Law360 (August 28, 2019, 2:42 PM EDT) -- The recent Chapter 11 filings by PG&E Corp., its Pacific Gas & Electric Co. utility subsidiary and FirstEnergy Solutions Corp. have reignited the debate over the power of a U.S. bankruptcy court to authorize the rejection of contracts regulated by the Federal Energy Regulatory Commission. Only a handful of courts have addressed this thorny issue to date, and with conflicting results, in a controversy that may ultimately need to be resolved by the U.S. Supreme Court or legislative action.
The crux of the problem lies in conflicting jurisdiction conferred, on the one hand, upon bankruptcy courts by the Bankruptcy Code and...
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