The Third Circuit on Tuesday found Marathon Asset Management LP and several Polygon Global Partners funds do not have a priority claim on the $1.25 billion remainder of a $24.5 billion loan in the Energy Future Holdings Corp. bankruptcy.
A Texas appeals court on Wednesday affirmed a $16 million arbitration award in a dispute between an electrical equipment maker and a power company over the construction of a Mexico power plant, ruling that the lack of a record in the arbitration proceedings isn’t grounds to reverse its finding.
A Virginia power company has filed suit in federal court accusing Continental Western Insurance Co. and other carriers of shirking their contractual duty to defend it against a lawsuit filed by a man who was shocked after his vehicle was hit by a downed power line.
Starwood Property Trust on Wednesday expanded its reach beyond traditional real estate, striking a deal with GE Capital to acquire an arm of its energy finance business for $2.56 billion, with Sidley Austin LLP and Paul Hastings LLP guiding the buyer and Shearman & Sterling LLP guiding the seller.
Hours after the Trump administration teed up a new tranche of tariffs on $16 billion in Chinese industrial goods as part of its effort to reform the country’s intellectual property rules, Beijing came forward Wednesday with new duties on U.S. chemicals, petroleum products, medical equipment and other items.
A District of Columbia federal judge on Monday dismissed Vantage Commodities Financial Services LLC’s claims that seven reinsurers must help cover a $26 million arbitration award that the finance company won against its insurer, but he allowed Vantage to proceed with negligence claims against the broker that lined up the reinsurance coverage.
American economist Michael Greenstone has told a Montana federal court that advances in climate change science justify requiring a more thoughtful assessment from the U.S. Department of the Interior than it used in making its decision to lift a moratorium on federal coal leasing, pointing to the social costs of carbon and other greenhouse gases.
An agreement that stated a winning party in any underlying dispute was entitled to attorneys' fees means Sinclair Companies didn't need to “specially plead” its request for the funds after beating Seismic Wells in a contract fight, the Fifth Circuit was told Tuesday.
Mining and chemical company Tronox Ltd. squared off in D.C. federal court Tuesday against the Federal Trade Commission’s effort to stall its $2.4 billion acquisition of Saudi Arabia-based Cristal, telling a federal judge that the government is unlikely to win an order that would quash the deal.
A New York bankruptcy judge on Tuesday pressured an attorney for solar panel installer Level Solar Inc. to address delays in moving the company toward a restructuring plan amid calls to liquidate the estate while ordering a holdback of nearly half of his request for legal fees.
A Wyoming federal judge has largely backed an Obama-era rule that the American Petroleum Institute had said would put entities that hold oil and gas leases on federal and Native American land at risk for harsh penalties under a law governing royalty payments.
The D.C. Circuit on Tuesday affirmed a decision cutting Helmerich & Payne Inc.'s Venezuelan unit from a suit accusing the South American nation of illegally seizing the company’s drilling rigs, after the U.S. Supreme Court ruled that expropriation claims need to clear a high bar in order to be heard by U.S. courts.
Kazakhstan asked a D.C. federal judge not to force it to put up security while it challenges enforcement of a more than $506 million arbitral award issued to two Moldovan oil and gas investors, arguing that the investors have already frozen enough of its assets abroad.
Texas-based Quantum Energy Partners, with assistance from legal adviser Sidley Austin LLP, has clinched its latest investment vehicle after bringing in almost $5.58 billion from investors, the energy-focused private equity firm said Tuesday.
A split Federal Energy Regulatory Commission on Monday found that New York state environmental regulators waived their authority to deny a Clean Water Act permit for a $455 million natural gas pipeline project by blowing a one-year deadline.
The European Union has pledged to help financial services companies continue trading with Iran after rules designed to allow a wider range of European firms to bypass reimposed U.S. sanctions entered into force on Tuesday.
A liquidating trustee for bankrupt natural gas storage venture Ryckman Creek LLC lost a bid Monday for quick rejection of $2.4 million in purchase deductions sought by the company’s Chapter 11 buyer, just ahead of a fight over a disputed $11 million equity payment.
Two insurers for Black & Veatch Corp. on Friday urged a Kansas federal judge to rule they don't have to cover any costs the engineering company has incurred as a result of construction defects at four power plants, while Black & Veatch countered that the Tenth Circuit's recent ruling in the case established that the carriers must shell out.
The former manager of a public utility company pled guilty in New York federal court on Monday to four felony charges over a scheme to defraud the unnamed company out of more than $4 million between 2005 and 2016.
A New York federal judge recommended class certification Monday for investors accusing associates of now-defunct Miller Energy of overstating the value of oil and gas assets in filings with the U.S. Securities and Exchange Commission.
Legal industry compensation practices are once again in the news as BigLaw firms continue to match the new high watermark of $190,000 for first-year associate salaries. The typical model of increasing associate salaries uniformly fails star associates, the firms they work for and, ultimately, the clients they serve, says William Brewer, managing partner of Brewer Attorneys & Counselors.
Certain utility companies are exempt from the 30 percent limitation on the deductibility of interest expenses under Internal Revenue Code Section 163(j), but the IRS has yet to define how companies involved in both exempt and nonexempt activities should allocate interest expenses on their tax returns. We suggest a practical approach consistent with congressional intent, say attorneys at Eversheds Sutherland LLP.
To meet the ambitious energy and environmental goals of New York’s Reforming the Energy Vision program, the state is putting in place policies to increase the use of energy storage — sending out a strong signal to the growing energy storage industry to invest in New York, says Danielle Mettler-LaFeir of Barclay Damon LLP.
While some may say it’s ironic, it’s also embarrassing and enraging that the very industry that offers anti-harassment training, policies and counsel now finds itself the subject of #MeToo headlines. The American Bar Association recommendation that will bring about the greatest change is the call to provide alternative methods for reporting violations, says Beth Schroeder, chair of Raines Feldman LLP's labor and employment group.
The U.S. Department of Treasury Office of Foreign Assets Control continues its effort to allow U.S. persons to wind down operations or existing contracts that would otherwise violate Ukraine- and Russia-related sanctions. Even though OFAC has issued general licenses for this purpose, U.S. persons may need to obtain specific licenses to fully divest their interests, say attorneys with Schulte Roth & Zabel LLP.
In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.
In advance of their weeklong July 4 recess, members of Congress are pursuing a busy legislative schedule, focused on the fiscal year 2019 National Defense Authorization Act and other appropriations bills, reform of export controls, immigration and border security, and the farm bill authorization, says Layth Elhassani of Covington & Burling LLP.
For close observers of the Foreign Agents Registration Act, the June 8 release by the U.S. Department of Justice of over 50 FARA advisory opinions was a watershed. These opinions offer an unprecedented glimpse into how the FARA Registration Unit interprets the law, say Brian Fleming and Andrew Herman of Miller & Chevalier Chtd.
In the matter of Golan v. Commissioner of Internal Revenue, the U.S. Tax Court sustained the taxpayer's energy credit and bonus depreciation deductions. In this unusual case where the IRS had the burden of proof, attorneys from Mayer Brown LLP discuss five interesting takeaways.
The legal industry has already begun to feel the impact of anti-bribery and anti-money laundering requirements. When involved with cryptocurrency trading and remittance, law firms face more than the risk of being perceived as organizations that support money laundering practices, says John Reed Stark of John Reed Stark Consulting LLC.