One law firm cashed in on initial public offering activity in June, leading the underwriters on 11 of the month’s 35 floats and championing four new issuers’ debuts — including one that had the largest first-day pop in roughly 18 months — as the month marked the busiest for IPOs since 2000.
China Petroleum & Chemical and Cnooc are among the companies interested in buying stakes in Brazilian oil company Petrobras, Montagu Private Equity moves toward unloading its prescription retail unit Centor in a potential $700 million deal and Interactive Data explores a possible sale or initial public offering that could value it around $5 billion.
Braskem SA's stock price was artificially inflated by bribes paid to Petrobras to ensure cheap raw material prices, investors said in a proposed class action filed Wednesday in New York federal court.
Distressed energy provider Puerto Rico Electric Power Authority said Wednesday that it will make a $415 million payment to cover the principal and interest on outstanding power revenue bonds and has obtained extensions on other outstanding debt.
The federal government asked a Wyoming federal court Wednesday to deny the Ute Indian Tribe's bid for a preliminary injunction in litigation over a controversial new hydraulic fracturing rule, saying any alleged injury to the tribe that could result from its implementation is speculative.
A Pennsylvania federal judge ruled Tuesday that drivers transporting water for hydraulic fracturing operations are not engaged in interstate commerce and can thus pursue collective actions over unpaid overtime under the Fair Labor Standards Act and Pennsylvania Minimum Wage Act.
Boomerang Tube LLC filed its Chapter 11 plan and disclosure statement on Tuesday, proposing to split the company in two and convert $214 million in term debt into equity and notes in the new companies.
Royal Dutch Shell PLC said Wednesday that it has approved construction of what would be the company’s eighth and largest floating platform in the Gulf of Mexico, the latest in a string of major developments in the area.
Oilfield services company Weatherford International Ltd. will pay $120 million to settle a securities class action alleging it misled investors about its financial condition leading up to a 2012 disclosure that it had overstated earnings and done the arithmetic wrong on its taxes, according to a proposed deal revealed Wednesday.
Toyota Motor Corp., Nissan Motor Co. Ltd. and Honda Motor Co. Ltd. said Wednesday they have agreed on the details of a plan to build hydrogen fueling stations in Japan as the companies look to steer the global automotive market toward fuel cell vehicles.
A West Virginia federal judge said Wednesday he’s likely to approve a $2.5 million deal that Freedom Industries Inc. reached in its Chapter 11 proceedings with creditors and the state Department of Environmental Protection, according to a news report.
The Commonwealth of Puerto Rico on Tuesday asked a New York federal judge overseeing multidistrict litigation alleging Shell Oil Co. and others polluted its groundwater with a gasoline additive methyl tertiary-butyl ether to reconsider dropping strict liability and negligence claims.
Less than a month after asking the Texas Supreme Court to remove it from multidistrict litigation in a royalty suit against Chesapeake Energy Corp. over oil and gas proceeds, the City of Fort Worth withdrew its petition Tuesday.
Coal miner JW Resources Inc. filed for Chapter 11 bankruptcy protection Tuesday, saying in court papers that “burdensome” regulations on the coal industry have decreased demand for the product and made the company’s operations too costly.
The U.S. Securities and Exchange Commission on Tuesday made an initial decision to revoke the registered securities of a nuclear power company just months after a former executive pled guilty to securities fraud, saying it had failed to timely file required periodic reports.
Coal mining outfit Murray Energy Corp. announced Wednesday that it has hit the U.S. Environmental Protection Agency with a lawsuit accusing the agency of overstepping its authority by expanding the scope of waters the federal government can regulate under the Clean Water Act.
Royal Dutch Shell PLC won't be able to conduct simultaneous drilling operations north of Alaska this summer as originally planned, according to Tuesday's U.S. Fish and Wildlife Service ruling that a minimum distance of 15 miles must be maintained between exploration drilling operations.
Unsecured creditors of Energy Future Holdings Corp. told a Delaware bankruptcy judge on Monday that the power giant must improve its program for dealing with asbestos-related injury claims, saying EFH's proposed bar date process threatens to harm creditors' rights.
The Oklahoma Supreme Court revived a woman’s suit Tuesday seeking to recover damages from two energy companies over an earthquake that injured her and damaged her home, saying personal injury suits belong in state district court.
A PMFG Inc. shareholder on Monday in Delaware Chancery Court challenged a “tainted” $150 million acquisition bid by CECO Environmental Corp., alleging the clean-energy equipment company sought advice on the deal from Jones Day and Ernst & Young LLP even though they both had conflicts of interest.
What's so striking about the U.S. Supreme Court's ruling in Michigan v. U.S. Environmental Protection Agency is its similarity to the court's ruling last year in Utility Air Regulatory Group, which struck down, in part, the EPA’s regulation of greenhouse gases under the prevention of significant deterioration program, says Thomas Wood of Stoel Rives LLP.
By making it clear that the Gazprom case fell to be determined by the Brussels I Regulation and without reference to the Recast Regulation, and by failing to take the opportunity to revisit West Tankers in light of the Recast Regulation, the EU Court of Justice avoided addressing the most controversial aspect of Advocate General Melchior Wathelet's opinion — and has undoubtedly created future problems for itself, say Serena Cooke a... (continued)
Whether on competition in the solar energy market, oversight of professional occupations or the safety of electronic payment systems, businesses should proactively engage with state attorneys general as they fulfill their consumer protection role, says Foley & Lardner LLP's Joseph Jacquot, a former Florida deputy attorney general and chief of staff of the attorney general’s office.
Indian tribes and their members are together the third-largest owner of domestic mineral resources, including oil, gas and coal. Until the federal review process is significantly streamlined and made more predictable, tribes will continue to have difficulty developing their resources, and potential private partners will be less inclined to make the necessary investments, say Ryan Smith and Teddy Tanzer of Brownstein Hyatt Farber Schreck LLP.
In legal marketing circles, there are few topics peddled about more than “hot tips” for improving your law firm’s website. Google it. You’ll find more advice than you could ever digest. However, there are larger trends in technology, culture and user behavior that are impacting firms in very significant ways and are not being talked about nearly as much as they should be, says Stephan Roussan, founder of consulting and web developm... (continued)
As oil and gas companies become increasingly leveraged in an effort to alleviate liquidity constraints, parties such as holders of second-lien debt and high-yield bonds will be front and center in negotiating a company’s restructuring plan — a process that will likely be contentious as they attempt to allocate unencumbered assets between them, say Raniero D’Aversa and Peter Amend of Orrick Herrington & Sutcliffe LLP.
Latin America is open for business and the world is taking notice. Foley & Lardner LLP partner Jeffery Atkin discusses which countries are actively taking on development projects in Latin America and how the culture is affecting their work there.
Over the past several months, the economics of the oil and gas industry have changed dramatically. With lower energy prices, so too have profit margins and working capital fallen, highlighting two often confused provisions of bankruptcy law that may potentially impact relationships with distressed companies — fraudulent transfers and preferences, say attorneys at Holland & Hart LLP.
The trial of former PetroTiger Ltd. CEO Joseph Sigelman came to an abrupt end last week after prosecutors agreed to a plea agreement that appears to include terms favorable to the ousted executive. The case garnered widespread interest in part because criminal Foreign Corrupt Practices Act cases are rarely tried — this was only the fourth FCPA prosecution in as many years to progress all the way to trial, say attorneys with Norton Rose Fulbright.
Greetings from the future! Ninety-five percent of Earth’s nourishment is supplied by food trucks, the Cincinnati Bengals just won their third consecutive Super Bowl, and the latest social media craze is the “reverse selfie” (taking pictures of other people). Also, my engineering law students from the Spring 2015 semester at Ohio State are now your tech clients. Their answers to two questions back in 2015 should help you serve them ... (continued)