe Jr. and William Rice of King & Spalding LLP.
Institutional investors are increasingly interested in Europe's Projects of Common Interest, however, due to constraints, regulatory adaptation will be required to allow private investors to invest directly into transmission system operators in many jurisdictions, says Tomas Gardfors of Norton Rose Fulbright.
Our estimates indicate that some law firms spend up to $8,000 per attorney each year on print-related costs. Although we live in a digital world, hard copy printing will remain an important part of business for years to come. Changing technology, however, offers opportunities to improve efficiencies and save money, say Senthil Rajakrishnan and Ryan Mittman of HBR Consulting LLC.
Despite fundamental differences among "projects of common interest" in Europe's energy market, they face similar challenges in the form of cross-border cooperation, regulatory alignment and asymmetric impacts on EU member states, says Tomas Gardfors of Norton Rose Fulbright.