Legal News

San Diego approves new housing blueprint that calls for tripling yearly construction through 2029 - Bullet The San Diego Union-Tribune – June 17 - The San Diego City Council last week unanimously approved a comprehensive new plan to boost local housing production by tripling the number of units built each year. The plan aims to help San Diego meet a state-mandated goal of 108,000 new housing units by 2029, which would require the annual number of units built to rise from 4,100 currently to....

The Impact of COVID-19 on Nuclear Electricity Sales Contracts in France - The electricity sector, like numerous others in France, has been heavily affected by the economic shutdown due to the COVID-19 pandemic. The first two weeks of confinement led to a reduction in electricity consumption in France of around 15 to 20% compared to the consumption usually observed at the same year period under equivalent weather conditions. Such a variation in electricity consumption over such a short period....

Many companies will consider selling their offshore captives/GICs in the wake of COVID-19, especially those in industries hard hit by the pandemic. Large outsourcing vendors are interested in acquiring offshore captives/GICs to secure long-term services agreements with companies....By: Pillsbury Winthrop Shaw Pittman LLP

Proposed retroactive application could expose investments made as from June 2, 2020, to ex post scrutiny. ??????? On June 2, 2020, the Dutch Government ("Government") announced that it plans to apply a proposed comprehensive foreign direct investment ("FDI") screening mechanism retroactively to investments and takeovers ("Investments") carried out as from June 2, 2020.  At the end of 2019, the Government informed the Dutch parliament about its intention to adopt a legislative proposal...By: Jo...

In a June 18, 2020, letter to the heads of the Antitrust Division of the Department of Justice and the Federal Trade Commission, several U.S. Senators expressed their views that the draft vertical merger guidelines (“Guidelines”) (first released for public opinion on January 10, 2020) need to be strengthened and completed as expeditiously as possible. In the letter, these Senators noted the following......By: Epstein Becker & Green

Introduction - Those entering into new construction contracts should include custom language addressing the parties’ respective rights and responsibilities related to COVID-19....By: Seyfarth Shaw LLP

The fifth of a six-part series examining six specific and evolving rights plan provisions. As discussed in greater detail in some of our prior articles, a shareholder rights plan is a protective measure used by a public company to deter (though not necessarily prevent) a stockholder from exceeding a specified ownership percentage without prior approval from the company’s board......By: Morrison & Foerster LLP

With the uncertainty of COVID-19 impacting construction projects in new and unfamiliar ways, choosing the right construction contract format has never been more important. A cost-plus contract — also known as a cost-reimbursement contract — can offer an attractive project format in the current construction environment. Defining project costs and expense using projected and agreed upon costs can be particularly attractive for both owners and contractors in roiling social and economic...By: Faeg...

Our team of M&A and project finance partners will discuss some key tips in maximizing efficiency in executing on the acquisition and financing of renewable energy projects, including: - Planning for tax equity in acquisition documentation - Projects with existing or proposed project-level or back-levered debt - Areas of focus in project documents - Financing structures and issues in front levered / back levered financings, including issues in procuring debt financing prior to TE commitment....

The SEC recently adopted comprehensive amendments to its rules that govern financial statement requirements for acquisitions or dispositions of significant businesses or other assets. The rules specify the historical financial statements of the business or assets and the related pro forma financial information a registrant must include in its Exchange Act and Securities Act filings. Registrants will first be required to comply with the amended rules at the beginning of their fiscal year...By: Ho...