We keep you up to date on the latest news and events affecting clients and ongoing litigation. Check back here often to see what the latest developments are and see if there is something relevant to you or your business.
Revised Finance Proposal
Client receives revised term sheet for $9.5 million in equipment finance to support foreign power production facilities. Following the recent issuance on March 12 of an initial term sheet for equipment finance, our client sought a revision of terms. The negotiation was successful and a subsequent revised term sheet was issued on March 20, 2015.
Client receives initial term sheet for $8.5 million in equipment finance. The funds will initiate the first phase of a multi-year plan to expand the production of equipment utilized in the production of alternative electrical energy. These initial test installations will include a mix of both government and commercial installations under commercial power purchase agreements ("PPA's").
Clean Energy Program Update
Client receives initial authorization to proceed with experimental clean energy program ("CEP"). In a response to the earlier submission by client and its affiliate, a governmental agency in Southeast Asia has agreed to move forward with the terms stipulated in the client submission, effectively authorizing the initial installation of alternative power generation systems. Upon success of the testing cycle, the agency has agreed to support the widespread distribution of the technology throughout the region.
Clean Energy Program Q & A
Client attends meeting in Southeast Asia to address questions and concerns relating to the submission of the request for government authorization and support for an experimental clean energy campus. Under the terms of the submission, the government would provide regulatory clearance to undertake the deployment of the the clean energy program ("CEP"), authorizing a first time installation of leading edge, alternative electrical generation systems.
Clean Energy Program ("CEP")
Client and its affiliate in Southeast Asia submit clean energy program ("CEP") plan seeking government authorization and support for an experimental energy campus to deploy and test new alternative electrical generation systems addressing strategic and environmental concerns stemming from dependence on foreign sourced, non-renewable fuel sources.
Pfizer attempts to limit discovery to St. Louis and Chicago
At a hearing before the Court on June 18, 2014, relating to the discovery calendar, Pfizer attempted to limit discovery to St. Louis and Chicago. Relators successfully defeated this effort and were granted nationwide discovery. The Court, in so ruling, noted that this case is national in scope.
Mineral joint venture client.
Mr. Burnham has been retained by a private company to oversee the formation of a multiparty joint venture between several private groups, an international mining company, and a US public company. The joint venture is being formed to process and recover precious and semiprecious elements from mineral reserves owned by the public company estimated to be worth in excess of $2.4 billion.
Pfizer's motion to dismiss.
On March 26, 2014, the Court granted in part and denied in part Pfizer’s motion to dismiss, allowing Relators to pursue federal FCA claims based on off-label promotion of Geodon for (1) children and adolescents, (2) bipolar maintenance, and (3) excessive dosage. Order at 49. The Court also allowed Relators to pursue claims based on kickbacks, as well as Relator Booker’s retaliation claim under 31 U.S.C. § 3730(h). [Order at 49, 51-52]
Clients issues 5 megawatts of commercial power purchase agreements for execution, subject to a request for quotation ("RFQ"). PPA's include resort hotel properties, condominium property, and commercial hospital.
Pfizer Discovery Update
Relators' motion to compel production of documents was granted as it relates to all speaker contracts.
Client engaged to consult on $300 million USD engineering, procurement, and construction ("EPC") infrastructure project.
On January 15, 2015, a client entered into a triparty MOU to form a new joint venture to merge interests in project specific deployments of leading edge technology platforms available to the parties of the JV.
On November 21, 2014, a client completed the financing submission packet for the acquisition of mineral assets, including the operation of a mineral processing, refining and commodity trading holding company.
JV Letter of Intent
On June 27, 2014, a joint venture and funding letter of intent was received from an international mining company, pushing forward the mineral joint venture.
Given the courts rejection of Pfizer's attempt to limit discovery in the pending False Claims Act litigation, the discovery process will begin over the next few weeks.
The Board of Directors of a public mineral company has approved our private client's offer to form a processing and recovery joint venture.