In the recent decision of AlphaBow Energy Ltd. (Re) (“AlphaBow”),^[1] the Alberta Court of King’s Bench dismissed AlphaBow’s application to stay the Alberta Energy Regulator’s (“AER”) request for a security deposit for the duration of its restructuring proceedings.

Background

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.

Harrington v. Purdue Pharma L.P., 144 S. Ct. 2017 (June 27, 2024)

Insolvency & Restructuring Bulletin

A recent court decision has provided clarity on the application of the Wage Earner Protection Program Act (“WEPPA”) to former employees of companies undergoing restructuring under the Companies’ Creditors Arrangement Act (“CCAA”). The central issue was whether WEPPA applies to employees who were terminated as a result of a reverse vesting order (“RVO”).

Background

Insolvency and Restructuring Bulletin

In the July 2024 edition of the Restructuring Department Bulletin, we highlight recent decisions and developments impacting the restructuring arena and share the latest news on the Paul, Weiss Restructuring Department.

On June 20, 2024, the United States Bankruptcy Court for the Southern District of Texas (the “Court”) issued a memorandum decision and order in the adversary proceeding involving Robertshaw US Holding Corp.

Alice Eaton and Sean Mitchell Discuss Paul, Weiss’s Restructuring

Practice in Vault Q&A

Alice and Sean describe the breadth of Paul, Weiss’s Restructuring

practice and what sets the practice apart in a Q&A in the 2024 edition

of “Practice Perspectives: Vault’s Guide to Legal Practice Areas.”

Elizabeth McColm and Sean Mitchell Publish “USA” Chapter in

ICLG – Restructuring & Insolvency 2024

In the latest ICLG – Restructuring & Insolvency Laws & Regulations,

Elizabeth and Sean discuss common issues in restructurings and

Alice Eaton Featured at Wharton’s PE and Venture Capital Conference

Restructuring partner Alice Eaton spoke on the panel “Adjusting to a New Era: Redefining Value Creation in Uncertain Times,” as part of the Wharton School of the University of Pennsylvania’s 2024 Private Equity and Venture Capital Conference on March 29. The panel covered the use of innovative financing instruments and structures for investments in distressed assets.

Elizabeth McColm Discusses Women in Restructuring at Winter Bankruptcy Conference

On April 22, 2024, in the chapter 11 cases of GOL Linhas Aéreas Inteligentes S.A.