The liquidation trustee for the estate of Getty Petroleum Marketing Inc. has filed an adversary complaint against the men who purchased the company from a unit of OAO Lukoil for $1 in 2011, claiming the buyers drained $6.5 million from the company mostly to line their own bank accounts.
An attorney for oil drilling equipment holding company Gulfco Holding Corp. told a Delaware bankruptcy judge Wednesday that the company filed for Chapter 11 protection in a bid to negate a lender takeover of its nondebtor operating affiliate Gulf Coast Machine & Supply Co.
An oil and gas industry group is challenging newly passed hydraulic fracturing restrictions in two Colorado cities, lodging complaints in state court Tuesday arguing that the measures banning the practice for at least five years are superseded by state energy regulations.
A PVR Partners LP investor filed a class action in Pennsylvania federal court Tuesday, alleging that PVR's proposed $5.6 billion merger with competitor Regency Energy Partners LP is inadequate and unfair, and that the companies intentionally misled shareholders to get their approval for the deal.
Bankrupt GMX Resources Inc. sued an Oneok Partners LP unit in Oklahoma bankruptcy court Friday, claiming the unit's decision to stop the agreed-upon transport of gas from GMX's wells in North Dakota could cost the company $1.35 million a month in oil and gas revenues.
Fisker Automotive Holdings Inc. filed for Chapter 11 bankruptcy late Friday in Delaware with plans to turn around a private sale to a unit of Hybrid Technology LLC, which the same day purchased the electric-car maker's defaulted multimillion-dollar loan arranged by the U.S. Department of Energy.
Public Service Electric & Gas Co. reneged on a deal to pay Vision Impact Corp. for energy saving equipment installed back in 1995, causing $2.5 billion in damages, according to a complaint filed Friday in New Jersey federal court.
Bankrupt Overseas Shipholding Group Inc. filed an adversary complaint Monday accusing former counsel Proskauer Rose LLP of malpractice for allegedly giving the oil tanker company faulty advice it claims saddled it with hundreds of millions of dollars of “completely avoidable” tax liability.
A putative class of shareholders in a unit of Plains All American Pipeline LP filed suit in Texas federal court Friday against the pipeline transporter, alleging the company's $1.4 million proposal to buy out one of its units valued the company unfairly.
Bankrupt oil and gas producer GMX Resources Inc. launched a suit Wednesday claiming Emerald Oil Inc. breached a confidentiality agreement by using information it obtained as a potential bidder in GMX's Chapter 11 sale to snap up a mineral lease in North Dakota.
A putative class of North Dakotans who say a ConocoPhillips Co. unit illegally flared gas to avoid paying them royalties on it is taking their case federal, according to a notice filed Thursday.
A Texas natural gas company filed a lawsuit in Texas state court Friday claiming Chesapeake Exploration LLC violated the terms of a lease agreement letting Chesapeake drill in the Barnett Shale by plugging up wells and allowing some leases to lapse due to inactivity.
A looming challenge to New York's fracking moratorium serves as a signal to the drilling industry that landowners sitting on gas-rich real estate are not ready to give up, but environmentalists said Wednesday that the would-be plaintiffs' struggle to fund the offensive was a sign that their claims were weak.
A Nevada-based firm selling purportedly fuel-saving products was hit with a lawsuit Friday by U.S. consumer protection regulators claiming that "EnviroTabs," a tablet product the firm advertises as boosting fuel efficiency, does nothing of the sort.
The New Jersey Solar Grid Supply Association has sued the state Board of Public Utilities, accusing it of incentivizing companies to invest in solar energy projects before enacting a law that caused them to lose millions of dollars.
The federal government launched suit Wednesday in New Jersey federal court against more than 50 major companies, including Bristol-Myers Squibb Co., Exxon Mobil Corp., GlaxoSmithKline LLC, and The Dow Chemical Co., to recover cleanup costs for an industrial waste landfill, a Superfund site, in New Jersey.
A whistleblower suit unsealed Tuesday claims Michigan-based public utility Consumers Energy Co. defrauded its customers, the U.S. and Michigan of more than $4 billion by falsifying the amount of electricity sold and delivered to residential, commercial and industrial consumers.
Ecolab Inc. was sued in Texas state court Tuesday by a group of former Permian Mud Service Inc. shareholders who say the sanitation and pest control company ignored income allocation terms of a $2.2 billion merger agreement, increasing their share of tax liability by $15 million.
Illinois Attorney General Lisa Madigan sued a Koch Industries Inc. unit for alleged air pollution violations Monday, claiming dust from piles of oil refinery waste at a site owned by the company is blowing into neighborhoods on Chicago’s southeast side.
Enova Energy Holdings LLC and its affiliates were hit with a breach of contract suit Thursday in Florida federal court over an unpaid balance of $1.45 million on a Florida-based company’s sale of its interest in power plants.
Before a landowner grants an oil & gas lease to a lessee, he should carefully consider some key provisions to protect himself and to maximize economic benefit. For example, always make sure the provisions do not permit the primary term of the lease to extend beyond the stated period absent production, drilling or other operations, say attorneys at Greenberg Traurig LLP.
The U.S. Securities and Exchange Commission has generally not concerned itself with improper conduct involving embargoed countries. But the SEC’s complaint in the recent Weatherford International Ltd. case suggests that the agency takes the position that inaccurate accounting of transactions with embargoed countries can result in violations of the Exchange Act, say attorneys with Ropes & Gray LLP.
A recent Federal Energy Regulatory Commission order will permit Rockies Express Pipeline to enter into transactions to transport shale gas east to west within its easternmost zone without triggering a rate reduction for its foundation and anchor shippers. Rockies Express’ ability to enter into such transactions will provide a new source of gas supply for Midwestern markets and an attractive outlet for Marcellus and Utica production, say attorneys with Van Ness Feldman LLP.
What is the thinking as to whether leaky air conditioner cases warrant multidistrict litigation treatment? On Dec. 5, the Judicial Panel on Multidistrict Litigation heads to Vegas to find out. This will bring a temperature shift in more ways than one from the September hearing, where the panel considered a potential MDL proceeding arising from allegedly defective clothes dryers, says Alan Rothman of Kaye Scholer LLP.
In addition to continued headline-grabbing litigation involving pharmaceutical companies in the wake of PLIVA Inc. v. Mensing, 2013 brought a number of important cases informing everything from class certification questions and product labeling trends to False Claims Act liability and fracking disputes, say attorneys at Weil Gotshal & Manges LLP.
Because Latin American countries differ substantially from one another, there is no effective one-size-fits-all approach to anti-corruption compliance in the region. That said, companies doing business in the region should be aware of a number of recurring compliance concerns that may lead to an increased risk of violating the FCPA or other applicable anti-bribery laws, say attorneys with Debevoise & Plimpton LLP.
The connection between Houston, Texas, and Philadelphia for value-added energy- and refining-related activity is palpable. Companies like Shell, Chevron, ExxonMobil and many others with a strong Houston presence are connecting to Pennsylvania, and we are just seeing the tip of the iceberg, says Michael Krancer of Blank Rome LLP.
Simply put, older cases interpreting the former version of section 1441 of the U.S. Code are no longer good law. A defendant confronted with a general maritime law tort claim should give serious consideration to removing the claim to federal court under the “original jurisdiction” clause of section 1441(a), says Brian Schneider of Moran Reeves & Conn PC.
Two considerations stand out regarding the Iran nuclear agreement's effect on sanctions. First, the agreement does not provide detail about suspension of sanctions or even identify measures to be suspended. Second, agreement commitments to relax sanctions measures will only be effective if, when and to the extent that they are implemented in U.S. and EU law, say Harry Clark and Clark McFadden of Orrick Herrington & Sutcliffe LLP.
A new law in Mongolia dramatically alters the investment landscape in the country, eliminating the broad restrictions on private foreign investment in the minerals, communication and financial sectors that previously existed, removing the parliament from the approval process, and ending the distinction between foreign and domestic investors, says Stewart Diana of DLA Piper LLP.