Document(s) published by this organization: 78
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|Remit: The Road to Enforcement|
Doron F. Ezickson, Adam Topping; Cadwalader, Wickersham & Taft LLP;
July 14, 2015, previously published on July 2, 2015Following a number of recent developments, described below, the rules and regulations enacted under the European Union (EU) Regulation on Wholesale Energy Markets Integrity and Transparency (REMIT) are now close to being fully-implemented. Market participants must ensure they are now prepared for...
|Supreme Court Upholds Premium Subsidies in 34 States with Federally-Facilitated Marketplaces|
Christina T. Holder, Pamela Landman, Stephanie Marcantonio, Paul W. Mourning; Cadwalader, Wickersham & Taft LLP;
June 26, 2015, previously published on June 25, 2015Today the U.S. Supreme Court handed down its much anticipated decision in King v. Burwell, a case challenging the legality of Federal subsidies provided to individuals in the 34 States that did not establish State-based American Health Benefit Exchanges (“State Exchanges”), and instead...
|Second Circuit Holds Application of State Usury Laws to Third-Party Debt Purchasers Not Preempted by National Bank Act|
Nathan Bull, Scott A. Cammarn, Michael S. Gambro, Stuart N. Goldstein, Jordan M. Schwartz; Cadwalader, Wickersham & Taft LLP;
June 23, 2015, previously published on June 8, 2015On May 22, 2015, in Madden v. Midland Funding, LLC1 (“Madden”), the United States Court of Appeals for the Second Circuit held that the application of state usury laws to third-party assignees is not preempted by the National Bank Act (the “NBA”) but rather such assignees...
|Tariff Compliance Is Not Enough: FERC Imposes Nearly Thirty-Five Million Dollars in Penalties and Disgorgement against Powhatan Energy Fund and Its Trading Associates|
Doron F. Ezickson, Thomas Reid Millar, Mary Treanor; Cadwalader, Wickersham & Taft LLP;
June 18, 2015, previously published on June 2, 2015On May 29, 2015, the Federal Energy Regulatory Commission (“FERC”) issued an Order against Powhatan Energy Fund, LLC and its trading partners, Dr. Houlihan Chen, HEEP Fund, LLC and CU Fund, Inc. (together, “Powhatan”). FERC imposed civil monetary penalties of more than $29...
|Such A Fact Pattern Does Not A $5 Million Penalty Make.|
Doron F. Ezickson, Thomas Reid Millar, Katherine Vorhis; Cadwalader, Wickersham & Taft LLP;
June 18, 2015, previously published on May 19, 2015Or so says one dissenting FERC Commissioner in the recent Maxim Power enforcement proceeding.1 On May 1, 2015, FERC issued an order assessing civil penalties (the “Order”) of $5 million against Maxim Power Corporation and its named subsidiaries (“Maxim”),2 as well as $50,000...
|CFTC Issues Proposed Order to Exempt Certain SPP Transactions from Regulation Under Most Provisions of the CEA and CFTC Rules|
Sohair A. Aguirre, Paul J. Pantano, Lamiya Rahman; Cadwalader, Wickersham & Taft LLP;
June 16, 2015, previously published on May 21, 2015On May 19, 2015, the Commodity Futures Trading Commission (“CFTC” or “Commission”) issued an order in response to an application from Southwest Power Pool, Inc. (“SPP”) proposing to exempt three categories of SPP transactions (“Covered Transactions”)...
|Supreme Court Holds That Orders Denying Plan Confirmation Are Not Final for Appellate Purposes|
Ingrid Bagby, Mark C. Ellenberg, Casey John Servais, Christopher J. Updike; Cadwalader, Wickersham & Taft LLP;
June 16, 2015, previously published on May 21, 2015On May 4, 2015, a unanimous United States Supreme Court in Bullard v. Blue Hills, 135 S. Ct. 1686 (2015), resolved a long-standing circuit court split by holding that a bankruptcy court’s order denying confirmation of a debtor’s proposed bankruptcy plan is not a “final”...
|A Looming Crisis: Illinois Supreme Court Strikes Down Statute Reducing Benefits|
Ingrid Bagby, Thomas J. Curtin, Mark C. Ellenberg, Daniel Gwen, Ellen Halstead; Cadwalader, Wickersham & Taft LLP;
June 16, 2015, previously published on May 19, 2015On May 8, 2015, the Supreme Court of the State of Illinois struck down recently enacted state public pension reform legislation on the grounds that the legislation violated the “pension protection clause” of the Illinois constitution. The legislation had sought to reduce...
|IRS Mulls Change to Spinoff Rules|
William P. Mills, Richard M. Nugent, Linda Z. Swartz; Cadwalader, Wickersham & Taft LLP;
June 10, 2015, previously published on May 27, 2015In a statement that would mark a stark change in approach, an IRS official recently indicated that the IRS may begin requiring that companies seeking to effect tax-free spinoffs conduct active businesses that represent a minimum percentage of the companies’ assets. The official noted that the...
|M&A Update: Delaware Supreme Court Issues Important Ruling Protecting Independent Directors|
William P. Mills, Brittany Schulman, Martin L. Seidel; Cadwalader, Wickersham & Taft LLP;
May 25, 2015, previously published on May 18, 2015On May 14, 2015, the Delaware Supreme Court ruled that claims against independent directors must be dismissed when a company charter provision shields directors from monetary liability for breach of the duty of care and the plaintiffs are unable to plead facts establishing that the directors...