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Potential Effects of Invading Iraq
Chadbourne surveyed power company executives, bankers and consultants in late September about what effects they foresee on the project finance market if the United States invades Iraq...
Project Finance NewsWire
October 2002
IN THIS ISSUE
The Giga-NOPR
The US government published 600 pages of proposals at the end of July that the newspapers said could transform how electricity is produced and sold in the United States...
Tax Issues In Debt Restructurings
Many banks and US power companies are currently engaged in debt restructuring talks, but the parties to these talks are not always aware of the minefield through which they walk...
Anticipating A Possible Bankruptcy
Creditors renegotiating debt terms should keep a watchful eye on the potential bankruptcy implications of the proposed restructuring, lest the troubled borrower eventually wind up in bankruptcy...
Mexican Electricity Reforms?
President Vicente Fox sent the Mexican Congress an energy reform package in mid-August. The initial reaction in Congress was sour, but the package is starting to attract support...
International Commercial Arbitration
This article discusses why arbitration — as opposed to other means – is usually the preferred method for settling disputes in cross-border transactions...
Brownfield Projects October 2002 Update | Norton Rose Fulbright
Companies redeveloping old industrial sites or so-called “brownfields” in the United States may be eligible for significant federal and state tax benefits on environmental remediation costs...
Environmental Update
NSR Reforms The Bush administration’s plans for reforming the “new source review,” or “NSR,” air permitting regime has come under fire from Senate Democrats and environmentalists...
IN OTHER NEWS
Tukey suggested that some private power projects will have to renegotiate the pricing, term and guarantee provisions in their power sales contracts | Norton Rose Fulbright
TURKEY suggested that some private power projects will have to renegotiate the pricing, term and guarantee provisions in their power sales contracts...
US depreciation bonus rules remain in flux | Norton Rose Fulbright
THE US DEPRECIATION BONUS rules remain in flux...
Dutch Supreme Court will decide whether a common strategy that many companies use to avoid capital taxes on money run through holding companies in Holland works | Norton Rose Fulbright
THE DUTCH SUPREME COURT will decide whether a common strategy that many companies use to avoid capital taxes on money run through holding companies in Holland works...
IRS Agents raising questions on audit about a common foreign tax credit strategy involving stapled stock - FSA 200233016 | Norton Rose Fulbright
IRS AGENTS are raising questions on audit about a common foreign tax credit strategy involving stapled stock...
Electric interties continue to absorb IRS time | Norton Rose Fulbright
ELECTRIC INTERTIES continue to absorb IRS time...
Six synfuel projects are under audit by IRS | Norton Rose Fulbright
SIX SYNFUEL PROJECTS are under audit by the IRS. At issue is whether the projects qualify for section 29 tax credits. The US government offers a tax credit of $1...
US Ex-Im Bank held a public hearing to discuss its new proposed procedures for determining if a financing has an adverse effect | Norton Rose Fulbright
THE US EXPORT-IMPORT BANK held a public hearing on September 24 to discuss its new proposed procedures for determining whether an Ex-Im Bank financing might have an adverse economic impact in the ...
Argentina will no longer require borrowers to get prior approval from the central bank before making principal and interest payments | Norton Rose Fulbright
ARGENTINA said in September that it will no longer require Argentine borrowers to get prior approval from the central bank before making principal and interest payments on certain loans from forei...
Brazil
Brazil increased the PIS tax rate from 0.65% to 1.65% effective on December 1, but also allowed a crediting mechanism that will reduce the taxes owed in some cases.
Peru
Peru threatened to renegotiate tax stability contracts with foreign investors, but then backed away.
California
California said that out-of-state generators who sell electricity into California earn their income outside the state.
Tax Planning Memos
TAX PLANNING MEMOS from an accounting firm had to be turned over to the Internal Revenue Service, but similar written advice from two law firms was protected from disclosure...
Maryland oil pipeline is not subject to real property taxes | Norton Rose Fulbright
AN OIL PIPELINE is not subject to real property taxes, a Maryland appeals court said...
Tax treaties do not override statutes enacted later by Congress | Norton Rose Fulbright
TAX TREATIES do not override statutes enacted later by Congress, a US appeals court said. Air Liquide, a French company, paid royalties to its US subsidiary...
Minor Memos
The Interstate Natural Gas Association of America is expected to ask the
US Treasury Department for a ruling that gas intertie payments do not have to be reported by interstate pipelines
