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Massachusetts Rules Against Taxpayer on Treatment of Intercompany Debt—Again

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

Litigation Update on 14 Patronage Capital Cases in Eight States

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

Southern District of New York Orders Chevron CEO and General Counsel to Testify in RICO Suit Related to $18 Billion Ecuadorian...

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

Delaware Court Dismisses Securities Fraud Action Against Power Plant Executives

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

Fourth Circuit Refuses to Pierce the Corporate Veil in Oil Spill Case

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

District Court Rejects SEC Argument that General Partnership Interests in Joint Ventures Are Securities

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

Challenge to Changes in the Feed-in Tariff Program Dismissed by Divisional Court

Introduction - In its recent decision in SkyPower CL I LP et al v Minister of Energy issued on September 10, 2012, the Divisional Court dismissed the Applicants’ assertions that the Minister of Energy and the Ontario Power...more

Corporate E-Review: July 2012 -- A Battle of Mining Giants Regarding Rights of First Refusal: Ontario Superior Court of Justice...

On June 26, 2012, Justice Wilton-Siegel of the Ontario Superior Court of Justice released his decision in Barrick Gold Corporation v. Goldcorp Inc. et al. dismissing Barrick Gold Corporation (Barrick)’s claim that Goldcorp...more

The California Supreme Court Takes on the Eternal Question: Paper or Plastic?

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

New Patronage Capital Case Hits North Carolina Coop

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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