We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

3rd Circ. Leaves EFH Off Hook For $275M Breakup Fee

Law360 (September 13, 2018, 8:49 PM EDT) -- A divided Third Circuit panel on Thursday upheld a decision relieving the bankrupt Energy Future Holdings Inc. from paying a $275 million termination fee after a deal to sell its interest in a power distribution system to NextEra Inc. failed to win approval from Texas utility regulators.

The appeals court rejected arguments from NextEra that one of EFH’s creditors had waited too long to challenge a September 2016 order approving the company’s $18.7 billion deal to sell its stake in Oncor Electric Delivery Co. LLC, which included a provision requiring payment of a $275 million fee in the event the agreement...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

map

Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Appellate - 3rd Circuit

Nature of Suit

3422 Bankruptcy Appeals Rule 28 USC 158

Date Filed

January 19, 2018

Law Firms

Companies

Government Agencies