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Project Finance

  • August 8, 2018

    SoCalGas Reaches $119.5M Deal In Calif. Gas Leak Litigation

    Southern California Gas Co. has agreed to a proposed $119.5 million deal to end state litigation from the California Air Resources Board and the city and county of Los Angeles over the huge Aliso Canyon gas leak, the company and local officials announced on Wednesday.

  • August 8, 2018

    Texas Court Affirms $16M Mexico Power Plant Arbitration Win

    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.

  • August 8, 2018

    Enviros See Claims Trimmed In Highway Project Challenge

    An Illinois federal judge threw out the bulk of claims brought by an environmental group challenging various government agencies' conclusion that a $115 million highway and bridge project would not adversely affect the endangered rusty patched bumble bee.

  • August 8, 2018

    3 Firms Steer Starwood's $2.6B GE Energy Finance Biz Deal

    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.

  • August 7, 2018

    Economist Urges DOI To Rethink Climate Cost Of Coal Leases

    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.

  • August 7, 2018

    Level Solar Grilled By Court Over Ch. 11 Case Progress

    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.

  • August 7, 2018

    Most Of Obama Oil And Gas Royalty Rule Kept By Wyo. Judge

    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.

  • August 7, 2018

    DC Circ. Keeps Helmerich Unit Out Of Rig Seizure Suit

    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.

  • August 7, 2018

    FERC Says NY Officials Too Late On $455M Pipeline Permit

    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.

  • August 6, 2018

    FERC Halts Construction Of $3.5B Mountain Valley Pipeline

    The Federal Energy Regulatory Commission on Friday ordered nearly all construction work stopped on the $3.5 billion Mountain Valley pipeline, citing a recent Fourth Circuit decision that erased federal government approval for parts of the project.

  • August 6, 2018

    Red Stone Equity Closes $144M Real Estate Fund

    Red Stone Equity Partners LLC has closed a $144 million Low Income Housing Tax Credit fund, proceeds from which will be used to finance construction or renovation of affordable housing properties across the United States, according to an announcement on Monday from Red Stone Equity.

  • August 6, 2018

    Rosneft Faces Arbitration From ExxonMobil Over $1.4B Claim

    An ExxonMobil subsidiary has reinstated arbitration to fend off a nearly $1.4 billion claim filed in a Russian court by the majority state-owned energy company Rosneft, which stems from a dispute relating to a large-scale offshore oil project, according to a statement.

  • August 6, 2018

    San Diego Airport Fights Fees In Hertz Suit Against Port

    The San Diego airport authority has intervened in a case brought by Hertz and Enterprise against the city’s Port District, asking the Superior Court of California to invalidate a user fee on car rental companies, block the port from charging any additional fees on airport property and compel the port to return all fees collected on its property.

  • August 6, 2018

    Ex-Employees' SunEdison Stock-Drop Suit Nixed Again

    A New York federal judge on Monday again nixed a suit by former employees of SunEdison Inc. claiming executives of the now-bankrupt renewable energy giant continued to sell stock in spite of its imminent collapse, saying the employees hadn't adequately alleged the executives breached their fiduciary duty.

  • August 6, 2018

    Landowner Can't Revive Okla. Drill Permit Suit At 10th Circ.

    A Tenth Circuit panel on Monday largely backed a lower court's decision to toss a suit brought by an Oklahoma landowner over claims that the U.S. Bureau of Indian Affairs let an energy exploration company drill on his land without an environmental review, saying the claims against the government are untimely.

  • August 6, 2018

    Park Service Permit For $5B Pipeline Vacated By 4th Circ.

    The Fourth Circuit on Monday nixed the National Park Service's approval of a portion of the $5 billion Atlantic Coast gas pipeline, saying the agency failed to show how a right-of-way allowing the pipeline to cross the Blue Ridge Parkway was consistent with the purposes of the national park system.

  • August 6, 2018

    Pa. Justices Order Redo In Residential Drilling Challenge

    In the wake of a major revitalization of Pennsylvania's constitutionally enshrined environmental protections, the state's Supreme Court is ordering a lower court to reconsider its decision upholding a Butler County municipality's ordinance expressly allowing oil and gas drilling in residential and agricultural areas.

  • August 6, 2018

    First Reserve Sells Oil, Gas Co. To Kosmos For $1.2B

    Energy-focused private equity firm First Reserve Corp. inked a cash-and-stock deal to sell the Deep Gulf Energy companies to Dallas-based Kosmos Energy Ltd. for $1.23 billion, the companies announced separately Monday.

  • August 6, 2018

    FCC Eyes Later Deadline For Challenging Coverage Maps

    The chairman of the Federal Communications Commission has asked his fellow commissioners to push back the deadline for certain groups to challenge coverage maps that determine which rural and underserved parts of the country are eligible for subsidies to boost mobile broadband.

  • August 3, 2018

    DHS Hub To Offer Cybersecurity Boost, But Cos. Still Exposed

    The U.S. Department of Homeland Security's recent decision to open a center dedicated to tackling cyberthreats directed at critical infrastructure is likely to help expand vital communication channels between the public and private sectors, but lingering concerns over liability protections could limit the initiative's ultimate effectiveness, attorneys say.

Expert Analysis

  • New Stats On Millennial Attorney Disciplinary Actions

    Jean Edwards

    In this analysis of disciplinary action trends in the legal industry, Edwards Neils LLC managing member Jean Edwards examines data provided by bar organizations for 17 states and the District of Columbia.

  • Limiting Law Firms' Professional Liability Risks: Part 2

    Stuart Pattison

    With law firms increasingly exposed to professional liability risks associated with their corporate client relationships, firms must craft well-structured client engagement letters to help protect against malpractice claims. Two key elements of an engagement letter are how it defines the scope of engagement and how it handles conflicts of interest, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.

  • Series

    From Lawmaker To Lawyer: Prioritizing Is Always Key

    Joe Lieberman

    Today, members of Congress often seem able to blame colleagues of the other party for not getting anything done for their constituents. In law practice, you can’t really blame a bad result for your clients on the lawyers on the other side, says former Sen. Joe Lieberman, D-Conn., of Kasowitz Benson Torres LLP.

  • Limiting Law Firms' Professional Liability Risks: Part 1

    Stuart Pattison

    Corporate law departments are increasingly demanding more concessions from outside legal counsel, and presenting engagement letters that open the door to greater professional and cyber liability exposure for law firms — often beyond the scope of their insurance coverage. Firms must add their own language to engagement letters to limit liability, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.

  • Series

    From Lawmaker To Lawyer: How Congress Affected My Career

    Yvonne B. Burke

    Being a former member of Congress put me in an advantageous position when I approached law firms in the late '70s, at a time when there were few female lawyers, and even fewer African-American lawyers, in major law firms, says former Rep. Yvonne B. Burke, D-Calif., a director of Amtrak.

  • Are OCC's Reserve-Based Lending Guidelines Enforceable?

    Buddy Clark

    Following the Government Accountability Office's determination that the Interagency Guidance on Leveraged Lending did not comply with the Congressional Review Act, it would appear that the binding nature of the Office of the Comptroller of the Currency's handbook for oil and gas reserve-based loans should be similarly questioned, says Buddy Clark of Haynes and Boone LLP.

  • Tax-Friendly Docs Can Lower Renewable Energy Project Costs

    David Burton

    Many developers of renewable energy projects have experienced higher than expected transaction costs. One all-too-common reason is project documents that cause tax tensions, says David Burton of Mayer Brown LLP.

  • EPA Rule Changes Signal Divergence Of Federal, State Regs

    Benjamin Patton

    Last month, the U.S. Environmental Protection Agency published a proposed rule rolling back Obama-era requirements for facilities handling hazardous substances. Some western states, meanwhile, have strengthened their own regulations in this area. Companies now contend with accident prevention and process safety regulations that are inconsistent, say Benjamin Patton and Mary Balaster of Reed Smith LLP.

  • Series

    From Lawmaker To Lawyer: DC Isn't As Bad As You Think

    Norm Coleman

    Popular culture paints the Hill as a place teeming with intrigue, corruption and malicious intent. But in Congress I learned important lessons about respecting people and the work they do, says former Sen. Norm Coleman, R-Minn., of Hogan Lovells.

  • How Trump Will Finance Federal Real Property Projects

    Peter Terenzio

    President Donald Trump plans to facilitate much-needed federal real property projects in part through a $10 billion “mandatory revolving fund.” Although it would provide a viable mechanism for agencies to fund certain infrastructure projects, there are aspects of the revolving fund that are unknown and should be considered, say attorneys with Covington & Burling LLP.