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Jurisdictional boundaries within the federal system as between bankruptcy and district courts as well as various federal agencies can be a maze that is at times nearly impossible to navigate. Further complicating matters are those cases involving state-regulated issues that add abstention to the mix.
Jurisdictional boundaries within the federal system as between bankruptcy and district courts as well as various federal agencies can be a maze that is at times nearly impossible to navigate. Further complicating matters are those cases involving state-regulated issues that add abstention to the mix. On Jan. 5, the U.S. Court of Appeals for the Fifth Circuit provided some additional color to the abstention issue by ruling that the U.S. Bankruptcy Court for the Southern District of Texas lacked jurisdiction to decide an exclusively state-governed question related to emergency energy price controls. See, Electric Reliability Council of Texas v. Just Energy Texas (In re Just Energy Group), 2023 U.S. App. LEXIS 253, __ F.4th __, 2023 WL 111207. The Just Energy decision, arose from events that took place from Feb. 13, 2021, to Feb. 20, 2021, caused by storm Uri, which severely impacted Texas’ power grid. During the storm, state regulators imposed artificial price caps on the sale of wholesale electricity that upset the entire Texas energy market and forced Just Energy and many others into bankruptcy.
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Can a Debtor That Has No Ongoing Business Operations Reorganize Under Chapter 11 In Good Faith?
By Lawrence J. Kotler and Roxanne J. Indelicato
In a recent decision, the U.S. Bankruptcy Court for the Southern District of Texas (the court) addressed whether a debtor that has no independent assets or ongoing business operations can reorganize under Chapter 11 in good faith.
J&J Gets Stay In Talc Chapter 11 Dismissal
By Amanda Bronstad
Johnson & Johnson’s talc bankruptcy may be on its last legs, but it’s still standing — at least for a while. On February 13, Johnson & Johnson subsidiary LTL Management petitioned the U.S. Court of Appeals for the Third Circuit to rehear its Jan. 30 decision dismissing its Chapter 11 case
Rights of Tenant to Security Deposit When Landlord Files for Bankruptcy
By Andrew C. Kassner and Joseph N. Argentina Jr.
As we debate whether there will be a “soft” or “hard” landing of the economy and the resulting effect of different landings on the volume of bankruptcy filings, it is helpful to review how a bankruptcy filing affects not only rights between a creditor and the debtor, but also the respective rights of creditors against property held by the debtor.
Bankruptcy Veterans See Surge In Corporate Filings
By Everett Catts
Corporate bankruptcies have been a hot topic lately, with several businesses or their parent companies declaring bankruptcy, announcing they plan to do so or saying they may to do so soon. Two veteran bankruptcy attorneys in Georgia give their take on this and other bankruptcy topics.
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