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Project Finance

  • September 21, 2018

    Calif. Gov. Signs Wildfire Bills, Limiting PG&E Liability

    California Gov. Jerry Brown signed a package of bills Friday that aim to help the state prevent and recover from catastrophic wildfires, including a controversial bill that critics call a bailout for Pacific Gas and Electric Co. but that its author says is needed to save the liability-burdened utility from bankruptcy.

  • September 21, 2018

    Barrick Gold Escapes Investor Class Action Over Mine Spill

    A New York federal judge granted Barrick Gold Corp.’s motion to dismiss a class action claiming the company misstated problems that led to a chemical spill at its Veladero mine in Argentina, finding the company’s allegedly misleading public statements were either forward-looking or not inherently false.

  • September 21, 2018

    New EB-5 Fraud Suit Against Fla. Man Targets Condo Project

    A Florida man is once again facing accusations of EB-5 visa program fraud after a group of Chinese investors accused him of stealing their funds after throwing around promises for a condominium development that ultimately remained unimproved and empty, causing their petitions for U.S. residency to be denied.

  • September 21, 2018

    7th Circ. Got Nuke Subsidy Ruling Wrong, Power Cos. Say

    Independent power producers on Friday said the Seventh Circuit issued a legally flawed decision backing Illinois' program propping up struggling nuclear power plants, but added that they haven't yet decided if they will seek rehearing or will appeal the ruling to the U.S. Supreme Court.

  • September 21, 2018

    Landowner Seeks 10th Circ. Redo Of Okla. Drill Permit Suit

    An Oklahoma landowner has asked the Tenth Circuit to rehear his suit claiming the U.S. Bureau of Indian Affairs let an energy exploration company drill on his land without an environmental review, saying a circuit panel erred in finding that the statute of limitations barred him from filing suit.

  • September 21, 2018

    Potential Investors Abandon Talks To Buy Navajo Coal Plant

    Two companies that had been in talks with the Navajo Nation and the Hopi Tribe about taking over the ownership and operation of the coal-fired Navajo Generating Station abandoned that effort Thursday, leaving the tribes still in search of a buyer before the plant’s scheduled shutdown next year.

  • September 21, 2018

    Fluor Says Westinghouse Owes It $247M In Project Fees

    Engineering and construction giant Fluor Enterprises Inc. on Friday urged a New York bankruptcy court to order Westinghouse Electric to hand over roughly $247 million in allegedly unpaid fees stemming from a pair of nuclear reactor projects, months after the nuclear power company tried to dodge the claims.

  • September 21, 2018

    Sempra Charts Green Energy Exit With $1.5B Con Ed Deal

    Sempra Energy agreed Thursday to sell a U.S. renewable energy unit to Consolidated Edison Inc. for $1.54 billion, part of an asset divestment plan unveiled in June amid activist investor pressure that will see Sempra exit the U.S. renewable project business.

  • September 21, 2018

    Taxation With Representation: Gibson, Hogan Lovells, Mayer

    In this week’s Taxation with Representation, Enbridge simplified its corporate structure with $7.1 billion in deals, Adobe bought Marketo for $4.75 billion, Univar snapped up Nexeo for $2 billion, and Western & Southern Financial Group acquired Gerber Life Insurance for $1.6 billion.

  • September 20, 2018

    Energy Storage Must Fully Reap Tax Credit, Sens. Say

    Sens. Michael Bennet, D-Colo., and Tim Scott, R-S.C., on Thursday pressed Secretary of Treasury Steve Mnuchin to confirm that energy storage technologies qualify for the federal investment tax credit when used to retrofit existing solar projects and other technologies receiving the ITC.

  • September 20, 2018

    EU Finds Italy In Hot Water Over Port Project Grants

    Italy broke European state aid rules by granting the Naples port authority €44 million ($52 million) to refurbish the city’s dry docks for the benefit of the country’s shipbuilding industry, but delays in collecting port concession fees didn’t violate rules, the EU said Thursday.

  • September 20, 2018

    Enviros Fight Revamped Federal Permits For $5B Pipeline

    Environmental groups have launched Fourth Circuit challenges to revised permits issued by U.S. Department of Interior agencies for the $5 billion Atlantic Coast gas pipeline, claiming the new permits suffer from similar flaws as the ones previously invalidated by the appeals court.

  • September 20, 2018

    Norris McLaughlin Adds Ex-Top Atty At Housing Agency

    Norris McLaughlin PA has added as senior counsel to its real estate and finance practice group the former top lawyer at the Newark Housing Authority who took part in what she called a “real estate renaissance” in New Jersey’s largest city.

  • September 20, 2018

    Norton Rose Flees Power Plant Finance Co.'s Malpractice Suit

    A New York state judge dismissed a legal malpractice suit against Norton Rose Fulbright US on Thursday, saying a power plant finance company “flatly contradict[ed]” itself on key details about when its relationship with a predecessor of the law firm soured.

  • September 19, 2018

    Fla. Enviros Want Order Freeing Land Buying Funds Enforced

    Environmental groups that won a state court judgment in June finding Florida misspent hundreds of millions of dollars in conservation land acquisition funds asked the Tallahassee circuit court Wednesday to lift a stay on the judgment while the state appeals.

  • September 19, 2018

    Trump Methane Rollbacks Hand Regulatory Reins To States

    The rollback of Obama-era restrictions on venting and flaring from gas wells on federal and tribal lands is the latest sign the Trump administration intends to hand off the job of regulating methane emissions to states, some of which are expected to be lax while others may craft more stringent methane rules, experts say.

  • September 19, 2018

    Millbank Tweed Project Finance Atty Joins Greenberg Traurig

    A former Millbank Tweed Hadley & McCloy LLP senior associate has jumped to Greenberg Traurig LLP’s Chicago office, where she’ll join the institutional private placement finance team, the firm has announced.

  • September 19, 2018

    Cheniere Tells Texas Judges To Allow Foreclosure In LNG Row

    Cheniere Energy Inc. had the contractual right to initiate foreclosure proceedings against a business partner's subsidiary after it failed to pay back a $46 million loan, and a trial court wrongly enjoined it from doing so, a Texas appellate court was told in oral arguments in Houston on Wednesday.

  • September 19, 2018

    EPA Asks 5th Circ. To Uphold Effluent Rule Delay

    The U.S. Environmental Protection Agency has asked the Fifth Circuit to uphold its decision to postpone parts of an Obama-era rule that set limits on how much toxic metal can be discharged with power plants’ wastewater, an action environmental groups have said is illegal.

  • September 19, 2018

    Alaska Tells DC Circ. Not To Halt 'Roadless Rule' Case

    Alaska asked the D.C. Circuit not to pause an appeal in the state’s long-running challenge to the 2001 “roadless rule” aimed at limiting road construction in national forests, arguing that a rulemaking effort by the U.S. Department of Agriculture can’t address all its concerns.

Expert Analysis

  • Cloud Computing Clearly The Future For Small Firms

    Holly Urban

    While in-house technology investments on the scale and complexity needed to compete with large firms remain cost prohibitive for small and midsize law firms, cloud-based services offer significant cost savings and productivity gains with little to no capital investment, says Holly Urban of Effortless Legal LLC.

  • Key Trends In Midstream Oil And Gas Deals: Part 2

    Greg Krafka

    A deep dive into data on deal terms in midstream oil and gas acquisition agreements reveals significant insights on “what’s market” and what's not in such deals. As compared to a broad cross-section of agreements across industries, the midstream M&A acquisition agreements studied generally allocated more of the risks — especially unknown risks — to buyers, says Greg Krafka of Winstead PC.

  • Leveraging Today's Lateral Associate Market

    Darin Morgan

    With the Milbank/Cravath pay scale once again equalizing compensation at many Am Law 100 firms, there is even more pressure for firms to differentiate themselves to top lateral associate candidates. This presents strategic considerations for both law firms and lateral candidates throughout the recruitment process, says Darin Morgan of Major Lindsey & Africa.

  • Key Trends In Midstream Oil And Gas Deals: Part 1

    Greg Krafka

    The Private Target Mergers & Acquisitions Deal Points Studies prepared by the American Bar Association’s Business Law Section have been a key resource for M&A attorneys for over a decade. In this two-part article, Greg Krafka of Winstead PC examines data from the most recent study and other sources to systematically identify “what’s market” concerning deal terms in midstream oil and gas acquisition agreements.

  • New UK And US Regimes May Deter Foreign Investment

    Robert Bell

    Newly proposed U.K. rules and the amended regime for the Committee on Foreign Investment in the United States will radically change how the two governments review sensitive transactions, which will affect the likelihood of deal clearance, deal timing and the drafting of appropriate contractual provisions, say Robert Bell and Jennifer Mammen of Bryan Cave Leighton Paisner LLP.

  • Q&A

    Back To School: Stanford's Jeff Fisher Talks Supreme Court

    Jeffrey Fisher

    In this series featuring law school luminaries, Stanford Law School professor Jeffrey Fisher discusses his motivation for teaching, arguing before the U.S. Supreme Court and what the court might look like if Judge Brett Kavanaugh is confirmed.

  • Clearing Up Some Pipeline Permit Questions At 3rd Circ.

    Deidre Duncan

    Two recent decisions from the Third Circuit — Delaware Riverkeeper and Township of Bordentown — indicate that resolving questions related to state appeals of pipeline project permits will ultimately turn on the particulars of the state administrative process, say Deidre Duncan and Clare Ellis of Hunton Andrews Kurth LLP.

  • Calif.'s New Rules For Lawyers Move Closer To ABA Model

    Mark Loeterman

    The first comprehensive overhaul of California's Rules of Professional Conduct in nearly 30 years becomes operational on Nov. 1. Some of the new rules mirror the model language used by the American Bar Association, but many continue to reflect California’s unique approach to certain ethical questions, says Mark Loeterman of Signature Resolution LLC.

  • Know The Limits To Atty Public Statements During A Trial

    Matthew Giardina

    The balancing act between protecting attorneys’ speech rights and ensuring unbiased adjudications was highlighted recently in two cases — when Michael Cohen applied for a restraining order against Stephanie Clifford's attorney, and when Johnson & Johnson questioned whether a Missouri talc verdict was tainted by public statements from the plaintiffs' counsel, says Matthew Giardina of Manning Gross & Massenburg LLP.

  • In Calif., Questions Remain On Law Firm Conflict Waivers

    Richard Rosensweig

    In Sheppard Mullin v. J-M Manufacturing Co., the California Supreme Court ruled last month that a law firm's failure to disclose a known conflict with another current client did not categorically disentitle the firm from recovering fees. But the court didn’t provide hoped-for guidance on how to write an enforceable advance conflict waiver, says Richard Rosensweig of Goulston & Storrs PC.