Energy Restructuring And Creditors’ Rights

Law360, New York (January 29, 2007, 12:00 AM EST) -- The United States District Court for the Southern District of New York issued a significant opinion recently, holding that the Enron bankruptcy court should adjudicate disputes concerning termination payments arising out of terminated Enron contracts. The ruling comes in spite of a provision in the Energy Policy Act of 2005 ("EPAct 2005"), which many thought would require a determination of such issues by the Federal Energy Regulatory Commission ("FERC"). This continuing legal wrangling over the appropriate jurisdictional division between FERC and bankruptcy courts is another example...
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