Global financial services giant HSBC Holdings PLC on Thursday agreed to pay $101.5 million as part of a deferred prosecution agreement filed in New York federal court to settle claims it defrauded two clients in a multimillion-dollar scheme to manipulate currency exchanges.
An oil well technology patent case where passions once ran high enough to prompt defendant BlueStone Natural Resources II LLC to quote a Rudyard Kipling poem was not so exceptionally weak as to merit attorneys’ fees for the company, a Texas federal judge ruled Thursday.
Toshiba Corp. announced Thursday it has agreed to sell billions worth of claims it holds against Westinghouse Electric Co., its bankrupt nuclear contracting subsidiary, for close to $2.2 billion, helping set up a path for Westinghouse to confirm a reorganization plan by the end of March.
Massachusetts Democratic Sen. Edward Markey sent a letter to U.S. Environmental Protection Agency chief Scott Pruitt on Thursday posing a slew of questions about his conduct and accusing him of driving the regulator away from its mission to protect the environment and toward industry-friendly positions.
The oil and natural gas industry asked the D.C. Circuit on Thursday to keep alive their consolidated challenge to a 2015 federal safety rule for trains carrying crude oil, saying a controversial special brakes requirement is still on the books so their challenge isn't moot.
Two energy companies must take their lawsuit to trial in a dispute against the government over $24 million in renewable energy cash grants after a U.S. Court of Federal Claims judge denied both sides’ bids for early wins on Wednesday.
C&J Energy Services, a company that specializes in drilling, completing and servicing wells, filed a lawsuit in state district court in Houston Tuesday against three former employees and a new company those employees launched, alleging the trio has poached engineers and customers in violation of noncompete agreements.
The Senate Judiciary Committee on Thursday voted to advance President Donald Trump’s nominee to lead the U.S. Department of Justice’s environmental division, Kirkland & Ellis LLP partner Jeffrey Bossert Clark, over strong objections from Democrats.
The Federal Circuit ruled Wednesday that the Defense Logistics Agency had properly terminated a contractor’s fuel supply deal for failure to deliver, while ruling that the U.S. Court of Federal Claims had improperly ruled on part of the dispute where no monetary claim had been made.
The U.S. Department of Commerce has revoked some of the duties it had imposed on solar cells from China after a U.S. educational company that imports miniature solar cells for classroom scientific kits asked the agency to exclude those products from the scope of the case.
Hogan Lovells said Tuesday that it's boosted its energy project development practice with a former Baker Botts LLP partner who specializes in liquefied natural gas project development.
A landowner asked the Texas Supreme Court on Tuesday to review a lower appellate court's opinion that he alleges wrongly nixed a $2 million jury award in his favor stemming from a trespassing dispute with XTO Energy Inc. over mineral leases.
Eaton Corp. clashed with the IRS in the U.S. Tax Court on Wednesday over the question of when a foreign subsidiary’s income becomes taxable in the U.S., in the latest skirmish between the power management company and the federal tax agency.
A Singapore biofuel trader asked a New York federal judge Tuesday for permission to register out of state a $25.3 million judgment issued over a fuel contract dispute, arguing that the company it was awarded against has sizable assets in Utah and California.
New York state on Wednesday approved an EverPower Wind Holdings Inc. unit’s $180 million, 126-megawatt project proposed on the shore of Lake Erie, and touted it as a sign the state is adopting cleaner energy sources.
The Bureau of Land Management, the states of North Dakota and Texas and several energy industry groups on Tuesday challenged efforts to block a decision suspending parts of a rule limiting oil and gas companies from venting and flaring methane on public lands, arguing in California federal court that a preliminary injunction that would keep the rule’s provisions in effect isn’t warranted.
Several states, local governments and environmental groups on Wednesday asked the D.C. Circuit to restart litigation over the validity of the Clean Power Plan, saying that the U.S. Environmental Protection Agency's request to keep the case in suspended animation isn’t justified.
Akin Gump Strauss Hauer & Feld LLP has made a new addition to its energy practice in Texas by snagging a former BakerHostetler partner with a history of facilitating deals for his clients.
New York and Connecticut on Wednesday sued the U.S. Environmental Protection Agency in New York federal court, accusing it of failing to meet a Clean Air Act deadline to act on curbing smog pollution that blows into their states from power plants and other emission sources in upwind states.
In this monthly series, legal recruiting experts Amanda Brady and Amy Mallow of Major Lindsey & Africa interview law firm management from Am Law 200 firms about how they are navigating an increasingly competitive business environment. The second conversation is with Mark Usellis, chief strategy officer for Davis Wright Tremaine LLP.
Northern California homeowners recently filed suit against PG&E Corporation, blaming its power lines for sparking wildfires that have destroyed more than 5,000 homes. If plaintiffs prove that the utility took shortcuts that placed profits over safety, victims’ compensation should come from the company's profits, not from ratepayers, say Mike Danko of Danko Meredith and Caroline Corbitt of Gibbs Law Group.
Smart law firms are increasingly positioning professionals to proactively guide them as the legal landscape reshapes itself, harnessing six emerging roles within their organizational charts to embrace new approaches, tools and systems, says Rob MacAdam of HighQ.
It remains to be seen if the recent reversal of the U.S. Department of the Interior's long-standing position regarding the Migratory Bird Treaty Act will withstand challenges. The launch of this decision — just before Christmas and without a solicitor — highlights some potential pitfalls, says Hilary Tompkins, a partner at Hogan Lovells and former solicitor of the DOI.
As the economic situation in Venezuela continues to deteriorate and the number of bond defaults continues to mount, the Third Circuit’s recent ruling against Crystallex is a poignant reminder about the challenges of recovering on claims against a determined sovereign. However, Crystallex is not without further litigation options, say Richard Cooper and Boaz Morag of Cleary Gottlieb Steen & Hamilton LLP.
Highly profitable companies have comprehensive corporate wellness programs that realize plateauing health care costs, greater employee engagement, and a demonstrable competitive advantage. The legal field needs a similar awakening, says Rudhir Krishtel, a former partner of Fish & Richardson and senior patent counsel at Apple.
Companies in the energy sector will be affected by many provisions in the new tax law, including changes to base erosion taxation, the corporate alternative minimum tax, net operating losses, contributions in aid of construction, partnership and other pass-through income and Section 199 domestic production activities, say attorneys with Eversheds Sutherland LLP.
While each new year is expected to bring fresh challenges to the legal industry, 2018 will be particularly disruptive to the status quo. Both law firms and organizations that cater to the legal community should prepare for developments like increasing pressure from international clients and data security risks caused by multigenerational gaps, says Jeff Ton of Bluelock LLC.
One probable reason for the recent shift in focus by the Office of Foreign Assets Control toward export-related transactions is that the agency’s enforcement efforts targeting big banks have worked. With fewer cases to bring against them, OFAC seems to be moving on to new weak spots in enforcement, say Sean Kane and Susie Park of Hughes Hubbard & Reed LLP.
The new federal tax legislation is far-reaching, and makes significant changes to how the United States taxes the energy sector. The law's treatment of energy tax credits, bonus depreciation, interest deductibility and other features of the tax code make it imperative for energy companies to review their tax strategies immediately, say attorneys with Eversheds Sutherland LLP.
As with 2016, there were no major U.S. Supreme Court decisions impacting indirect purchaser claims in 2017. Unlike 2016, however, several circuit court decisions addressed important issues such as ascertainability, 23(b)(3) predominance, and indirect versus direct purchaser status, say Chris Micheletti and Christina Tabacco of Zelle LLP.