In this Final Rule, the Federal Energy Regulatory Commission revises its regulations governing interstate natural gas pipelines to prohibit multiple affiliates of the same entity from bidding in an open season for pipeline capacity in which the pipeline may allocate capacity on a pro rata basis, unless each affiliate has an independent business reason for submitting a bid. The Commission does not find it necessary to adopt its proposal in the Notice of Proposed Rulemaking that if more than one affiliate of the same entity participates in such an open season, then none of those affiliates may release any capacity obtained in that open season pursuant to a pro rata allocation to any affiliate, or otherwise allow any affiliate to obtain the use of the allowed capacity.
INSURANCE: The trial court correctly declared that two insurers that had similar other insurance clauses in their policies owed underinsured-motorist coverage on a pro-rata basis, but the court erred in determining the pro-rata shares.
All interested qualified parties are hereby invited to participate with Ark Land Company on a pro rata cost-sharing basis in its program for the exploration of coal deposits owned by the United States of America in Sanpete County, Utah.
Pursuant to the Mineral Leasing Act of 1920, as amended by the Federal Coal Leasing Amendments Act of 1976, and to Bureau of Land Management (BLM) regulations, all interested parties are hereby invited to participate with Antelope Coal LLC, on a pro rata cost-sharing basis, in its program for the exploration of coal deposits owned by the United States in Campbell County and Converse County, Wyoming.
The federal estate tax recovery statute doesn't override the intent of a husband and wife that taxes be paid on a pro-rata basis from trusts created upon their deaths, the Washington Court of Appeals has ruled in affirming judgment. Under 26 U.S.C. Sect. 2207A, a survivor's estate is entitled to recover federal estate taxes attributable to a Qualified Terminable Interest Property (QTIP) trust.
The cancellation of insurance policies is a common occurrence. Every day insurance agencies receive requests from insureds to cancel coverage and insureds receive notices from insurance companies that their coverage is about to be canceled. If there is a battle over the cancellation, all parties will look to the same section of the policy to justify their argument. If the insurance company requests the cancellation, the return premium is calculated on a pro rata basis. If the first named insured requests the cancellation, the insurance company has the right to return "less than pro rata." It is always best to calculate the return premium using both of the methods.
TORONTO (HedgeWorld.com) - KPMG LLC, the court-appointed receiver for the shuttered Portus Group hedge fund operation, has recommended to a Canadian court that the entire entity be entered into a bankruptcy proceeding and that assets be returned to investors on a pro rata basis. The bankruptcy and distribution route is the best way to deal with the mess of accounts and transactions, KPMG has concluded from its investigation of how the C$811.5 million (US$695 million) hedge fund operation wound up frozen by Canadian securities regulators earlier this year, after co-founder Boaz Manor fled to Israel. There, he has refused to meet with officials from KPMG and Canadian law enforcement.
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