Project Finance

  • August 1, 2014

    SEC's Piwowar Pushes Muni Disclosure Reform, Best Execution

    The municipal bond market is suffering from a lack of disclosure and transparency around fees and prices investors pay for the securities, while dealers in the sector need to be held to a higher standard when trading for customers, a Republican member of the U.S. Securities and Exchange said Friday.

  • August 1, 2014

    Moinian Group Gets $539M For 42nd St. Tower Construction

    New York developer The Moinian Group said Friday it has received $539 million in construction financing from the New York State Housing Finance Agency for its West 42nd Street residential tower project — the largest under-construction residential project in New York.

  • August 1, 2014

    Chevron Won't Take Apache's Stake In Int'l LNG Plants

    Chevron Corp. on Friday said it has no interest in increasing its stakes in two massive liquefied natural gas projects in Australia and Canada, a day after partner Apache Co. announced it was pulling out of both projects to refocus on growing its U.S. operations.

  • August 1, 2014

    NY Watchdog Grills State Agency On $256M Tappan Zee Loan

    Officials tasked with making sure New York's spending authorities act in the public interest are quizzing the state's Environmental Facilities Corp. over its approval of a $256 million loan made from clean-water funds to help pay for the new Tappan Zee bridge, environmental groups said Friday.

  • August 1, 2014

    Pulling Up Stakes: Perkins Coie, DLA Piper, Locke Lord

    In the week's roundup of deal makers on the move, Perkins Coie LLP nabbed a private equity and technology pro from Squire Patton Boggs in Palo Alto, California, DLA Piper landed a life sciences and mergers and acquisitions partner from Hogan Lovells also in Palo Alto, and Locke Lord LLP picked up an energy-focused M&A and project finance ace from Dentons in Texas.

  • August 1, 2014

    AES Looks To Invest $1B In Mexico Power Generation

    U.S.-based AES Corp. is looking to increase its presence in Mexico, potentially investing up to $1 billion to double its capacity over the next few years and stepping into the country’s wholesale market, a spokesperson for the power company said on Friday.

  • August 1, 2014

    2nd Circ. Asks Top NY Court To Examine Fracking Leases

    The Second Circuit asked New York's highest court Thursday to weigh whether the state's hydraulic fracturing moratorium amounts to a circumstance neither drillers nor landowners can control — a so-called force majeure — and whether oil and gas lease contracts can be extended by the industry as a result.

  • August 1, 2014

    DOI Wants More Input On Offshore Drilling Program

    The U.S. Department of the Interior said Friday that it’s extending the public feedback period for its 2017-2022 offshore oil and gas development program, amid calls from industry and its congressional allies to expand available drilling areas and pushback from coastal state lawmakers and environmental groups.

  • August 1, 2014

    ArcelorMittal Inks Deals For Stake In Guinea Iron Ore Project

    Steel maker ArcelorMittal SA said Friday that it has inked deals with units of Australian resources and mining company BHP Billiton and French nuclear energy giant Areva to acquire a more than 50 percent stake in the Mount Nimba iron ore project in Guinea for an undisclosed amount.

  • August 1, 2014

    Calif. Can Issue $8.6B In Bonds For Bullet Train Project

    A California appeals court ruled Thursday that the California High-Speed Rail Authority can finance the state's planned $68.4 billion high-speed rail project by issuing $8.6 billion in bonds, putting the project one step closer to becoming a reality.

  • August 1, 2014

    SEC Moves Muni Disclosure Plan Deadline After Groups Balk

    The U.S. Securities and Exchange Commission has given municipal issuers and obligors an additional two and a half months to comply with an enforcement initiative around their disclosure obligations, and it has spelled out the range of penalties underwriters face if they take part in the plan.

  • August 1, 2014

    Ex-Im Renewal Bill Gains Steam As Reid Calls For Action

    A bipartisan bill to reauthorize the U.S. Export-Import Bank gained steam Thursday as Senate Majority Leader Harry Reid, D-Nev., marked the legislation as a key priority for the upper chamber once it returns from its legislative recess next month.

  • July 31, 2014

    Steel Contractor For WTC Project Charged With Wire Fraud

    New York federal officials on Thursday leveled wire fraud charges against the CEO of a construction company that won nearly $1 billion in contracts to provide steel for the World Trade Center project, saying he cheated a system designed to benefit businesses owned by women and minorities.

  • July 31, 2014

    Fla. Senator Wants Probe Into All Aboard Florida Lease

    All Aboard Florida Operations LLC on Thursday defended a lease — part of its planned $1.5 billion passenger line between Miami and Orlando — that was questioned by a state senator for not allowing for future stops in Brevard or Indian River Counties.

  • July 31, 2014

    Activists Appeal To Block $477M Sacramento Kings Arena

    Just days after a California judge refused to block construction of the Sacramento Kings' new $477 million arena, environmental activists on Thursday gave notice of an appeal and accused the basketball team and city of wrongfully pushing the project forward with the help of an unconstitutional law.

  • July 31, 2014

    Pro-Enviro Pipeline Decision Won't Doom Pa. Sunoco Project

    A Wednesday decision by two Pennsylvania Public Utilities Commission administrative law judges that a Sunoco Inc. subsidiary cannot avoid local zoning approval for components of a pipeline that would ferry natural gas from western Pennsylvania to a Philadelphia-area refinery will not be the last word on the fate of the project, experts told Law360. 

  • July 31, 2014

    DOE Gives Thumbs Up To Oregon LNG Export Project

    The U.S. Department of Energy said Thursday that Leucadia National Corp.’s planned $6 billion liquefied natural gas export terminal on the Oregon coast can export LNG to countries that don’t have free trade agreements with the U.S., the second facility in the Beaver State to earn such approval.

  • July 31, 2014

    Panasonic Inks Deal For Tesla's Planned $5B Battery Plant

    Japanese electronics giant Panasonic Corp. has agreed to help build electric carmaker Tesla Motors Inc.’s estimated $5 billion large-scale battery manufacturing plant in the U.S. called Gigafactory, the companies announced Thursday.

  • July 31, 2014

    Blackstone Funnels Up To $800M Into Asian Energy Venture

    The Blackstone Group LP’s energy private equity arm is investing up to $800 million in Malaysian startup Tamarind Energy to pursue oil and gas development opportunities in Southeast Asia in partnership with the region's host governments and national oil companies, the company said Wednesday.

  • July 31, 2014

    Senate Reluctantly Passes $10.9B Highway Funding Bill

    The U.S. Senate agreed late Thursday to pass a $10.9 billion bill extending funding for the U.S. Highway Trust Fund through May, staving off insolvency for the fund, after the U.S. House of Representatives earlier rejected an $8.1 billion Senate alternative.

Expert Analysis

  • Long-Term GHG Reduction Rule Could Change Nature Of EPA

    Jonathan Martel

    The U.S. Environmental Protection Agency's proposal to reduce emissions by 2030 will require “beyond-the-fence” measures and represents a potential shift from the agency's traditional role as an environmental regulator to that of an energy regulator — a shift that may test the limits of state and EPA regulatory authority, say attorneys at Arnold & Porter LLP.

  • FCPA Diligence In Infrastructure Transactions

    Richard G. Madris

    U.S. companies and investors engaged in infrastructure and energy transactions worldwide must note that an acquirer can be held liable for the Foreign Corrupt Practices Act violations committed by a target company — even if those violations took place prior to the acquirer obtaining control over the company, say attorneys with Stroock & Stroock & Lavan LLP.

  • OPINION: Lawyers Should Think In Terms Of Big Data

    James H. Wendell

    The vast majority of civil cases in the United States settle before trial. Knowing how many on a particular topic were filed, how many settled, when they settled, and on what terms clearly would be useful to a lawyer advising a client. Big Data could make it possible — yet this type of research is generally ignored by lawyers, says James Wendell of Riddell Williams PS.

  • Death Rattle For Unfinished Business Claims?

    Angelo G. Savino

    In a departure from Jewel v. Boxer, the decisions in the cases of Thelen LLP and Heller Ehrman LLP reflect a shift in the manner by which courts treat trustees’ claims for post-dissolution fees, say Angelo Savino and Julie Moeller Albright of Cozen O'Connor.

  • Securing Summary Judgment In Section 1603 Suits Got Harder

    Timothy Jacobs

    The U.S. Court of Federal Claims' recent opinion in Alta Wind I Owner-Lessor C v. United States, one of many Section 1603 energy grant cases filed in recent years, previewed some of the key issues to be decided in these cases — and it does not appear that these issues can be resolved by summary judgment, says Timothy Jacobs of Hunton & Williams LLP.

  • Amtrak's Metrics-Making Power Hangs In The Balance

    Kevin M. Sheys

    For industry, the U.S. Supreme Court's ruling in Association of American Railroads v. Department of Transportation will be about whether the standards Amtrak helped create will survive and be used to measure how the railroads adhere to their long-standing statutory obligation to give priority to Amtrak trains, says Kevin Sheys of Nossaman LLP.

  • Opportunities In Russia's Renewable Energy Program

    Alex Blomfield

    For corporate lawyers, Russia’s renewable energy incentive program may provide opportunities given significant need among Russian companies to establish joint ventures and their inexperience with successfully and cost-effectively executing renewable energy projects, say Alex Blomfield and Alexandra Rotar of King & Spalding LLP.

  • Trial-Ready In 180 Days: Prepare For SDNY's Rocket Docket

    Isaac S. Greaney

    A growing trend in the Southern District of New York akin to a sua sponte rocket docket can provide defendants with an opportunity to set the tone of discovery and shift the burden and risks of the schedule to their adversaries, say Isaac Greaney and Jackie Lu of Sidley Austin LLP.

  • Wind River Reservation May Shape Tribal CAA Jurisdiction

    Bart J. Freedman

    Public and private entities, including the state of Wyoming, have raised an issue of first impression as to whether the U.S. Environmental Protection Agency has the authority to determine an Indian reservation's boundaries under the Clean Air Act — the result could lead to a departure from established regulatory principles and should be of interest to entities operating on or near reservations, say attorneys at K&L Gates LLP.

  • When You Are Responsible For Your Book Of Business

    Jennifer Topper

    Finding prospective clients and retaining them has little to do with your legal training and expertise, and yet you have no practice without successful client acquisition and retention. There is no reason you cannot apply your basic legal training to successful sales efforts hinging upon your practice strength and experience, says independent law firm consultant Jennifer Topper.