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Energy
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December 08, 2023
Venezuela Says Immediate Appeal Needed In Citgo Cases
Venezuela is pressing a federal judge to allow it to immediately appeal his ruling putting seven creditors closer to taking part in an auction of Citgo's indirect parent company next year, arguing that the legality of one of the largest forced sales in Delaware history is on the line.
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December 08, 2023
Workers Want Win On Shell 401(k) Mismanagement Claim
Current and former employees urged a Texas federal judge Friday to award them a win on one of their claims against Shell Oil Co. in their suit alleging the energy giant mismanaged their 401(k) plan, arguing there are no remaining disputes on the issue to resolve at trial.
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December 08, 2023
McKinsey Rival Wants Out Of Exec's Defamation Countersuit
Turnaround consultant AlixPartners has asked a New York federal judge to dismiss defamation counterclaims against it in its founder's long-running suit accusing McKinsey & Co. of intentionally failing to disclose disqualifying conflicts of interest in big bankruptcy cases.
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December 08, 2023
Bankrupt Barretts Can't Block Talc Suits Against Testing Co.
A Texas bankruptcy judge on Friday declined to apply an injunction temporarily protecting Barretts Minerals units from talc-related lawsuits to a parent company that tested the talc for asbestos, after voicing concerns about the debtor's potential efforts to improperly protect parent entities that aren't part of the bankruptcy case.
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December 08, 2023
Tristan Gets Ch. 15 Recognition In Bid To Collect Kazakh Debt
A New York bankruptcy court said Friday that it would grant Chapter 15 recognition to a debt restructuring underway in the British Virgin Islands by Tristan Oil Ltd., as part of the company's attempts to collect on a $555 million arbitration award from Kazakhstan's government.
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December 08, 2023
Nikola Investors Fight Call For Del. SPAC Fraud Suit Toss
Five attorney teams pressed Friday for dismissal of most of the derivative claims in a Delaware Court of Chancery stockholder lawsuit seeking damages from Nikola Corp., its directors, officers and an adviser in the wake of the hydrogen- and battery-powered truck manufacturer's fraud-tainted, $3.3 billion take-public deal.
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December 08, 2023
Sierra Club Handed Loss In NH Coal Plant Permit Dispute
A New Hampshire federal judge has rejected the Sierra Club and Conservation Law Foundation's claims that a power plant on the Merrimack River has repeatedly violated its National Pollution Discharge Elimination System permit with discharges of heated water into the river, holding that the conservation groups failed to show enough proof to support their claims.
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December 08, 2023
Enviro Orgs. To Drop Suit Over Axed Lithium Exploration
The Center for Biological Diversity and Amargosa Conservancy are moving to dismiss their paused suit challenging a temporarily axed lithium exploration project near the Ash Meadows National Wildlife Refuge in southeast Nevada, saying they've struck an agreement with federal agencies to settle the case.
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December 08, 2023
Ex-JPM Traders' Appeal Can't Stop Spoofing Suit, CFTC Says
The Commodity Futures Trading Commission urged an Illinois federal judge this week to lift a stay on its lawsuit accusing two convicted former JPMorgan Chase precious metals traders of manipulating commodities markets, saying the agency's civil case should move forward now that the pair has been convicted in parallel criminal proceedings, regardless of the traders' plans to appeal.
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December 08, 2023
Pomerantz To Lead Maui Fire Suit Against Hawaii Utility
A California federal judge has selected Pomerantz LLP as lead counsel in a suit against Hawaiian Electric over a downturn in stock price after a deadly fire broke out on Maui, finding the party with the highest amount of money purportedly at stake could represent the class.
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December 08, 2023
SEC Defends Fraud Allegations Against Texas Oil CEO
The U.S. Securities and Exchange Commission is urging a federal court against throwing out its fraud lawsuit against the CEO of a Texas oil and gas company, arguing they have laid out enough facts about how the executive misled investors to withstand his bid to dismiss the case.
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December 08, 2023
FTC Wants More Info On Chevron's $53B Hess Deal
The Federal Trade Commission has deepened its probe of a second megadeal in the oil and gas industry, asking for more information about Chevron's planned $53 billion purchase of Hess Corp., the companies said Friday.
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December 08, 2023
Steelmaker Says 401(k) Mismanagement Suit Not Ripe
A steel manufacturer urged a Florida federal court to throw out a proposed class action, saying a plan participant who brought the lawsuit failed to take his claims accusing the company of mismanaging its 401(k) plan through the required administrative process before lodging his complaint.
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December 08, 2023
LyondellBasell, INEOS Cut $700M Deal For Ethylene Oxide Biz
Houston-based LyondellBasell has agreed to sell its ethylene oxide business along with the unit's production facility in Bayport, Texas, to U.K.-based chemical producer INEOS for $700 million, the companies said in statements Friday.
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December 08, 2023
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen Tesla drive patent proceedings against technology company InterDigital, Genesis band members say That's (not) All in a breach of contract claim against Virgin Records, and betting giant Entain play its hand in a claim over its acquisition of BetCity last year. Here, Law360 looks at these and other new claims in the U.K.
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December 08, 2023
No Shortage Of Action For Energy Deal-Makers In 2023
A fresh wave of oil and gas industry consolidation, stiff macroeconomic headwinds for renewable energy development and the Inflation Reduction Act's growing influence are just some of the highlights of what's been an eventful 2023 for energy sector deal-makers. Here are the transactional trends that stood out to energy attorneys this year, as well as how they expect those trends to carry over into next year.
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December 08, 2023
Carrier Inks $5B Deal To Sell Security Biz To Honeywell
Carrier Global Corp. agreed to sell its security business, Global Access Solutions, to Honeywell at an enterprise value of $4.95 billion, the companies said in separate statements Friday.
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December 07, 2023
Missouri's 'Games' Can't Save Anti-ESG Rules, SIFMA Says
Wall Street's top trade group is accusing Missouri of playing "word games" in an attempt to escape a lawsuit over its allegedly unconstitutional rules requiring investment advisers and broker-dealers to disclose whether they make investment decisions based on a corporation's environmental or social policies.
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December 07, 2023
Crystal Clean To Pay $1.2M To Settle Feds', States' Waste Suit
An Illinois-based environmental services company on Thursday agreed to pay $1.2 million to settle the federal government's, Louisiana's and Indiana's claims that it violated laws governing the management and disposal of solid and hazardous waste.
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December 07, 2023
NM Court Reins In Order On Challenged Oil, Gas Co. Permits
While declining to overturn several challenged oil and gas company permits, a New Mexico appeals court panel struck parts of a state board's order affirming them, in a move environmental group WildEarth Guardians said could help ensure minor sources of ozone precursor emissions are adequately reviewed for contributions to air quality problems.
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December 07, 2023
EV Co.'s SPAC Suit Gets Initial OK For $1.9M Settlement
A Colorado federal judge has granted initial approval to a $1.9 million settlement of a shareholder derivative suit on behalf of commercial electric vehicle company Lightning eMotors that alleged its executives and directors made false and misleading claims about the company's future production capacity and potential revenue.
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December 07, 2023
Mich., Feds Settle With Scrap Metal Recycler On CAA Claims
Michigan and federal officials said they have reached a proposed agreement with R.J. Torching Inc. to settle alleged Clean Air Act violations related to metallic particulate matter emissions from a scrap metal recycling center in Flint, Michigan.
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December 07, 2023
Russians Charged With Hacking US, UK Intelligence Officials
Two men who work for the Russian Federal Security Service have been charged in California federal court with hacking email accounts belonging to current and former U.S. and United Kingdom intelligence officials, defense contractors, researchers and journalists, and leaking some of the information to the press ahead of the 2019 U.K. elections.
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December 07, 2023
Claims Admin Axed From Pipe Cos.' $3M Cargo Coverage Row
A California federal court permanently tossed a third-party claims administrator from a steel pipe importer and distributor's suit seeking $3 million under a policy that covers cargo lost or damaged in transit from South Korea, leaving only the importer's insurer in the dispute.
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December 07, 2023
Judge Says Stay Of Bankrupt Union's Appeal Not Her Call
A California bankruptcy judge told an attorney for a bankrupt union Thursday that while she agreed insolvency law did not prevent the group's Ninth Circuit appeal of a National Labor Relations Board decision from going forward, that call is the Ninth Circuit's to make, not hers.
Expert Analysis
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Series
Performing Music Makes Me A Better Lawyer
The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.
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Green Tech And IP From Obama Through Biden: What's Next?
J. Douglas Miller and Matthew Dills at Shumaker consider how positions on the environment have shifted along with the last three U.S. presidential administrations, how these shifts have affected investment in sustainable green technologies and intellectual property strategies, and how the future might look.
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Property Owner Considerations Around Electric Vehicle Bans
In light of a property management company's recent ban on electric vehicles in Canada, it's worth considering how similar bans might fare in Florida and other U.S. states, and the legal ramifications that could potentially arise, say Gerardo Ortega and Gary Kaleita at Lowndes.
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What US-Canada Critical Minerals Collab Means For Cos.
Recent announcements from U.S. and Canadian officials indicate closer collaboration between the two governments on procurement of critical minerals for electric vehicles and other advanced technology — and companies on both sides of the border may have access to new opportunities as a result, say John Lushetsky, Matthew Simpson and Paul Dickerson at Mintz Levin.
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Breaking Down High Court's New Code Of Conduct
The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.
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High Court's Chevron Review May Be A Crypto Game-Changer
The outcome of the U.S. Supreme Court's review of the Chevron doctrine in its pending Loper v. Raimondo case will potentially usher in a paradigm shift in cryptocurrency regulation, challenging agency authority and raising hopes for a recalibrated approach that favors judicial interpretation, says Sylvia Favretto at Mysten Labs.
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A Gov't Contractor's Guide To Davis-Bacon Prevailing Wages
Excerpt from Practical Guidance
In light of shifting federal infrastructure priorities and recent updates to U.S. Department of Labor regulations, employers should take the time to revisit the basics of prevailing wage requirements for federal contractors under the Davis-Bacon Act and similar laws, says Timothy Taylor at Holland & Knight.
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IRA Monetization Energizes Clean Power Tax Credit Market
Recent large sales of clean energy production tax credits reflect an environment in which the Inflation Reduction Act's provisions for monetizing such credits via direct transfer — bypassing slow, costly tax equity transactions — offer opportunities for both developers and investors, says Andrew Eastman at Husch Blackwell.
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Opinion
Legal Profession Gender Parity Requires Equal Parental Leave
To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.
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Business Takeaways From Biden's Global Labor Rights Memo
President Joe Biden's recent memorandum on protecting worker rights is one of the most expansive statements the administration has made regarding international labor rights policy, and reflects several points of which businesses should take note, including the government’s interest in working with the private sector on these issues and a notable focus on the transition to clean energy, say Tom Plotkin and Pegah Nabili at Covington.
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Superfund Site Reopenings Carry Insured Risk, Opportunity
The U.S. Environmental Protection Agency's reported plans to reopen certain Superfund sites citing the presence of per- and poly-fluoroalkyl substances raise notable liability concerns, but may also present unique opportunities for policyholders under the Comprehensive Environmental Response, Compensation, and Liability Act, say attorneys at Haynes and Boone.
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Why NYC Building Owners Shouldn't Ignore Emissions Rule
New rules from the New York City Department of Buildings clarify the previously vague good faith efforts that building owners may make to mitigate penalties for not complying with a major carbon emission law that takes effect in January, and should discourage owners from simply paying the fines instead of decarbonizing, says William McCracken at Moritt Hock.
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New Regs Will Strengthen Voluntary Carbon Offset Market
Voluntary carbon offsets are a vital tool for organizations seeking to achieve net-zero greenhouse gas emissions — and recent efforts by the U.S. Commodity Futures Trading Commission, the U.S. Department of Agriculture, the state of California and others are essential to enhancing the reliability and authenticity of carbon credits, says David Smith at Manatt.
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Series
Writing Thriller Novels Makes Me A Better Lawyer
Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.
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Unpacking Long-Awaited Clean Energy Tax Credit Guidance
Recently proposed Internal Revenue Service regulations provide welcome confirmatory guidance on the application of investment tax credits as reworked by 2022's Inflation Reduction Act, prevailing wage and apprenticeship rules that are largely consistent with market expectations, and broader eligibility criteria that should please the wind power industry in particular, say attorneys at Morgan Lewis.