Proceed

The federal government may proceed with its attempt to seize about $13 million in cash and assets from the estate of Enron Corp. founder Kenneth Lay, who died last year (see Daily GPI, July 6, 2006), according to a district court judge in Houston.

A district court judge in Houston has ruled that the federal government may proceed with its attempt to seize about $13 million in cash and assets from the estate of Enron Corp. founder Kenneth Lay, who died last year (see NGI, July 10, 2006).

Upon clarification by Calypso U.S. Pipeline LLC, FERC earlier this month reversed its position in a January order and said the company could proceed with the construction of 10 miles of its proposed offshore Florida pipeline when an affiliate’s proposed deepwater liquefied natural gas (LNG) port, with which it would interconnect, obtains a green light from the U.S. Maritimes Administration (MARAD).

Upon clarification by Calypso U.S. Pipeline LLC, FERC Friday reversed its position in a January order and said the company could proceed with the construction of 10 miles of its proposed offshore Florida pipeline when an affiliate’s proposed deepwater liquefied natural gas (LNG) port, with which it would interconnect, gets the green light from the U.S. Maritimes Administration (MARAD).

The 5th U.S. Circuit Court of Appeals in New Orleans has ruled that Enron Corp. shareholders may not proceed with a class action lawsuit against the company’s former investment banks for their alleged role in the accounting fraud that destroyed the company. The appeals court’s ruling reverses a decision by U.S. District Judge Melinda Harmon in Houston. Harmon approved the original class action lawsuit by the shareholders, and she then expanded it in January, allowing 30 state attorneys general to join the case (see NGI, Jan. 15). The 5th Circuit opinion read in part, “As we have recognized, class certification may be the backbreaking decision that places ‘insurmountable pressure’ on a defendant to settle, even when the defendant has a good chance of succeeding on the merits.” William Lerach, one of the shareholders’ attorneys, said the legal team likely will appeal the ruling “as quickly as possible.”

The 5th U.S. Circuit Court of Appeals in New Orleans Monday ruled that Enron Corp. shareholders may not proceed with a class action lawsuit against the company’s former investment banks for their alleged role in the accounting fraud that destroyed the company.

FERC last Tuesday gave Starks Gas Storage LLC the go-ahead to proceed with the construction of the first stage of a two-cavern salt dome storage facility that will be located between Lake Charles, LA, and the Texas border.

FERC on Tuesday gave Starks Gas Storage LLC the go-ahead to proceed with the construction of the first stage of a two-cavern salt dome storage facility that will be located between Lake Charles, LA, and the Texas border.

FERC has given Dominion Cove Point LP the green light to proceed with the construction of expansion facilities at its liquefied natural gas (LNG) import terminal in Lusby, MD.