As our colleagues recently published on our Trade Practitioner blog, on May 5, 2023, the U.S. Department of Treasury, the agency tasked with administering the Committee on Foreign Investment in the United States (CFIUS), published a Proposed Rule (88 Fed. Reg. 29003) expanding the list of “military installations” that could trigger CFIUS authority over certain … Continue Reading
The Bipartisan Infrastructure Law (BIL) was enacted on November 15, 2021, yet the funding process is dynamic and evolving weekly. In fact, some programs have yet to be established. Unlike the COVID-relief packages in recent years, through which funding was allocated in one or two tranches and primarily through existing programs, the BIL – originally … Continue Reading
A key federal rule was recently amended that will impact environmental due diligence in real estate transactions. Real estate developers, lenders, and others are working to adjust their approaches to conform to the new American Society for Testing and Materials (“ASTM”) standard E1527-21. The US Environmental Protection Agency finalized a rule providing that this new standard … Continue Reading
As we end the first quarter of 2023, it’s safe to say no one could have anticipated the myriad of challenges that now face public-private partnership (“P3”) deals. Inflation continues unabated, while interest rates continue to rise. Supply chains are complicated and tangled, and the high-profile closure of Silicon Valley Bank and the two-stage rescue of First … Continue Reading
President Biden recently used his first veto to preserve the Department of Labor rule permitting ERISA retirement plan fiduciaries to consider ESG factors in their clients’ retirement investment portfolios so long as such considerations are relevant to a risk and return analysis. 29 C.F.R. § 2550.404a-1(b)(4) (2022). The Department of Labor’s (DOL) rule, titled “Prudence … Continue Reading
US Customs and Border Protection (CBP) recently held that a foreign flagged vessel could install electric transmission cables without violating the coastwise laws. This decision reflects a growing body of CBP rulings that address whether a Jones Act compliant vessel is required for specific aspects of an offshore wind project.… Continue Reading
It has been well documented that the world is facing multiple environmental problems. One such issue is that of biodiversity loss as populations grow and urbanisation takes hold. England has sought to challenge this global threat at the local level through the imposition of far more rigid biodiversity net gain requirements in their planning system. … Continue Reading
The Bond Buyer announced its annual Deals of the Year in several categories. The winner in the P3 category was a bond issuance which financed a portion of the $2.75 billion Fargo-Moorhead Metropolitan Area Flood Risk Management Project. The Fargo Moorhead project is a public-private partnership (P3), between the Red River Valley Alliance and the … Continue Reading
Those familiar with the UK infrastructure and energy sectors will be aware be aware that a Government-owned bank, established to fund projects in these sectors, has been talked about for some years, partially as a response to Brexit and the withdrawal of the European Investment Bank from the UK market, and also following the Government’s … Continue Reading
This month’s Construction Matters examines the purpose of bank guarantees pending the final resolution of a dispute, concurrent delays, and the recent western Australian Supreme Court decision to severe part of an adjudication determination beyond the adjudicator’s jurisdiction. In addition, we highlight a series of recent insights from around our firm that are topical to … Continue Reading
During the 2022 session, the Colorado legislature created a Public Private Partnership Office with the Colorado Department of Personnel & Administration. The office was created by the legislature to facilitate the use of public private partnerships as a project delivery device to develop underutilized state land, and to promote the use of P3 as a … Continue Reading
The Squire Patton Boggs Global Projects Initiative is excited to present our Global Projects View Blog. Working from our Firm’s global perspective on all things infrastructure, we are looking forward to offering our insights and commentary on the many challenges infrastructure projects underway encounter and identifying new challenges and solutions faced by projects as they … Continue Reading
Despite the Bipartisan Infrastructure Bill’s historic $1.2 trillion investment in U.S. infrastructure, the American Society of Civil Engineers estimates an additional $2 trillion is needed to repair our deteriorating infrastructure. The federal government cannot address U.S. infrastructure funding needs alone. The Federal Infrastructure Bank (“the Bank”) would work directly with states and localities to identify … Continue Reading
