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Mexico Projects Part III: Round Zero

As a follow-on to our client alerts “México Projects: Get Ready, Get Set . . .” and “México Projects Part II: Off to the Races!,” this alert summarizes one of the next steps of the Constitutional reforms opening both the oil...more

Don’t Cry for Me Argentine Bondholders: Argentina and Exchange Bondholders File Certiorari Petitions

On February 18, both Argentina and the Exchange Bondholders Group filed petitions for writs of certiorari with the Supreme Court, seeking review of the Second Circuit’s rulings in the pari passu litigation. We discuss below...more

Conflict Minerals Update: D.C. Circuit Hears Oral Arguments

In the Dodd-Frank Act of 2010, Congress required the Securities and Exchange Commission (SEC) to adopt a rule requiring transparency and disclosure regarding the use of “conflict minerals” sourced from the Democratic Republic...more

An Unprecedented Change in Mexican Energy Politics

In an unprecedented change in Mexican energy politics, the government has amended its Political Constitution to allow the participation of private capital in its upstream, midstream and downstream oil and gas businesses. The...more

Courts are Consistently Ruling that the Act of Production Privilege Will Not Defeat Grand Jury Subpoenas Calling for Foreign Bank...

On December 13, 2013, the United States Court of Appeals for the Fourth Circuit issued its decision in United States of America v. Under Seal. On December 19, 2013, the U.S. Court of Appeals for the Second Circuit issued its...more

Mexico Opens Up Its Energy Industry: The Liberalization of Mexico’s Energy Sector May Lead to New Opportunities for Investors

Mexico’s president, Enrique Peña Nieto, introduced a reform in August 2013, according to which the Mexican state will give up absolute control over the supply of oil, gas and electricity. The relevant bill changing the...more

México Projects Part II: Off to the Races!

On December 12, 2013, Mexico’s Federal Congress passed historic Constitutional reforms opening both the oil and gas and electricity sectors to private investment. Within 96 hours, the required 16 state legislatures...more

Revisiting the Mexican Energy Reform Part 1 of 3

I made an early review of the Mexican Energy Reform. Now it is time to revisit in full. This is part 1 of 3 for a series of posts trying to construe the recently approved Mexican Energy Reform. Despite the political opinions,...more

Historic reform in Mexico clears the way for foreign investment in energy sector: 5 key aspects

The energy reform proposed by Mexico’s Peña Nieto administration has been approved by the Mexican Congress and, in rapid succession, by a majority of the Mexican state legislatures. This sweeping, historic reform amends the...more

Landmark Mexican Energy Reform Is Approved

Energy Reform goes far beyond expectations. The 75-year monopoly by state-owned PEMEX ends, and a competitive wholesale power market is created. On December 12, 2013, the lower house of the Mexican Congress approved...more

Fourth Circuit Court of Appeals Holds that Required Records Exception Trumps Fifth Amendment

On December 13, 2013, the Fourth Circuit Court of Appeals in United States v. Under Seal, 2013 U.S. App. LEXIS 24785 (4th Cir. Va. Dec. 13, 2013), held that the required records doctrine applies when the government subpoenas...more

Mexican Energy Reforms Bring E&P Opportunities and Much More

Last week the Mexican Congress approved legislation including Constitutional amendments that were approved by the required number of Mexican states on December 16 that will bring changes to the nation’s energy laws that...more

Mexican Senate and House of Representatives Approve Constitutional Energy Sector Reform

A constitutional reform approved by Mexico's Senate and House of Representatives will transform the country's energy sector, pending expected approval by the majority of state congresses. ...more

Corporate and Financial Weekly Digest - November 15, 2013

In this issue: - SEC Division of Corporation Finance Issues 11 New C&DIs - Register for Our 2014 Proxy Season Update Webinar - CFTC Issues Cross-Border Transactions Advisory - CFTC Issues Guidance...more

Update on Mexican Energy Reforms – Concessions Regime in the Works

Ongoing political negotiations suggest that reforms to Mexico’s oil and gas laws will create a legal regime that will allow for concessions and production sharing contracts. As the Mexican Congress still debates proposed...more

Second Circuit Revives Terrorism Victims’ Suit Against Foreign Bank

On October 18, the U.S. Court of Appeals for the Second Circuit vacated and remanded a district court’s judgment and held that subjecting a foreign bank to personal jurisdiction in New York was within the reach of New York’s...more

Offshore Accounts Holders Have No Fifth Amendment Protections

In what is becoming an increasingly used attack vehicle, the Department of Justice (DoJ) is using the “required records doctrine” to compel taxpayer’s to produce what may be incriminating evidence of ownership or control of...more

Mexico's Quiet Energy Revolution

As the World focuses on dramatic shifts in government following the dawn of Arab Springs, a dramatic revolutionary change is quietly taking place with our neighbor to the south. Mexico's President Enrique Pena Nieto has...more

Bilateral Investment Treaties Would Likely Have a Key Role in Mitigating Investment Risks If Mexico Undertakes Energy Reforms

As described in detail in another article in this Newsletter entitled "Mexican Congress to Consider Constitutional Oil and Gas Reforms: Bold Stride Forward or Half-Step?," the reform of Mexico's energy industry and its...more

Mexican Congress to Consider Constitutional Oil and Gas Reforms: Bold Stride Forward or Half-Step?

In what amounts to a sea-change in Mexican energy politics, each of a parliamentary group of Partido Acción Nacional ("PAN") and the President of Mexico, Enrique Peña Nieto, is sponsoring its own bill to amend the Mexican...more

Energy Newsletter - October 2013

In This Issue: - Mexican Congress to Consider Constitutional Oil and Gas Reforms: Bold Stride Forward or Half-Step? - European Union adds legislative weight to the promotion of transparency in the extractive...more

Mexican Energy Sector Overhaul: Long-Awaited Energy Reform on the Table - President Peña Nieto Unveils Reform Proposal

On August 12, 2013, President Peña Nieto submitted to Congress a bill amending articles 27 and 28 of the Federal Constitution, aiming to reform the oil & gas and power sectors in Mexico (the “Bill”). The Bill is being...more

PEMEX debate focuses on foreign investment participation

Many experts believe that Pemex or Petroleos Mexicanos the state owned oil monopoly is the jewel of Mexico. For years it has funnelled billions into state treasury funds for schools, highways, ports and hospitals. Yet, even...more

The Financial Report - Volume 2, No. 15 • August 15, 2013

ESMA proposes delay in reporting date for exchange traded derivatives. The European Securities and Markets Authority has sent the European Commission its Final Report proposing an amendment to Article 5 of the Commission...more

Business News Digest – July 2013

In this issue: - CFPB's Office of Enforcement Issues a Bulletin - Court Rules Government Cannot Make "Extortionate Demands" on Persons Seeking Land-Use Permits - DOD Issues Proposed Regulations on the...more

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