Noble Environmental Power, LLC, and several of its affiliates filed for Chapter 11 protection in the Bankruptcy Court for the District of Delaware (Lead Case No. 16-12055). Noble, a renewable energy company that owns and operates wind generation assets in New York and Texas, has its principal place of business in Centerbrook, Connecticut. According to the Debtor’s first day affidavit, downward trends in energy prices have made its debt obligations untenable, leading to the commencement of this case.

The Bankruptcy Deadline Checklist is a quick reference guide for those who handle bankruptcy cases including judges, lawyers, paralegals, credit managers, collection agents, professors, law students, and others.

On March 2, 2016, Sports Authority Holdings, Inc. and six of its affiliates filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (lead case 16-10527).  The cases have been assigned to the Honorable Mary F.

As we have recently highlighted and discussed in depth elsewhere in relation to the UKCS (click here), the confidence of North Sea oil & gas contractors is at an all-time low.

Following the Court of Appeal’s decision in Game it is necessary to consider the effect of the court’s decision on the treatment of rents in administration and by analogy liquidation – and the potential consequences of that change.

What types of insolvency does the decision affect?

The Court of Appeal’s decision explicitly states that it is applicable as to the treatment of rents in both administration and liquidation.

What about existing cases?

Michael John Andrew Jervis v Pillar Denton Limited (Game Station) and others [2013] EWHC 2171 (Ch) (“Game”)

Game has come to the courts against the background of two previous High Court decisions on the treatment of lease rents in administration. Recent decisions on this point have arisen out of cases where landlords made claims for rent in the administration of tenant companies.