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Results: 1-10 of 33

Fifth Circuit finds that an electricity requirements contract is a “forward contract” exempt from Bankruptcy Code’s avoidance powers

  • Cadwalader Wickersham & Taft LLP
  • -
  • USA
  • -
  • October 11 2012

On August 2, 2012, the United States Court of Appeals for the Fifth Circuit held that a requirements contract for electricity is a forward contract for purposes of section 546(e) of the Bankruptcy Code and, therefore, settlement payments made under the contract are exempt from avoidance as preferences

Fifth Circuit applies safe harbor protection to power supply contract in real estate manager's bankruptcy

  • Hunton & Williams LLP
  • -
  • USA
  • -
  • August 28 2012

On August 2, 2012, the United States Court of Appeals for the Fifth Circuit issued its decision in Lightfoot v. MXEnergy Elec., Inc. (In re MBS Mgmt. Servs., Inc.), Case No. 11-30553 (5th Cir. 2012), holding that a real estate management company’s electricity supply contract qualified as a “forward contract”, payments on account of which are protected from avoidance as preferential transfers under the Bankruptcy Code’s “safe harbor” provisions

Perfection and priority of oil & gas producers' liens in doubt

  • Gardere Wynne Sewell LLP
  • -
  • USA
  • -
  • June 25 2009

Oil and gas producers in Texas and a handful of other states have had the comfort of believing that they held purchase money security interests against the production in the hands of first purchasers and proceeds of that production

A closer look at the Bicent Power bankruptcy

  • Fox Rothschild LLP
  • -
  • USA
  • -
  • April 29 2012

On April 23, 2012, Bicent Holdings LLC, and various related entities (collectively "Bicent" or the "Debtors") filed petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware

Provide the electric service and keep the money: the latest development in bankruptcy law involving payments made to an electric supplier

  • Bracewell & Giuliani LLP
  • -
  • USA
  • -
  • August 7 2012

On August 2, 2012, the Court of Appeals for the 5th Circuit issued a decision in Lightfoot v. MXEnergy Electric, Inc. (In re MBS Management Servs., Inc.). No. 11-30553, (5th Cir. Aug. 2, 2012

National gas distributors case broadens swap safe harbor, or does it?

  • Dentons
  • -
  • USA
  • -
  • March 13 2009

On Feb. 11, 2009, the United States Court of Appeals for the Fourth Circuit issued its opinion in Hutson v. E.I. Dupont de Nemours and Co. (In re National Gas Distributors), attempting, in a matter of first impression, to define "commodity forward agreement" for purposes of eligibility for protection under the safe harbor provisions of the Bankruptcy Code

Defending preference actions: understanding your rights as a creditor

  • Liskow & Lewis
  • -
  • USA
  • -
  • July 14 2014

There is nothing more frustrating to a creditor than finally getting paid for goods or services, only to have a customer file for bankruptcy

Energy Future Holding Corp. files a chapter 11 case to restructure roughly $50b of debt

  • Gardere Wynne Sewell LLP
  • -
  • USA
  • -
  • May 6 2014

On April 29, 2014, power giant Energy Future Holding Corp. ("Energy Future"), along with 70 subsidiaries, filed for chapter 11 protection in the

Semcrude decision delineates the process for analyzing motions for continuance vs. motions for summary judgment

  • Fox Rothschild LLP
  • -
  • USA
  • -
  • August 14 2011

an 24 page decision signed June 20, 2011, Judge Shannon of the Delaware Bankruptcy Court partially granted several parties’ motions for a continuance opposing several motions for summary judgment, holding that a motion for continuance must be analyzed before even considering a motion for summary judgment

Delaware Bankruptcy Court cuts off electricity providers’ access to Section 503(b)(9) of the Bankruptcy Code

  • McGuireWoods LLP
  • -
  • USA
  • -
  • November 13 2013

The Bankruptcy Court for the District of Delaware recently ruled in In re NE OPCO, Inc., 2013 Bankr. LEXIS 4569 (Bankr. D. Del. Nov. 1, 2013), that