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A recent decision in the criminal case against the founder of a now-defunct-but-once-cutting-edge life science start-up affirmed that corporate attorney/client privilege lies in the hands of estate fiduciaries, not the company or its executives. The decision should also serve as a reminder to executives that to ensure that their communications remain privileged, they should delineate their personal interests in contrast to those of their company.
On March 1, 2021, Brazos Electric Power Cooperative, Inc. filed for chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. In its first-day pleadings, Brazos cited the catastrophic weather events in Texas in February as the sole cause of the company’s insolvency. That unprecedented winter storm caused a statewide energy crisis that lasted for days, resulting in rolling blackouts that left millions without power.
On March 11, 2021, Cred. Inc. and its affiliates confirmed a liquidating plan under chapter 11 of the U.S. Bankruptcy Code. Though many matters in the Cred bankruptcy cases remain unresolved — including potential criminal and civil claims against the company’s former management — confirmation of the liquidating plan is a key milestone in unwinding a complicated enterprise in an even more complicated industry. Notably too, these cases represent the first instance where a major U.S.-based cryptocurrency operation sought relief and eventually confirmed a plan under chapter 11.
Despite the challenges of the COVID-19 pandemic, 2020 was a successful year for the Emerging Industries and Technology Committee. Committee membership has steadily increased over the last year. In addition, most members have joined the committee’s LinkedIn group page, and all new members to our committee promptly receive an email from the co-chairs welcoming them to our group. The committee continues to encourage additional growth and invites all ABI members to join.
The Crescent Dunes Solar Energy Project in Nye County, Nev., is one of the largest utility-scale solar power plants in the U.S. The project utilizes more than 10,000 heliostats, or large mirror assemblies, to collect and focus the sun’s thermal energy, which the project then uses to generate electricity for sale. At the time of its construction, the project was unique among solar energy plants for many reasons, including its use of a nondegradable energy-storage technology that can produce electricity at night, in the absence of sunlight.
It is a commonly accepted rule across the country that if a debtor has direct connections with marijuana – for example, cultivating the plant or leasing space to a dispensary or grow facility – that the debtor cannot seek relief under the U.S.
