Bankruptcy Environmental

Read Bankruptcy Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

December 2014 - Real Estate FOUNDATION

In this issue - The CERCLA Divisibilty Defense: Back from the Dead? - Springing Recourse for Breach of Solvency and Debt Payment Covenants? Does New York Need Cherryland Legislation? - Mid-Construction...more

Environmental Claims: The Gift That Keeps On Giving

Asarco LLC v. Goodwin, 756 F.3d 191 (2nd Cir. 2014) – A reorganized company (Asarco) sought contribution for payment of environmental claims from beneficiaries of trusts created under John D. Rockefeller’s will. The...more

Environmental Claims: Twenty Years Later

A Chapter 11 debtor moved to reopen its bankruptcy case more than 15 years after it was closed in order to enforce the plan confirmation order to prevent claims by a state environmental agency and other potentially...more

Friday 13th: an Unlucky Day for Scottish Liquidators

On 13 December 2013, the Court of Session ruled that the liquidators of The Scottish Coal Company Limited (SCC) were not able to disclaim ownership of certain open-cast mines and the environmental permits which were connected...more

Debtors Beware: Resolving Environmental Liabilities in a Judicially Approved Bankruptcy Settlement Triggers the Statute of...

When an entity that has filed a petition for relief under Chapter 11 of the U.S. Bankruptcy Code resolves its environmental liability to a state or the United States via a settlement agreement, there are several steps...more

Railroad Company Involved in Deadly Explosion Seeking Bankruptcy Protection

Railroad Company Involved in Deadly Explosion Seeking Bankruptcy Protection by Joel R. Glucksman on August 20, 2013 Railroad company Montreal, Maine & Atlantic Ltd., which has recently been in the media spotlight for...more

Acquiring Italian Distressed Renewable Energy Assets -- Handling Contractual Relationships with Insolvent Companies

Cuts of incentives, increase of competition and the economic crisis have driven many Italian renewable energy companies into financial distress. Dealing with distressed companies involves additional risks and, for foreign...more

The Seventh Circuit Cuts the Gordian Knot of NSR Interpretation: Preconstruction Review Cannot Lead to Continuing Violations

Last week, in United States v. Midwest Generation, the 7th Circuit Court of Appeals affirmed dismissal of EPA’s NSR enforcement action against Commonwealth Edison. Commonwealth Edison was the prior owner of the plants at...more

Solar Project Performance May Be Threatened By Satcon Bankruptcy - Semi-Annual Audits Should be Conducted to Ensure Project...

If your solar project uses Satcon-brand inverters to convert the direct current generated by your solar panels into alternating current, you may have recently received notice from Satcon or your installation contractor that...more

Bankruptcy Loses Arguments for Special Relief Under Prepetition Agreements for Environmental Liability

A recent case from the U.S. District Court for the Southern District of New York addressed the recurring conflict between the goals of bankruptcy law, which seeks to give debtors a fresh start, and the goals of federal and...more

Focus on Insolvency and Environment: Newfoundland and Labrador v. AbitibiBowater Inc., 2012 SCC 67 (the “Abitibi case”): Clean-Up...

Introduction - The Supreme Court of Canada (the “SCC”) recently released an important decision relating to how provincial clean up orders against corporations may be treated when that corporation enters creditor...more

Renewable Energy Update -- October 23, 2012

In This Issue: Renewable Energy Focus - BP off-loads assets as it withdraws from China's solar markets; Solyndra presses for bankruptcy plan OK over US objection; Fracking boom boosts water treatment business;...more

The DC Circuit Court Vacates Cross-State Air Pollution Rule

On August 21, 2012, the D.C. Circuit Court overturned the E.P.A.’s proposed Cross-State Air Pollution Rule. The ruling could impact many distressed power plants, particularly coal-fired plants, by reducing environmental...more

Renewable Energy Update -- June 26, 2012

In This Issue: Renewable Energy Focus - Solyndra close to filing bankruptcy plan; Controversial clean power line is finally live; Iberdrola cutting down its U.S. business; U.S. Barring Efforts to Circumvent Duties on...more

Mark IV Ruling: District Court Affirms Bankruptcy Court’s Denial of Discharge of Environmental Obligations

Last month, District Court Judge Shira A. Scheindlin of the Southern District of New York affirmed a bankruptcy court ruling which held that the environmental cleanup obligations of debtor Mark IV Industries, Inc. were not...more

Solyndra Bankruptcy and Obama Administration

The collapse of Solyndra Corp, a California based solar maker has subjected the Obama Administration to more than just nation-wide criticism and embarrassment. It has cost US taxpayers $535 million in a loan guaranteed by the...more

Solar Equipment Maker Solyndra files for Bankruptcy

Solyndra, the company the White House highlighted in its efforts to push for cleaner energy technology, has filed for Chapter 11 bankruptcy protection. It has laid off more than 1,000 full-time and part-time workers and...more

Contemplating Chapter 11 as a “Fresh Start”? Consider Recent Developments in Environmental Claims Liability

When a company saddled with potential environmental liabilities seeks bankruptcy protection, the goals of Chapter 11—giving the reorganized debtor a “fresh start” and fairly treating similarly situated creditors—can conflict...more

If You Want To Keep It, You Have To Pay For It.

As the economy gets worse, it is making more difficult for people, even people in bankruptcy, to make their house payment or car payment. However, if you want to keep your home or keep your car, you must continue to make...more

Supreme Court To Decide Whether To Review Seventh Circuit Decision Holding That Bankruptcy Does Not Discharge Environmental...

In a decision that may create a significant roadblock for companies saddled with environmental clean-up liability to continue as a going concern, the Seventh Circuit in U.S. v. Apex Oil Company, Inc., 579 F.3d 734 (7th Cir....more

Bankruptcy Unlikely to Save BP

By now, almost everyone realizes that the oil spill by the BP Deepwater Horizon oil rig in the Gulf of Mexico is the worst in history. Already, the British oil company has spent $1.43 billion to stop the flow of oil and clean...more

Boston and Maine Corporation v. Massachusetts Bay Transportation Authority

Environmental Cleanup decision in B&M v. MBTA

B&M owned and operated the MBTA Commuter Rail Maintenance Facility, selling it to the MBTA in 1976. B&M continued to operate the facility under bankruptcy protection until 1983 when B&M was discharged from bankruptcy. The...more

International Legal News Volume 6 Issue 1 - March 27, 2009

In this Issue: *Regulation of Greenhouse Gases: The Management of Uncertainty Beirne, Maynard & Parsons LLP , Houston by James E. Smith & Benjamin A. Escobar *Watching from the Wings with Baited Breath – The WAL-MART...more

23 Results
|
View per page
Page: of 1

Follow Bankruptcy Updates on: