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A recently filed case before the Pennsylvania Public Utility Corporation (“PUC”) raises the issue of what type of pipeline company qualifies as a “public utility corporation” under Pennsylvania statutes. The term is not...more
In this opinion, the Court of Chancery applied the two-pronged Tooley standard to determine whether a plaintiff’s breach of contract claims in the limited partnership context were derivative or direct. Finding such claims to...more
In what is becoming a trend, the Massachusetts Appellate Tax Board (the "ATB") has issued yet another decision denying true debt treatment for an intercompany obligation. In National Grid Holdings, the ATB upheld assessments...more
Since 2009, at least 14 cases have been filed against electric cooperatives over patronage capital (or capital credits) in eight states: Alabama, Arkansas, Georgia, Missouri, New Mexico, North Carolina, South Carolina, and...more
On May 14, 2013, Judge Lewis A. Kaplan of the Southern District of New York affirmed a magistrate judge's decision denying plaintiff Chevron Corporation's ("Chevron's") motion to quash deposition notices for Chevron CEO John...more
The US District Court for the District of Delaware dismissed a class action for securities fraud against former officers and directors of a geothermal energy company, in which the plaintiffs alleged that the defendants had...more
The US Court of Appeals for the Fourth Circuit has refused to enforce a judgment against an entity with ties to the judgment debtor, finding that the judgment creditor had not adequately pled an alter ego claim....more
The Securities and Exchange Commission brought an enforcement action against defendant Geodymanics, Inc. and others alleging fraud in connection with four oil and gas exploration and drilling ventures, each of which was...more
The Court answered two questions in its ruling: (1) a corporate entity is not subject to a heightened standard in determining whether it has "standing" to bring a lawsuit under CEQA; and (2) the City of Manhattan Beach was...more
The number of patronage capital cases continues to rise. From 2009 to 2011, at least 10 cases have been filed against electric cooperatives over patronage capital (or capital credits). In fact—just this past February—another...more
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