Recap: The 5th Circ.'s MXEnergy Ruling

Law360, New York (August 27, 2012, 12:41 PM EDT) -- The U.S. Fifth Circuit Court of Appeals recently ruled on whether section 546(e) of the Bankruptcy Code exempts payments for electricity provided under a requirements contract from avoidance as preferences. At least where the facts match those of the subject case, MBS Management Services Inc. v. MXEnergy Electric Inc. (5th Cir. Aug. 2, 2012), such payments are exempt.

MBS Management Services Inc. entered into a contract with Vantage Power Services LP to purchase from Vantage the full electric requirements of specified apartment complexes for 24 months...
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