The Texas Supreme Court recently released its anticipated opinion in Eagle Oil & Gas Co. v. TRO-X, L.P., 18-0983, 2021 WL 1045723, at *1 (Tex. Mar. 19, 2021) (“Eagle II”). The Eagle II case is the second case that arose between TRO-X, L.P. (“TRO-X”) and Eagle Oil & Gas Co. (“Eagle”) regarding their agreement to … Continue Reading
On April 5, 2021, the Financial Crimes Enforcement Network (“FinCEN”) released its advance notice of proposed rulemaking (“ANPRM”) to solicit public comments on questions pertinent to its implementation of the Corporate Transparency Act’s (“CTA”) beneficial owner reporting requirements. As discussed in a previous Energy Law Blog post, the CTA was adopted as part of the … Continue Reading
Technology Assisted Review (TAR), also known as predictive coding or computer-assisted review, has been defined as “[a] process for prioritizing or coding a collection of documents using a computerized system that harnesses human judgments of one or more subject matter expert(s) on a smaller set of documents and then extrapolates those judgments to the remaining … Continue Reading
The Corporate Transparency Act, adopted as part of the 2021 National Defense Authorization Act (the “Act”), will require certain business entities (defined as “reporting companies”) to disclose to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) the identities of their beneficial owners and applicants. FinCEN will use these disclosures to create a … Continue Reading
On January 25, 2021, the United States Supreme Court dismissed, as “improvidently granted,” a writ of certiorari it had previously granted on a petition asking it to consider “[w]hether a provision in an arbitration agreement that exempts certain claims from arbitration negates an otherwise clear and unmistakable delegation of questions of arbitrability to an arbitrator.” … Continue Reading
Following through with President Biden’s campaign promise to halt oil and gas drilling on federal lands, on January 20, 2021, the Acting Secretary of the U.S. Department of Interior (“Interior”) issued an order, effective immediately, mandating a 60-day moratorium on new oil and gas leases and drilling permits on public lands and waters (“Order”).… Continue Reading
On October 26, 2020, the U.S. Small Business Administration (“SBA”) published a notice seeking comment on two Loan Necessity Questionnaires (Form 3509 for “for-profit” entity borrowers and Form 3510 for “non-profit” entity borrowers) that are to be submitted by borrowers who have received Paycheck Protection Program (“PPP”) loans and are seeking forgiveness of those loans … Continue Reading
In the midst of a chaotic year and a tense campaign season, issues such as COVID-19, race relations, and healthcare seem to be at the forefront of Americans’ minds as they head to the polls on November 3. But the oil and gas industry stands to be impacted regardless of the election outcome in November, … Continue Reading
The long-awaited proposed changes to the Department of Interior’s Financial Assurance Rule (“Proposed Rule”) were finally announced yesterday by the Trump Administration. The announcement provides, among other things, that the proposed rulemaking is in efforts to clarify, streamline and provide greater transparency to the financial assurance requirements (e.g., supplemental bonding) for OCS lessees and grant … Continue Reading
Commercial Lease Considerations in the Wake of Hurricane Laura Following disasters such as Hurricane Laura, business owners have a variety of concerns when beginning the recovery process. Chief among those concerns: what to do when your place of business has been damaged or destroyed? If you lease your place of business, or if you lease … Continue Reading
Yesterday the U.S. Securities and Exchange Commission adopted final rules that amend the definitions of “accredited investor” and “qualified institutional buyer” which are central to classifying investors that may participate in private offerings and investments under federal securities laws. A company wishing to offer or sell securities to the public must register those securities with … Continue Reading
On July 15, 2020, the Unites States Customs and Border Protection (“CBP”) issued a ruling (HQ H309672) in connection with the installation of an offshore wind farm located off the coast of Rhode Island and Massachusetts in U.S. territorial waters (the “July 15 Ruling”). CBP determined that activities to be conducted in connection with the … Continue Reading
On June 19, 2020, the Internal Revenue Service (the “IRS”) issued Notice 2020-50 which expands the categories of individuals eligible for coronavirus-related distributions (“CRDs”), loans, and loan repayment suspensions as well as resolves some of the issues that were concerning plan administrators and employers under the CARES Act. Under Section 2202 of the CARES Act, … Continue Reading
On June 15, 2020, the United States Supreme Court ruled that Title VII of the Civil Rights Act of 1964 (“Title VII”) – which bans employment discrimination on the basis of race, color, religion, national origin, and sex – prohibits discrimination based on sexual orientation and transgender status. This decision marks a pivotal change from prior … Continue Reading
Updated July 8, 2020 On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, which established, in relevant part, the Paycheck Protection Program (PPP), a loan program that offers eligible borrowers the potential for loan forgiveness. For more information on the PPP … Continue Reading
The Department of Labor (the “DOL”), the Treasury Department (the “Treasury”), and the Internal Revenue Service (the “IRS”) have recently issued guidance extending certain deadlines and providing certain relief for retirement plans in response to the current COVID-19 pandemic. Discussed below are (1) EBSA Disaster Relief Notice 2020-01, (2) DOL “COVID-19 FAQs for Participants and … Continue Reading
On May 19, 2020, the Occupational Safety and Health Administration (“OSHA”) issued two noteworthy enforcement memos. The first memo announced the reversal of OSHA’s April 10, 2020 policy that limited the requirement to track on-the-job cases of COVID-19 to health-care facilities, emergency response providers, and corrections facilities. The new policy, which goes into effect on May 26, … Continue Reading
Updated August 31, 2020 On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, which established, in relevant part, the Paycheck Protection Program (PPP), a loan program that offers eligible borrowers the potential for loan forgiveness. For more information on the PPP … Continue Reading
The Equal Employment Opportunity Commission (EEOC) has authorized employers to test employees for the COVID-19 virus before permitting them to enter the workplace.… Continue Reading
In addition to the SBA’s Payment Protection Program (PPP) and Economic Injury Disaster Loans (EIDL), on April 9, 2020, the Federal Reserve announced that it was going to provide up to $2.3 trillion in loans to support the economy through various programs, including the Main Street Lending Program (“MSLP”). The MSLP will support credit flow … Continue Reading
Liskow & Lewis is committed to serving its clients as they adapt to the unprecedented economic consequences of the ongoing COVID-19 pandemic. As part of this commitment, the firm has created a COVID-19 Lending Resource page for the lending programs established by the CARES Act, which provides economic relief for small and medium firms, including … Continue Reading
Background The Coronavirus Pandemic has wreaked havoc on small and mid-sized businesses (“SMBs”) throughout Texas and the rest of our country. Many SMBs have had to close their doors due to mandatory stay-at-home orders and other social distancing orders and requirements. The CARES Act and other recent legislation passed by Congress and signed into law … Continue Reading
Updated August 31, 2020 On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, which provides for various economic stimulus measures, including a new loan program regulated by the U.S. Small Business Administration (SBA) called the Paycheck Protection Program (PPP). You can … Continue Reading
On Friday, March 27, 2020, President Trump signed into law the CARES Act, which contains many provisions designed to mitigate the impact of the Coronavirus pandemic. Liskow & Lewis attorneys John T. Bradford and Jeffrey P. Birdsong wrote about four of those provisions which affected the implementation of the 2017 Tax Cuts and Jobs Act … Continue Reading
