The term “Highest and Best” deal has been well-known in the bankruptcy field for many years. In a bankruptcy auction of a business or real property, the judges, trustees and creditors recognize that the better deal is not...more
Over the last few years, the government has shifted away from lowest price technically acceptable valuations placing a larger importance on past performance. The past performance requirement can sometimes create obstacles for...more
On December 9, 2022, Guyana released the preliminary terms for an oil and gas tender covering a total of 14 offshore blocks, including 11 deep water blocks and three shallow water blocks.1 Guyana estimates that the blocks...more
The bankruptcy Pegasus: stalking horse agreements in aviation - The Covid-19 pandemic has had a significant impact on the aviation industry, with regular international travel being halted for prolonged periods since March...more
Can contractors “shop” bids after obtaining and using them to obtain contract awards? Generally speaking, the answer is yes under Virginia law. However, the law varies in other jurisdictions. While this may not seem...more
In light of the rise of investments in transportation projects, the Accountant General of the Ministry of Finance, the Director General of the Ministry of Transport, and the Manager of the Government Companies Authority...more
Steel and other construction material tariffs necessitate careful evaluation and allocation of project cost and schedule risks. For example, when steel costs increased suddenly based solely on presidential executive orders,...more
The question of when parties to a potential transaction actually become bound to each other is obviously an important one, and sometimes the answer can be surprising, or less than entirely clear. A recent Texas Court of...more
The court’s decision allows subcontractors to place unforgiving terms in their bids and gives them an ultimate out if general contractors do not agree to those terms. General contractors should pay attention to a...more
The historic tender for shallow water blocks in the Gulf of Mexico will allow for private and foreign investment in Mexican oil and gas for the first time in almost 80 years. On July 15, Mexico’s National Hydrocarbons...more