Project Finance

  • February 20, 2024

    Developers Deny 'Shell Game' Amid Push For More Sanctions

    Real estate developers facing potential imprisonment over their failure to pay EB-5 investors at least $26 million in settlement and sanction judgments have told an Illinois federal court their money is not hidden in a "shell game" but rather tied up in receivership proceedings the investors already know about.

  • February 20, 2024

    5th Circ. Seeks Texas Justices' Input On LNG Permit Fight

    The Fifth Circuit has yanked its prior ruling that scrapped an emissions permit issued by Texas environmental regulators for a proposed liquefied natural gas terminal, saying it wants the state's Supreme Court to weigh in on how to define the best available pollution control technology under Texas law.

  • February 20, 2024

    DC Circ. Says FERC Fight Over 'Onshore' Meaning Is Moot

    The D.C. Circuit has dumped a fight between the Federal Energy Regulatory Commission and an advocacy group concerning whether the agency has jurisdiction over facilities that transport liquefied natural gas to port via truck, saying the dispute is moot because the proposed facility in question isn't being built.

  • February 20, 2024

    FERC Greenlights $6.7B Vistra-Energy Harbor Merger

    The Federal Energy Regulatory Commission has approved a $6.7 billion proposed merger between Vistra Corp. and Ohio-based Energy Harbor LLC after taking extra time to review the tie-up amid competition concerns from both federal antitrust officials and state consumer advocates.

  • February 20, 2024

    Cozen O'Connor Hires Ex-Eckert Seamans Public Finance Atty

    Philadelphia-based Cozen O'Connor said Tuesday it has hired a former finance attorney from Eckert Seamans Cherin & Mellott LLC for its public and project finance practice.

  • February 20, 2024

    Validity Of $2B Venezuelan Bonds Remains Unresolved In NY

    New York's highest court on Tuesday cleared a path for Venezuela's state-owned oil company to argue that nearly $2 billion in defaulted bonds are invalid under its domestic law, saying the validity question can now be answered by the federal courts.

  • February 16, 2024

    6th Circ. Rejects FirstEnergy Objector's Appeal In $180M Case

    The Sixth Circuit on Friday rejected an appeal from a FirstEnergy investor who was holding up a $180 million settlement in a derivative suit seeking to hold the utility company responsible for its involvement in a $1 billion bribery scandal.

  • February 16, 2024

    4th Circ. Won't Rethink Overturning Bid-Rigging Conviction

    The Fourth Circuit declined to reconsider a panel ruling that overturned a former Contech executive's bid-rigging conviction, despite the U.S. Department of Justice's contention that the decision flouts long-standing precedent.

  • February 16, 2024

    Up Next At High Court: Deadlines, Delivery Drivers & Smog

    The U.S. Supreme Court will be closed Monday for Presidents Day and will begin a short oral argument week on Tuesday, during which the justices will consider the deadlines for challenging a federal agency's action and bringing copyright infringement claims.

  • February 16, 2024

    FERC Rejects Hydro Project Permits Amid Tribal Opposition

    The Federal Energy Regulatory Commission has denied preliminary permits for three proposed hydropower projects on Navajo Nation land in Arizona, saying a recently revised policy clarifying Indigenous rights in the agency's decision-making process and the tribe's overwhelming opposition to the applications swayed the decision.

  • February 16, 2024

    Clean Energy Cos. Must Pay Heed To PFAS Crackdown

    The clean energy industry shouldn't downplay the growing scrutiny over so-called forever chemicals, many of which are present in key components of their projects and can't be easily replaced, attorneys say.

  • February 16, 2024

    Canada Liable Under NAFTA For Axed LNG Project, Co. Says

    A U.S. company that invested at least $120 million in a since-thwarted liquefied natural gas project maintained that Canada is liable for $1 billion in damages for breaches of the North American Free Trade Agreement, and that the International Centre for Settlement of Investment Disputes has jurisdiction over its claims.

  • February 16, 2024

    Feds Tell 1st Circ. Mass. Wind Farm Approval Was Sound

    The federal government has said a Massachusetts federal judge properly dumped a challenge lodged by commercial fishing groups seeking to upend federal approvals of the Vineyard Wind project, telling the First Circuit that the record shows federal agencies thoroughly studied the project's potential impacts.

  • February 16, 2024

    Ape Farm Says Ga. Officials Monkeying With $300M Bond Deal

    The company behind a proposed — and highly controversial — 1.75 million-square-foot monkey rearing facility in southwest Georgia has taken its fight against local officials to federal court, accusing a development authority of trying amid public outcry to back out of a $300 million bond deal to finance the project.

  • February 16, 2024

    Taxation With Representation: Paul Weiss, Kirkland

    In this week's Taxation With Representation, Diamondback buys Endeavor, KKR & Co. acquires a stake in Cotiviti, and Gilead Sciences Inc. purchases CymaBay Therapeutics Inc.

  • February 15, 2024

    FERC Churn Won't Impact Grid Policy Push, Chair Says

    A looming commissioner departure that could leave the Federal Energy Regulatory Commission without enough members to fully function is not affecting efforts to finalize a long-awaited overhaul of the agency's electric transmission planning policies, Chair Willie Phillips said Thursday.

  • February 15, 2024

    Baker McKenzie Can't Send Malpractice Suit To London

    An Illinois state appeals court has rejected a push by Chicago-based Baker McKenzie to transfer to London a legal malpractice suit accusing the international law firm of botching a client's bid to reacquire a coal mine in Russia, saying in a 2-1 decision that Cook County has an interest in deciding the case even if the alleged misconduct stems from attorneys in a Russian member firm.

  • February 15, 2024

    New York Says Thruway Doesn't Cut Through Cayuga Land

    New York state officials are asking a federal district court to dismiss litigation by the Cayuga Nation that seeks a cut of the tolls collected on the New York State Thruway, arguing that the tribe can't prove it had possession of the land over which the highway was being built.

  • February 15, 2024

    DOI Inks Klamath Basin Agreement With Tribes, Water Users

    The U.S. Department of the Interior said it has struck an agreement that will see water users and tribes work together in a push to improve the environment and water supplies in the drought-prone Klamath River Basin of southern Oregon and northern California, pledging $72 million for projects.

  • February 14, 2024

    USDA Says $20M Will Help Tribes Access Climate Market

    Federally recognized tribes and Alaska Native corporations and villages are getting a $20 million bump to broaden their access to emerging climate markets as a way to address ongoing climate change, the U.S. Department of Agriculture said on Wednesday.

  • February 14, 2024

    Network Group Wants Faster Access To Utility Poles

    Federal regulators must push for further reforms in order to expedite talks between utility pole owners and high-speed equipment attachers on how to divvy up pole upgrade costs, a broadband trade group said.

  • February 14, 2024

    FCC Must Distribute School IT Funds, Tech Firms Tell DC Circ.

    Two tech companies are calling on the D.C. Circuit to force the Federal Communications Commission to release funds to pay for information technology and broadband services the firms provide in elementary and secondary schools around the country.

  • February 14, 2024

    Investors Urge Prison As Developers Seek More Briefing Time

    Two real estate developers on Wednesday asked for more time to respond to EB-5 investors' request that they be imprisoned for hiding their money instead of paying overdue settlements and sanctions judgments, telling an Illinois federal judge their attorney wrote down the court's deadline incorrectly.

  • February 14, 2024

    Energy Co. Says Tribal Court Being Used To Duck $12M Award

    Merit Energy Operations is asking a federal district court to block two Wyoming tribes from using the tribal judicial system to vacate a $12.6 million arbitration award against them, saying the move is a blatant attempt to escape the ultimate result in the case.

  • February 14, 2024

    Spain Says €23.5M Award To Japanese Co. Can't Be OK'd

    Spain is urging a D.C. federal court to nix a Japanese investor's petition to enforce a €23.5 million ($25.2 million) arbitral award it won after Madrid dialed back economic incentives for renewable energy projects, arguing that doing so would force the country to violate European Union law.

Expert Analysis

  • NHTSA Fuel Proposal May Boost EVs — Given More Chargers

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    The National Highway Traffic Safety Administration's recently proposed revised fuel economy standards may spur automakers to further advance development and sales of electric and hydrogen fuel cell vehicles — but only if consumer concerns over inadequate infrastructure are addressed, say Levi McAllister and Mark Fanelli at Morgan Lewis.

  • Series

    The Pop Culture Docket: Judge Elrod On 'Jury Duty'

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    Though the mockumentary series “Jury Duty” features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.

  • What Legal Personhood For DAOs Means For Crypto Industry

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    A California federal court's recent ruling in U.S. Commodity Futures Trading Commission v. Ooki DAO that a decentralized autonomous organization is a legal person, despite lacking a centralized coordinating authority, has several potentially significant implications for decentralized finance, say Jeffry Henderson and Douglas Arend at Greenberg Traurig.

  • 4 Business-Building Strategies For Introvert Attorneys

    Excerpt from Practical Guidance
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    Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.

  • Chinese Investment In Latin America Raises Corruption Risks

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    A wave of Chinese investments in Latin America has increased an already elevated risk profile, so U.S. companies that operate in the region would be wise to bolster their compliance programs as more bribery and corruption-related enforcement activity is sure to come, say Drew Costello, Brian Ross and Jordan Basich at Forensic Risk Alliance.

  • Opinion

    3 Ways Justices' Disclosure Defenses Miss The Ethical Point

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    The rule-bound interpretation of financial disclosures preferred by U.S. Supreme Court Justices Samuel Alito and Clarence Thomas — demonstrated in their respective statements defending their failure to disclose gifts from billionaires — show that they do not understand the ethical aspects of the public's concern, says Jim Moliterno at the Washington and Lee University School of Law.

  • Counterfactual Models: A Key Tool In Energy Price Disputes

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    The Federal Energy Regulatory Commission's recent review of penalties assessed by PJM Interconnection during Winter Storm Elliott is just one example of how estimating the behavior of energy markets in counterfactual scenarios is an essential tool for settling contractual and regulatory disputes, say Kivanç Kirgiz and Manuel Vasconcelos at Cornerstone Research, and independent consultant Roy Shanker.

  • Generator, Utility Challenges After FERC Connection Revamp

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    The Federal Energy Regulatory Commission's recently issued Order No. 2023 requires major changes to the process by which power generators connect to transmission providers, and while it should help better integrate new renewable energy sources, many generators and utilities will face challenges during the transition, say Eric Runge and Margaret Czepiel at Day Pitney.

  • 5 Compliance Mistakes To Avoid When Entering A New Market

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    As many companies move their value chains out of China or expand to new markets for other reasons, they should beware several common compliance pitfalls — such as insufficient due diligence and one-size-fits-all training — to avoid reputational, financial and legal damage, says Alexandra Wrage at TRACE International.

  • Mitigating Risk In US Liquefied Natural Gas Contracts

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    Recent increases in demand for liquefied natural gas in both European and Asian markets will present logistical, economic and legal challenges for suppliers, which will need to mitigate risks posed by both short-term and long-term contracts, says C. Thomas Kruse at Arnold & Porter.

  • Caregiver Flexibility Is Crucial For Atty Engagement, Retention

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    As the battle for top talent continues post-pandemic, many firms are attempting to attract employees with progressive hybrid working environments — and supporting caregivers before, during and after an extended leave is a critically important way to retain top talent, says Manar Morales at The Diversity & Flexibility Alliance.

  • How High Court Is Assessing Tribal Law Questions

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    The U.S. Supreme Court's four rulings on tribal issues from this term show that Justice Neil Gorsuch's extensive experience in federal Native American law brings helpful experience to the court but does not necessarily guarantee favorable outcomes for tribal interests, say attorneys at Dorsey & Whitney.

  • Even Without US, Deep-Sea Mining Rules Likely To Prevail

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    While the U.S. was absent from the International Seabed Authority's recent meeting in Jamaica, and has not ratified the United Nations Convention on the Law of the Sea, it seems increasingly clear that the ISA's forthcoming deep-sea mining regime will become a global framework of reference, say Louise Woods and Elena Guillet at V&E.

  • In-Office Engagement Is Essential To Associate Development

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    As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.

  • Trends Emerge In High Court's Criminal Law Decisions

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    In its 2022-2023 term, the U.S. Supreme Court issued nine merits decisions in criminal cases covering a wide range of issues, and while each decision is independently important, when viewed together, key trends and takeaways appear that will affect defendants moving forward, says Kenneth Notter at MoloLamken.

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