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Linn Energy skips interest payment

Oil and gas producer Linn Energy LLC said it planned to skip interest payments on some of its senior notes due on Friday, after making bond payments that were deferred last month. Linn Energy and its unit, Berry Petroleum Co LLC, planned to skip interest payments of a total of $58 million, due Friday and […]

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A Warning Shot Across the Bow for Investors in Business Development Companies (“BDCs”)

An April 10, 2016 article in The Wall Street Journal (“A $2.5 Billion BDC Halts Redemptions After Limit Reached”) describes how volatile markets have prompted a “rush of investors” to attempt to redeem their investments in non-traded Business Development Companies. The Business Development Corporation of America (“BDCA”), a $2.5 billion fund, said in a securities […]

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Will Energy Master Limited Partnerships (MLPs) Decimate Unsuspecting Investors?

Recent statistics indicate that there are over 110 MLPs trading on major exchanges, with oil & gas midstream activities – gathering, processing, natural gas compression, pipelines, storage, refining, distribution, and marketing – representing the dominant activity. The latest U.S. Securities & Exchange Commission filings by a number of Energy Master Limited Partnerships (“MLPs”), however, provide […]

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Energy Master Limited Partnerships – Investors May be the Ones Getting Drilled

As noted in an April 1, 2016 article in The Wall Street Journal (“MLP Investors’ Maze of Tax Trouble Keeps Getting Worse”), investors are learning the hard way that energy MLPs, set up to shield companies from Uncle Sam, could have unexpected tax consequences when times get tough. It is yet another sign investors didn’t […]

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Seadrill Ltd. Class Actions Combine Their Stock and Options Claims

A Manhattan federal judge on Tuesday consolidated three fraud class action suits claiming Bermuda-based Seadrill Ltd. misled investors with vows to preserve its chunky dividend payments, adding to the original stock-purchasing plaintiffs a new universe of claimants who bought options in the offshore drilling giant. U.S. District Judge Lorna G. Schofield’s move set up a […]

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