Second Circuit Upholds Denial of Arbitration in the Bankruptcy Context
Second Circuit holds a dress rehearsal for a major arbitration decision.
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Bankruptcy Code
Arbitration Ordered Although Creditor Filed a Proof of Claim
District court orders arbitration to avoid constitutional infirmities in bankruptcy court’s power to determine a claim against a creditor.
Judge Name - Do not use it.
D.P. Marshall, Jr.
Bankruptcy Code
PUC Again Rejects NextEra’s Request for Rehearing on Oncor Bid
NextEra Energy failed to persuade skeptical utility regulators in Texas to take another look at its stalled $18.4 billion bid for Oncor Electric Delivery, Bloomberg News reported. The Public Utility Commission of Texas yesterday refused NextEra’s second request for a rehearing on a deal which it originally rejected in April. The sale of the biggest transmission operator in the state is key to rescuing Oncor’s parent Energy Future Holdings Corp. from bankruptcy. Both Oncor and NextEra declined to comment. “It is time to bring this chapter in the EFH bankruptcy to a close and consider other options more suitable to Oncor and its ratepayers,” Commissioner Kenneth Anderson Jr. wrote in a memorandum before yesterday’s meeting.
