News & Analysis as of September 19, 2024

Commercial Bankruptcy

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Stalking Horse Bidder May Be Entitled to Administrative Priority for Expenses Despite Failure to Close Bankruptcy Sale

Jones Day on 9/21/2021

In In re Energy Future Holdings Corp., 990 F.3d 728 (3d Cir. 2021), the U.S. Court of Appeals for the Third Circuit ruled that even though a "stalking horse" bidder failed to obtain necessary regulatory approvals to close an...more

Third Circuit Denies Large Break-up Fee in High-Profile EFH Case

Patterson Belknap Webb & Tyler LLP on 9/24/2018

The Third Circuit denied a $275 million break-up fee to a bidder that was unsuccessful in its attempt to buy the crown-jewel assets in the high-profile EFH bankruptcy case. In re Energy Future Holdings Corp., No 18-1109, 2018...more

Delaware Court Denies $60 Million Administrative Expense Claim in the EFH Case

Patterson Belknap Webb & Tyler LLP on 8/9/2018

The Bankruptcy Court in Delaware recently denied a request for an administrative expense claim to an entity that tried but failed to buy a debtor’s key assets. The decision arises out of the first of three attempts by...more

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Merger Agreements › Administrative Expenses › Commercial Bankruptcy

Stalking Horse Bidder May Be Entitled to Administrative Priority for Expenses Despite Failure to Close Bankruptcy Sale

Third Circuit Denies Large Break-up Fee in High-Profile EFH Case

Delaware Court Denies $60 Million Administrative Expense Claim in the EFH Case

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