Oklahoma-based law firm Phillips Murrah PC assisted an energy company at the heart of a U.S. Securities and Exchange Commission lawsuit with the theft of tens of millions of dollars through multiple Ponzi schemes, a proposed class action lawsuit filed by investors on Thursday in Ohio federal court said.
A proposed class action claiming Valero gas stations overcharge debit-card customers was ended Friday by a California federal judge who ruled the suit didn't establish links between the corporate parent and local station pricing.
The parent of oil field services company C&J Energy Services Ltd. has received the green light to tap $25 million of a $100 million debtor-in-possession financing package in its Chapter 11 case recently filed in Texas bankruptcy court.
Riverstone Holdings LLC-backed Silver Run Acquisition Corp. has acquired an 89 percent stake in Texas-based crude oil producer Centennial Resource Development LLC, the companies said Friday, giving Silver Run control of a company that has significant exploration and production operations in the Southern Delaware Basin.
A Panamanian ship company whose vessel is being held in San Francisco Bay to secure an allegedly forthcoming arbitral award has asked a California federal judge to free its boat and toss the case, saying the supposed Bahraini energy company that sued doesn’t exist.
Ameren Missouri has reached a $2 million settlement with the Sierra Club over alleged Clean Air Act violations by exceeding air quality standards at the company's Labadie, Meramec and Rush Island coal-fired power plants, the environmental group said Thursday.
A group of financial institutions that includes JPMorgan Chase Inc., Merrill Lynch Pierce Fenner & Smith Inc. and Citigroup Global Markets Inc. urged the Second Circuit on Thursday to toss out a class certification in a New York shareholder suit against Petroleo Brasileiro SA, saying that it's impossible to determine who is in the class.
The Federal Energy Regulatory Commission on Friday gave a preliminary thumbs-up to PennEast Pipeline Co. LLC’s proposed $1.6 billion gas pipeline, which is planned to run through New Jersey and Pennsylvania, saying that adverse environmental impacts from the project could be mitigated.
A Texas chemical company in a contract dispute with Caremoli USA Inc. sued the food ingredient manufacturer in Texas federal court Thursday, claiming it is owed more than $7.5 million for loan reimbursements and unpaid purchase orders tied to Caremoli’s failed effort to produce guar gum material used in hydraulic fracturing.
A bipartisan group of 40 senators on Thursday urged the Obama administration to bump up its proposed 2018 Renewable Volume Obligations for biomass-based diesel, saying an increase will boost jobs and diversify the country’s energy supply.
Officers of energy management technology company Comverge Inc. argued Thursday in Delaware Chancery Court that a stockholder suit with one remaining claim challenging its 2012 merger with HIG Capital LLC should end, saying the board did not breach its fiduciary duties by granting deal protections to the buyer.
The Fifth Circuit on Thursday reversed and remanded a Louisiana federal judge's decision that a pair of insurers owed Solstice Oil & Gas I LLC no coverage for a $12 million loss after a contractor shoddily drilled an oil well.
A Texas surveyor of oil and gas won its challenge to $3.2 million in income tax deficiencies when the U.S. Tax Court ruled Thursday that the company does not have to actually own the natural resource interests to claim survey expenses.
The state of Washington pressed a federal court Thursday to force the U.S. Department of Energy and its Hanford nuclear site contractor to take steps to protect workers from exposure to a “toxic soup” of chemicals released by underground storage tanks at the site.
Arbitrators hearing a case between a Canadian oil and gas driller and state-owned Bangladeshi energy companies have warned the country to get its courts in line, saying their efforts to overrule the arbitral tribunal “show a fundamental misunderstanding” of its authority.
New Jersey renewable energy company Ocean Power Technologies Inc. disclosed in a filing with the U.S. Securities and Exchange Commission last week that it has been subpoenaed by regulators in connection to a 2014 public stock offering, a deal that has already sparked shareholder litigation.
A Royal Dutch Shell PLC unit on Wednesday took its $1.2 billion tax recalculation dispute with the Philippines' Commission on Audit over the gas-to-power Malampaya project the company operates to a World Bank arbitration dispute body.
A West Virginia federal judge on Wednesday, after “painfully” reviewing U.S. Environmental Protection Agency documents, ordered a handful be disclosed to Murray Energy Corp. in a suit accusing the agency of failing to study how its air quality regulations impact jobs.
Disputes over countervailing duties on Chinese-made solar panels continued Wednesday as both a collection of Chinese companies and the U.S. company that had called for the duties in the first place filed complaints with the U.S. Court of International Trade challenging the Commerce Department’s latest rate redetermination.
China's Shenhua Group could merge with state-owned China General Nuclear to create a utility giant with $204 billion of assets, Engie plans to sell up to $4 billion worth of its upstream operations and Fresenius has hit a roadblock in its bid to acquire Pfizer's medical devices unit.
One of the most prevalent complaints by associates and recent law school graduates is the lack of meaningful mentoring by more seasoned attorneys. Gary Gansle, leader of Squire Patton Boggs LLP's Northern California employment law practice, offers several tips as a light that can help junior attorneys start down the right path in their career development.
LeBron James has established his worth by tangible metrics. He cashed in on a free agent bonanza fueled by the NBA’s economic model that supports his regal compensation. But such is not the case when it comes to first-year associate salaries of $180,000 at certain law firms and $2,000 an hour billing rates for certain partners, says Mark A. Cohen, founder of Legal Mosaic LLC.
No one understands the concept and obligations of “fiduciary duty” better than legal professionals — and yet, many law firm partners and principals may be overlooking a significant source of liability in their practices, says Tom Zgainer, CEO and founder of America’s Best 401k.
The proposed changes to the U.S. Fish and Wildlife Service's Eagle Act permitting program are likely to be welcomed by applicants. However, the amendments would introduce some uncertainty for holders of long-term permits, say Keith Garner and Khyati DalaI at Sheppard Mullin Richter & Hampton LLP.
A U.S. Securities and Exchange Commission proposal announced last week would require mining companies to publicly disclose extensive information — some of it proprietary and some forward-looking — which will raise important issues of confidentiality and liability, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
Before selling assets to generate additional cash flow owners of oil and gas interests must consider the federal income tax consequences. Among other intricacies, Elizabeth McGinley and Robert Jacobson at Bracewell LLP explain relevant federal income tax authorities that distinguish a leasing transaction from a sale and three common transfers of working interests that will constitute retained overriding royalty structures.
Solar developers must have a significant amount of equity in a project before the tax equity market will be interested. This creates demand for cash investors to help put in equity. Scott Cockerham of Chadbourne & Parke LLP discusses three financing structures that cash investors can use.
As traditional utility operations and ratemaking principles are being forced to change in light of technological advances and pressure from users, providers and commissions, the New York Public Service Commission’s Reforming the Energy Vision initiative introduces a framework for the role state electric utilities can play in the future, as energy markets transition to incorporate more distributed energy resources and employ third-p... (continued)
In rejecting the National Marine Fisheries Service’s latest biological opinion for the operation of the Federal Columbia River Power System, the U.S. District Court for the District of Oregon has presented a daunting challenge. The clear admonition from the court is for action agencies to consider drastic alternatives that might create a more realistic likelihood for survival and recovery of salmonid species, says Douglas MacDougal... (continued)
In the bankruptcy case of Energy Future Holdings, the Third Circuit rendered an opinion that shed additional light on the scope of “equal treatment” as it applies to preplan settlement offers. Deal makers in the circuit now arguably have more wiggle room to develop creative and nuanced settlement structures, says Prashant Rai of Weil Gotshal & Manges LLP.