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Kentucky bankruptcy court holds that coal mining lease is not an executory contract or unexpired lease and is transferable pursuant to section 363 despite an anti-assignment provision
  • Weil Gotshal & Manges LLP
  • USA
  • July 20 2015

When a contract is called a lease and has some characteristics of a lease, but operates to grant the lessee the exclusive right to mine and remove


Keeping the lights on in Puerto Rico
  • Allen & Overy LLP
  • Puerto Rico, USA
  • July 9 2015

On July 1, 2015, the Puerto Rico Electric Power Authority (PREPA) avoided default by making a $415 million payment to bondholders and buying time to


Is triangular set-off enforceable under US laws?
  • Reed Smith LLP
  • USA
  • January 29 2009

It is not uncommon to find in trading agreements triangular set-off provisions, also commonly referred to as “cross-affiliates” set-off clauses


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


NAESB contract not protected by Bankruptcy Code safe harbor provisions
  • McDermott Will & Emery
  • USA
  • October 8 2007

The decision of the U.S. Bankruptcy Court in Hutson v. Smithfield Packing Co. (In re National Gas Distributors, LLC) poses potentially serious problems for parties trading gas under the North American Energy Standards Board (NAESB) base contract


Energy Future Holdings more bad news for bondholders on make-whole premiums
  • Kelley Drye & Warren LLP
  • USA
  • July 14 2015

For the second time in the past few months, Judge Christopher Sontchi has dashed the hopes of certain creditors in the Energy Future Holdings ("EFH"


Third Circuit reaffirms 1999 O’Brien decision regarding application of Bankruptcy Code Section 503(b) to break-up fees of stalking horse bidders
  • Squire Patton Boggs
  • USA
  • April 28 2010

In 1999 the Third Circuit Court of Appeals rendered its decision in Calpine Corp. v. O’Brien Environmental Energy, Inc. (In re O’Brien Environmental Energy, Inc.), 181 F.2d 527, denying Calpine Corporation’s request for the payment of a break-up fee after Calpine lost its effort to acquire the assets of O’Brien Environmental Energy out of bankruptcy


The characterization of an ORRI conveyance in bankruptcy
  • Munsch Hardt Kopf & Harr PC
  • USA
  • August 27 2015

A bankruptcy court’s characterization of a debtor’s pre-petition conveyance of an overriding royalty interest (“ORRI”) has an important effect on


Drilling down: a deeper look into the distressed oil & gas industry part 3the ability to assume or reject oil and gas leases
  • Weil Gotshal & Manges LLP
  • USA
  • February 5 2015

The oil and gas world embraces a language all its own. It’s a language that is wrapped in history and littered with unique terms of art, acronyms


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