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Project Finance
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November 28, 2023
Law Firm Leaders Cautiously Optimistic Heading Into 2024
Major U.S. law firms are steadfast in their commitment to the pursuit of further growth despite ongoing economic uncertainty. Here’s what the leaders of four Leaderboard firms have to say about how the legal industry is preparing for next year.
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November 28, 2023
The 2023 Law360 Pulse Leaderboard
Check out the Law360 Pulse Leaderboard to see which first-in-class firms made the list this year.
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November 27, 2023
2nd Circ. Remains Mum In Hearing Over Panama Discovery
The Second Circuit did little to tip its hand during oral arguments aimed at resolving whether federal courts can order discovery for arbitration before the International Centre for Settlement of Investment Disputes, asking few questions during a 22-minute hearing concerning controversy over expanding the Panama Canal.
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November 27, 2023
NY Judge OKs $1.65B Voyager Settlement With FTC
A New York federal judge has approved a settlement ordering bankrupt cryptocurrency lender Voyager Digital and its ex-CEO to pay $1.65 billion for misleading investors about the safety of their money prior to the firm's collapse.
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November 27, 2023
NTIA Says It's Working On Space Industry's Spectrum Needs
A U.S. Commerce Department branch told the Federal Communications Commission it is working to identify the space industry's spectrum needs as the FCC looks to assist NASA and other federal agencies' efforts to boost in-space assembly and manufacturing services.
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November 27, 2023
Insurer Seeks $17.4M For Failed La. Dredging Projects
An insurer urged a Louisiana federal court Monday to award it over $17 million in damages following several dredging contractors' alleged abandonment of multiple public utility projects, arguing that the contractors failed to pay it back for bonds it issued under a 2014 indemnity agreement.
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November 27, 2023
Elliott Slams Crown Castle For 'Profound Lack Of Oversight'
Activist investor Elliott Investment Management LP on Monday took a jab at telecommunications company Crown Castle Inc., saying the company suffers from a "profound lack of oversight" and a "breathtaking magnitude" of underperformance, and calling for an executive shake-up if the company does not make significant changes.
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November 27, 2023
Colombia Oil Co. Wants To Challenge McDermott Restructure
A Colombian state-owned oil company says it has a $1 billion arbitration award on the line and needs permission from a New York federal judge to subpoena a hedge fund manager so it can protect its interests while the company that owes the money restructures in the Netherlands and England.
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November 27, 2023
Shell, BP Can't Nab Fed. Venue In Climate Row, 9th Circ. Says
The Ninth Circuit on Monday rejected five of the world's largest oil and gas companies' attempt to remove climate change litigation spearheaded by San Francisco and Oakland to California federal court, citing numerous prior rulings answering the same jurisdictional question.
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November 27, 2023
Veteran Project Finance Partner Joins Kilpatrick From Stroock
Kilpatrick Townsend & Stockton LLP announced Monday that it hired an experienced project finance partner from Stroock & Stroock & Lavan LLP who's spent over 30 years working on a wide range of energy projects both domestically and abroad.
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November 27, 2023
Locke Lord Brings On Corporate Atty From Sidley In Houston
Locke Lord LLP announced on Monday the law firm recently fortified its corporate and transactional practice group by hiring a new partner in Houston who came aboard from Sidley Austin LLP.
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November 27, 2023
Hogan Lovells Grows D.C. Corporate Team With Energy Atty
A transactional attorney specializing in the energy sector has moved his practice to Hogan Lovells' Washington, D.C., office to take full advantage of the firm's regulatory team and its international resources.
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November 27, 2023
Beard Energy Transition SPAC Axes Tie-Up With Solar Biz
Blank-check company Beard Energy Transition Acquisition Corp. and solar and home energy solutions company Suntuity Renewables jointly announced Monday they have called off their planned merger that would have taken Suntuity public at a pro forma enterprise value of $249 million.
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November 27, 2023
9th Circ. Axes Montana Mining Company's Appeal
A Ninth Circuit panel threw out an appeal by Rosebud Mining seeking to upend a Montana federal court ruling finding the Montana Environmental Information Center and the Sierra Club have standing to oppose the company's strip mine expansion, saying it lacks appellate jurisdiction.
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November 22, 2023
3rd Circ. To Rehear EPA Oil Refinery Permit Case
The Third Circuit has agreed to rehear a case to clarify its interpretation of the law after it previously held that the U.S. Environmental Protection Agency couldn't force an existing oil refinery to get a strict air quality permit that only applies to newly constructed facilities.
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November 22, 2023
With FERC Stalled On Pipeline Policy, Courts Could Show Way
There's little indication that a long-awaited revision of the Federal Energy Regulatory Commission's gas infrastructure approval policy is imminent, which means any further clarity on how the agency should factor climate change into its reviews will likely come from the courts. Here's a trio of pending D.C. Circuit cases that could provide FERC with further guidance on how it should evaluate the climate impacts of gas projects.
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November 22, 2023
Would Ending Chevron Deference Really Make Waves?
Experts say federal agencies and courts have drifted away from relying on Chevron deference in recent years, following the lead of U.S. Supreme Court justices who have criticized it, but the doctrine hasn't been totally abandoned by lower courts — and a closely watched high court case could decide its ultimate fate.
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November 22, 2023
The Events That Have Shaped M&A Through A Volatile 2023
Economic and geopolitical turbulence in 2023 have led to a slow year for mergers and acquisitions, as inflation, heightened interest rates and a more difficult financing environment dampened excitement for, and the ability to make, deals. Here, Law360 reviews some of the key M&A-related events that have played out amid this volatile year.
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November 21, 2023
Green Orgs Fight Back On Corps' Brief In Port Expansion Row
Conservation groups challenging the U.S. Army Corps of Engineers' review of a dredging project to widen shipping lanes for Puerto Rico's largest port told the D.C. Circuit the agency is trying to paper over an inadequate analysis with arguments that focus on post-decision developments and justifications.
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November 21, 2023
Energy Bonus Credits' Labor Rules Set Bar Too High, IRS Told
Complying with proposed IRS labor rules that are critical in claiming the 2022 climate law's bonus tax credits will be challenging for project owners, stakeholders told the agency Tuesday, citing hurdles such as daunting record-keeping requirements and unclear construction start dates.
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November 21, 2023
Mining Co. Says It Will Challenge IRS Plan To Tax Award
A mining company that Venezuela agreed to pay nearly $770 million for a canceled project said it plans to challenge what it called an IRS proposal to tax the company's future award amounts and disallow worthless stock deductions it took related to the project.
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November 21, 2023
Ex-Aegerion Rep Cops To Fraud, Avoiding Trial Redo
A former Aegerion Pharmaceuticals sales representative pled guilty Tuesday in Boston federal court to fraudulently selling the company's cholesterol treatment, ending a nearly 6-year-old case that saw an initial conviction vacated due to a faulty jury charge.
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November 21, 2023
FCC Will Be Mulling Rules To Make Pole Attachments Cheaper
The Federal Communications Commission is heeding the call of companies who say pole owners are shifting the costs of maintaining and replacing poles onto them when they want to lease space for attachments, revealing Tuesday that the agency will be considering rules to make the process "faster, more transparent, and more cost-effective."
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November 21, 2023
Fishing Cos. Tell Justices Chevron Deference 'Deeply Flawed'
Fishing company Seafreeze Fleet LLC and its subsidiaries have called on the U.S. Supreme Court to overturn a decades-old doctrine instructing lower courts to defer to federal agencies' interpretations of ambiguous laws, arguing the doctrine is "deeply flawed" by two "significant constitutional shortcomings."
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November 21, 2023
Insurance Exec Agrees To Fines In Multibillion-Dollar RICO
A North Carolina insurance mogul's former chief investment officer agreed to pay $75,000 in damages to insurers in a federal racketeering lawsuit concerning his role in a multibillion-dollar insurance scheme.
Expert Analysis
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Navigating USCIS' New Minimum EB-5 Investment Period
Recent significant modifications to U.S. Citizenship and Immigration Services’ EB-5 at-risk requirement are causing uncertainty for several reasons, but investors who consider certain key aspects of prospective projects can mitigate the immigration and investment risks, say Samuel Silverman at EB5AN, Ronald Klasko at Klasko Immigration, and Kate Kalmykov at Greenberg Traurig.
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Calif. Resource Adequacy Update May Revalue Power Projects
The California Public Utilities Commission's recently initiated proceeding to overhaul its resource adequacy framework — part of an effort to maintain the reliability of the state's power system while decarbonizing it — could have significant effects on the valuation of existing and future power generation resources, say Nicholas Gladd and Max Learner at Wilson Sonsini.
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Series
ESG Around The World: Mexico
ESG has yet to become part of the DNA of the Mexican business model, but huge strides are being made in that direction, as more stakeholders demand that companies adopt, at the least, a modicum of sustainability commitments and demonstrate how they will meet them, says Carlos Escoto at Galicia Abogados.
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The Case For Post-Bar Clerk Training Programs At Law Firms
In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.
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Attorneys Have An Ethical Duty To Protect The Judiciary
The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.
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What NJ's Green Remediation Guidance Means For Cleanups
Recent guidance from the New Jersey Department of Environmental Protection promoting greener approaches to restoring contaminated sites demonstrates the state's commitment to sustainability and environmental justice — but could also entail more complexity, higher costs and longer remediation timelines, say J. Michael Showalter and Bradley Rochlen at ArentFox Schiff.
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Mo. Solar Projects Need Clarity On Enterprise Zone Tax Relief
In Missouri, enhanced enterprise zones offer tax abatements that could offset the cost of solar project infrastructure, but developers must be willing to navigate uncertainty about whether the project is classified as real property, say Lizzy McEntire and Anna Kimbrell at Husch Blackwell.
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AI Can Help Lawyers Overcome The Programming Barrier
Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.
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What To Expect After Colo. Nixes Special Standing Rules
Two recent Colorado Supreme Court decisions have abandoned a test to preclude standing in lawsuits challenging government decisions brought by subordinate government entities, which will likely lead to an admixture of results, including opening the door to additional legal challenges between government entities, says John Crisham at Crisham & Holman.
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What Texas Business Court Could Mean For Oil, Gas Cases
While the new business court in Texas might seem an ideal venue for the numerous oil and gas disputes litigated in that state, many of these cases may remain outside its reach under the rules governing the court's jurisdiction — at least for now, say Conrad Hester and Emily Fitzgerald at Alston & Bird.
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Preparing Law Students For A New, AI-Assisted Legal World
As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.
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Series
ESG Around The World: South Korea
Numerous ESG trends have materialized in South Korea in the past three years, with impacts ranging from greenwashing prevention and carbon neutrality measures to workplace harassment and board diversity initiatives, say Chang Wook Min and Hyun Chan Jung at Jipyong.
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General Counsel Need Data Literacy To Keep Up With AI
With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.
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Navigating Discovery Of Generative AI Information
As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.
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Finding Focus: Strategies For Attorneys With ADHD
Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.