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8/21/2014
Author(s) - Angela Franklin
Holland & Hart News Update
To state the obvious, one of the most important aspects of any lease, deed, assignment or any other contract is making sure the appropriate party executes it. If the wrong person signs it, it will be either invalid or voidable at best. This is exactly what happened when only one manager of a limited liability company signed a 99 year lease. Unfortunately, the articles of organization on file with the secretary of state required both of the managers identified therein to sign such a lease. The lessee did not know there were two managers or that the articles of incorporation contained such requirement. The court found that the manager who signed the lease lacked actual and apparent authority to execute the lease and the lease was declared invalid. To assist in determining the appropriate party to execute a lease, deed, assignment or other contract, set forth below is a list of the common entities and scenarios that may be encountered in any title examination or transaction.
8/21/2014
Author(s) - Catherine Bazile
Holland & Hart News Update
An oil and gas farmout agreement is an agreement by the owner of an oil and gas lease (the “farmor”) to assign all or part of the working interest in that lease to another party (the “farmee”), who agrees to drill a well and do testing on the property in exchange for the opportunity to earn a formal assignment of working interest. The farmout agreement usually requires the farmee to drill a well to a certain depth, at a specified location, and within a certain time frame, at the farmee’s own risk and expense. Typically, the farmee must complete the well as a commercial producer to earn an assignment, because the farmor desires to preserve the lease (although some farmouts require only drilling to earn). Generally speaking, the greater the risks a farmee takes, the greater the area in which the farmee will earn an interest.
8/5/2014
7/30/2014
Author(s) - Kim Stanger
Holland & Hart News Update
Federal laws generally prohibit providers from billing for services ordered by, or contracting with, persons or entities that have been excluded from participating in Medicare, Medicaid, or other federal health care programs. Violations may result in significant penalties, including repayment of amounts improperly received. To avoid penalties, providers should check the OIG’s List of Excluded Individuals and Entities (“LEIE”) before hiring, contracting with, or granting privileges to employees, contractors, or practitioners, and should periodically re-check the LEIE thereafter.
7/30/2014
Holland & Hart News Update
On July 29, 2014, the U.S. Treasury Department, acting under the authority granted by President Obama's Executive Order 13662, materially escalated sanctions against Russia, imposing a broad-based package of restrictions on Russian entities in the financial services sector. Additionally, the President authorized the blockage of exports of specific goods and technologies that would benefit Russia's energy sector, and increased sanctions on Russian defense companies. The U.S. also suspended the use of credit that encourages exports to Russia, as well as financing for development projects in the country. These new penalties against Russia follow tougher sanctions agreed to by European Union leaders earlier on Tuesday, July 29, 2014.