In orders issued on January 25 and 28, 2019, FERC concluded that the Commission and the bankruptcy courts have concurrent jurisdiction to review and address the disposition of FERC-jurisdictional contracts sought to be rejected through bankruptcy and, therefore, a party to a FERC-jurisdictional wholesale power agreement must first obtain approval from both FERC and the bankruptcy court to modify the filed rate and reject the filed wholesale power contract, respectively. FERC made its determination in response to two separate petitions (“Petitions”) filed by NextEra Energy, Inc.

Aralez Pharmaceuticals Inc. ("AP Inc.") and Aralez Pharmaceuticals Canada Inc. ("APC Inc.") (collectively, the "Applicants") brought an application to the Ontario Superior Court under the CCAA concurrently with a United States Chapter 11 proceeding brought by affiliated entities. the Applicants. desired a managed liquidation process.

The Applicants entered into three stalking horse agreements for approximately $240 million. This compared to the secured claim of $275 million of the major secured creditors of the Applicants.

Pursuant to 11 U.S.C. § 1322(b)(2), a Chapter 13 bankruptcy plan cannot modify the rights of a secured creditor whose claim is only secured by an “interest in real property that is the debtor’s principal residence.” On December 6, the Eleventh Circuit held that this provision prevents the discharge of a mortgage in a Chapter 13 bankruptcy, regardless of whether the plan “provided for” the mortgage or whether the mortgagee filed a proof of claim.

On November 8, 2018, in a decision delivered unanimously from the bench, the Supreme Court of Canada confirmed that the Crown’s superpriority over unremitted Goods and Services Tax/Harmonized Sales Tax (GST/HST) is ineffective against a secured creditor who received, prior to a tax debtor’s bankruptcy, proceeds from that taxpayer’s assets.1

The West Virginia Consumer Credit and Protection Act (“WVCCPA”) is a remedial statute designed to protect West Virginia consumers from improper debt collection. Only “consumers” have standing to file a lawsuit under the WVCCPA. The term “consumer” is defined as a natural person that owes a debt or allegedly owes a debt. But does a person still owe debt if that debt was discharged by a bankruptcy court? Although there is some conflicting case law in West Virginia, an answer is forming.

On October 26, the Eastern District of Wisconsin issued a ruling dismissing a Fair Credit Reporting Act case. In Garland v. Marine Credit Union, the Court granted summary judgment in favor of the debt collector, holding the dispute was a legal issue such that the consumer could not establish a factual inaccuracy in the credit reporting.

One of the most delicate balancing acts that the Courts are asked to perform in Canada is balancing all of the disparate and competing interests in an insolvency process. The Ontario Court of Appeal was asked to review one iteration of this balancing act in Reciprocal Opportunities Incorporated v.

The Northern District of Illinois recently held that a collection letter sent to a consumer’s attorney seeking payment on a debt discharged in bankruptcy did not violate the Fair Debt Collection Practices Act based on the “competent lawyer” standard. The case is Grajny v. Credit Control, LLC, No. 18-C-2719, 2018 U.S. Dist. LEXIS 173682, 2018 WL 4905019 (N.D. Ill. Oct. 9, 2018).

On August 20, the U.S. Bankruptcy Court for the Central District of Illinois in In re I80 Equipment, LLC, No.17-81749, 2018 WL 4006294 (Bankr. C.D. Ill. Aug. 20, 2018) held that a secured party failed to perfect its security interest due to an insufficient description of the collateral listed in its UCC-1 financing statement. The financing statement failed to sufficiently describe the collateral because it referenced the definition of “collateral” in the underlying security agreement without attaching the security agreement to the financing statement.

HERE LIONS ROAM: CISG AS THE MEASURE OF A CLAIM'S

VALUE AND VALIDITY AND A DEBTOR'S

DISCHARGEABILITY

Amir Shachmurove*

INTRODUCTION ............................................ ..... 463

I. A COMEDY OF ERRORS .............. 468

II. RELEVANT BANKRUPTCY LAW: THE CODE AND THE RULES ............ 470

A. Code and Rules .......................... ......... 470

B. Determination of a Claim 's Validity and Value .............. 471

C. Temporary Valuation Pursuant to Rule 3018(a) .... ........ 475