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Energy
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August 15, 2024
Carrier Wraps Strategic Exit Plan With $3B Sale Of Fire Units
Carrier Global Corp. said Thursday it has inked an agreement to sell its commercial and residential fire units to an affiliate of Lone Star Funds at an enterprise value of $3 billion, completing the company's strategic plan to sell off several business units and focus on its core ventilation business.
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August 14, 2024
3rd Circ. May Nix $10M Venezuela Award Transfer Suit
The Third Circuit appeared poised to decline jurisdiction over appeals challenging a Delaware judge's decision to send litigation enforcing some $10 million in arbitral awards against a subsidiary of Venezuela's state-owned oil company to federal court in Washington, D.C.
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August 14, 2024
Exxon Can't Beat Investor Suit Over Permian Basin Claims
A Texas federal judge kept a proposed investor class action against Exxon Mobil intact, saying in an opinion that the investors' allegations claiming Exxon overvalued its Permian Basin holdings by billions of dollars and fudged its public statements were strong enough for the case to move forward.
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August 14, 2024
Sanctioned Ghanaian Co. Says Law Firm's Fees Too High
An African energy company has slammed international arbitration specialty law firm Three Crowns LLP in Texas federal court for claiming nearly $200,000 in fees after the company was sanctioned for lying to a Ghanaian court.
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August 14, 2024
BP Unit Can't Escape Truck Stop Suit, Developers Claim
Companies suing a BP subsidiary for terminating their truck stop franchise agreement and leaving them stuck with unrecoverable development costs hit back against its "shotgun approach" to have their suit seeking more than $300 million in damages thrown out, telling an Ohio federal judge that their complaint is grounded in compelling claims.
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August 14, 2024
Fuel Co. Can't Halt Fund's Contributions Dispute, Judge Says
An airplane fueling services company can't escape claims from a Teamsters benefit plan seeking more than $150,000 in unpaid contributions and other costs, a New York federal judge ruled, finding ambiguities with provisions in an agreement about contribution obligations preclude dismissal.
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August 14, 2024
CFTC Hits Vitol With First-Of-Its-Kind Position Limits Fine
The U.S. Commodity Futures Trading Commission issued its first-ever fine Wednesday against a trader exceeding position limits by holding the same contract across multiple exchanges, penalizing Swiss energy and commodities company Vitol SA for its positions on cattle and crude oil futures.
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August 14, 2024
10th Circ. Wipes Out Fight Over Obama-Era Methane Rule
The Tenth Circuit has thrown out a lower court ruling partially invalidating an Obama-era rule limiting venting and flaring from oil and gas wells on federal land, saying a new rule crafted by the Biden administration moots the entire case.
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August 14, 2024
EU OKs Siemens' $3.8B Sale Of Innomotics To PE Firm KPS
European Union antitrust enforcers signed off Wednesday on German tech conglomerate Siemens AG's plan to sell its Innomotics large motors and drives unit to New York City-based private equity firm KPS Capital Partners, finding that the deal, with an enterprise value of €3.5 billion ($3.9 billion), poses "limited" overlap concerns.
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August 14, 2024
Judge Blocks Missouri's Anti-ESG Rules, Handing SIFMA Win
A Missouri federal judge found Wednesday that the state's anti-ESG rules for brokers and advisers violate the First Amendment and are preempted by federal laws, handing the Securities Industry and Financial Markets Association an early win in its suit against state officials.
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August 14, 2024
The Biggest Enviro Decisions Of 2024: Midyear Report
2024 has already been one of the most consequential years for environmental law, and it's only half over. The U.S. Supreme Court issued groundbreaking administrative law decisions, while lower appeals courts resolved questions about California's right to promulgate its own vehicle emissions standards, among other rulings.
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August 14, 2024
Oil Equipment Co. Says Ex-Workers Took Patent-Pending Tech
An oilfield equipment company has taken two of its former workers and the competitor they left for to Texas federal court over claims the ex-employees absconded with its patent-pending oil valve technology and then shared it and other trade secrets with their new employer.
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August 13, 2024
Texas Court Affirms Sole Arbitrator In Oilfield Machinery Fight
A Texas appeals court affirmed on Tuesday that arbitration over more than $1 million owed on an invoice for oilfield machinery should be heard by a sole arbitrator, ruling that a subsequent agreement between a Mexican drill rig manufacturer and a Houston company trumped the wording in their initial contract.
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August 13, 2024
Anadarko Settles Wyo. Landowners' Antitrust Case For $12M
Occidental Petroleum Corp. unit Anadarko Petroleum Corp. will pay $12 million to resolve a federal class action from Wyoming landowners accusing the extraction company of anticompetitively hoarding permits to block and control local oil and gas development, resolving the suit Monday — very nearly on the courthouse steps.
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August 13, 2024
Halliburton Gets PTAB To Mostly Invalidate US Well Patent
A Patent Trial and Appeal Board panel largely invalidated claims of a fracturing patent owned by U.S. Well Services LLC challenged by Halliburton Energy Services Inc.
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August 13, 2024
No Cause To Revisit Maple Leaf Standard Yet, Fed. Circ. Says
The Federal Circuit on Tuesday declined a solar industry group's push to review a decades-old, "breathtakingly deferential" precedent a panel invoked in a decision affirming the president's Trade Act authority to make existing solar safeguard tariffs more trade restrictive.
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August 13, 2024
10th Circ. Says Mine Can't Undo Worker's Black Lung Benefits
A Tenth Circuit panel on Tuesday rejected a coal mining company's attempt to prevent a retired Utah miner from getting benefits under the Black Lung Benefits Act, finding the miner's time working in above-ground facilities did not remove the law's presumption in his favor.
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August 13, 2024
Quarry Liable For Layoff Notices, NLRB Tells DC Circ.
The National Labor Relations Board correctly found that a quarry operator illegally issued layoff notices to union supporters, the agency argued to the D.C. Circuit on Tuesday, saying the company hadn't followed its practice of laying people off during cold weather.
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August 13, 2024
Ariz. Tribe, Green Groups Want In On Industry Copper Rule Suit
A Native American tribe and the Sierra Club are squaring off against mining companies challenging the U.S. Environmental Protection Agency's recent rule, which is intended to reduce toxic, cancer-causing emissions from copper-smelting facilities.
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August 13, 2024
Tesla, Stockholder Feud In Del. Over Texas Move's Validity
Tesla inc. has fired a Delaware Court of Chancery broadside at a stockholder claim that the company failed to collect a required two-thirds majority vote to convert from a Delaware to a Texas-chartered company, saying the supermajority applies to charter changes rather than Tesla's corporate "redomestication."
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August 13, 2024
DOD Says Missing License Is Needed To Dispute $1B Fuel Deal
The Defense Logistics Agency has urged the Court of Federal Claims to toss a protest alleging a $1 billion African fuel supply deal requires a license that can only be secured through bribery, saying not already having the license dooms the protester's case.
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August 13, 2024
Air Taxi Co. Investor Ends Suit After Exec Indemnity Vote Fails
A stockholder suit against electric air taxi developer Archer Aviation Inc. has been declared moot after the company acknowledged it didn't have enough shareholder votes in favor of a measure that would indemnify its executives.
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August 13, 2024
Youth Plead To Save Constitutional Climate Lawsuit
Youth plaintiffs on Monday defended their right to continue their lawsuit alleging the federal government unconstitutionally discriminates against them by favoring the fossil fuel industry's interests.
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August 13, 2024
Tar Sands Firm Strikes SPAC Merger With Integrated Rail
Tar Sands Holdings II LLC, advised by Holland & Hart LLP, plans to go public following a merger with Winston & Strawn LLP-led special purpose acquisition company Integrated Rail and Resources Acquisition Corp., according to a Monday statement.
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August 13, 2024
FirstEnergy Makes Nonprosecution Deal To End Ohio AG Probe
FirstEnergy said Tuesday that it has secured a nonprosecution agreement with Ohio's attorney general stemming from an alleged $1 billion bribery scandal involving the former speaker of the Ohio House of Representatives, with both parties touting the utility company's remediation and compliance improvements.
Expert Analysis
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How Uyghur Forced Labor Law Affects Importing Companies
Amid a growing focus on forced labor in supply chains and a likely increase in enforcement under the Uyghur Forced Labor Prevention Act, companies may face costly import delays unless they develop and implement compliance best practices, say Thad McBride and Lauren Gammer at Bass Berry.
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Atmospheric Rivers: Force Majeure Or Just A Rainy Day?
As atmospheric rivers pummel California with intense rainfall, flooding and landslides, agencies and contractors in the state struggling to manage projects may invoke force majeure — but as with all construction risk issues, the terms of the agreement govern, and relief may not always be available, say Kyle Hamilton and Corey Boock at Nossaman.
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Series
Glassblowing Makes Me A Better Lawyer
I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.
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Best Practices For Chemical Transparency In Supply Chains
A flurry of new and forthcoming regulations in different jurisdictions that require disclosure of potentially hazardous substances used in companies' products and processes will require businesses to take proactive steps to build chemical transparency into their supply chains, and engage robustly and systematically with vendors, says Jillian Stacy at Enhesa.
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Unpacking The Latest Tranche Of Sanctions Targeting Russia
Hundreds of new U.S. sanctions and export-control measures targeting trade with Russia, issued last week in connection with the G7 summit, illustrate the fluidity of trade-focused restrictions and the need to constantly refresh compliance analyses, say attorneys at Ropes & Gray.
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
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Assessing The Energy Act 2023, Eight Months On
Although much of the detail required to fully implement the Energy Act 2023 remains to be finalized, the scale of change in the energy sector is unprecedented, and with the U.K. prioritizing achieving net-zero, it is likely that developments will continue at pace, say lawyers at Paul Hastings.
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Navigating New Safe Harbor For Domestic Content Tax Credits
The U.S. Department of the Treasury’s recent notice simplifying domestic content calculations for certain solar, onshore wind and battery storage projects, which directly acknowledges the difficulty for taxpayers in gathering data to support a domestic content analysis, should make it easier to qualify additional domestic content bonus tax credits, say attorneys at A&O Shearman.
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Emerging Trends In ESG-Focused Securities Litigation
Based on a combination of shareholder pressure, increasing regulatory scrutiny and proposed rulemaking, there has been a proliferation of litigation over public company disclosures and actions regarding environmental, social, and governance factors — and the overall volume of such class actions will likely increase in the coming years, say attorneys at Mintz.
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Firms Must Rethink How They Train New Lawyers In AI Age
As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.
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What Alternative Fuel Proposals Mean For EU Infrastructure
The European Union’s proposed Alternative Fuels Infrastructure Facility, covering activities in the transport sectors supporting the decarbonization process, sets ambitious standards regarding the deployment of adequate supply infrastructure and offers new funding opportunities for port operators and shipowners, says Christian Bauer at Watson Farley.
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Cyber Takeaways For Cos. From Verizon Data Breach Report
Camilo Artiga-Purcell at Kiteworks analyzes the key findings of the 2024 Verizon Data Breach Investigations Report from a legal perspective, examining the implications for organizations' cybersecurity strategies and compliance efforts.
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'Energy Communities' Update May Clarify Tax Credit Eligibility
A recent IRS notice that includes updated lists of locations where clean energy projects can qualify for additional tax credits — based 2023 unemployment data and placed-in-service dates — should help provide clarity regarding project eligibility that sponsors and developers need, say attorneys at Troutman Pepper.
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Think Like A Lawyer: Always Be Closing
When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.
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How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet
A California bumblebee's listing as an endangered species could lead to a regulatory quagmire as California Department of Fish and Wildlife permits now routinely include survey requirements for the bee, but the regulator has yet to determine what the species needs for conservation, says David Smith at Manatt.