Project Finance

  • February 27, 2024

    5th Circ. Holds To Its Undoing Of $200M Ship Explosion Award

    A German shipping company has failed to persuade the Fifth Circuit to reconsider undoing a federal district court's decision to enforce a $200 million arbitral award the company secured in London after a 2012 explosion killed three crew members and caused extensive damage on one of its vessels.

  • February 27, 2024

    NH Power Plant Gets OK On Purchaser Settlement In Ch. 11

    Bankrupt New Hampshire power plant Burgess Biopower LLC will receive a $3.35 million payment from a power purchaser that allegedly withheld money it owed last year, reaching a settlement agreement between the parties that won a Delaware federal judge's blessing on Tuesday.

  • February 27, 2024

    States, Businesses Aim To Kill Feds' Revised Water Rule

    States and business groups have asked a North Dakota federal judge to force the U.S. Environmental Protection Agency to revise regulations intended to define the scope of the federal government's authority under the Clean Water Act.

  • February 27, 2024

    Energy Co. Asks 8th Circ. To Revive Lease Termination Suit

    A Denver-based energy company has told the Eighth Circuit that a North Dakota federal judge was wrong to dismiss its lease termination suit and hold that it had not exhausted its administrative remedies when its appeal of the Bureau of Indian Affairs decision had dragged on for nine-plus years.

  • February 27, 2024

    Ga. Judge Pauses $300M Bond Deadline In Monkey Farm Fight

    A Georgia federal judge on Monday suspended an imminent deadline for a $300 million bond agreement to finance the construction of a controversial primate-rearing farm amid a series of court fights over whether local officials can legally back out of the deal.

  • February 27, 2024

    No Merit To Gas Pipeline Safety Rules Fight, Feds Say

    The U.S. Department of Transportation on Monday urged the D.C. Circuit to reject a gas pipeline industry group's challenge of a handful of new safety standards for transmission pipelines, saying it shouldn't be legally second-guessed over what amounts to a policy disagreement at the margins.

  • February 27, 2024

    New Fuel Terminals Ban Doesn't Discriminate, Judge Says

    An Oregon federal judge has recommended the dismissal of a lawsuit in which Montana and a collection of fuel industry groups are challenging a ban on new oil and gas terminals in Portland, Oregon, saying there's no evidence the ban unconstitutionally discriminates against out-of-state companies.

  • February 27, 2024

    Project Finance Group Of The Year: Winston & Strawn

    With an achievement list spanning an unusual private market community solar portfolio, financing the Las Vegas Sphere, toll roads and New York City subway connectivity, Winston & Strawn LLP has solidified a place on Law360's 2023 Practice Groups of the Year.

  • February 26, 2024

    Apache's $3B Write-Down Merits Bigger Class, Investors Say

    A group of Apache Corp. investors on the cusp of winning class certification are arguing that their promised class should be extended to encompass even more investors who were allegedly deceived by company promises of a potentially lucrative drilling project that ultimately led to a $3 billion write-down when it went bust. 

  • February 26, 2024

    Gas Groups Press DOE To Restart LNG Export Reviews

    Oil and gas industry groups on Monday urged the U.S. Department of Energy to lift its recent pause of approvals of liquefied natural gas exports to countries that don't have free-trade agreements with the United States, arguing that the move is illegal.

  • February 26, 2024

    FCC Tells Reps. Starlink RDOF Application Was Insufficient

    The Federal Communications Commission recently told members of Congress that the agency rejected satellite company Starlink's long-form application for about $885 million in rural broadband development subsidies because the company's plan indicated it had trouble meeting speed standards, among other reasons.

  • February 26, 2024

    Texas Justices Say $220M Cobalt Deal Is A Loss Under Policy

    A $220 million settlement that now-bankrupt Cobalt International Energy Inc. reached with a group of investors constitutes a loss under the energy company's insurance policies, but the agreement is not binding on Cobalt's insurers to establish coverage, the Texas Supreme Court ruled.

  • February 26, 2024

    Banks Say Brazil Pollution Suit In NY Is In Wrong Country

    Four leading financial institutions are urging a New York federal judge to throw out a pair of proposed class suits accusing them of enabling environmental degradation in Brazil by lending $17.2 million to Brazilian mining company Vale SA, arguing the claims don't belong in the United States because they are "all about Brazil."

  • February 26, 2024

    Project Finance Group Of The Year: Sullivan & Cromwell

    A $7 billion deal to finance a liquefied natural gas facility in Texas is one of several clean or renewable energy transactions in which Sullivan & Cromwell LLP played a leading role in 2023, earning the firm a spot among Law360's Project Finance Groups of the Year.

  • February 26, 2024

    BP, Chevron Lose 4th Circ. Fight Over Climate Suit Venue

    The Fourth Circuit on Monday rejected the latest attempt by BP, Chevron, ExxonMobil and other oil titans to go to federal court to litigate complaints that accuse them of lying about fossil fuels' climate effects, joining multiple courts in reasoning that the claims don't invoke federal law.

  • February 23, 2024

    Wildlife, Paddling Groups Want To Join Clean Water Act Fight

    The National Wildlife Federation and American Whitewater are asking a Louisiana federal judge to let them join litigation over an updated Clean Water Act rule that expanded states' and tribes' ability to block projects such as pipelines and dams over water quality concerns, to ensure their interests are considered.

  • February 23, 2024

    Commerce Dept. Partly Waives 'Buy America' For BEAD

    The U.S. Department of Commerce on Friday announced limited waivers from "Buy America" requirements under the agency's $42.5 billion broadband deployment program to make sure that enough advanced components can flow to projects around the country.

  • February 23, 2024

    Conn. Justices OK $2.9M Cut To Power Co.'s Cost Recovery

    Connecticut's highest court on Friday held that state energy regulators properly trimmed a power company's annual cost recovery bid by more than $2.86 million, agreeing with a lower court that it was not arbitrary or capricious to decline to pass the expense to customers.

  • February 23, 2024

    1st Circ. Told Wind Farm's Approval Should've Been A Breeze

    A wind farm developer has asked the First Circuit to reject fishing groups' challenge to the U.S. Department of the Interior's approval of a proposed project off the coast of Martha's Vineyard, saying the effort to sink the plan can't survive because the agency did things by the book.

  • February 23, 2024

    NH Plant Strikes Deal On Power Purchase Contract

    A bankrupt New Hampshire power plant reached terms on a deal Friday with an entity whose contract to purchase the facility's power was rejected earlier this week, telling a Delaware federal judge the agreement will help quickly transition to a new purchaser and stave off a shutdown of the plant.

  • February 23, 2024

    Congress Must Fund Next-Gen 911, 9 Ex-FCC Chairs Say

    Nine former chairs of the U.S. Federal Communications Commission, who served under Democratic and Republican administrations, are urging congressional leadership to fully commit to implementing the next generation of 911.

  • February 23, 2024

    Groups Back Texas' Bid To Void Feds' Highway GHG Rule

    Construction trade groups have thrown their support behind the state of Texas' federal lawsuit seeking to vacate a new U.S. Department of Transportation rule requiring states to set targets for reducing greenhouse gas emissions from federally funded highway projects.

  • February 23, 2024

    Denver Jury Awards Aecom $5M In Toll Lanes Fight

    A Denver federal jury awarded construction design firm Aecom $5.25 million in damages Friday for a subcontractor's failure to pay for design services for a Colorado highway expansion, and rejected the subcontractor's attempt to get $260 million in counterclaims.

  • February 23, 2024

    Project Finance Group Of The Year: Mayer Brown

    Mayer Brown LLP guided financing for a Pennsylvania bridge replacement project of unrivaled proportions and navigated a first-of-its-kind tax credit transfer transaction amid a renewable energy portfolio buy, landing the firm a spot among Law360's 2024 Project Finance Groups of the Year.

  • February 23, 2024

    Woodside Selling 15.1% Stake In Aussie Gas Project For $1.4B

    Australia's Woodside Energy said Friday it will sell a 15.1% stake in its Scarborough gas project to Japan-based JERA at a $1.4 billion value, creating a partnership that will help boost the project's development while creating opportunities for further collaboration. 

Expert Analysis

  • 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.

  • Global Analysis Of Climate Suits Reveals Strategic Focus

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    A recent report from the Grantham Institute, reviewing climate lawsuits around the world and identifying eight types of so-called strategic litigation, offers insights that may help companies reduce their exposure and protect their reputations, say Jason Halper and Sharon Takhar at Cadwalader.

  • Perspectives

    A Judge's Pitch To Revive The Jury Trial

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    Ohio state Judge Pierre Bergeron explains how the decline of the jury trial threatens public confidence in the judiciary and even democracy as a whole, and he offers ideas to restore this sacred right.

  • A Milestone For Offshore Wind In Maine

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    Recently signed legislation directing Maine to procure up to 3 gigawatts of offshore wind by 2040 offers indisputable promise that the state will soon welcome commercial-scale offshore wind development off its shores, says Joshua Rosen at Foley Hoag.

  • How To Recognize And Recover From Lawyer Loneliness

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    Law can be one of the loneliest professions, but there are practical steps that attorneys and their managers can take to help themselves and their peers improve their emotional health, strengthen their social bonds and protect their performance, says psychologist and attorney Traci Cipriano.

  • Opinion

    Litigation Funding Disclosure Should Be Mandatory

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    Despite the Appellate Rules Committee's recent deferral of the issue of requiring third-party litigation funding disclosure, such a mandate is necessary to ensure the even-handed administration of justice across all cases, says David Levitt at Hinshaw.

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