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Lateral Market Gets Boost From Oil and Gas Industry Legal Work
Not only have the Marcellus Shale natural gas reserves fueled legal work for litigators, land use and transactional attorneys alike, they have created movement in the lateral market as law firms look to build practices catering to the oil and gas industry's interest in the reserves. One recent example of the spike in activity: Reed Smith, which has about a half-dozen lawyers, spread among three offices and numerous practice groups, focusing on Marcellus Shale-related work.Oil generates business, attracts immigrants to Calgary
The population of Canada's main oil-producing region has soared by 37 percent to about 3.7 million in the past decade as companies such as Exxon Mobil and Statoil ASA attracted workers from China, Venezuela and the Philippines.CIBC Agrees to Pay $2.4 Billion to Settle Enron Claims
Canadian Imperial Bank of Commerce has agreed to pay $2.4 billion to resolve investors' claims it helped hide losses at Enron Corp., marking the biggest individual settlement since the energy trader collapsed in a massive accounting fraud. The settlement announced Tuesday with the Toronto-based bank -- Canada's fifth-largest financial institution and the operator of the securities firm CIBC World Markets -- could help compensate investors who lost tens of billions of dollars when Enron failed in 2001.TRENDING STORIES
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