Project Finance

  • July 31, 2015

    Vermont Gas Penalized For Delay In Reporting Cost Increase

    Vermont Gas Systems Inc. will have to pay a $100,000 civil penalty for holding off on reporting that its budget for a natural gas pipeline project had swollen to $154 million, climbing about 77 percent in a span of a few months, according to an order from the state’s Public Service Board.

  • July 31, 2015

    Calif. Court Says State Can Keep $11M Of City Bond Funds

    A California appeals court on Thursday upheld a trial court's ruling that the California Department of Finance can withhold $11 million in bond funds the city of Petaluma's redevelopment agency had earmarked for an infrastructure project before the state dissolved redevelopment agencies.

  • July 31, 2015

    USDA To Provide Rural Broadband Loans Under Farm Bill

    The U.S. Department of Agriculture could soon start up a rural broadband loan program, after announcing on Thursday the parameters for the plan, intended to increase broadband service in rural areas.

  • July 31, 2015

    ETP, Sunoco, Phillips 66 Team Up On Gulf Coast Pipeline

    Energy Transfer Partners LP, Sunoco Logistics Partners LP and Phillips 66 have created a joint venture to construct a crude oil pipeline that will connect terminals in eastern Texas and southwestern Louisiana, the companies said Thursday.

  • July 31, 2015

    Oneok To Invest $100M To Expand Texas Gas Pipeline

    Midstream master limited partnership Oneok Partners LP said on Thursday that it will invest up to $100 million to increase the output of its natural gas pipeline in western Texas.

  • July 31, 2015

    Alliant Sews Up $145M Sale Of Minn. Utility Service Systems

    Alliant Energy Corp. on Friday wrapped up the $145 million sale of its electricity and gas distribution businesses in Minnesota, saying it's finalized the sale of the electricity unit to a coalition of 12 electric service cooperatives.

  • July 30, 2015

    San Francisco Can't Sue DOT Over Gas Blast, 9th Circ. Says

    San Francisco is not authorized to sue the U.S. Department of Transportation on claims the agency failed to enforce natural gas pipeline safety rules that led to a deadly 2010 explosion, the Ninth Circuit said Thursday, affirming a lower court.

  • July 30, 2015

    Senate OKs Highway Bill, Emergency VA Funding

    The U.S. Senate on Thursday passed a long-term highway funding bill, alongside a three-month patch also including emergency veterans’ health care funding, buying time to negotiate a bicameral compromise bill that could be funded through proposed corporate tax reforms.

  • July 30, 2015

    V&E Adds Ex-Bracewell Partner To Energy Transactions Team

    Vinson & Elkins LLP this week strengthened its energy transactions team in Houston with the addition of a partner from Bracewell & Giuliani LLP, the firm announced on Thursday.

  • July 30, 2015

    Calif. Officials Ignored Fracking Effects Study, Enviros Say

    The Center for Biological Diversity on Thursday urged a state judge to block California oil and gas regulators from issuing hydraulic fracturing permits, claiming they ignored a state-ordered study that found some chemicals used in the controversial drilling technique may be harmful.

  • July 30, 2015

    Shell Nets $1.4B In Sale Of Japanese Downstream Biz Stake

    Japanese-based oil refiner Idemitsu Kosan Co. Ltd. has agreed to pay roughly 169 billion yen ($1.4 billion) for a 33.24 stake in Royal Dutch Shell PLC-owned Japanese energy company Showa Shell Sekiyu KK, the companies said on Thursday.

  • July 30, 2015

    One Firm Dominates Recent Stadium Financing Deals

    One law firm has grabbed work on myriad stadium financing matters in the past year as teams increasingly look to upgrade their existing facilities, build new stadiums or relocate to a new U.S. market altogether.

  • July 30, 2015

    Shell To Cut Workers, Investment As Oil Prices Stay Low

    Royal Dutch Shell PLC said on Thursday that it plans on cutting jobs, reducing investment and looking into selling off assets amid a fall in profit and months of depressed oil prices.

  • July 30, 2015

    Bill Would Boost Immigrant Investors, Startup Founders

    Two Democratic representatives introduced a jam-packed bill Wednesday that would create new ways for startup founders to get green cards and would permanently authorize the regional center program for EB-5 immigrant investors.

  • July 30, 2015

    Miami Tunnel Workers Say They Were Denied Overtime Pay

    A putative class of construction workers who helped build the Miami Tunnel project that created direct highway access to PortMiami filed a Fair Labor Standards Act suit in Florida federal court Wednesday alleging Bouygues Civil Works Florida Inc. owes them overtime pay.

  • July 30, 2015

    Ex-Im's End May Move Boeing Operations Abroad: Chairman

    Boeing Co.'s chairman on Wednesday slammed Republican lawmakers for continuing to stymie the reauthorization of the Export-Import Bank of the U.S. and said his company will consider moving certain parts of its business abroad if the embattled export credit agency continues to languish.

  • July 30, 2015

    Insurer Must Defend Mayor, Not City In $11M Stadium Spat

    An Illinois federal judge on Wednesday let OneBeacon America Insurance Co. off the hook from defending the city of Zion in a suit over the city's failure to build a minor league baseball stadium, but said the insurer must defend two city officials.

  • July 29, 2015

    What Lawyers Can Learn From Boston's Failed Olympics Bid

    Boston's failed bid to host the 2024 Summer Olympics is a cautionary tale for attorneys working on big public-private partnerships and other deals that require popular support, especially when taxpayers are asked to shoulder significant financial risks.

  • July 29, 2015

    Changes Afoot In Final Version Of Clean Power Plan

    Though the core carbon emission reduction goals of the Clean Power Plan aren't expected to change when the final version of the regulations is released shortly, reports that the Obama administration will push back compliance deadlines for states signal it's contemplating some significant tweaks to the original proposal.

  • July 29, 2015

    House OKs $8B For Highways, $3B For VA In Short-Term Fix

    The U.S. House of Representatives passed a short-term, $8 billion highway funding patch Wednesday that also authorizes $3.35 billion in funding for health care for military veterans, as the Senate moved forward again with its own long-term highway bill.

Expert Analysis

  • Ex-Im Bank Closes And The Path Forward Is Challenging

    David T. Ralston

    In the wake of the U.S. Export-Import Bank’s closure stakeholders and politicians on all sides of the debate have been contemplating what the absence of the bank means for American exporters, say David Ralston and Anna Ross at Foley & Lardner LLP.

  • UPenn Fracking Study Can't Give Plaintiffs Causation

    Harry Weiss

    Despite the media attention surrounding a recent University of Pennsylvania study linking increased hospital visits for cardiac and neurological complaints with hydraulic fracturing, it is unlikely to significantly help plaintiffs looking to establish causation, say Harry Weiss and Philip Yannella of Ballard Spahr LLP.

  • Understanding Pre-Award Interest Rates In Arbitration

    Dan Harris

    Pre-award interest rates in international arbitration can lead to very significant differences in final award amounts, yet the debates on interest often reveal misunderstandings about the economic fundamentals, say principals of The Brattle Group Inc.

  • Fracking Risks To Secured Oil And Gas Lenders

    Matthew D. Clark

    The biggest legal and regulatory challenges for oil and gas industry participants and their lenders relate to the hot-button issue of hydraulic fracturing, where a number of recent developments put credit risk front and center. A lender could easily find itself with a borrower unable to pay and collateral that evaporated, say Matthew Clark and Colin Deihl of Faegre Baker Daniels LLP.

  • Screened Selection In Party-Appointed Arbitrations

    Charles B. Rosenberg

    The International Institute for Conflict Prevention & Resolution's screened selection process for party-appointed arbitrators is a simple compromise between the positions of those who believe the existing system of party appointments should remain unchanged and those who would overhaul the system, say Charles Rosenberg of White & Case LLP and Olivier Andre of the International Institute for Conflict Prevention & Resolution.

  • FERC Finds No Cause For Change In Its GHG Analysis

    Howard L. Nelson

    The Sabine Pass Liquefaction LLC rehearing order suggests that the Council on Environmental Quality's draft guidance concerning climate change analysis from federal agencies will not change the calculus of environmental impact analyses from the Federal Energy Regulatory Commission under the National Environmental Policy Act, insofar as it concerns greenhouse gases, say Gus Howard and Howard Nelson of Greenberg Traurig LLP.

  • This Week In Congress: Continuing Resolution Looms

    Richard A. Hertling

    Highway funding remains at an impasse this week, as House and Senate debates continue. Iran also remains a major focus, with only 60 days for Congress to review the nuclear agreement reached earlier this month. Meanwhile congressional leaders have finally acknowledged what has been clear all along — efforts to fund the government past Sept. 30 have failed, say Richard Hertling and Kaitlyn McClure of Covington & Burling LLP.

  • An Oft-Forgotten Detail In Infrastructure Deals

    Burt Braverman

    The fallout from overlooking telecommunications licenses — an essential element of infrastructure deals — can be at best inconvenient and at worst very costly, says Burt Braverman of Davis Wright Tremaine LLP.

  • Drought In Calif. Is Changing The Real Estate Landscape

    Ian T. O’Banion

    With California farmers and at least one celebrity fined for stealing water, water suppliers and users alike are in the process of developing strategies for compliance amid dwindling supplies. For the real estate industry, these challenges serve as an opportunity to develop creative cross-disciplinary efficiency measures that could serve as a model for responding to severe droughts in other parts of the world, say Ian O’Banion and ... (continued)

  • Low Levels Of FCPA Enforcement Continued In Q2

    Marc Bohn

    Unless the pace of Foreign Corrupt Practices Act enforcement picks up considerably, as it did last year, 2015 is on track to be the lowest year in terms of resolved dispositions since 2005, say Marc Alain Bohn and Michael Skopets of Miller & Chevalier Chtd.