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Project Finance
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April 10, 2024
Class Attys Seek Big Payday For $100M Pattern Energy Deal
Class attorneys are urging the Delaware Chancery Court to approve a $100 million settlement to end state and federal court litigation over Pattern Energy Group Inc.'s $6.1 billion go-private sale in 2020 and award them $26 million in fees for a deal they say is the largest of its kind in the Chancery's history.
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April 09, 2024
Crypto Booster Says $1B SEC Fraud Suit Offends Free Speech
The crypto founder known as Richard Heart told a federal judge in Brooklyn on Tuesday that the U.S. Securities and Exchange Commission violated his and others' free speech rights when it brought a case accusing him of selling $1 billion worth of unregistered digital asset securities across his projects and misappropriating customer assets.
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April 09, 2024
Ex-Ohio Utility Chair Dies As Criminal Charges Mount
The onetime chair of Ohio's utility regulator, who was accused of stealing money from FirstEnergy Corp. as part of a bribery scheme behind a controversial $1.3 billion bailout for two nuclear energy plants, died Tuesday in an apparent suicide, the Franklin County Coroner's Office confirmed.
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April 09, 2024
What's In The Norfolk Southern $600M Derailment Deal
Last year's fiery Norfolk Southern train derailment and toxic chemical spill in East Palestine, Ohio, reached a litigation milestone Tuesday with the disaster's first major settlement, a proposed $600 million deal with nearby residents and businesses, but the rail giant must still contend with a federal investigation and other lawsuits.
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April 09, 2024
Nikola Investors' SPAC Fraud Suit Moves Ahead
Board directors of electric truck maker Nikola Corp. and the blank-check company that took it public for $3.3 billion in 2020 must face shareholders' derivative claims of insider trading, securities fraud and merger-related breaches after Delaware's Court of Chancery on Tuesday denied more than half of the defense's motions to dismiss.
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April 09, 2024
FCC Decision On Subsidy Fund Likely Tough To Unravel
Public advocates are scrambling to reverse a Federal Communications Commission decision sparing broadband providers from helping pay for telecommunications subsidies even after the commission resurrects net neutrality rules that classify them as telecom providers.
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April 08, 2024
7th Circ. Won't Demolish Obama Center Approval
Federal agencies properly reviewed the environmental impacts of building the Obama Presidential Center in Chicago's Jackson Park, the Seventh Circuit ruled Monday, once again rejecting opponents' attempts to stop construction of the campus set to open in 2026.
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April 08, 2024
Mich. Regulators' Fraud Fears Are 'Nonsense,' Developer Says
A real estate developer has told Michigan's high court that the state is raising unfounded concerns that Michigan will become a haven for fraudsters if the top court does not adopt a federal judicially created test to determine when an investment is a security, telling the justices Michigan's own securities law is controlling.
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April 08, 2024
Tribes Say Army Corps Mistakes Their Claims In 5th Circ. Row
Two Native American tribes and a conservation group have told the Fifth Circuit that the U.S. Army Corps of Engineers and an Enbridge Inc. unit have intentionally mischaracterized their claims in litigation seeking to challenge the agency's permit authorization for a major oil terminal on Texas' Gulf Coast.
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April 08, 2024
Simpson Thacher Adds Milbank Energy Atty In LA
Simpson Thacher & Bartlett LLP is expanding its West Coast team, announcing Monday it is bringing in a Milbank LLP energy expert as a partner in its Los Angeles office.
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April 05, 2024
DC Circ. Says Gov't Changing Its Defense In Chinese Visa Row
A D.C. Circuit judge said Friday the federal government seemed to be changing its tune late in its defense of a district court judge's dismissal of a suit filed by three Chinese investors who'd tried to move ahead in the queue for EB-5 visas reserved for investors in infrastructure projects.
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April 05, 2024
Baltimore Bridge: Biden's Visit, Recovery, Supply Chain
Nearly two weeks after the Francis Scott Key Bridge's collapse, government and legal maneuvers are taking shape as the Biden administration pledged to fully reopen the Port of Baltimore before June, while the owner and operator of the ship that caused the collapse sought to limit its financial liability.
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April 05, 2024
Top 3 Groups Lobbying The FCC
The Federal Communications Commission heard from policy advocates more than 200 times in March, as the agency fielded concerns on net neutrality rules, bulk billing for internet service, broadband deployment, school connectivity and more.
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April 05, 2024
Miner Faces Mounting Financial Woes After Failed Arbitration
Nearly a month after losing its $4.4 billion arbitration against Romania over a blocked gold and silver mining project, Canadian mining company Gabriel Resources said Thursday that it's facing a major cash crunch as it continues to weigh its options to try to revive its claims.
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April 05, 2024
Nixon Peabody Adds 2 Attys From Hinckley Allen In Boston
A pair of attorneys have jumped to Nixon Peabody LLP in Boston after spending more than a decade working at Hinckley Allen & Snyder LLP.
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April 05, 2024
Ex-Cognizant Execs' Trial Moved Over Atty Schedule Woes
A New Jersey federal judge has agreed to reschedule the trial of two former Cognizant Technology Solutions executives accused of authorizing a bribe to an Indian official, answering the call by a Gibbons PC counsel who has another high-profile white-collar trial on his schedule the same day his Cognizant case client was also set to go before a jury.
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April 05, 2024
5th Circ. Won't Touch Texas Oil Export Terminal License
The Fifth Circuit has rejected environmentalists' attempt to undo federal approval for a deepwater oil export terminal off Texas' Gulf Coast, finding the U.S. Coast Guard adequately considered the environmental consequences of the facility in its environmental assessment.
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April 04, 2024
NY Congestion Pricing Judge Pleads For Predictability
New Jersey state and local governments fighting New York's congestion toll-pricing vision urged a federal judge on Thursday to order environmental justification for the plan, while the judge in turn implored all parties to rely more heavily on precedent and the law.
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April 04, 2024
ND Judge Tosses DAPL Protester's Claims Against Police
A North Dakota federal judge said he is dismissing claims a woman filed against police after suffering "horrific injuries" when she was hit by a flashbang during the Dakota Access Pipeline protests in 2016.
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April 04, 2024
Crypto Bank, Chair Blast FTX Investors' 'Gatling Gun' Claims
A crypto bank and its chairman have urged a Florida federal judge to toss a second amended complaint from FTX investors alleging they helped Sam Bankman-Fried abscond with $8 billion in customer assets, saying the investors "employ a Gatling gun approach to pleading."
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April 04, 2024
Broadband Providers Won't Pay Into Telecom Subsidy Fund
Broadband providers will not have to pay into the Federal Communications Commission's subsidy system even after being categorized as a telecom service under the FCC's net neutrality plan that was released Thursday.
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April 04, 2024
NTIA Knocks Out Enviro Hurdles For Broadband Permitting
The list of things that broadband deployment projects will have to conduct in-depth environmental assessments for is getting shorter after the National Telecommunications and Information Administration created 30 new "categorical exclusions" in the hopes of cutting red tape.
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April 04, 2024
MLB's Athletics To Play In Sacramento Before Move To Vegas
The Oakland Athletics will play the 2025 to 2027 seasons in Sacramento's 14,000-capacity minor-league ballpark while their planned stadium in Las Vegas is built, the franchise and Major League Baseball announced Thursday morning, officially making this season the team's last in Oakland after 57 years.
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April 04, 2024
Surfside, Fla., Condo Collapse Victims To Get Additional $4.8M
A Florida judge signed off Thursday on an additional $4.8 million distribution to the victims of the deadly collapse of the Champlain Towers South condominium after the receiver overseeing the defunct condominium association told the court the association had fewer financial obligations and tax liabilities than expected.
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April 04, 2024
Project Owners Eager To Sell Energy Tax Credits, Report Says
Project owners are pursuing new financing strategies that would support the early sale of their clean energy tax credits as more projects in their initial development stage this year seek to capitalize on the incentives as early as possible, a report released Thursday said.
Expert Analysis
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Calif. Climate Disclosure Laws: Next Steps For Companies
A trio of new climate disclosure laws in California will impose far-reaching corporate reporting requirements — so companies doing business in the state must immediately begin working to substantiate their climate claims and update marketing materials, and consider getting involved in rulemaking that will shape the legislation's impact, say attorneys at Alston & Bird.
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California's Offshore Turbine Plans Face Stiff Headwinds
To realize its innovative plans for floating offshore wind farms, California will face numerous challenges as companies investing in the industry will be looking for permitting transparency, predictable timelines, and meaningful coordination between jurisdictions, agencies, and stakeholders, say David Smith and David McGrath at Manatt.
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Attorneys, Law Schools Must Adapt To New Era Of Evidence
Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.
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Series
ESG Around The World: The UK
Following Brexit, the U.K. has adopted a different approach to regulating environmental, social and governance factors from the European Union — an approach that focuses on climate disclosures by U.K.-regulated entities, while steering clear of the more ambitious objectives pursued by the EU, say attorneys at Dechert.
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Tips For Litigating Against Pro Se Parties In Complex Disputes
Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.
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Contracts Disputes Recap: Expect Strict Application Of Rules
Zachary Jacobson and Sarah Barney at Seyfarth examine four recent cases highlighting the importance, for both contractors and government agencies, of strict compliance with the Contract Disputes Act’s jurisdictional requirements and with the Federal Acquisition Regulation's remedy-granting clauses.
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New Initiatives Will Advance Corporate Biodiversity Reporting
Two important recent developments — the launch of the Taskforce on Nature-related Financial Disclosures' framework on nature and biodiversity reporting, and Nature Action 100's announcement of the 100 companies it plans to engage on biodiversity issues — will help bring biodiversity disclosures into the mainstream, say David Woodcock and Maria Banda at Gibson Dunn.
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How Justices' Disclosure Ruling May Change Corp. Filings
In the upcoming Macquarie Infrastructure v. Moab Partners case, the U.S. Supreme Court will resolve a circuit split over whether a company may be sued for private securities fraud if they fail to disclose certain financial information in public filings, which may change the way management analyzes industry risks and trends for investors, says Paul Kisslinger at Lewis Brisbois.
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Pro Bono Work Is Powerful Self-Help For Attorneys
Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.
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Key Terms Of European Hydrogen Bank's 2023 Pilot Auction
The European Hydrogen Bank is a meaningful step in supporting production of green hydrogen within Europe, although its first auction round may not have the financial firepower needed to make major projects happen in Europe, say attorneys at King & Spalding.
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Series
Playing In A Rock Cover Band Makes Me A Better Lawyer
Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.
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Series
The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'
The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.
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Calif. GHG Disclosure Law Will Affect Companies Worldwide
California's Climate Corporate Data Accountability Act, which will require comprehensive greenhouse gas emissions disclosures from large companies operating in the state, will mean compliance challenges for a wide range of industries, nationally and globally, as the law's requirements will ultimately trickle out and down, say attorneys at Brownstein Hyatt.
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What ESG Investing Ruling Means For Fiduciaries
A Texas federal court’s recent ruling — upholding a U.S. Department of Labor rule allowing retirement plan fiduciaries to consider ESG factors in certain investment decisions — provides welcome clarity for plans governed by the Employee Retirement Income Security Act that have long been buffeted by partisan noise and misinformation, say attorneys at Covington.
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What Panama Canal Award Ruling Means For Int'l Arbitration
As the prevalence of international arbitration grows, the Eighth Circuit’s recent decision in Grupo Unidos v. Canal de Panama may change how practitioners decide what remedies to seek and where to raise them if claims are rejected, says Jerry Roth at FedArb.