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Western Texas Judge: Land Covenants Not Immune from Rejection

Judge Parker of the U.S. Bankruptcy Court for the Western District of Texas recently issued an order in the case of Hilltop SPV, LLC, granting debtor Hilltop SPV LLC’s (“Hilltop”) motion to reject a Gas Gathering Agreement (“GGA”) with counter-party Monarch Midstream, LLC (“Monarch”).[1] This decision allows Hilltop to reject the GGA while allowing Monarch to retain the covenants that run with the land post-rejection.

USA, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Bankruptcy, United States bankruptcy court, US District Court for Southern District of Texas
Fifth Circuit: Make-Whole Premiums Should Be Disallowed as Unmatured Interest

Fifth Circuit finds that make-whole premiums should be considered unmatured interest subject to disallowance under Section 502(b)(2) of the Bankruptcy Code to the extent designed to compensate for future interest payments.

Overview

USA, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, United States bankruptcy court
WARN Act decision: how private equity might avoid “single employer” status

Delaware Bankruptcy Court Holds that Private Equity Firm And Its Portfolio Company Are Not Liable Under Federal WARN Act

USA, Delaware, Employment & Labor, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Worker Adjustment and Retraining Notification Act 1988 (USA), United States bankruptcy court