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

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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 midstream gathering agreement as an “executory contract.” The Court’s decision, which is only the second decision nationally to address the rejection issue, firmly establishes a debtor’s right to reject a midstream gathering agreement under certain circumstances.

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