News & Publications

On January 25, 2019, the US Federal Energy Regulatory Commission ("FERC" or "Commission") issued an order clarifying its position with regard to bankruptcy filings that seek to reject Commission-jurisdictional wholesale power purchase agreements. In response to a petition for a declaratory order and complaint filed by NextEra Energy, Inc. and NextEra Energy Partners, L.P. (NextEra) against Pacific Gas and Electric Company (PG&E) in anticipation of PG&E's bankruptcy filing, FERC concluded that it has concurrent jurisdiction [...]

Bankruptcy practitioners are generally familiar with the significant growth that has been happening in the use of mediation as a means of resolving disputes within bankruptcy cases. In contrast, another dispute-resolution tool frequently used outside of bankruptcy — arbitration — is not often utilized in bankruptcy cases. There might be a variety of reasons for this — from the (mistaken) belief that arbitration is not available to parties within the confines of a bankruptcy case, [...]

In a recent decision in the high-profile Momentive bankruptcy cases, the United States District Court for the Southern District of New York upheld the Bankruptcy Court's dismissal of an intercreditor action brought by senior debt holders against junior debt holders arising from the implementation of Momentive's chapter 11 plan of reorganization.1 Upon a de novo review, the District Court affirmed Judge Drain's ruling in its entirety, finding that the second lien noteholders did not violate [...]