Companies looking to purchase non-operating working interests will review longstanding operating agreements, or negotiate the terms of new operating agreements, to ensure that appropriate non-operator rights are present and enforceable ...
On January 4, 2018, the U.S. Department of the Interior ("Department") announced its draft proposal of the 2019-2024 Outer Continental Shelf ("OCS") Oil and Gas Leasing Program that would reopen nearly all federal waters to offshore leasing for new oil and gas operations ...
In January 2018, Mexico’s Ministry of Energy (“SENER”) published several Guidelines as part of the applicable rules for the Wholesale Power Market (“WEM”) in the Federal Gazette. This Haynes and Boone alert is important to all participants of the WEM, including qualified users, suppliers, marketers, non-suppliers and generators. 1 ...
Diversity has been a trending topic for the last years. It shows that we, as a society, are acknowledging the past practices of our industries in which one small group of individuals have a platform to thrive and grow within our institution while other groups might have a harder time. There are exceptions to this rule, but it is undisputable that for certain people due to their sex, sexual orientation, race, religion, etc. it’s harder to break the glass ceiling ...
This is a reminder to all corporations whose employees or former employees exercised an incentive stock option or made a purchase under the corporation's employee stock purchase plan (ESPP) in 2017 ...
In case you have been in a coma, major tax changes to the Internal Revenue Code were passed in December 2017. See Pub. L. 115-97 (115th Cong., 1st Sess.). Those changes make it much more attractive (from a tax perspective) to arrange one’s affairs like a business owner. Broadly speaking, the new tax law changed the landscape so that many business owners will now benefit from dramatically lower tax rates (e.g., the corporate rate has not been this low since 1939) ...
Comment letters to oil and natural gas exploration and production (E&P) companies by the Division of Corporation Finance of the Securities and Exchange Commission (SEC) indicated several major areas of concern for the Division during 2017 regarding companies’ disclosures. Many of the topics addressed were similar to those raised by the Division’s staff in 2015-2016, but some were new, such as the staff’s focus on non-U.S ...
Doing Business 2018: Reforming to Create Jobs, a World Bank Group flagship publication, is the 15th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies—from Afghanistan to Zimbabwe—and over time ...
The Serbian Competition Commission (the "Commission") recently fined four undertakings for bid rigging in the public procurement for the maintenance of train wagons. The contracting authority, the "Nikola Tesla" power plant, which represents the largest electricity-producing complex in Serbia, informed the Commission about possible collusion in public procurement for repair services for the train wagons it uses in coal transportation ...
As seen in the National Law Review: Attorney General Jeff Sessions has caused chaos in the marijuana industry and is forcing those who have made efforts to create legalized businesses in compliance with state laws to ponder whether their anticipated profits will go up in smoke. In a memo to all U.S. attorneys, Sessions rescinded Obama-era decrees that restrained prosecutors from enforcing federal drug laws in states that acted to legalize marijuana under their own laws ...
With a new proxy season fast approaching, it’s time for public companies to do a deep download of key securities law updates and business developments of the past year so the company is positioned for success in 2018. Below is a review of the 2017 proxy season, along with a summary of new and anticipated changes that may impact reporting and disclosure requirements for the upcoming 2018 proxy season ...
The Tax Cuts and Jobs Act (the "TCJ Act") signed into law by President Trump on December 22, 2017, creates sweeping changes in the way individuals and businesses are taxed. One of the most important changes involves the taxation of pass-through entities and directly implicates the standards for qualified small businesses stock ("QSBS") under IRC section 1202 ...
The Basic Laws of Israel that comprise the county’s constitution specifically grant Israel’s citizens the right to privacy as a basic human right. This practice note provides an overview of the regulation of data protection and privacy in Israel, presented in a question and answer format. Legislative Framework • Question 1: Summarize the legislative framework for the protection of personally identifiable information (PII) ...
As seen in Bank Director The process of establishing a de novo bank always has been complicated and time-consuming, and occasionally even painful. But since the beginning of the financial crisis, it seems that obtaining deposit insurance for a de novo bank has become a nearly impossible task. The Federal Deposit Insurance Corp. received 1,738 applications for deposit insurance from 2000 through 2008, and approved 1,258 of those applications—an approval rate of 72 percent ...
As you likely know, Brexit negotiations are underway, with the UK scheduled to withdraw from the EU on March 29, 2019. As a result of the withdrawal, all EU laws will cease to apply to the UK as of March 30, 2019 unless additional agreements or transitional processes are put into place before the scheduled exit ...
As of late this year [1], the Agency of Natural Resources and Energy announced that it has issued deadlines for the submission of renewable energy application documents, etc. based on the FIT Act in FY 2017. Upon submission of these applications, etc. they will be reviewed by the Ministry of Economy, Trade and Industry (METI), however, every year, the review process tends to be stalled because of the large number of applications submitted at the end of the fiscal year ...
The U.S. International Trade Commission (“ITC”) issued a determination at the end of 2017, finding that solar panel imports are hurting domestic businesses that operate in the solar industry. The ITC’s determination was issued in connection with a trade case filedby a Georgia-based company, Suniva, Inc., shortly after filing for bankruptcy protection. SolarWorld Americas, Inc. joined Suniva’s petition ...
Mexico maintains a minimum strategic storage inventory of crude oil and refined oil products, such as gasoline, diesel, and jet fuel, to guarantee market supply for a determined period of time. Under Article 80 Section II of the Hydrocarbons Law, the Ministry of Energy (“SENER”) has the authority to issue public policies to determine the required strategic storage volumes ...
On December 7, 2017, the Ministry of Energy (“SENER”) announced the first bidding process for the financing, installation, maintenance, management, and operation of the Baja California Electric System interconnection with the National Grid (“National Grid”). This is the first power transmission project allowing private participation in power transmission lines in Mexico. The estimated investment will be US$1.1 billion ...
The draft laws implementing AMLD 4 set out strict rules to allow for protection against improper access to the information on BOs. At the of 2017, the Luxembourg Parliament published two draft laws to implement new transparency measures provided by Directive 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (“AMLD 4”) ...
The 41st session of the administrative council of the African Regional Intellectual Property Organization (“ARIPO”) recently took place in Lilongwe, Malawi. Several documents on the administrative aspects of the organisation were discussed at the meeting, including the proposed programme of activities for 2018, and proposals to amend some ARIPO treaties to continually keep them in line with international trends ...
As part of the implementation of the Mexican energy reform of 2013, several new regulations and administrative guidelines affecting the hydrocarbons and power industries were issued during November 2017. These are of particular importance to oil and gas producers, midstream companies and power generators, traders and others looking to invest or expand operations in Mexico’s dynamic energy sector. I. Hydrocarbons November 8, 2017 ...
If you have ever received a trade mark letter of demand, the chances are that you thought one or more of the following things: long, scary, legalistic, absurd, incomprehensible. It is far less likely that you thought any of these things: perfectly reasonable request, clearly explained, a tricky issue handled with charm and tact – but things may be changing. Recently, the trade mark counsel of US company TGI Fridays sent a letter of demand to a bar in Chicago called Moneygun ...
The trade mark laws of many countries specifically mention product shapes among the items that can enjoy trade mark protection – shape trade marks are often referred to as “3D trade marks”. Yet, registering and enforcing 3D trade marks can be very difficult, particularly in Europe. This is evident from the latest UK court decision regarding London taxis ...
