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In A Usurpation Of Corporate Opportunity Case, The Texas Supreme Court Reversed A Constructive Trust Due To A Failure To Trace The...

by Winstead PC on

In Longview Energy Co. v. The Huff Energy Fund, LP, Longview Energy Company sued two of its directors and their affiliates after discovering one affiliate purchased mineral leases in an area where Longview had been...more

The Asia-Pacific Arbitration Review - 2018

by WilmerHale on

The Asia-Pacific region has seen a surge in the use of arbitration in recent years. Although it is difficult to draw general conclusions about a large and incredibly diverse geographical region that stretches from French...more

Supreme Court Decision on Statute of Limitations Governing SEC’s Recovery of Disgorgement Also Applies to FERC (but Practical...

On June 5, 2017, the U.S. Supreme Court, in Kokesh v. SEC, unanimously held that the Securities and Exchange Commission (SEC) cannot seek disgorgement of unjust profits obtained outside of the five-year statute of limitations...more

Brazil's Developing Gas Marketing: Opportunities for Arbitration

by WilmerHale on

Historically, natural gas did not play a significant role in Brazil’s energy mix, never exceeding 4% of Brazil’s primary energy supply until the late 1990s. Today, natural gas accounts for 12% of Brazil’s primary energy...more

El Salvador Makes History and Bans All Mining - Will other countries follow?

by Bennett Jones LLP on

On March 29, 2017, El Salvador’s legislature unanimously voted to ban all metallic mining, including for gold, in the Central American country. El Salvador is the first country in the world to impose a blanket ban on mining...more

Hydrocarbons Win One and Lose One in Battles With Crawfish

by Gray Reed & McGraw on

In re: Louisiana Crawfish Producers arises out of the collision between two of Louisiana’s favored enterprises: crawfish and hydrocarbons....more

Canadian Mining Company Strikes Gold in US Court

by WilmerHale on

Arbitration analysis: Steven Finizio and Manuel Casas at WilmerHale, consider the US District Court’s decision in Crystallex v Venezuela to uphold the $1.2bn damages award and suggest that the case reaffirms the deferential...more

Global Private Equity Newsletter - Spring 2017 Edition: Purchase Price Adjustment Disputes: Drafters Beware

by Dechert LLP on

It is common practice for purchase agreements in private company M&A transactions to contain one set of rules to determine and resolve disputes regarding a post-closing purchase price adjustment and a separate, often vastly...more

Supreme Court of Illinois Says Courts Can Decide ARES Rate Disputes

by Foley & Lardner LLP on

Courts – not the ICC – have jurisdiction over rate cases involving an ARES, said the Supreme Court of Illinois.[1] In a unanimous opinion written by Chief Justice Karmeier, the Court in December answered the Seventh Circuit’s...more

As Agency Enforcement Efforts Mount, CFTC Prohibits Private Lawsuits Against RTOs/ISOs for Market Manipulation

by Moore & Van Allen PLLC on

Incidents of alleged fraud and market manipulation in the energy markets increasingly have received the attention of federal agency enforcement efforts, including the Federal Energy Regulatory Commission (FERC) and the...more

The Rule Against Perpetuities is Alive and Enforceable in Oklahoma

by Gray Reed & McGraw on

Today we venture into Oklahoma, to be instructed on the Supreme Court’s treatment of the Rule Against Perpetuities. First, the Rule: No property interest is good unless it must vest, if all, not later than 21 years after...more

FERC Enforcement Releases 2016 Annual Report

On November 17, 2016, the Federal Energy Regulatory Commission’s (FERC or “Commission”) Office of Enforcement (“Enforcement”) released its annual Report on Enforcement (the “2016 Report”). This year’s report is the 10th such...more

Option Contract Ruling Reversed by Texas Supreme Court.

by Gray Reed & McGraw on

North Shore Energy v. Harkins interpreted an Option Agreement between landowners and a producer over a 400 acre tract. In football they would say the Texas Supreme Court pancaked the plaintiff. In the law, some would call it...more

Texas Courts Continue Their Romance With Arbitration

by Gray Reed & McGraw on

The lessons in Craddick Partners Ltd. v. EnerSciences Holdings, LLC are three: Parties who have not signed an agreement to arbitrate have standing to compel arbitration; artful pleading to avoid arbitration won’t work; and...more

FERC’s Maxim Settlement Shows Continued Focus on ISO and RTO Bidding Conduct

On September 26, 2016, the Federal Energy Regulatory Commission (FERC or the “Commission”) issued an order1 approving a Stipulation and Consent Agreement between its Office of Enforcement (“Enforcement”) and Maxim Power Corp....more

Investigators Continue to Scrutinize Climate Change Disclosures

Critics Claim “Intimidation” - Earlier this month, on September 14, 2016, feuding parties gathered before the House Committee on Science, Space and Technology to address the legitimacy of subpoenas sent to the New York...more

The Eighth Circuit Extinguishes Claims of Continuing Conduct in Propane Tank Conspiracy

Before plaintiffs could light the pilot on antitrust claims against two propane tank distributors, a split Eighth Circuit panel cut the gas. In doing so, the majority espoused a narrow view of the applicability of the...more

Back to the Bulgarian Bad Guy, So Say the Justices

by Gray Reed & McGraw on

My blogging sensei Cordell Parvin says the title should always inform the reader of the content. Mea culpa on this one; I couldn’t resist the alliterations. Some time back I reported on Carlton Energy Group et al v....more

Federal Court Grants Full Civil Trial to FERC Enforcement Target

by Morgan Lewis on

The decision will likely affect the strategies of enforcement targets in electric market manipulation cases. For the first time, a federal district judge has held that a review of a Federal Energy Regulatory Commission’s...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

Forum Shopping Curtailed: Venue Limited to Parish Where Drilling Rig Was Lost

by Liskow & Lewis on

In a May 4, 2016 opinion, Louisiana’s Third Circuit Court of Appeal made clear that venue was not proper in Concordia Parish—where plaintiff filed suit for damages resulting from the loss of its drilling rig in LaSalle...more

Volkswagen proposes a settlement agreement with the U.S. Department of Justice. Judge Breyer sets a June 21 deadline for a...

by Downs Rachlin Martin PLLC on

Tris Coffin heads the Vermont Volkswagen Class Action litigation team at DRM that also includes Directors Bob Luce and Marc Heath. On the evening of April 20, a number of news outlets published stories that Volkswagen...more

Petronius To Petrobras – Fifth Circuit Reaffirms Test For Ocsla Versus Maritime Tort Jurisdiction

by Baker Donelson on

In 2006, the Fifth Circuit issued a landmark controversial opinion in Texaco Exploration & Production, Inc. v. AmClyde Engineered Products Co., 448 F.3d 760, 770 (5th Cir.) amended on reh’g, 453 F.3d 652 (5th Cir. 2006). The...more

One Arbitration Binds the Next: Alberta Court of Appeal Says Res Judicata Applies to Arbitrations

by Bennett Jones LLP on

The doctrines of res judicata and issue estoppel can, as a matter of law, apply to subsequent arbitration proceedings, the Alberta Court of Appeal recently held in Enmax Energy Corporation v TransAlta Generation Partnership,...more

A Corporate Opportunity? … Stolen?

by Gray Reed & McGraw on

If you want to get to the meaning of a case, one exercise is to put yourself in the shoes of one participant or the other and see how you react to the events. (This also works well with Bible stories, by the way.) Last week...more

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