Project Finance

  • June 02, 2020

    3 Takeaways From The EPA's New Water Permit Rule

    The U.S. Environmental Protection Agency this week ended years of deference to state and tribal governments to enforce Clean Water Act requirements on pipeline projects that cut through their jurisdictions, in a bid to deliver more regulatory certainty to developers, but the landmark change is far from cemented as it likely will face tough challenges in court.

  • June 02, 2020

    10th Circ. Affirms Solar Energy Tax Credit Scheme Owes $50M

    A Tenth Circuit panel affirmed a $50 million disgorgement order Tuesday for a solar energy company to return profits from promoting an abusive tax scheme that leased useless solar lenses to companies so they could claim solar energy tax write-offs.

  • June 02, 2020

    Justices Nix 11th Circ.'s 'Formalistic' View Of Arbitration Law

    The U.S. Supreme Court held Monday that nonsignatories to an international arbitration agreement may compel arbitration of disputes arising under that agreement, a decision that's being praised for bringing the U.S. in line with widely held views on arbitration law.

  • June 02, 2020

    Activists Block Land Swap Intended For Alaskan Refuge Road

    The Trump administration cannot proceed with a planned land exchange that would allow an isolated Aleutian community to construct a road through Alaska's Izembek National Wildlife Refuge, a federal judge has said, in a win for environmental groups.

  • June 02, 2020

    NJ Tells High Court PennEast Can't Snatch Land For Pipeline

    New Jersey told the U.S. Supreme Court on Tuesday that the Third Circuit got it right when it ruled that developers of the $1 billion PennEast pipeline can't seize New Jersey-owned land for the project.

  • June 02, 2020

    Fla. Judge Begrudgingly Tosses Kids' Climate Suit

    A Florida judge has reluctantly dismissed a group of young people's suit accusing local officials of violating their state constitutional rights to a safe environment by promoting fossil fuel use despite knowing its climate change impacts, ruling from the bench that it isn't the court's place to legislate.

  • June 02, 2020

    Fla. Judge Blasts Attys For Delay In EB-5 Fraud Suit

    A Florida judge on Tuesday blasted attorneys involved in a suit by Chinese nationals claiming a White House-connected real estate developer defrauded them in a $99.5 million EB-5 visa scheme, telling them to comply with court orders and work together or risk facing sanctions.

  • June 02, 2020

    Opportunity Zones Could Help In Virus Relief, GOP Sen. Says

    The opportunity zone program created under the 2017 tax reform law could help the novel coronavirus relief effort by providing an incentive for companies that make personal protective equipment to move to the U.S., Sen. Tim Scott, R-S.C., said Tuesday.

  • June 02, 2020

    Feds, Industry Oppose Bid To Block Trump's Water Rule

    The federal government, business groups and a coalition of states have said the Trump administration's rule narrowing the scope of the Clean Water Act's jurisdiction was a reasonable move that shouldn't be halted just because some states like California disagree with the result.

  • June 02, 2020

    JPMorgan, Barclays To Pay Mexican Bond Investors $20.7M

    JPMorgan Chase and Barclays PLC will pay a combined $20.7 million in what bondholders call "icebreaker" settlements of claims that the banks participated in a sweeping conspiracy to rig Mexican government bond prices, according to court filings.

  • June 02, 2020

    Grid Cos. Fight Revamped FERC Transmission Rate Reviews

    Midwestern electric transmission owners who had their investor returns slashed after the Federal Energy Regulatory Commission revised its formula for determining whether such returns are just and reasonable petitioned the D.C. Circuit on Monday to review the agency's orders containing the policy shift.

  • June 02, 2020

    Mo. High Court Nixes Kan. City Chiefs' Taxes On Field Revamp

    The Kansas City Chiefs aren't liable for nearly $1 million in sales and use taxes on items used to renovate their football stadium, the Missouri Supreme Court ruled Tuesday, finding the team wasn't the purchaser of the goods in dispute.

  • June 02, 2020

    Pipeline Row Kept In Texas, Ending Venue Tug Of War

    A case could be made for litigating a pipeline delay dispute involving a Oneok Inc. affiliate in multiple jurisdictions along the pipeline's 80-mile route, but the first-to-file rule places jurisdiction squarely in Texas federal court, a judge there has ruled.

  • June 01, 2020

    5th Circ. Told Texas Power Grid Law Is Unconstitutional

    A new Texas law that only allows incumbent transmission companies to build new power lines is an example of "blatant discrimination by statute" and should be struck down as unconstitutional, an attorney for a NextEra Energy Inc. unit told the Fifth Circuit on Monday.

  • June 01, 2020

    IRS Rules Would Open Doors For Carbon Capture Projects

    Proposed IRS rules on the carbon capture tax credit would allow another avenue for businesses to prove they meet the credit's requirements for enhanced oil recovery projects, which would provide flexibility for projects without jettisoning monitoring, reporting and verification standards.

  • June 01, 2020

    Texas Energy Co. Gets $1M Award From Profits Row OK'd

    A federal court has confirmed a Texas energy company's 5.8 million Brazilian real (roughly $1 million) victory in arbitration over misappropriated profits following a sale agreement. 

  • June 01, 2020

    Feds Sue Contractor For False Claims On NJ Turnpike Project

    The U.S. government has sued a construction company and accused it of violating the False Claims Act by claiming to work with businesses run by socially and economically disadvantaged individuals during its time as a subcontractor on a New Jersey Turnpike project.

  • June 01, 2020

    Texas Can't Reverse $28.8M Jury Verdict Over Highway Project

    The state of Texas lost a bid to undo a $28.8 million jury award in a lawsuit brought against it by a developer who said the Grand Parkway toll road project and the related condemnation of 40 acres tanked the value of the site for a proposed residential development.

  • June 01, 2020

    EPA Defends Easing Pollution Enforcement Policy For Virus

    The U.S. Environmental Protection Agency told a federal court that environmental groups suing it for relaxing how it handles pollution standards noncompliance during the coronavirus outbreak are seeking unreasonable relief for a hypothetical injury.

  • June 01, 2020

    EPA Finalizes Restraints On State, Tribal Water Permit Power

    The U.S. Environmental Protection Agency on Monday hobbled the authority of states and tribes to block projects like pipelines, export terminals and dams over Clean Water Act concerns, saying the power had been abused to unfairly restrict commerce.

  • June 01, 2020

    Justices Revive GE Unit's Arbitration Bid In Steel Plant Row

    The U.S. Supreme Court on Monday concluded that a French unit of General Electric Co. may be able to force arbitration of a multimillion-dollar dispute with an Alabama steel plant owner despite not signing an underlying arbitration agreement, reversing an Eleventh Circuit decision.

  • June 01, 2020

    Templar Energy Hits Ch. 11 Over COVID-19 Impact On Oil Price

    Oklahoma-based oil and gas driller Templar Energy filed for Chapter 11 protection in Delaware Monday with a plan to liquidate its assets after reeling from oil and gas price disruptions prompted by the COVID-19 pandemic.

  • June 01, 2020

    High Court Upholds Puerto Rico Financial Oversight Board

    The U.S. Supreme Court on Monday unanimously ruled that members of Puerto Rico's Financial Oversight and Management Board do not require U.S. Senate approval because the board's handling of the island's $125 billion bankruptcy is limited to Puerto Rico's fiscal issues and it only exercises local, territorial authority.

  • May 29, 2020

    5th Circ. Agrees With EPA's Review Of Exxon Refinery Permit

    The Fifth Circuit on Friday upheld the U.S. Environmental Protection Agency's decision not to oppose Exxon Mobil Corp.'s air pollution permit application to enlarge a Texas petrochemical plant, rejecting arguments the permit should have received more scrutiny.

  • May 29, 2020

    Corporate Bond Rush Brings A Big Wave Of Firsts

    The tidal wave of corporate debt offerings in recent months has enabled companies to raise billions in cash and gain much-needed breathing room to navigate the coronavirus pandemic, setting records and ushering in several first-of-their kind deals along the way.

Expert Analysis

  • Opinion

    Lawyers Must Address Racial Injustice With Radical Candor

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    The legal industry is uniquely positioned, and indeed obligated, to respond to the racial disparities made clear by the recent killings of George Floyd and Breonna Taylor, but lawyers must be willing to be uncomfortable, says Tiffani Lee at Holland & Knight.

  • Financial Strategies For Oil And Gas Cos. During The Slump

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    After the dramatic recent decline in oil and gas prices, industry participants and investors must look to history for strategies to address higher costs of capital, valuation challenges, increasing financial distress, potential bankruptcies and the prospect of contract disputes, say consultants at Cornerstone Research.

  • How Lawyers Can Network Better, Virtually And In Person

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    The current decrease in formality and increase in common ground due to the work-from-home environment can make it easier to have a networking conversation, says Megan Burke Roudebush at Keepwith.

  • Practical Tips For Presenting Your Case To Litigation Funders

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    One mistake that attorneys commonly make when presenting a case to a third-party funder is focusing almost exclusively on liability and giving short shrift to the damages analysis — resulting in an aspirational damages estimate that falls apart under scrutiny, say Cindy Ahn and Justin Maleson at Longford Capital and Casey Grabenstein at Saul Ewing.

  • Compliance Tips For Development Bank COVID-19 Projects

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    Companies that bid on projects financed wholly or in part by multilateral development banks to combat the crises caused by the pandemic must have appropriate anti-corruption mechanisms in place to limit the risks of sanctions investigations several years down the road, say Lauren Muldoon and Spencer Bruck at Orrick.

  • Avoiding Inadvertent Privilege Waivers In E-Communications

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    Attorneys at WilmerHale highlight recent developments in privilege law, the significant challenges raised by nontraditional working arrangements popularized during the pandemic, and ways to avoid waiving attorney-client privilege when using electronic communications.

  • Opinion

    Keystone XL Ruling Paralyzes Infrastructure Permit Process

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    A Montana federal judge's recent ruling revoking water permits for the Keystone XL pipeline and imposing a nationwide moratorium on dredging and filling operations by the U.S. Army Corps of Engineers seriously undermines a tried and true regulatory process, say Tom Magness at Grow America's Infrastructure Now and Patrice Douglas at Spencer Fane.

  • Opinion

    Don't Cancel Your Summer Associate Programs

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    While pulling off an effective summer associate program this year will be no easy feat, law firms' investments in their future attorneys should be considered necessary even during this difficult time, says Summer Eberhard at Major Lindsey.

  • 5 Ways To Reduce Post-Pandemic Legal Malpractice Exposure

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    History suggests that legal malpractice claims will rise following the current economic downturn, and while a certain percentage of the claims will be unavoidable, there are prophylactic steps that law firms can take, says John Johnson at Cozen O'Connor.

  • Risk Management Concepts For Public-Private Crisis Projects

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    As businesses new to public-private partnerships consider coronavirus-related disaster relief contracts, there are a number of issues general counsel and chief risk officers for these companies should consider that need not be a serious burden on operations, says Jordan Strauss at Kroll.

  • NY Order Kicks Power Grid Modernization Into High Gear

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    The New York Public Service Commission's recent order directing investor-owned utilities to rapidly review their distribution and local transmission infrastructure represents a turning point in the state's efforts to update its electric grid for green energy — so interested stakeholders must weigh in soon, says Kevin Blake at Phillips Lytle.

  • Opinion

    Credibility Concerns About Virtual Arbitration Are Unfounded

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    Concerns that videoconferenced arbitration hearings compromise an arbitrator's ability to reliably resolve credibility contests are based on mistaken perceptions of how many cases actually turn on credibility, what credibility means in the legal world, and how arbitrators make credibility determinations, says Wayne Brazil at JAMS.

  • Opinion

    COVID-19 Relief Should Include Federal Infrastructure Bill

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    To create jobs and address the country's $4.5 trillion infrastructure backlog, the federal government should enact coronavirus relief directed at infrastructure investment, leveraged by the allocation of funds for public-private partnerships, say Andrej Micovic and Eric Singer at Bilzin Sumberg.

  • The Challenge Of Measuring Pipelines' GHG Footprints

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    The Federal Energy Regulatory Commission is frequently asked to require natural gas pipelines to evaluate effects on greenhouse gas emissions, with implications for project approval, but it is not easy to calculate the climate impact of a given pipeline, says David Harrison at NERA.

  • A Lawyer's Guide To Client Service Continuity Planning

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    Ensuring uninterrupted client service and compliance with ethical obligations in a time when attorneys are more likely to fall ill means taking six basic — yet often ignored — steps to build some redundancy and internal communication into legal practice, say attorneys at Axinn.

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