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Copyright Co-Authorship: Be Prepared to Weather the Storms
To listen to the podcast, please click here . The recent Third Circuit decision in Brownstein v. Lindsay , --- F.3d ----, 2014 WL 306240 (3 rd Cir. Jan. 29, 2014) clarified important issues related to the statute of limitations...
Delaware Supreme Court Confirms The Path to Business Judgment Review In Controlling Stockholder Transactions
To listen to the podcast, please click here . On March 14, 2014, the Delaware Supreme Court issued its eagerly-awaited decision in Kahn v. M&F Worldwide Corp. , No. 334, 2013 (Del. March 14, 2014). The Court affirmed the Chancery...
Obama Directs Initiative to Update FLSA Overtime Regulations Likely to Tighten White-Collar Classifications
President Barack Obama on Thursday signed a Presidential Memorandum directing the Secretary of Labor to update the Fair Labor Standards Act (FLSA) regulations governing which "white collar" employees qualify for overtime exemptions. The stated goal of the initiative is to...
New Spotlight on Spill Prevention and Emergency Response
Two high-profile industrial accidents in the last year have focused public attention on compliance with often-overlooked federal standards for spill prevention and emergency response planning. As legislatures contemplate stricter standards and agencies dial up their enforcement, industrial facilities may wish...
Supreme Court Upholds Arbitration Award in Favor of British Natural Gas Investor in Argentina
To listen to the podcast, please click here . On March 5, 2014, the United States Supreme Court upheld a $185 million arbitration award obtained by the United Kingdom's BG Group PLC against the Republic of Argentina, pursuant to a...
Partnership Verdict In Dallas: You May Be Married and Not Know It
On Tuesday, March 4, 2014, a Dallas jury found that Enterprise Products Partners, L.P. ("Enterprise") had entered into a partnership with Energy Transfer Partners, L.P. ("ETP") to jointly develop a crude oil pipeline from Cushing, Oklahoma to the Texas Gulf...
The Future of the UK North Sea: A New Game with More Rules
On 24 February 2014, Sir Ian Wood delivered his Final Report (the " Report ") on the future of the UK Continental Shelf (" UKCS "). The Report sets out a number of conclusions and recommended actions relating largely to...
The Supreme Court Extends the Sarbanes Oxley Act Whistle-Blower Protections
To listen to the podcast, please click here . On Tuesday, the U.S. Supreme Court ruled that the whistle-blower protections of Section 806 of the Sarbanes Oxley Act apply to employees of privately held companies that are contractors or subcontractors...
FERC Confirms the Long Reach of Open Access Requirements
This week the Federal Energy Regulatory Commission (FERC) put to rest any doubt that transmission rights pursuant to a pre-Order No. 888 transmission service agreement are subject to the FERC's open access regime when the agreement is modified or becomes...
Third Circuit Asks U.S. Attorney General for Opinion on Federal Power Act Pre-emption of State Law
In an unusual move, on February 21, 2014 the Court of Appeals for the Third Circuit ("Third Circuit") asked the U.S. Attorney General for his opinion as to whether the Federal Power Act ("FPA") preempts New Jersey's Long Term Capacity...
Paper Company, Arguing that FERC Lacks Jurisdiction over Demand Response, Files Motion to Dismiss FERC Manipulation Action
On December 2, 2013, FERC filed a Petition for an order affirming its assessment of a civil penalty in the District of Massachusetts against Lincoln Paper and Tissue, LLC ("Defendant"), alleging that the Defendant engaged in a manipulative scheme as...
FERC Responds to Barclays Motion to Dismiss as Without Merit and so Aggressive That if Granted it Could "Eviscerate" FERC's Ability to Regulate Wholesale Power Markets
On July 16, 2013, the Federal Energy Regulatory Commission ("FERC") issued an order finding Barclays Bank PLC ("Barclays"), Daniel Brin, Scott Connelly, Karen Levine, and Ryan Smith (together with Barclays, "Defendants") in violation of FERC's anti-manipulation regulations and assessed significant...
Beyond Shale: Are Methane Hydrates the Next Energy Source?
The energy of the future could lie buried deep underneath the world's oceans and the Arctic permafrost. Methane hydrates, also known as "flammable ice," are vast reservoirs of natural gas trapped in ice-like crystals and hold out the potential to...
Could You Be A Commodity Trading Advisor or Commodity Pool Operator and Not Know It?
As the Commodity Futures Trading Commission's ("CFTC") Division of Swap Dealer and Intermediary Oversight recently reminded market participants in a Staff Advisory , entities that meet the definition of a commodity trading advisor ("CTA") are subject to various regulatory requirements...
Second Circuit Reinforces High Pleading Burden for Director Duty of Oversight Claims
To listen to the podcast, please click here . In Welch v. Havenstein , No. 13-2648-cv, 2014 WL 322055 (2d Cir. Jan. 30, 2014) (summary order), aff’g In re SAIC Inc. Derivative Litigation , 948 F. Supp. 2d 366 (S.D.N.Y...