Environmental Bankruptcy

Read need-to-know updates, commentary, and analysis on Environmental issues written by leading professionals.
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ICYMI: Energy & Environmental News Roundup

Oil & Gas - Murray Energy Closes $63.6 Million Asset Sale of Utica Oil and Gas Reserves - On Wednesday, October 26, 2016 Murray Energy Corporation announced that it had entered into an agreement to sell around 5,900...more

Reed Smith Prepares Enforceability Opinion for IECA New Master Netting Agreement

On October 7, 2016, Reed Smith assisted the International Energy Credit Association (“IECA”) in preparing an enforceability opinion for the release its Master Netting Agreement (the “MNA”) under both English and U.S. law....more

SunEdison: A Cautionary Tale?

U.S. Bankruptcy Judge Stuart Bernstein recently approved SunEdison’s proposed sale of $144 million of solar and wind assets to NRG Energy. The sale continues SunEd’s string of dispositions this year following its April...more

Energy Newsletter - September 2016

Implementing Islamic Financing for Renewable Energy Projects - The Middle East and North Africa (MENA) region has recently seen a surge of interest in developing renewable energy, in particular solar energy projects. Led...more

Is Renewable Energy in Puerto Rico Back On Your Radar?

Renewable energy deal discussions centered on projects in Puerto Rico have been difficult – particularly for project owners – over the past few years. The foundations of most of the projects on the island were power purchase...more

Renewable Energy Update - August 2016 #2

Renewable Energy Focus - California's regional electricity grid plan on hold - Los Angeles Times - Aug 8 - Governor Jerry Brown’s plan for a regional electricity grid is being put on hold this year, and...more

Environmental Liabilities in Oil & Gas Sales Under Bankruptcy Code Section 363

Since the beginning of 2015, at least 77 companies in the oil and gas industry have sought bankruptcy relief in the United States. The flow of oil and gas company bankruptcies shows no sign of slowing down and, based on the...more

Renewable Energy Update - May 2015 #2

Renewable Energy Focus - Forecast sees largest growth for renewable energy sources - The Hill - May 11 - Federal energy analysts are forecasting that renewable energy will see the largest growth in...more

Renewable Energy Update - April 2016 #5

Renewable Energy Focus - California utility-scale solar beat wind for first time in 2015 - Solar Industry Magazine - Apr 28 - In 2015, energy from grid-connected, utility-scale solar plants surpassed that from...more

Is Coal Down For The Count

Last week Peabody Energy announced that it filed bankruptcy. Peabody is the nation’s largest coal company. The filing by Peabody comes on the heels of the January 2016 bankruptcy filing by Arch Coal, the nation’s second...more

Oil, Gas and Mineral Companies Take Note: Agreements Purporting to “Run with the Land” may be Rejected in Bankruptcy

A recent bankruptcy court decision from the influential Southern District of New York permitted a debtor to reject executory contracts with midstream gathers as an exercise of sound business judgment. In In re Sabine Oil &...more

The Best Protection: Safeguards in Purchasing Distressed Oil and Gas Assets

In the current environment of depressed prices for oil, natural gas and related liquids, oil and gas wells, leases and properties are coming on to the market for sale. These assets typically are made available through either...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Double Whammy in Maine’s Paper Industry - This past week, two northern Maine paper mills...more

Insurance Recovery Law - August 2015 #2

Good News for Corporate Policyholders: Insurer Cannot Refuse Coverage Based on Insured's Assignment of Rights Under Policies After Loss Has Occurred - Why it matters: Reversing its holding in a 2003 case, the Supreme...more

CERCLA Statute of Limitations Applies To Contribution Claims By A Party to a Private Settlement

Sometimes cases seem to be deciding issues that are so obvious it’s hard to figure out why they get any serious attention from the courts. One such case is ASARCO, LLC v. Celanese Chemical Company recently decided by the...more

Williams Mullen Construction Industry Newsletter - Winter/Spring 2015

In this Issue: - Welcome - Williams Mullen Announces Coastal Flooding Practice - Federal Government Contracts - New Challenges - Green Certification - Bankruptcy and Virginia...more

USA Synthetic Fuel Corporation Files Bankruptcy; Will Pursue A Sale

On March 17, 2015, following the lead of Quicksilver Resources Inc., USA Synthetic Fuel Corporation filed its own voluntary chapter 11 case in Delaware. The case is docketed as case no. 15-10599, and has been assigned to...more

Environmental Liability: Relief Through Bankruptcy Or Not?

In re Appalachian Fuel, LLC, 521 B.R. 779 (Bankr. E.D. Ky. 2014) – A state department of environmental protection (DEP) filed an administrative expense application in the bankruptcy cases of coal mining debtors for...more

DRM client wins important case precluding termination of insurer insolvency before contingent or unliquidated claims can be...

The Vermont Supreme Court has ruled in In Re Ambassador Ins. Co., 2015 VT 4 (Vt. Jan. 23, 2015) that the liquidator of Ambassador Insurance acted unreasonably in setting a December 31, 2013 bar date for policyholder claims...more

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

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