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Ultra Court Confirms Make-Whole Amount and Post-Petition Interest for OpCo Noteholders

The court awarded OpCo Noteholders in excess of $320 million in Make-Whole Amount and post-petition interest, confirming that make-whole is an enforceable liquidated damage claim.

USA, Texas, Insolvency & Restructuring, Litigation, Morgan, Lewis & Bockius LLP, US District Court for Southern District of Texas
Fees, Fees, Fees: SDNY Bankruptcy Court Questions the Ongoing Validity of the “Blackstone Protocol” for Investment Banker Fees in Chapter 11 Cases

Background: Professionals’ Fees in Chapter 11 cases

USA, Banking, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Title 11 of the US Code, United States bankruptcy court, US District Court for the Southern District of New York
Decision Permits Rejection of Midstream Agreements in Bankruptcy

Decision establishes framework for future rulings that covenants in midstream agreements do not run with the land.

USA, New York, Insolvency & Restructuring, Litigation, Morgan, Lewis & Bockius LLP, Natural gas, Covenant (law)