FERC urges the 5th Circ. To let the bankruptcy contract order stand

By Katie Buehler (June 9, 2022, 7:14 p.m. EDT) — The Federal Energy Regulatory Commission told the Fifth Circuit Thursday that while the court recently ruled the agency has a limited role in Chapter 11 reorganizations, the panel should let stand a FERC order that terminating a pipeline contract is not in the public interest.

FERC and Gulfport Energy Inc. agree that their dispute was raised by a March 14 panel decision in FERC v. Ultra Resources Inc. that FERC approval is not required for companies to reject contracts during Chapter 11 proceedings. But during oral argument, they split on whether the court should rescind the FERC orders on Gulfport…

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