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In re: Fisker Automotive Holdings, Inc.: caveat emptor for distressed debt purchasers – your credit bid rights may be impaired!

Bankruptcy Court Decision

USA, Insolvency & Restructuring, Litigation, McGuireWoods LLP, Bankruptcy, Debtor, Secured creditor, Distressed securities, United States bankruptcy court
Delaware Bankruptcy Court cuts off electricity providers’ access to Section 503(b)(9) of the Bankruptcy Code

 

The Bankruptcy Court for the District of Delaware recently ruled in In re NE OPCO, INC., 2013 Bankr. LEXIS 4569 (Bankr. D. Del. Nov. 1, 2013), that electricity is not a “good” for purposes of 11 U.S.C. § 503(b)(9).

USA, Delaware, Energy & Natural Resources, Insolvency & Restructuring, Litigation, McGuireWoods LLP, Debtor, Electricity, United States bankruptcy court