Hughes Hubbard CRG members Katie Coleman and Anson Frelinghuysen examine the Sabine decision and its impact on pending and future bankruptcy cases and on the lending environment for midstream operators.
The issue of rejectability of an executory contract raised in Sabine is far from settled, and it may not be anytime soon, given the pending appeal in Sabine and the potential for review by various state courts as well. Coleman and Frelinghuysen discuss practical considerations and provide guidelines for industry stakeholders during this period of uncertainty.
This article can be found in the New York Law Journal's Corporate Restructuring and Bankruptcy special report. Please click here to view the post.