Project Finance

February 14, 2013
Calif. Regulator Won't Review Nuke Plant Overbilling Claims

The California Public Utilities Commission on Thursday rejected a call to examine alleged overbilling and securities law violations related to a Southern California Edison Co. generator replacement project at the company's San Onofre nuclear power plant, saying it had no jurisdiction over the claims.
February 13, 2013
US Wrongly Created Solar Energy Zones, Enviros Claim

Three environmental groups on Tuesday sued the Bureau of Land Management in California federal court over its decision last year to set aside swaths of open space for utility-scale solar energy projects and failing to study smaller alternatives in degraded and developed areas rather than prime public land.
February 11, 2013
US Lost $30B Through Flawed Coal Leases, NRDC Claims

The Natural Resources Defense Council Inc. on Friday sued the U.S. Department of the Interior in New York federal court to compel documents on the coal tract leases in the Powder River Basin, alleging the government has lost more than $30 billion through flaws in its lease-bidding program.
February 1, 2013
Calif. Water Groups Sue After $400M Desalination Plant Nixed

The California American Water Co. and the Marina Coast Water District are suing each other over the Monterey County Water Resources Agency’s decision to terminate a $400 million water desalination plant deal over conflict-of-interest concerns, according to complaints transferred to San Francisco Superior Court last week.
January 30, 2013
MBIA Sues Texas Sports Authority To Cover $1B In Bonds

MBIA Insurance Corp. on Wednesday launched a suit in Texas court, alleging the Harris County – Houston Sports Authority has refused to collect revenue meant to secure $1 billion in bonds issued to finance construction of Houston’s sports venues and instead is making insurance claims to cover debt payments.
January 29, 2013
Chinese Co. Wants Wind Farm Deal Voided After Obama Block

Chinese-owned company Ralls Corp. on Monday asked a Washington federal judge to void its agreement to purchase four Oregon wind farm projects from Terna Energy USA Holding Corp., after President Barack Obama blocked the deal on national security grounds.
January 24, 2013
Calif. Fracking Permits Flout Enviro Regs, Suit Says

The Center for Biological Diversity on Thursday hit California with a lawsuit alleging it is issuing permits for hydraulic fracturing without tracking, monitoring or otherwise supervising the controversial practice, running afoul of state environmental regulations.
January 23, 2013
BLM Flubbed Analysis Of Gasco Natural Gas Project, Suit Says

Several environmental groups sued the U.S. Department of the Interior's Bureau of Land Management in Utah federal court Friday, claiming the bureau failed to properly conduct an environmental analysis before granting a permit to a major Gasco Energy Inc. natural gas development project.
January 11, 2013
Green Groups Take NJ Pipeline Battle To DC Circ.

Two environmental groups on Thursday asked the D.C. Circuit for an emergency stay of the Federal Energy Regulatory Commission's approval of a Kinder Morgan Energy Partners LP unit's $400 million natural gas pipeline expansion in Pennsylvania and New Jersey.
January 8, 2013
Kinder Morgan Unit Sues Over Pa. Enviro Pipeline Challenge

A unit of Kinder Morgan Energy Partners LP on Monday sued two environmental groups and the Pennsylvania Environmental Hearing Board for attempting to circumvent the federal permitting process to block a $400 million natural gas pipeline expansion in Pennsylvania and New Jersey.
January 4, 2013
Goldgroup Slapped With $14M Suit Over Mexico Gold Mine

DynaResource Inc. last week asked a Texas state court for more than $14 million in damages it says were caused when Goldgroup Resources Inc. improperly claimed to own half of a 178,000-acre gold mining project in Mexico.
January 4, 2013
Repsol Can't Sue YPF Partners After Takeover, Bridas Says

The Argentine government's nationalization of energy firm YPF SA from Repsol SA does not entitle Repsol to pursue legal action against those that wish to do business with YPF, according to Bridas International SA, which filed suit Thursday against the Spanish oil and gas company in New York state court.
January 3, 2013
SEC, Gold Mining Co. Settle Suit Over Alleged $16M Fraud

The U.S. Securities and Exchange Commission on Thursday filed and settled fraud charges against California-based Nekekim Corp. and its CEO Kenneth Carlton for allegedly tricking investors out of $16 million by misrepresenting the presence of gold in a mining venture.
December 19, 2012
Drilling Co. Blames Buccaneer For Failed Oil Rig Venture

A Houston-based oil field drilling service provider on Wednesday launched a suit against Buccaneer Energy Ltd., alleging the oil and gas company underfunded a joint venture to refurbish an oil rig to be used off Alaska's coast, causing the deal to fail.
December 18, 2012
Oil And Gas Group Sues Colo. Town To Kill Fracking Ban

In a test of cities' power to police hydraulic fracturing, the Colorado Oil & Gas Association on Monday sued a Denver-area municipality to invalidate a voter-approved ban on the natural gas extraction technique, saying it intrudes on state oversight and fosters inconsistent regulation.
December 17, 2012
US Offshore Leasing Plan Fails Economic Test, DC Circ. Told

An environmental advocacy group on Monday challenged the Obama administration’s five-year offshore oil and gas leasing program in the D.C. Circuit, claiming its plans for new lease sales were economically unjustified.
December 12, 2012
Salvage Co. Says Diamond Killed $258M Rig Leasing Venture

Industrial salvage company PRC Environmental Inc. on Wednesday hit Diamond Offshore Drilling Inc. with a suit in Texas federal court, alleging the drilling services contractor made false claims about an offshore oil rig, killing leasing deals worth $258 million.
December 5, 2012
EPA Sued Over Pollution Controls At Xcel Power Plant

The National Parks Conservation Association and five other environmental advocacy groups sued the U.S. Environmental Protection Agency in Minnesota federal court Wednesday to compel the agency to mandate stricter pollution controls at a Minnesota Xcel Energy Inc. power plant.
November 30, 2012
Power Plant Developer Says Ex-Employees Hid Side Project

A Houston power company and a private equity firm on Thursday hit two former employees with a breach of contract suit in Texas court, alleging they diverted resources from a power plant project in which the companies invested $44 million to develop a competing plant.
November 26, 2012
Oil Firm Claims It'll Lose $6.2B From Calif. Project Denial

California's San Luis Obispo County wrongly rejected Excelaron LLC's plan to drill for oil in the county's rural Huasna Valley, potentially costing the exploration company more than $6.2 billion worth of oil, one of the firm's owners said Wednesday.

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Expert Analysis

National Ocean Plan Affects A Sea Of Users

Recently, the National Ocean Council released its final national ocean policy implementation plan, identifying specific actions for federal agencies to undertake to bolster the nation's ocean economy and improve ocean health. These actions could broadly impact a wide range of ocean uses, including offshore energy development, shipping, recreation, fishing and aquaculture, say attorneys with Van Ness Feldman LLP.
Condemn Now, CEQA-Compliance Later? Maybe

Must a public project receive environmental clearance before an agency may begin acquiring property for it? In Golden Gate Land Holdings LLC v. East Bay Regional Park District, the California Court of Appeal answered no, permitting an agency to file an eminent domain action prior to complying with the California Environmental Quality Act, but the holding appears limited, say attorneys with Nossaman LLP.
Spotlight On Brazil: Courting International Investors

Alongside legal reform and a consolidation of institutions, self-regulatory initiatives have promoted a real improvement in corporate governance practices in Brazil. Such factors have also led to the creation of a more diffuse control of capital in Brazilian companies and the increased participation of active minority investors demanding professional, independent and transparent management bodies, says Silvia Fazio of Chadbourne & Parke LLP.
What To Know About IRS' 'Begun Construction' Tests

The Internal Revenue Service's recently published Notice 2013-29 provides two new "begun construction" tests used to determine whether certain projects qualify for a production tax credit or investment tax credit. While these tests are very similar to the U.S. Department of Treasury's Section 1603 rules, practitioners should take note of the important differences, says Forrest Milder of Nixon Peabody LLP.
Africa — Open For Business

While the challenge of development in many African countries should not be underestimated, the rising middle class and ensuing breadth of needs across industries ― including power generation and distribution, transportation, telecommunications, agribusiness, oil and gas, financial services, health care, education, housing and consumer goods — provide an array of prospects for foreign investment, say experts with AlixPartners and Dentons.
Kiobel Ruling Curbs Potential ATS Liability — For Now

While the U.S. Supreme Court has upheld the Second Circuit ruling on the reach of the Alien Tort Statute, the court's narrow holding in Kiobel v. Royal Dutch Petroleum, issues raised in concurring opinions and the submission of voluminous amicus briefs all suggest a strong likelihood of continued challenges regarding overseas violations of international law. Mining, oil and pharmaceutical companies, manufacturers and financial institutions doing business on foreign soil should take note, say Benjamin Haglund and Barbara Yu of Day Pitney LLP.
Foreign Pension Funds Could Back US Infrastructure

In order to incentivize foreign pension funds to invest in U.S. infrastructure projects — such as oil and gas fields, pipelines, real estate development and toll roads — the Obama administration has proposed putting foreign pension funds on equal footing with U.S. pension funds that are permitted to invest in certain real estate assets on a tax-exempt basis. The proposal, if enacted, would open up certain classes of investment assets effectively unavailable to foreign pension funds, say James Reardon and Elizabeth Behncke of Bracewell & Giuliani LLP.
Key Considerations In Energy Take-Or-Pay Contracts

Despite it being the most common type of off-take contract in a large-scale energy project, the take-or-pay contract is still often poorly drafted. Parties entering into such contracts should be aware of the essential features of the take-or-pay obligation and understand the potential lumpiness of such contracts in worst-case scenarios, say attorneys with King & Spalding LLP.
FERC's Unclear Guidance On Horizontal Market Power

In declining to authorize a transaction among MACH Gen LLC, Saddle Mountain Power LLC and New Harquahala Generating Company LLC, the Federal Energy Regulatory Commission has provided some guidance regarding when the transfer of control is sufficient to mitigate the failure of FERC’s horizontal market power screens but with little clarity, say attorneys with Akin Gump Strauss Hauer & Feld LLP.
What The Future Holds For Fracking In NY

Two major decisions — one from a New York state appeals court on a municipality's ability to regulate natural gas exploration through home rule powers and another from a state agency on whether health effects of high-volume hydraulic fracturing have been sufficiently addressed — are expected in the spring of 2013 and will largely determine the extent to which fracking will occur in New York state, say attorneys with Nixon Peabody LLP.

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