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Energy
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December 03, 2024
9th Circ. Affirms Circle K's Win In Gas Pricing Row
The Ninth Circuit upheld Circle K Stores' win against retail gas stations that accused the convenience chain of setting high gas prices in bad faith, finding Tuesday that Circle K's prices were "within the range" of those charged by its competitors and lower than at least one refiner.
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December 03, 2024
Willkie Adds Litigation Heavyweight, Energy Expert In DC
Willkie Farr & Gallagher LLP announced Tuesday that it has brought on two Washington, D.C., partners — a new chair for its regulatory litigation practice group who joined from King & Spalding LLP and an energy-focused finance attorney who joined from Greenberg Traurig LLP.
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December 03, 2024
Exelon Promotes Ex-FERC Commissioner To Top Legal Role
Utility company Exelon Corp. announced Tuesday that a former Reed Smith LLP partner and former member of the Federal Energy Regulatory Commission has been named its next chief legal officer, and also said it's also expanding the top legal role.
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December 03, 2024
Norton Rose Names US Corporate, M&A And Securities Head
Norton Rose Fulbright announced Tuesday that it has tapped a New York partner to co-lead its U.S. corporate, mergers and acquisitions, and securities team.
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December 03, 2024
Exelon Asks For Corp. AMT To Account For Repairs Deduction
Power companies should be allowed to account for an industry-specific tax deduction on repair costs to determine whether they're subject to the corporate alternative minimum tax, utility giant Exelon said in a comment letter to the U.S. Treasury Department released Tuesday.
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December 03, 2024
Texas Oil Driller Hits Ch. 11 With $207M Debt-Swap Plan
Oil and gas drilling services provider Independence Contract Drilling has filed for Chapter 11 protection in a Texas bankruptcy court with more than $230 million in debt and a prepackaged debt-swap restructuring plan.
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December 02, 2024
Russia Looks To 4 FSIA Cases In Bid To Stay $5B Award Suit
Russia urged a D.C. federal judge to pause a case against it by a Yukos Oil Co. unit seeking to enforce $5 billion in arbitral awards, saying Monday that four parallel Foreign Sovereign Immunities Act cases are pending before the Supreme Court and the D.C. Circuit that could affect the suit.
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December 02, 2024
Government Mole Faces Tough Cross From Madigan's Atty
An attorney for former Illinois House Speaker Michael Madigan got his chance Monday to question the ex-Chicago alderman who recorded his client while cooperating with the government, pushing him to admit that Madigan never explicitly conditioned his support on legal business for his law firm or told the alderman to vote against developers who didn't hire him for tax work.
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December 02, 2024
DC Circ. Asked To Spike 'Dangerous' NEPA Regulatons Ruling
Environmental groups are asking the D.C. Circuit to overturn a panel's "demonstrably dangerous" ruling that the White House Council on Environmental Quality lacks the authority to issue legally binding regulations implementing the National Environmental Policy Act.
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December 02, 2024
Remediation Co. Says Anadarko Can't Support Coverage Bid
An environmental remediation company urged a Texas federal court to deny Anadarko Petroleum Corp.'s bid for an early win in a dispute over coverage for a decade-old Louisiana kickback suit, saying the oil producer failed to show that it's entitled to a defense and indemnity.
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December 02, 2024
Porsche Taycan's EV Batteries Are Defective, Suit Says
Porsche Cars NA Inc. is facing a proposed class action in Georgia federal court over allegations that it failed to disclose or adequately repair a defect in the 800V lithium-ion batteries in its Taycan electric vehicles for the model years 2020-2024.
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December 02, 2024
Mining Cos. Ask Justices To Sink Peruvians' Pollution Claims
The Renco Group Inc., owned by U.S. billionaire Ira Rennert, has asked the U.S. Supreme Court to overturn an Eighth Circuit ruling that greenlit a lawsuit filed by more than 2,000 Peruvians who are seeking to hold The Renco Group and other companies liable for alleged lead poisoning tied to a smelting and refining complex in rural Peru.
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December 02, 2024
Chancery OKs $345M Fee Award For $55B Musk Pay Fight
Delaware's chancellor approved a $345 million attorney fee award Monday in the case that scuttled Tesla CEO Elon Musk's 10-year, $55.6 billion compensation plan, rejecting the plaintiff's bid for $5.6 billion in freely tradable company shares and declining to reinstate Musk's proposed pay.
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December 02, 2024
Solar Cos. Ask High Court To Review Vermont-Imposed Fine
Allco Renewable Energy Ltd. and several other companies pursuing a solar generation project in Bennington, Vermont, are asking the U.S. Supreme Court to wade into their row with the Vermont Public Utility Commission and hold that it had no authority to impose a civil penalty on them without a jury trial.
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December 02, 2024
PE Firms Swap Calisen Stake At Reported $5B Value
A majority stake in Calisen Group is changing hands in a private equity-backed deal that is said to value the British smart metering company at more than $5 billion, according to disclosures made Monday.
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December 02, 2024
3 Firms Guide UAE Food Delivery App's Landmark $2B IPO
Shares in Talabat, a food delivery app based in the United Arab Emirates, are set to begin trading next week following a $2 billion initial public offering that marked the largest global technology IPO this year, under guidance from three law firms.
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December 02, 2024
Va. Utility Co. Settles Worker's COVID Leave Suit
A Virginia utility company reached a deal to resolve a former worker's lawsuit alleging he was fired after asking to use federal medical leave due to complications from COVID-19, according to a filing in federal court.
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December 02, 2024
Shipping Industry Braces For Waves Of New Trump Tariffs
After a holiday weekend marked by a fresh round of tariff threats from President-elect Donald Trump, the shipping and logistics industry is beginning to feel the heat, warning companies to prepare for massive upheaval if Trump follows through.
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December 02, 2024
US Pitches $7.5B Loan To Stellantis-Samsung Battery Venture
The U.S. Department of Energy on Monday said it intends to lend up to $7.54 billion to back a pair of lithium-ion battery manufacturing facilities that a joint venture of Samsung SDI and automaker Stellantis NV is developing in central Indiana.
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November 27, 2024
Special Master In Citgo Sale Suit Goes Back To Drawing Board
The special master overseeing the sale of Citgo's parent company in a proceeding aimed at satisfying billions of dollars in Venezuelan debt has agreed to abandon his proposed sales plan after it became clear how little support it had garnered from creditors, he told a Delaware judge on Tuesday.
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November 27, 2024
Texas Tells 5th Circ. EPA Botched Ozone Compliance Orders
The state of Texas called on the Fifth Circuit to vacate part of a U.S. Environmental Protection Agency action requiring the state to revise its plan addressing "moderate" nonattainment of ground-level ozone standards for the Dallas, Houston and San Antonio areas, in light of the cities' upgrade to "serious" nonattainment.
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November 27, 2024
Arkansas Can't Bring Suit Against Crypto Miner For Now
An Arkansas federal judge has temporarily barred state officials from taking action against a Chinese-born U.S. citizen's crypto mining operation after he challenged the investigation against him and the laws underpinning it as discriminatory and unconstitutional.
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November 27, 2024
Gov't Contracts Of The Month: R&D, Boeing Jets And F-35s
This month, the U.S. Air Force added three companies to an ongoing $33 billion R&D deal, while Boeing scored two military aircraft production contracts and Lockheed Martin shook on it with the Pentagon for hundreds more F-35 fighter jets. These are Law360's most noteworthy government contracts for November 2024.
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November 27, 2024
GOP-Led States Accuse BlackRock Of Driving Up Coal Prices
Texas is leading a coalition of nearly a dozen Republican-led states suing BlackRock Inc. and two other large asset managers for allegedly running an "investment cartel" that takes advantage of their large holdings in publicly traded energy companies to drive up coal prices, a claim that BlackRock has said is "baseless and defies common sense."
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November 27, 2024
Illinois Top Court Will Decide Fate Of $7B Power Line Permit
The Illinois Supreme Court has agreed to review a lower court's decision striking state utility regulators' approval to build part of the $7 billion Grain Belt Express high-voltage transmission line.
Expert Analysis
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NYSE Delisting May Be The Cost Of FCPA Compliance
ABB’s recent decision to delist its U.S. depository receipts from the New York Stock Exchange, coupled with having settled three Foreign Corrupt Practices Act enforcement actions, begs the question of whether the cost of FCPA compliance should factor into a company's decision to remain listed in the U.S., says John Joy at FTI Law.
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CFTC Action Highlights Necessity Of Whistleblower Carveouts
The U.S. Commodity Futures Trading Commission's novel settlement with a trading firm over allegations of manipulating the market and failing to create contract carveouts for employees to freely communicate with investigators serves as a beacon for further enforcement activity from the CFTC and other regulators, say attorneys at Davis Wright.
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5 Tips For Solar Cos. Navigating Big Shifts In US Trade Policy
Renewable energy developers can best mitigate new compliance risks from the Office of the U.S. Trade Representative’s increased tariffs on imported solar cells, and simultaneously capitalize on Treasury Department incentives for domestic solar manufacturers, by following five best practices in the changing solar trade landscape, say attorneys at Morgan Lewis.
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Series
Being A Luthier Makes Me A Better Lawyer
When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.
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Half-Truths Vs. Omissions: Slicing Justices' Macquarie Cake
The U.S. Supreme Court's recent ruling in Macquarie v. Moab provides a road map for determining whether corporate reports that omit information should be considered misleading — and the court baked it into a dessert analogy that is key to understanding the guidelines, say Daniel Levy and Pavithra Kumar at Advanced Analytical Consulting Group.
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Lead Like 'Ted Lasso' By Embracing Cognitive Diversity
The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.
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3 Areas Of Enforcement Risk Facing The EV Industry
Companies in the EV manufacturing ecosystem are experiencing a boom in business, but with this boom comes increased regulatory and enforcement risks, from the corruption issues that have historically pervaded the extractive sector to newer risks posed by artificial intelligence, say attorneys at MoFo.
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Ambiguity Ruling Highlights Deference To Arbitral Process
A New York federal court’s recent ruling in Eletson v. Levona, which remanded an arbitral award for clarification, reflects that the ambiguity exception’s analysis is not static and may be applied even in cases where the award, when issued, was unambiguous, says arbitrator Myrna Barakat Friedman.
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Keeping Up With Carbon Capture Policy In The US And EU
Recent regulatory moves from the U.S. Environmental Protection Agency and the European Commission in the carbon capture, sequestration and storage space are likely to further encourage the owners and operators of fossil fuel-fired power plants to make decisions on shutdowns or reconfiguration to meet the expanding requirements, say Inosi Nyatta and Silvia Brünjes at Sullivan & Cromwell.
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New State Climate Liability Laws: What Companies Must Know
New legislation in Vermont and New York creating liability and compliance obligations for businesses deemed responsible for climate change — as well as similar bills proposed in California, Massachusetts and Maryland — have far-reaching implications for companies, so it is vital to remain vigilant as these initiatives progress, say Gregory Berlin and Jeffrey Dintzer at Alston & Bird.
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EU Investor-State Dispute Transparency Rules: Key Points
The European Union's recent vote to embrace greater transparency for investor-state arbitration will make managing newly public information more complex for all parties in a dispute — so it is important for stakeholders to understand the risks and opportunities involved, say Philip Hall, Tara Flores and Charles McKeon at Thorndon Partners.
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Despite Calif. Delays, Climate Disclosure Rules Are Coming
Progress continues on state, federal and international climate disclosure regimes, making compliance a key concern for companies — but the timeline for implementation of California's disclosure laws remains unclear due to funding and timing disputes, says David Smith at Manatt Phelps.
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Decoding Arbitral Disputes: Intra-EU Enforcement Trends
Hungary recently declared a distinct stance on the European Court of Justice's 2021 ruling in Moldavia v. Komstroy on intra-EU arbitration under the Energy Charter Treaty, highlighting a critical divergence in the bloc on enforcing investment awards and the complexities of balancing regional uniformity with international obligations, says Josep Galvez at 4-5 Gray's Inn.
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Opinion
Now More Than Ever, Lawyers Must Exhibit Professionalism
As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.
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What Happens After Hawaii Kids' Historic Climate Deal
Implications of the Hawaii Department of Transportation's first-of-its-kind settlement with youth plaintiffs over constitutional climate claims may be limited, but it could incite similar claims, says J. Michael Showalter and Robert Middleton at ArentFox Schiff.