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Second Circuit Affirms Debtors’ Ability to Reject Gathering Agreements in Bankruptcy Cases

On May 25, 2018, the United States Court of Appeals for the Second Circuit (the “Court”) affirmed a district court’s affirmance of a bankruptcy court’s decision in In re Sabine Oil & Gas Corp. that permitted a debtor to...more

Second Circuit Affirms Debtors' Ability to Reject Gathering Agreements in Bankruptcy Cases

On May 25, 2018, the United States Court of Appeals for the Second Circuit (the “Court”) affirmed a district court’s affirmance of a bankruptcy court’s decision in In re Sabine Oil & Gas Corp. that permitted a debtor to...more

Third Circuit Rejects Unsecured Oil Producers’ Claims of Automatic Perfection

On July 19, 2017, the U.S. Court of Appeals for the Third Circuit (the “Court”) issued an opinion, upholding a district court’s ruling that downstream purchasers took oil purchased from a bankrupt intermediary, SemGroup L.P....more

Energy Newsletter - April 2017

Navigating Private Equity Fund Limitations for Energy Infrastructure-Focused Investments - Energy infrastructure funds have emerged as a class of funds that offer investors the potential for long-term stable returns, as...more

District Court Upholds Bankruptcy Court’s Ruling on Rejection of Gathering Agreements

On March 10, 2017, the United States District Court for the Southern District of New York (the“Court”) affirmed on appeal a bankruptcy court’s prior decision in In re Sabine Oil & Gas Corp. that permitted a debtor to reject a...more

District Court Upholds Bankruptcy Court’s Ruling on Rejection of Gathering Agreements

On March 10, 2017, the United States District Court for the Southern District of New York (the “Court”) affirmed on appeal a bankruptcy court’s prior decision in In re Sabine Oil & Gas Corp. that permitted a debtor to reject...more

Midstream Contracts Remain in Doubt in Bankruptcy

By now, both producers and midstream companies are aware of the Bankruptcy Court decisions in the Sabine bankruptcy proceedings (i) rejecting the gas gathering agreements as executory contracts and (ii) determining that the...more

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