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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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Landmines In Bankruptcy Appellate Practice, Part III
By Michael L. Cook
When courts have made important exceptions in the past year, they have either added a gloss on the Judicial Code, corrected lawyers’ errors, filled in statutory gaps, or clarified the relevant statutory language.
A Strategic Guide for Lenders to Navigate Anticipated Distressed Loan Fallout
By Jay Steinman and Karina Leiter
The steps outlined in this article offer a strategic guide for lenders, empowering them to navigate the complexities of loan workouts and enforcement actions with resilience and foresight.
Third Circuit: Bankruptcy Code Mandates Appointment of Examiner In Chapter 11 Cases
By Francis J. Lawall and Brenden S. Dahrouge
The Third Circuit recently held in 'In re FTX Trading' that the plain text of Section 1104(c)(2) mandates the appointment of an examiner under the specified conditions set forth. As a result, the FTX decision will carry significant implications for large and medium-sized bankruptcy cases.
By Lawrence J. Kotler and Ryan Spengler
The Central District of California court held that a bankruptcy court’s administration of cannabis-related state court claims against a debtor’s estate is not a violation of the Controlled Substances Act.