FUELING ANIMOSITY - NextEra Energy Marketing sued Koch Energy Services for breach of contract Friday in New York Southern District Court in connection with disputed charges arising from Winter Storm Uri. The complaint, brought by Locke Lord, accuses Koch Energy of wrongfully demanding payment of $8 million based on the plaintiff’s failure to deliver gas during the extreme weather event despite NextEra’s notice of Force Majeure. Counsel have not yet appeared for the defendant. The case is 1:22-cv-02457, NextEra Energy Marketing, LLC v. Koch Energy Services, LLC. Stay up on the latest deals and litigation with the new Law.com Radar.
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WHILE YOU WERE SLEEPING
NO MORE MANDATES - Kirkland & Ellis is halting fresh mandates for its private equity client Pamplona Capital Management, citing Pamplona’s ties to Russia-linked investor LetterOne, Law.com International’s Varsha Patel and Paul Hodkinson report. The Luxembourg-based investor is facing scrutiny due to former shareholders, Russian oligarchs Mikhail Fridman and Petr Aven. A statement from LetterOne earlier in March said that the duo’s shareholdings were “frozen indefinitely and they cannot receive dividends or any other financial benefit from LetterOne.” Kirkland mandates for Pamplona Capital in 2021 include its $8.5 billion sale of clinical research organisation Parexel and its acquisition of pest controller Pelsis, according to its website. This is the first known example of Kirkland pausing work in light of the ongoing Russia-Ukraine conflict, with all international law firms pulling out of Russia in response. A person with knowledge of the situation said the firm has taken a “strong” view on Russian companies and has “declined a huge number of mandates out of principle.”
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