On May 21, 2020, the U.S. Treasury Department published a proposed rule to modify the regulations of the Committee on Foreign Investment of the United States (CFIUS). The proposed rule would modify the mandatory declaration provision for certain foreign investment transactions involving critical technologies to base it on export… Read more
Partner Eric Johnston, a member of the firm’s Employment Practice Group, provided insight about possible litigation and steps gyms should take as they reopen in the coming weeks. The article, Legal questions to mind as gyms and other fitness centers reopen, was published by the Austin Business Journal online… Read more
McGinnis Lochridge's Oil & Gas Newsletter: Producer's Edge keeps clients informed about Texas oil and gas case law, regulatory updates, and insightful articles relevant to the oil and gas community. In this edition, we feature articles regarding lessor/lessee issues to consider when navigating the “new normal,” surviving oilfield economic turmoil amidst COVID-19, and… Read more
The McGinnis Lochridge International Trade & Transactions Newsletter keeps clients informed about updates on international trade and transactions matters across the country and around the world. This issue focuses on new EAR amendments that aim to restrict efforts by entities in China, Russia, and Venezuela from obtaining certain U.S.-origin products… Read more
The Railroad Commission voted today to dismiss a motion for proration and curtailment of Texas crude oil production. On March 30, 2020, Pioneer Natural Resources U.S.A., Inc. (“Pioneer”) and Parsley Energy, Inc. (“Parsley”) filed a joint motion with the Railroad Commission of Texas… Read more
There is a silver lining to the current economic environment for those interested in estate planning techniques to transfer wealth out of their taxable estates with little or no gift tax consequences. These estate planning opportunities include sales to grantor trusts, intra-family loans, and gifts to trusts such as Grantor Retained… Read more
On May 1, 2020, the State Department’s Directorate of Defense Trade Controls (DDTC) announced temporary suspensions, modifications, and exceptions to the International Traffic in Arms Regulations (ITAR) in light of the current public health emergency resulting from the COVID-19 virus. Changes include two-month extensions for ITAR registration renewal… Read more
On April 30, 2020, OFAC published an enforcement action against American Express Travel Related Services Company (“Amex”) resulting from 41 violations related to transactions processed on behalf of Gerhard Wisser, an individual added to OFAC’s Specially Designated Nationals and Blocked Persons (SDN) List in 2009. The violations were a… Read more
On April 28, 2020, the Commerce Department’s Bureau of Industry and Security (BIS) published two final rules and one proposed rule that aim to prevent efforts by entities in China, Russia, Venezuela, and other countries listed in Country Group D:1 of the Export Administration Regulations (EAR) from acquiring U.S. products and… Read more
On April 24, 2020, the U.S. Trade Representative informed Canada and Mexico that the U.S. had completed all preparatory domestic procedures as its last step prior to finalizing and implementing the U.S.-Mexico-Canada Agreement (USMCA). Both Mexico and Canada gave notice earlier in April of their readiness to proceed… Read more
In the recently released Chambers USA 2020 rankings, McGinnis Lochridge was one of only two firms ranked Band 1 in Texas in Energy: State Regulatory & Litigation (Oil & Gas). The firm was also ranked Band 2 in Austin and the surrounding area in Litigation: General Commercial. Managing Partner Read more