A New York federal judge tossed an $84 million tax refund suit lodged by Hess Oil Virgin Island Corp. against the U.S. Virgin Islands on Thursday, ruling that the Virgin Islands do not qualify as the United States in light of its “unique” tax structure.
A Delaware bankruptcy judge gave Molycorp Inc. the green light for $22 million in much-needed financing on Thursday, allowing the rare-earth company go with a interim debtor-in-possession loan from secured creditor Oaktree Capital Management LP rather than a competing financing package offered by bondholders.
BP Exploration & Production Inc.'s $18.7 billion global settlement Thursday caps a five-year court battle over the deadly 2010 Deepwater Horizon explosion. Here's a timeline of the case that fell just short of the U.S. Supreme Court and ended in the largest environmental settlement in U.S. history.
Despite the magnitude of Thursday’s $18.7 billion settlement that ends most of the litigation over BP Exploration & Production Inc.’s liability in the Deepwater Horizon disaster, experts say the company could have been hit even harder had the overseeing judge been able to hand down a penalty of his own.
The Federal Circuit on Thursday threw out about $100 million of a $124 million damages award that oil field services provider Schlumberger Ltd. won in a patent suit against rival Ion Geophysical Corp., ruling that lost profits cannot be awarded for damages resulting from contracts performed abroad.
Oklahoma’s attorney general on Wednesday filed suit against the U.S. Environmental Protection Agency, alleging that its Clean Power Plan is an abuse of power that, despite a D.C. Circuit court’s ruling, can’t wait until its final stage to be stopped.
Wolf Hollow I LP cannot recover damages from a contract dispute with El Paso Marketing LP over the supply of natural gas to an electric generation facility in Texas, a Houston appeals court ruled Thursday.
Private equity-backed Platinum Power SA, a Moroccan renewable energy company, said Wednesday it has reached a deal with the Cameroonian government to build a 500 billion CFA franc ($844.9 million) hydroelectric power plant in the country’s Centre Region.
Environmental groups asked a Washington state judge Thursday to vacate the Port of Seattle’s lease approving a home port for Royal Dutch Shell PLC’s Arctic drilling fleet, saying it doesn’t meet the exemptions to bypass public hearings and an environmental review.
The Navajo Nation has named water rights and infrastructure as its top two concerns after a meeting of its branch chiefs and the 23rd Navajo Nation Council, the tribe’s leaders announced Wednesday, raising the possibility of establishing property taxes in the face of a budget shortfall.
The U.S. government's Oil Pollution Act claims against two industrial corporations will head to trial, after a Texas federal judge denied dueling summary judgment bids Tuesday in the suit over a barge's oil spill.
The U.S. Nuclear Regulatory Commission announced it is reviving the long-suspended environmental review process for a California nuclear power plant’s license renewal, requesting public comment on the planned environmental impact statement.
A New York appeals court on Thursday rejected Proskauer Rose LLP’s bid to dodge a malpractice suit alleging that faulty legal advice triggered a more than $255 million tax liability for Overseas Shipping Group Inc., finding the oil tanker company had sufficiently pled a valid claim.
TransCanada Corp. has continued pushing the U.S. Department of State to speed up its review process for the cross-border Keystone XL pipeline, telling the department that recent commitments by the Canadian government and others to cut carbon emissions only further the pipeline’s cause.
Coming off a robust 2014, corporations kicked up their buying spree again in the first half of 2015, led by deal-hungry health care and pharmaceutical companies and buoyed by cheap financing that has fueled the mergers and acquisitions boom to its highest level in eight years.
Two energy industry groups say that an exemption to a U.S. Fish and Wildlife Service rule protecting the northern long-eared bat should apply to oil and gas activities if it applies to the timber industry, and urged the agency to amend its decision.
Swedish construction giant Skanska AB said Thursday it has signed a $255 million contract with an electric power development and asset management company to build a new 675-megawatt, natural gas fired power plant in New York.
BP Exploration & Production Inc. on Thursday reached an $18.7 billion global settlement — the largest in U.S. history — over its role in the 2010 Deepwater Horizon disaster, a deal that follows the company’s failure to convince the U.S. Supreme Court to reconsider its liability under the Clean Water Act.
Petitioners seeking an en banc rehearing of a judgment partially upholding greenhouse gas rules will actually experience further harm if they get what they want, the U.S. Environmental Protection Agency told the D.C. Circuit on Wednesday, saying the petitioners lack standing.
An investor in Williams Cos. Inc. launched a class action Wednesday in Delaware Chancery Court, claiming the energy giant brass' resistance to a takeover attempt by Energy Equity Transfer LP’s valued at $53 billion and refusing other ideas would harm shareholders.
Thirteen years after releasing an initial draft and two years after issuing a draft for public comment, the U.S. Environmental Protection Agency at last released its final vapor intrusion guidance document, though how the guidance will be used — or misused — in environmental and tort litigation is uncertain, say attorneys at McGuireWoods LLP.
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.