Swaps, together with repurchase agreements, forward contracts, securities contracts and commodities contracts receive special treatment under the bankruptcy code-they are largely exempt from the automatic stay, bankruptcy...more
In the In re FirstEnergy Solutions Corporation bankruptcy cases, the court recently issued an opinion narrowing the number of situations in which a fixed-price supply agreement (used to hedge against rising input costs and...more
On January 15th, 2019, the U.S. Bankruptcy Court for the Northern District of Ohio held that the end user of an electricity forward contact was not entitled to the benefits of the safe harbor provisions under Section 556 of...more
As discussed in a recent Dechert OnPoint, section 365(e)(1) of the U.S. Bankruptcy Code provides that an executory contract of a debtor may not be terminated solely because of a provision in such contract that is conditioned...more
I will share a small secret – or perhaps, it is not a secret at all. As CLE presentations go, “drafting tip” presentations tend to be very practical in their orientation and are, therefore, more enjoyable and less stressful...more
A Chapter 11 bankruptcy filing of an oil and gas company will likely have broad implications for a wide range of parties. Certain pervasive agreements in today’s oil and gas industry generate substantial, high-dollar...more