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Read Business Organization updates, alerts, news, and legal analysis from leading lawyers and law firms:

Navigating Private Equity Fund Limitations for Energy Infrastructure-Focused Investments

by King & Spalding on

Energy infrastructure funds have emerged as a class of funds that offer investors the potential for long-term stable returns, as well as downside protection through the asset class’s inflation-hedging characteristics. An...more

Sabine: The Next Episode

by Bryan Cave on

On June 16, 2016, The Bankruptcy Cave gave you our previous summary of the controversial Sabine decision. When Bankruptcy Judge Chapman determined there was no reason to expedite review of her decisions in the case, we...more

"SEC Staff Provides Relief From Conflict Minerals Rule"

In statements released on April 7, 2017, the acting chairman of the Securities and Exchange Commission (SEC), Michael S. Piwowar, and the SEC's Division of Corporation Finance provided welcome news to companies concerning the...more

Senegal's New Mining Code

by DLA Piper on

Senegal has officially introduced its new mining code, which has been a work in progress since 2012 when proposals were first made to revise the former mining code introduced in 2003. In recognising the potential that the...more

District Court Upholds Controversial Bankruptcy Decision in Sabine

On March 10, 2017, the U.S. District Court for the Southern District of New York issued a Memorandum Order, in which it affirmed a controversial bankruptcy court ruling. The district court agreed with the bankruptcy court...more

An Overview of Representations and Warranties Insurance

The last twelve months have seen strong levels of M&A activity in the U.S. energy tech and renewables sector. As this trend continues, we want to share a recent update on the increased use of representations and warranties...more

The Impact of Sabine Oil & Gas Corp. on Gas Gathering Agreements

by Saul Ewing LLP on

On March 10, 2017, the United States District Court for the Southern District of New York entered an order affirming a bankruptcy court ruling that permitted the debtors to reject certain gas gathering agreements, finding...more

DOJ Challenges Illegal Antitrust “Gun Jumping” In Energy Transaction

by King & Spalding on

The Department of Justice Antitrust Division recently brought a civil antitrust lawsuit against Duke Energy Corporation, alleging that the electric power generator engaged in illegal “gun jumping” by obtaining beneficial...more

Saudi Arabia’s Vision 2030 – Securing PPP Value for Money and the Criticality of Monitoring and Root Cause Analyses

by King & Spalding on

Introduction - Much of the PPP debate in Saudi Arabia has focussed on the importance of shifting the public sector expenditure burden to the private sector. Wherever this has been the sole focus of a PPP programme, the...more

Doing Compliance in an Economic Downturn

by Thomas Fox on

The city of Houston has seen a multi-year economic downturn from the drop in the price of oil. Every company in the energy space has been required to dramatically cut its work force, including unfortunately, it compliance...more

"Oil and Gas Industry Seeks Steady Ground Following Year of Restructurings, Restrictive Lending"

Crude oil and natural gas prices reached multiyear lows of approximately $26 per barrel for crude oil (as of January 2016) and $1.50 per million British thermal units (mmbtu) for natural gas (as of March 2016). This...more

Sustainability Reporting Trends in the New Year – ’16 going on ‘17

by Foley & Lardner LLP on

If you’re feeling uncertain or confused about the future of sustainability reporting in the United States, you’re not alone. With the business world’s adoption of sustainability reports moving full steam ahead—and increasing...more

Eastern District of Louisiana Dismisses Officer Compensation Fraudulent Transfer Claims in Tow v. Bulmahn

by Locke Lord LLP on

The U.S. District Court for the Eastern District of Louisiana dismissed a Chapter 7 bankruptcy trustee’s claims against officers and inside directors of ATP Oil & Gas Corporation in Tow v. Bulmahn on Wednesday. In Tow v....more

Limited Partners Take a Licking in Two Delaware Supreme Court Decisions

by Farrell Fritz, P.C. on

Notwithstanding the ascendency of the limited liability company, the Delaware limited partnership continues to serve as an important, tax-advantaged vehicle for certain capital-intensive ventures — especially in the energy...more

Saudi Arabia unveils new US$50 billion water desalination programme - The Kingdom to offer privatisations as well as new water...

by King & Spalding on

The Ministry of Environment, Water and Agriculture of Saudi Arabia has announced a new water desalination programme involving private sector participation worth over an estimated US$50 billion. The programme will be...more

Failure to Report Uplift Payments, Capacity Sales, Corrective Action Taken, Highlight FERC EQR Audit

by Cozen O'Connor on

The Federal Energy Regulatory Commission’s (FERC) recent audit of a company participating in numerous wholesale power markets highlights errors that can occur with electronic quarterly reports as well as the actions suggested...more

Managing Risks in Acquisitions from Financially Challenged Sellers in the Resources & Energy Sector

by King & Spalding on

Impact of Low Commodity Prices - After a decade long boom in the resources and energy sector, prices across almost all commodities declined from 2012, with particularly sharp declines during 2015 and into 2016, as supply...more

Return of the MAC – Material Adverse Change Clauses Making a Comeback in Oil and Gas Deals

by Latham & Watkins LLP on

For many years, US and UK M&A practices have differed in their use of material adverse change clauses (MACs) in sale and purchase documents. Common, even ubiquitous in the US, these clauses, which permit a buyer to refuse to...more

DC Circuit Ruling Threatens to Topple FERC Tax Allowance Policy

by Morgan Lewis on

Court rules that FERC policy permitting a tax allowance for pass-through entities may unjustifiably permit “double-recovery” of tax expense. On July 1, the US Court of Appeals for the District of Columbia Circuit issued...more

Transfer of Operatorship of Oil and Gas Assets Upon Insolvency

by Bennett Jones LLP on

Operating agreements for oil and gas assets typically contemplate the immediate replacement of the operator by another working interest owner in the event of the operator’s insolvency. However, these provisions often become...more

Sabine Lives On (and On): Bankruptcy Court Rejects Immediate Appeal to Second Circuit and Motion for Stay

by Bryan Cave on

On June 16, 2016, The Bankruptcy Cave gave you our summary of the controversial Sabine decision. At that time, post-hearing motions were pending. As luck would have it (we at The Bankruptcy Cave should start wagering on...more

Revised Mining Charter published for comment

by Dentons on

On 15 April 2016, the Department of Mineral Resources published the Reviewed Broad-Based Black Economic Empowerment Charter for the South African Mining and Minerals Industry, 2016 (Draft Mining Charter) for public comments....more

Five Key Points about the New European Union Conflict Minerals Agreement

On June 15, the European Union announced that it had reached a “political understanding” on many of the substantive components of a new conflict minerals regulation. The regulation, once drafted, will be submitted to the...more

SEC Proposes Rules to Update Disclosure Requirements for Mining Registrants

by Morrison & Foerster LLP on

On June 16, 2016, the Securities and Exchange Commission (the SEC) issued a press release proposing rules to modernize disclosures for mining properties (the “Proposed Rules”), currently set forth in Item 102 of Regulation...more

Delaware Chancery Court Dismisses Challenge to MLP Drop Down Transaction

by Bracewell LLP on

The Delaware Chancery Court recently dismissed a challenge to a transaction in which a master limited partnership (the "MLP") repurchased an interest in a crude oil pipeline in 2015 previously sold to its general partner (the...more

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