News & Analysis as of

Contract Interpretation Commercial Bankruptcy

Pillsbury Winthrop Shaw Pittman LLP

Bankruptcy Court Holds That SAFE Investors May Have Creditor Claims in Chapter 11

In In re Rhodium Encore LLC, the U.S. Bankruptcy Court for the Southern District of Texas ruled that holders of SAFEs should be treated as creditors because they possess creditor claims, not merely equity interests. The...more

Knobbe Martens

Sublicense May Survive Termination of a Main License

Knobbe Martens on

FRAUNHOFER-GESELLSCHAFT v. SIRIUS XM RADIO INC. Before Dyk, Linn, and Taranto.  Appeal from the District of Delaware. Summary:  Contract interpretation must be applied in determining whether a sublicense survives...more

A&O Shearman

EFIH Noteholders Find Redemption for the Payment of Make-Whole Premiums

A&O Shearman on

On November 17, 2016, the United States Court of Appeals for the Third Circuit issued a decision in which it held that holders of first lien notes and second lien notes of Energy Future Intermediate Holding Company LLC and...more

McDermott Will & Emery

Bankruptcy Courts Fail to Enlighten on Electricity as Goods or Services

McDermott Will & Emery on

Is electricity goods or services? That seemingly simple yet confounding question is illustrated by three recent bankruptcy cases (all of which consider whether an electricity provider is entitled to an administrative expense...more

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