By McCord Pagan (July 20, 2022, 6:44 p.m. EDT) — In a decision released Tuesday, the Fifth Circuit dismissed a series of orders from the Federal Energy Regulatory Commission that sought to compel a natural gas company to continue to perform a contract that it had rejected in bankruptcy proceedings.
A unanimous panel of three court judges sided with Gulfport Energy Corp. and against FERC, saying the agency was wrong to order Gulfport to pursue the deal with intervener Rover Pipeline LLC because bankruptcy laws allow companies to reject contracts, even if the agency considers doing so is contrary to the public interest.
“Because FERC cannot void a debtor’s bankruptcy rights or bankruptcy…
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