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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

Treasury releases guidance describing process for evaluating cost basis for Treasury Grant purposes

  • Hunton & Williams LLP
  • -
  • USA
  • -
  • July 1 2011

On June 30, 2011, the Treasury Department released guidance describing the process for evaluating the cost basis of projects qualifying for a Treasury Grant under Section 1603 of the American Recovery and Reinvestment Act