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The Intersection Of The Bankruptcy Courts And Ferc, Amanda Gazzo
The Intersection Of The Bankruptcy Courts And Ferc, Amanda Gazzo
Bankruptcy Research Library
(Excerpt)
In the past, the bankruptcy courts and the Federal Energy Regulatory Commission (“FERC”) have been involved in a power struggle with one another. Congress has granted bankruptcy courts exclusive authority to allow debtors to reject executory contracts in chapter 11 reorganization cases. Additionally, Congress has granted FERC authority to govern over utility entities’ filed-rates, which are sometimes contained in executory contracts. It is in this intersection, regarding executory contracts containing filed-rates, where the power struggle between the two exists.
An executory contract is a contract where both parties still have material obligations to perform under the contract. Filed-rates may …