3rd Circ. Sends NextEra's $60M Claim Request Back To Del.
Law360 (March 16, 2021, 7:26 PM EDT) -- The Third Circuit sent a dispute over a $60 million Chapter 11 expense claim sought by NextEra Energy Inc. back to Delaware bankruptcy court, saying its scuttled attempt to purchase the assets of bankrupt Energy Future Holdings Corp. nevertheless provided benefits to the estate worthy of compensation.
A three-judge appellate panel on Monday said NextEra had plausibly contended that its pursuit of a $9.8 billion acquisition of Energy Future subsidiary Oncor Electric Delivery Co. LLC, though ultimately unsuccessful, provided some benefit to the bankruptcy estate of the debtor by making it easier for the company to close an alternative sale with...
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