The ability to assume or reject executory contracts is one of the primary tools used by debtors in a Chapter 11 reorganization. Where a debtor has a contract with a third party that is “executory”—meaning that ongoing...more
US Bankruptcy Judge Mary F. Walrath of the District of Delaware entered an order on April 21 in In re Nine Point Energy Holdings, Inc., Case No. 21-10570 (MFW) (Bankr. D. Del. Apr. 21, 2021), finding that Caliber Measurement...more
4/26/2021
/ Automatic Stay ,
Bankruptcy Code ,
Bankruptcy Court ,
Binding Contractual Rules ,
Commercial Bankruptcy ,
Contract Terms ,
Creditors ,
Debtors ,
Midstream Contracts ,
Oil & Gas ,
Reservation of Rights ,
Service Agreements
Is a midstream contract treated the same as other executory contracts in bankruptcy, subject to assumption and rejection pursuant to the US Bankruptcy Code? An executory contract is any contract of the debtor where both the...more
2/23/2021
/ Bankruptcy Code ,
Commercial Bankruptcy ,
Covenants that Run With the Land ,
Debt Restructuring ,
Debtors ,
Gathering Agreements ,
Infrastructure ,
Midstream Contracts ,
Mineral Leases ,
Natural Gas ,
Oil & Gas ,
Pipelines
Decision establishes framework for future rulings that covenants in midstream agreements do not run with the land.
On March 8, Judge Shelley C. Chapman of the US Bankruptcy Court for the Southern District of New York...more