In this week’s Taxation With Representation, SS&C Technologies Holdings Inc. bought DST Systems Inc. for $5.4 billion, the Blackstone Group LP purchased Pure Industrial Real Estate Trust for $3.05 billion and a Riverstone-Goldman Sachs joint venture snapped up Lucid Energy Group II for $1.6 billion.
Breitburn Energy Partners LP initiated efforts Thursday to confirm a Chapter 11 plan that shareholders say undervalues its assets by more than $2 billion, as company executives testified that the proposed scheme, which hands the enterprise over to groups of note holders, is the best deal available.
A New York federal judge on Thursday dismissed a class action securities fraud suit against an energy firm whose CEO was fired after his involvement in a stock scam with another company was revealed, saying the shareholders hadn’t proven company officials knew of the scam when they released statements touting the CEO and their code of business conduct prior to his firing.
A Kentucky federal jury convicted the former CEO of U.S. Energy Partners Inc. on charges related to the solicitation of more than $1 million dollars of investment money for the purchase of a gas pipeline.
The question of whether the city of Oakland, California, was allowed to pass an ordinance restricting the passage of export-bound coal through a terminal that is under development will proceed to trial next week, a California federal judge ruled Wednesday.
The Sierra Club, Waterkeeper Alliance and other environmental groups filed suit in Louisiana federal court Thursday opposing a recent decision allowing the company behind the controversial Dakota Access Pipeline to move forward with a connecting pipeline that the challengers say would threaten the country’s largest river swamp.
A Texas federal judge ruled Thursday that drilling contractor Hercules Offshore Inc. had assumed the duty of defending a drilling parts maker against claims it caused an offshore drilling fire when Hercules took over a bankrupt business.
The Pennsylvania Department of Environmental Protection has agreed to update water permits in order to reduce pollution from 10 coal-fired power plants, in response to a lawsuit filed by the Sierra Club and an another environmental group, the groups announced on Thursday.
Canadian mining company Crystallex said Wednesday it will ask the Third Circuit to reconsider a ruling that it cannot sue the Delaware subsidiary of Venezuela's national oil company to collect a $1.39 billion arbitral award over a canceled mining contract, saying lower courts are split on whether the subsidiary was wrongly targeted.
The Federal Energy Regulatory Commission on Thursday refused to overrule New York’s denial of a Clean Water Act permit for a $683 million natural gas pipeline, rejecting Constitution Pipeline Co. LLC’s argument that the state waived its authority by blowing through a one-year statutory deadline to act on the permit request.
Institutional investor La Caisse de dépôt et placement du Québec announced Thursday that it will loan CA$313 million ($250 million) to a Colombia-based energy company to fund the largest renewable energy project in the country.
A Pennsylvania appeals court on Thursday upheld a decision preventing a group of residents of Cecil Township from intervening in a fight over zoning approvals for a natural gas compressor station proposed by a MarkWest Energy Partners LP unit.
The federal government told a D.C. district court Wednesday that the Yankton Sioux Tribe’s bid to pull the permits for the $3.8 billion Dakota Access pipeline because there was no overarching environmental review document was improper, asserting that each of its departments had correctly handled its distinct responsibilities.
A bipartisan group of lawmakers on Wednesday laid out principles for investing in U.S. infrastructure and streamlining environmental reviews for projects in a report it hopes will serve as the “bedrock” for an eventual infrastructure plan to tackle surface transportation, ports, aviation, energy and broadband upgrades.
BP PLC has agreed to pay California and a whistleblower $102 million to settle a suit alleging it intentionally overcharged the Golden State for natural gas in violation of contractual caps, just as the case was set to go to trial in state court, according to lawyers for the whistleblower.
Dilworth Paxson LLP started the new year with the addition of a veteran Pennsylvania attorney who previously led the consumer protection unit at the state attorney general’s office and will develop an energy and public utilities practice at the law firm.
The Federal Energy Regulatory Commission on Wednesday stuck by the green light it had given a Kinder Morgan unit to begin construction on a pipeline expansion project, saying that the Narragansett Indian Tribal Historic Preservation Office and others had waited too long to voice objections to the since-completed project.
New Jersey Gov. Chris Christie joined a chorus of state leaders pleading with the U.S. Department of the Interior not to allow future oil drilling off its coast, saying Wednesday he was asking the agency to give the Garden State the same exemption it granted Florida on Tuesday.
The operator of the controversial Dakota Access pipeline that has sued various environmental groups accusing them of destroying company property and threatening executives with death improperly named an environmental "philosophy" and “nonentity” as a defendant in the suit, a nonprofit advocacy group said Wednesday.
The Fifth Circuit on Tuesday rejected Louisiana mass action plaintiffs’ bid to remand to state court their claims that ExxonMobil Corp. and other energy companies are responsible for injuries and property damage caused by radioactive material produced by their operations.
2017 has been a year of dramatic shift in United States energy and environmental policy. As the year draws to a close, it’s an apt time to review the key steps taken to achieve President Donald Trump’s campaign goals, assess the impacts of the administration’s actions, and postulate on what may be coming next, say Stacey Mitchell and Kenneth Markowitz of Akin Gump Strauss Hauer & Feld LLP.
Much has been written about the 2012 "Resource Guide to the U.S. Foreign Corrupt Practices Act," but no one has talked about the behind-the-scenes work that produced the guide — until now, say Charles Duross, former chief of the FCPA Unit at the U.S. Department of Justice, and Kara Novaco Brockmeyer, former chief of the FCPA Unit at the U.S. Securities and Exchange Commission.
The U.S. Environmental Protection Agency's Renewable Fuel Standard program has been the subject of considerable controversy this year, with important developments across all three branches of government. Joel Beauvais and Steven Croley of Latham & Watkins LLP analyze key elements of two recent EPA actions in this area, and highlight one of the looming questions for the program.
The twist in the Lindsey Manufacturing Foreign Corrupt Practices Act case was the truncated time in which we prepared. Having refused to waive their rights to a speedy trial, our clients took control of the case — this, along with the compressed time frame, forced the government to make errors, say Janet Levine, Sima Namiri-Kalantari and Megan Weisgerber of Crowell & Moring LLP.
Players in the domestic oil and gas space — energy companies, private equity investors, investment bankers and lenders — should take note of a number of features of the House and Senate tax bills, including changes to the corporate tax rate, treatment of pass-through earnings, and the bonus depreciation deduction, say James Chenoweth and Eric Sloan of Gibson Dunn & Crutcher LLP.
Barclays’ recent settlement with the Federal Energy Regulatory Commission resolving market manipulation allegations provides no new guidance as to the reach of FERC’s anti-manipulation rule. However, the case has established precedent regarding certain procedural questions, say attorneys with Bracewell LLP.
While the advantages of arbitration are well known, they can become disadvantages for the unwary. Carl Jenkins and A. Scott Davidson of Duff and Phelps Corp. offer suggestions from their experiences as arbitrators, arbitration panel members, expert witnesses and consultants.
The recent conviction of former HSBC foreign exchange executive Mark Johnson has shocked market participants and could lead to a reduction in liquidity for block trades in the foreign exchange and other over-the-counter markets, say members of The Brattle Group and AGN Advisory.
At the behest of the U.S. Department of Energy, the Federal Energy Regulatory Commission is soon expected to release an interim rule that subsidizes power plants that hold 90 days of fuel supply on site — i.e., coal-fired and nuclear plants — and effectively penalizes gas-fired plants. But FERC has an opportunity to mitigate the threat to gas-fired generators, says Chip Moldenhaeur of LawIQ.
Since its whopping $800 million Foreign Corrupt Practices Act settlement in 2008, Siemens cleaned up — and it has “cleaned up” in its long-standing competition with General Electric. How? As Secretary of State Rex Tillerson reportedly told President Donald Trump, you don’t need to pay bribes to succeed in international business, says Peter Y. Solmssen, former general counsel of Siemens.