Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

The Bankruptcy StrategistKickerFeaturesSectionsNewsLJN Newsletters

The Calpine Case

By ALM Staff | Law Journal Newsletters |
April 27, 2006

When is an executory contract not just an executory contract? When it's also a regulation, of course. So ruled Judge Richard Casey of the District Court for the Southern District of New York in In re Calpine, 337 B.R. 27 (S.D.N.Y. Jan. 27, 2006), dismissing Calpine's request for authority to reject under 11 U.S.C.
' 365 certain regulated wholesale power supply contracts that fall within the exclusive jurisdiction of a federal administrative agency. Casey's decision and the subsequent appeal to the Second Circuit Court of Appeals, where the case is currently pending, culminate a 3-month legal sprint through the executive and judicial branches of government in a case that pits the authority of the judiciary against the jurisdiction of the Federal Energy Regulatory Commission (FERC) ' the administrative agency tasked with regulating the wholesale sale and transmission of electric power.

The Case

This premium content is locked for LJN Newsletters subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
The DOJ's Corporate Enforcement Policy: One Year Later Image

The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.

The DOJ's New Parameters for Evaluating Corporate Compliance Programs Image

The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.

Use of Deferred Prosecution Agreements In White Collar Investigations Image

This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.

Bankruptcy Sales: Finding a Diamond In the Rough Image

There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.

A Lawyer's System for Active Reading Image

Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.