Project Finance

  • July 26, 2017

    EPA, Army Corps Take Clean Water Rule Rollback To Public

    The U.S. Environmental Protection Agency and Army Corps of Engineers on Wednesday started the clock for public comments on their proposal to rescind an Obama-era rule defining the federal government's permitting jurisdiction under the Clean Water Act, a prelude to possibly crafting a new definition.

  • July 26, 2017

    Duke Owes $352M In Plant Termination Costs, 4th Circ. Told

    Westinghouse Electric Co. has told the Fourth Circuit it’s entitled to $352 million plus interest in termination costs from Duke Energy Florida Inc. for Duke’s backing out of a contract for a Florida nuclear power plant, arguing the district court misread the agreement when it denied the payment.

  • July 26, 2017

    Democratic Lawmakers Urge Withdrawal Of Ex-Im Nom

    Three Democratic lawmakers on Tuesday urged President Donald Trump to withdraw the nomination of Scott Garrett to head the U.S. Export-Import Bank, saying that the nomination of the former Republican congressman from New Jersey, who was a vocal critic of the agency while in office, “makes no sense.”

  • July 25, 2017

    SunEdison Gets Nod For Ch. 11 Plan Confirmation

    SunEdison Inc. cleared a major hurdle Tuesday, securing a New York bankruptcy court’s approval of its plan to exit Chapter 11 through a series of creditor settlements after objections raised by the renewable green energy giant's shareholders and a dissenting member of its unsecured creditors' committee were overruled.

  • July 25, 2017

    Calif. Tribes Press For Quick Win In Highway Project Dispute

    Two Native American tribes urged a federal judge Monday to grant them a quick win against the federal government in their lawsuit challenging a highway project in Northern California over concern for cultural sites and sensitive wetlands, arguing there's "no question" it flouted environmental and historic preservation laws in connection with the project.

  • July 25, 2017

    Baker Botts Adds MoFo Enviro Chair To SF Office

    Baker Botts LLP has hired Chris Carr, the environmental and energy group chair at Morrison & Foerster LLP, to bolster the firm’s environmental practice on the West Coast, the firm announced Tuesday.

  • July 25, 2017

    Chinese Co. Takes BP Asset Sale Row To Federal Court

    A Chinese petroleum company embroiled in a dispute with a Texas consulting firm over unpaid invoices related to the $775 million sale of certain BP PLC assets removed the firm’s suit to Texas federal court Monday, blasting the litigation as a "naked attempt" to attack a prior arbitration award.

  • July 25, 2017

    Sunoco Ordered To Halt Mariner East Pipeline Construction

    A Sunoco Inc. unit was ordered to halt work on portions of its controversial Mariner East 2 natural gas pipeline in Pennsylvania on Tuesday following spills and drinking water contamination linked to construction-related drilling activity.

  • July 25, 2017

    New York Beats Back Challenges To Nuke Plant Subsidies

    A New York federal judge on Tuesday nixed challenges to the Empire State's plan to subsidize struggling nuclear power plants, saying the plan doesn't intrude on federal jurisdiction of wholesale electricity markets and is a constitutional use of the state’s authority to tackle climate change.

  • July 25, 2017

    DOI Mining Decision Can Be Challenged, 10th Circ. Says

    The Tenth Circuit on Tuesday reversed a lower court's dismissal of a coal miner's challenge of an enforcement decision by a U.S. Department of the Interior administrative law judge, saying such decisions are final and subject to judicial review once the agency's appeals board declines to stay them.

  • July 25, 2017

    Iron Workers To Spearhead Anadarko Securities Fraud Class

    A Texas federal judge Monday named the Iron Workers Benefit and Pension Fund as lead plaintiff for a putative class of investors who say Anadarko Petroleum Corp. violated federal securities laws by failing to disclose risks associated with its gas wells before a deadly explosion.

  • July 25, 2017

    Judge Guts $56.5M Detroit Pistons Arena Funding Fight

    A Michigan federal judge on Monday trimmed the bulk of a suit brought by residents looking to block $56.5 million in tax dollars from funding the NBA's Detroit Pistons' relocation to a new arena, finding that a majority of the residents' state law and federal constitutional law claims fall short.

  • July 25, 2017

    Gov. Brown Signs Extension Of Calif. Cap-And-Trade To 2030

    California Gov. Jerry Brown on Tuesday signed into law a 10-year extension of California's landmark cap-and-trade program, the centerpiece of the state's push to decrease greenhouse gas emissions by 40 percent from 1990 levels.

  • July 25, 2017

    Utilities Hid Climate Change Knowledge, Green Group Says

    The electric power industry knew of the climate change risks of burning fossil fuels as early as 1968, but concealed its knowledge and actively worked to block solutions, an environmental group said Tuesday.

  • July 24, 2017

    TerraForm Brass Reach $20M Settlement Of Solar Deal Suit

    Directors of TerraForm Global Inc., one of the yieldcos affiliated with bankrupt SunEdison Inc., unveiled Friday the deal settling, for $20 million, Delaware Chancery Court derivative claims connected to an Indian solar project deal, but the resolution requires a ruling from the New York bankruptcy court allowing insurance funding.

  • July 24, 2017

    Chevron Pays $1M Fine, $20M In Upgrades Over Refinery Fire

    Chevron Corp. agreed to pay a $1 million fine and to make about $20 million worth of safety improvements at a Richmond, California, refinery, settling a long-running dispute with Golden State safety regulators over penalties levied following a 2012 fire, regulators said Monday.

  • July 24, 2017

    No Redo For NM Utility In Navajo Right-Of-Way Suit: 10th Circ.

    The Tenth Circuit on Friday rejected a request by a New Mexico utility to rethink its ruling that the company cannot secure a path for a transmission line through property partly owned by the Navajo Nation, despite the utility’s contention that the ruling will make it harder for state and local governments to carry out infrastructure projects.

  • July 24, 2017

    Orange County Scores Win In FAA Suit Over Airport Lease

    The Federal Aviation Administration on Friday axed a complaint alleging Orange County, California, is “banking land” and refusing to negotiate reasonable lease terms for longtime fixed-base operators that provide aircraft fueling and maintenance services at John Wayne Airport in Santa Ana.

  • July 24, 2017

    Alaska Seeks High Court Review Of 'Threatened' Seal Listing

    The state of Alaska, along with local and Native communities and business groups, on Friday urged the U.S. Supreme Court to overturn the Ninth Circuit's ruling that climate change projections could be used to list an Arctic seal population as a threatened species under the Endangered Species Act.

  • July 24, 2017

    W.Va. Halts Work On $4B ETP Pipeline Amid Enviro Violations

    West Virginia environmental regulators have given Energy Transfer Partners LP's Rover pipeline project another regulatory black eye, blocking work on portions of the $4.2 billion project because of several environmental and permitting violations, according to a Federal Energy Regulatory Commission notice published Monday.

Expert Analysis

  • Methane Rule Decision Shows Regulatory Process Is Key

    J. Michael Showalter

    The Trump administration has placed regulatory reform — particularly related to environmental matters — at the forefront of its agenda. But the D.C. Circuit's recent decision on the methane rule demonstrates that the administration’s attempts to roll back regulations in unconventional ways is clashing with the mechanics of how the federal government operates, say J. Michael Showalter and Kaitlin Straker of Schiff Hardin LLP.

  • Weekly Column

    Innovating For Wise Juries: Discussions Before Deliberations

    Richard Lorren Jolly

    To be sure, allowing jurors to discuss evidence before final deliberations proved to be among the least popular of our recommended innovations. But empirical evidence belies these fears, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.

  • Financial Covenants In Project Financing: Key Points


    Project finance lenders typically require that borrowers agree to financial covenants in loan agreements, prescribing the parameters within which the business venture may operate. These covenants and related provisions are often highly negotiated, and reflect the ultimate confidence of the parties in the financial success of the project, say Emeka Chinwuba and Laura Pettinelli of Norton Rose Fulbright LLP.

  • 5 Questions Firms Should Ask When Evaluating Litigation AFA

    Gregory Lantier

    Law firm management should understand the client’s reasons for requesting an alternative fee arrangement, and whether approving the fee will help grow the relationship with the client, say attorneys with WilmerHale.

  • For Law Firm Offices, Business Savvy Is The New Cool

    Craig Braham

    Having embraced the notion that the right space can reinforce the right firm culture, law firm leaders have been evaluating real estate primarily for its physical properties. However, it's hard to be collegial, even in the coolest of in-house coffee bars, if your cost structure is untenable, says Craig Braham of Advocate Commercial Real Estate Advisors LLC.

  • Planning A Legal Career With A Future Relocation In Mind

    Jacqueline Bokser LeFebvre

    Lawyers move to New York City to work on some of the most sophisticated work the legal market has to offer. This exposure and experience is an amazing asset and many of the skills developed will make associates very marketable in the event they consider relocating to another market. However, this isn’t always the case, says Jacqueline Bokser LeFebvre of Major Lindsey & Africa.

  • 4 Female Perspectives On BigLaw Leadership

    Regina Pisa

    Only a handful of the largest U.S. law firms are led by women. Here, in their own words, are perspectives from Shook Hardy & Bacon Chair Madeleine McDonough, Crowell & Moring Chair Angela Styles, Morgan Lewis & Bockius Chair Jami Wintz McKeon and Goodwin Procter Chair Emeritus Regina Pisa.

  • The Elephant In The Room: Advancing Women To Partnership

    Anusia Gillespie

    Despite more focus and investment, the numbers continue to show little progress in advancing women to the top tiers of firm leadership. Considering the irreversible nature of the transformation of the market for top talent, it is time to start experimenting and innovating from the core, rather than from the periphery, say Anusia Gillespie and Scott Westfahl of Harvard Law School.

  • How Midsize Law Firms Can Minimize Cybersecurity Threats

    K. Stefan Chin

    It can be challenging for midsize law firms to develop an enterprise cybersecurity program that mitigates the eminent threat of data breach and meets the regulatory and compliance requirements of the firm and its clients. This challenge becomes daunting when considering the steady rise in client audits, say K. Stefan Chin of Peckar & Abramson PC and John Sweeney of Logicforce.

  • Federal Energy Procurement Programs Remain Attractive

    Taite McDonald

    The Trump administration's actions sometimes seem to favor fossil fuels at the expense of clean and innovative energy solutions. But federal energy procurement programs clearly continue to promote an integration of the two. The market for renewable energy at military and other government installations will likely continue to grow, say Taite McDonald and Stephen Bolotin of Holland & Knight LLP.