EFH Extends New York Make-Whole Rationale To Delaware
Law360, New York (April 1, 2015, 3:27 PM EDT) -- Judge Christopher Sontchi issued a notable opinion last week in the bankruptcy case of Energy Future Holdings Corp. et al., Case No. 14-10979 (D. Del.), ruling that the repayment in full of certain senior secured notes did not trigger an obligation by the debtors to pay a make-whole premium. One important aspect of this decision is that Judge Sontchi closely followed the reasoning of Judge Robert Drain last year in a similar decision involving a make-whole premium in MPM Silicones LLC et al. ("Momentive"), Case No. 14-22503 (S.D.N.Y.), thus extending the rationale of that decision, as well as earlier Southern District of New York cases such as In re Solutia Inc. and In re Calpine Corp., into Delaware for the first time....
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