Monthly Archives: July 2013

Court Approves Extension of the Automatic Stay in Detroit’s Chapter 9 Case to State Officials

On July 24, 2013, Judge Steven W. Rhodes of the Bankruptcy Court for the Eastern District of Michigan approved the City of Detroit’s motion to extend the automatic stay to various non-debtor parties, including certain state officials. The Court’s ruling … Continue reading

Posted in Distressed Energy, Finance

City of Detroit Files Chapter 9 Bankruptcy Petition – Challenges Ahead

On the afternoon of July 18, 2013, the City of Detroit filed its highly anticipated petition for relief under Chapter 9 of the Bankruptcy Code in the Bankruptcy Court for the Eastern District of Michigan. This marks the largest municipal … Continue reading

Posted in Distressed Energy, Finance

FERC Denies Rehearing in DC Energy – Clarifies Position on Reportable IBTs and Side Steps Jurisdictional Issue

By Gregory Lawrence and Ryan Norfolk By order issued July 12, 2013, the Federal Energy Regulatory Commission (“FERC” or the “Commission”) denied requests for rehearing of its March 9, 2012 order denying the complaint of DC Energy, LLC (“DCE”) and … Continue reading

Posted in Commodity Trading, Enforcement and Investigations, FERC, Power, Regulation

Final Rule Correction – Procedures To Establish Appropriate Minimum Block Sizes for Large Notional Off-Facility Swaps and Block Trades

The Commodity Futures Trading Commission is correcting a final rule that appeared in the Federal Register of May 31, 2013 (78 FR 32866).  The final rule adopted regulations,  under the Dodd-Frank Wall Street Reform and Consumer Protection Act, defining the … Continue reading

Posted in CFTC, Commodity Trading, Dodd-Frank, Oil & Gas, Power, Regulation

SEC Announces Second Set of Whistleblower Awards

From Cadwalader’s SEC Enforcement Advisor Alert On June 12, 2013, the Securities and Exchange Commission (SEC) announced that three claimants would receive awards under the whistle – blower bounty program created as part of the Dodd-Frank Wall Street Reform and … Continue reading

Posted in Commodity Trading, Dodd-Frank, Enforcement and Investigations, Oil & Gas, Power, Regulation, SEC