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Inflation Reduction Act
New Saudi Companies Law 2022: Key Changes, and Next Steps for Companies in KSA
Background On 28 June 2022, the Saudi Cabinet of Ministers approved the New Companies Law, and it was published in the official gazette (Umm Al Qura newspaper) on 4 July 2022 pursuant to Royal Decree No. (M/132) dated 01/12/1443H (the...
Crypto Assets in the Voyager Bankruptcy: Can Customers Recover?
The crypto winter has overcast the summer for many Voyager customers. Upon the commencement of Voyager’s chapter 11 filing in July, customer accounts were frozen. Unable to trade their own crypto assets, some frustrated customers rushed to consult with legal...
Better Late Than Never: Delaware Bankruptcy Court Determines That 546(e) Avoidance Safe Harbors Are Available to Defendants That Only Qualify as Financial Participants Several Years After the Subject Transaction in In re Samson Resources Corp.
Following an August 4, 2022 memorandum opinion from Judge Brendan L. Shannon of the United States Bankruptcy Court for the District of Delaware, a party to a safe harbored contract can qualify as a “financial participant” under section 546(e) of...
Meet the new NNPC – different from the old NNPC?
What has happened? The Nigerian National Petroleum Corporation has officially “relaunched” as NNPC Limited in a high profile ceremony led by President Buhari. This transition involves the incorporation of a new CAMA company, which is wholly owned by the Nigerian...
A Cloudy Forecast?
Renewables has become the buzz word in the energy and infrastructure space like no other. Certainly 2021 closed out with record procurements across the Gulf and the Middle East more broadly, signalling an entrenched energy transition which few would call...
Voyager: The Convergence of Chapter 11 and the Crypto Winter
Voyager Digital Assets, Inc., a leading cryptocurrency brokerage and lending platform, filed for Chapter 11 bankruptcy protection on July 5, 2022 in the Southern District of New York following a recent financial crisis impacting the crypto industry, which investors are...
FINRA Facts and Trends: July 2022
Two Years Later, Regulation BI Remains a “Tremendous Priority” for FINRA June 30 th marked two years since the implementation of Regulation Best Interest (“Reg BI”) and the client relationship summary or Form CRS. Firm compliance with these new regulations...
In re TPC Group Inc: Delaware Bankruptcy Court Determines that Issuance of Priming Senior Notes is Not Prohibited Absent Express Anti-Subordination Provision
Following a July 6, 2022 memorandum opinion from the United States Bankruptcy Court for the District of Delaware, lenders and noteholders seeking to preserve the priority of their liens must make any desired subordination protections explicit in their security documents...
FINRA Facts and Trends: June 2022
Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. FINRA’s enforcement arm has turned its attention to policing...
CFTC 2022: A New Commission, A New Agenda, Same Aggressive Enforcement
The Commodity Futures Trading Commission (the “Commission” or “CFTC”) experienced a year of transition on both the enforcement and regulatory fronts during its Fiscal Year 2021, which runs from October 1, 2020 through September 30, 2021 (“FY 2021”). The Division...
The Progressive Case
Public budgets are under pressure – made worse in this period of high inflation. These factors, combined with the increased need for infrastructure improvements, has prompted the public and private sectors to seek pragmatic ways to improve the procurement process...
The New UAE Labour Law: An Evolution Rather Than a Revolution
February 2, 2022, saw the introduction of the new UAE Labour Law (Federal Law No. 33 of 2021) (“New Law”), replacing the previous 1980 legislation. The New Law was supplemented by a corresponding set of Executive Regulations dated February 3...
FINRA Facts and Trends
Understand What’s Happening in the Financial Industry Regulatory World With Commentary and Updates From Bracewell’s Experienced FINRA Team We are pleased to introduce the inaugural issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting...
Knock-for-Knock Indemnities: Risk Allocation in Offshore Energy Contracts
What are knock-for-knock indemnities? A knock-for-knock clause is a reciprocal agreement to apportion liability for certain losses (usually, death or injury to personnel and damage to property) between contracting parties, supported by mutual indemnities. A knock-for-knock regime replaces the fault-based...
CCS and the Role of Project Finance
The UN Climate Change Conference in 2021, known as “COP26”, highlighted the scale of global carbon emissions and the speed with which they must be addressed in order to meet net zero targets by 2050. Carbon capture and storage (“...