Overseas Shipholding Group Inc. submitted a Chapter 11 plan Friday that envisions the oil tanker giant and its subsidiaries emerging from bankruptcy as a reorganized entity owned primarily by its largest lenders.
A Minnesota federal jury on Wednesday found an alternative energy company's CEO guilty on criminal counts including mail and wire fraud after federal authorities accused him of lying to investors in a fraud scheme that cost them between $2.5 million and $7 million.
Kinder Morgan Inc. was hit with a suit in Texas court Thursday by a shareholder who says the midstream giant mischaracterized capital expenses incurred by its pipeline unit in order to draw billions in cash distributions.
The decision of whether to approve the controversial Keystone XL pipeline now rests with the Obama administration after the public comment period wrapped up on Friday, but experts say the politically charged review process will make future cross-border pipeline permitting a lengthier, more publicized affair that could discourage all but the most patient and deep-pocketed of energy companies.
The Sixth Circuit nixed a suit accusing the U.S. Army Corps of Engineers of improperly granting Leeco Inc. permission to discharge coal-mining materials into Kentucky streams on Friday, finding that the agency had adequately considered the activity's public health impact before issuing the permit.
The U.S. Environmental Protection Agency on Friday floated new greenhouse gas reporting and confidentiality rules, issuing a proposal revising monitoring and data disclosure requirements for the petroleum and natural gas systems source category.
The owner of China’s Juneyao Airlines is in talks with Boeing and Airbus to clinch 20 planes in a deal that could be worth nearly $2 billion, while the likes of Blackstone and Bain Capital are eyeing up Northwestern Mutual Life Insurance Co.’s $3 billion indexing and management firm.
By ruling that BP PLC must continue dispensing payments from its $9.2 billion Deepwater Horizon deal to businesses that may not have been harmed by the spill, the Fifth Circuit sent a warning to companies negotiating large-scale settlement agreements: If you sign it, you're stuck with it.
Dorsey & Whitney LLP has added a geologist-turned-attorney with over 40 years of experience in the mining industry as a partner in its Toronto office to jump-start the firm's growing international mining and natural resources practice, Dorsey announced Thursday.
The Pennsylvania Commonwealth Court on Friday said it lacked jurisdiction over a series of suits that an oil and gas industry services provider brought against three municipalities alleging that their seismic testing ordinances violated the state’s recent high-profile legislation regulating gas drilling.
A male in-house counsel once told me I had not been "nice" to him when I approached him about a business opportunity and would therefore not get the business. To add insult to injury, one of my male partners told me I should be flattered by the interest paid to me by the in-house counsel, says Paulette Brown, chief diversity officer at Edwards Wildman Palmer LLP.
Several people have told me that they had a lot of trepidation when they found out they would be working for a woman. To be effective, you need to be able to eliminate or address the conscious or unconscious bias colleagues may have about having a female boss, says Nancy Mitchell, chairwoman of Greenberg Traurig LLP's New York business reorganization and financial restructuring practice.
RES has become the latest U.K. biomass power producer to drop plans for a power station after citing issues with uncertain U.K. energy policy, announcing Thursday that it has stopped work on a £300 million ($502 million) biomass power station project in northern England.
New Jersey-based Public Service Enterprise Group Inc. on Friday said it would spend $12 billion on capital investments over the next five years, with the bulk of that cash going to its main utility unit so it can increase transmission investments in order to maintain grid reliability.
In this week's Taxation With Representation, Pennsylvania is the center of the M&A universe thanks to deals advised by Weil Gotshal, Reed Smith and Wachtell Lipton Rosen & Katz.
Malaysian state hydrocarbon developer Petronas will sell 10 percent of its British Columbia LNG assets to India Oil Corp. Ltd, the companies said Friday.
Bankrupt oil services company Green Field Energy Services Inc. said Thursday that it would go with a Gordon Brothers Group LLC affiliate's stalking-horse bid and sell some equipment in a deal that would give the debtor $50 million up front and the first $17.5 million of any proceeds afterwards.
Reed Smith LLP said Thursday that a member of its financial industry group will serve as the new office managing partner in its Princeton, N.J., location, which specializes in financial services and life sciences, data security, energy, real estate and aviation practices.
Duke Energy Progress Inc. must take immediate action to stop groundwater contamination caused by its 14 North Carolina power plants, a state judge ruled on Thursday, finding that a state environmental commission had misinterpreted a regulation pertaining to coal ash ponds.
The U.S. Environmental Protection Agency is committed to rolling out regulations for coal-fired power plants later this year that will reduce carbon emissions without threatening energy reliability or impairing the industry’s ability to turn a profit, the agency’s head regulator said Thursday at a Texas energy conference.
A group of New York landowners recently filed a petition seeking to compel the state government to issue its final impact statement on the effects of fracking, after more than five years of waiting. Despite the lawsuit, the wait for an answer on fracking in New York will likely continue, and for those outside New York waiting to hear about the environmental and health effects of fracking, the wait may prove to be even longer, says Emily Pincow of Weil Gotshal & Manges LLP.
Cloud users must know how to use the cloud responsibly to prevent later difficulties with document production. When negotiating a cloud service agreement, users should look for certain services that will prove useful when responding to discovery requests, such as comprehensive search options, instant suspension of the auto-delete function, and preservation of metadata and embedded data, say attorneys with Sidley Austin LLP.
The First Circuit's recent decision in In re Munce’s Superior Petroleum Products Inc. is consistent with other circuits in concluding that noncompensatory environmental fines should receive administrative priority under the Bankruptcy Code. The decision, however, is at odds with other courts that have addressed the treatment of prepetition violations that result in post-petition penalties, say attorneys at Lowenstein Sandler LLP.
The recent bribery case involving Kurt Hammarskjold, a former PetroTiger Ltd. CEO, underscores the U.S. Department of Justice’s continued commitment to prosecuting individuals for Foreign Corrupt Practices Act-related offenses. In fact, 2013 saw the highest number of individual enforcement actions since 2010, and the Hammarskjold prosecution and other recent actions indicate that the DOJ will continue this upward trend, say attorneys with Norton Rose Fulbright.
With experts predicting that train derailments involving oil spills may increase over the next decade, the insurance industry must be prepared to address this new coverage threat. While first-party property coverage may respond to these spills, the largest insurance coverage claims may arise from third-party liability insurance related to the cleanups and bodily injuries — and, based on their damage policy limits, exhaustion could occur quickly, says Seth Jackson of Zelle Hofmann Voelbel & Mason LLP.
On Wednesday, the U.S. Supreme Court heard oral arguments in Halliburton v. Erica P. John Fund and will soon decide on "injury presumed" reasoning applied in the context of securities class actions. If the court eliminates the only federal construct for presuming injury and reliance in class actions, it will be difficult to argue that similar presumptions accurately reflect transactions in the markets for everyday consumer goods, say Andrew Tuck and Kristen Bromberek of Alston & Bird LLP.
In stark contrast to the changing environment for the majority of lawyers today, the evolution for the general counsel is driven less by necessity than by opportunity. Today’s GC may touch every aspect of his or her organization to solve challenges and propel the company forward, keeping the GC far ahead of what is expected of the average lawyer, says James Merklinger, vice president and general counsel of the Association of Corporate Counsel.
The U.S. Environmental Protection Agency's recent guidance on diesel fracking has prompted cheers from environmentalists and fears from industry that it portends agency enforcement for past failures to obtain permits. But a review of the guidance’s statutory, scientific and policy context suggests that neither view is correct, says Bernadette Rappold of McGuireWoods LLP.
Commercial courtrooms in London are bustling with foreign litigants. England has many of the advantages of the U.S. system — like robust interim orders — without some of the U.S.’s distinct procedural disadvantages. And in addition to simplified discovery, litigating in England allows U.S. litigants to avoid punitive cost rules and the sometimes arbitrary verdicts of juries, say Ben Holland and Arielle Goodley of Covington & Burling LLP.
In a recent case of first impression, the Federal Energy Regulatory Commission confirmed its jurisdiction over — and its intention to regulate — the economic and operational aspects of the interstate pipeline transportation of purity liquid ethane. In light of the burgeoning development of ethane infrastructure, FERC’s use of the Interstate Commerce Act represents additional supervision and cost to the transportation of purity liquid ethane, say David Wochner and Sandra Safro at K&L Gates LLP.