Josh Cohen, co-chair of Day Pitney's Bankruptcy and Restructuring practice, was quoted in a Law360 article, "Oil & Gas Bankruptcies May Hit Snags Amid FERC Turf War." The article discusses the growing oil and gas bankruptcy wave set off by the market decline during the Covid-19 pandemic and the onslaught of more jurisdictional fighting between the bankruptcy courts and the Federal Energy Regulatory Commission (FERC). As oil and gas bankruptcies continue to increase, experts believe that jurisdictional battles will mostly likely multiply if bankrupt companies look to reject midstream contracts that are subject to FERC Federal Energy Regulatory Commission (FERC) oversight.
FERC recently expanded its conflict with bankruptcy courts after it found their findings showed that Chesapeake Energy Corp. is required to get FERC approval the blessing of their company before it can remove reject pipeline contracts in Chapter 11. A similar occurrence happened with PG&E that Chesapeake is mimicking. They are asking a bankruptcy court to nullify FERC's order and block the agency from taking action. This move made by FERC comes just months after the Sixth Circuit ruling, stating that bankruptcy courts will have the final ruling over whether power purchase agreements can be rejected.
You can read the rest of article here (subscription).
On July 7, Michael Kaufman will participate as faculty on Strafford's 90-minute Q&A style webinar, "Contribution Agreements: Joint Liability and Rights of Contribution Under Loan Guaranties."
Day Pitney Alert
On January 9, partner Michael Kaufman co-presented a live CLE webinar, "Intercorporate Guaranties and Integrated Transactions: Avoiding Fraudulent Conveyance Exposure in Bankruptcy," sponsored by Strafford.
On May 5, Josh Cohen moderated a panel at the 11th annual Credit & Bankruptcy Symposium, hosted by ABI, Turnaround Management Association Connecticut and Northeast chapters and the New York Institute of Credit.
Steven Cash co-authored an article, "Evolution of a Valuable Tool for Attorneys: Business Intelligence Practitioners," for the New York Law Journal.
Day Pitney Press Release
Joshua Cohen was quoted in the American Bar Association Journal, the online publication for the American Bar Association.
The Hartford Business Journal featured Laurie Mallach in its article, "Chief Talent Officers Arm Law Firms for Battle Over Top-Performing Lawyers," which discusses the CTO position responsibilities, challenges and evolving scope.
Day Pitney Announcement
Michael Furey authored the article, "Joint Representations: A Blessing or a Curse?" for the New Jersey Law Journal.