![sample motion for reconsideration in chapter 11 bankruptcy sample motion for reconsideration in chapter 11 bankruptcy](http://uscode.house.gov/images/uscprelim/2255p1.png)
a break-up fee is triggered.” In fact, as the Third Circuit later noted, the termination fee obligation did not turn on whether the PUCT outright rejected the merger or imposed a “burdensome condition.” Rather, it hinged on who terminated the agreement-the debtors or NextEra. But if the PUC imposes the burdensome condition which is a significant hurdle. Counsel for the debtors, however, contradicted that testimony, stating that: “Suffice to say there’s no break-up fee if the PUC just denies-outright denies approval. The debtors’ financial advisor testified that if the debtors entered into another transaction, even following the PUCT’s rejection of the NextEra transaction, the fee would be payable. The scope of the debtors’ termination fee obligation was the subject of confusion at the hearing to approve the merger agreement. Under those circumstances, the default rule applied. It was silent as to whether the fee would be owed if the PUCT rejected the merger and, as a result, the debtors terminated the agreement. Notably, the fee obligation would not be triggered if the agreement was terminated by NextEra and approval of the merger by the Public Utility Commission of Texas (the “PUCT”) was the only outstanding condition to closing. The default rule was that the fee would be triggered if NextEra did not acquire Oncor and the debtors either sold Oncor to someone else or otherwise emerged from bankruptcy however, it was subject to certain exceptions. The merger agreement included a provision which obligated the debtors to pay NextEra a $275 million termination fee under certain circumstances. On July 29, 2016, the debtors entered into a merger agreement with NextEra Energy, Inc. LLC, an electricity transmission and distribution system. and Energy Future Intermediate Holding Company LLC began marketing their economic interest in the rate-regulated business of Oncor Electric Delivery Co. Shortly after filing chapter 11 cases, Energy Future Holdings Corp. The Third Circuit noted that the case was “anomalous” and that reconsideration was warranted only because the Bankruptcy Court failed to discern a critical fact that profoundly altered its initial decision to approve the termination fee. The United States Court of Appeals for the Third Circuit recently issued a 2–1 decision affirming the ruling of the Bankruptcy Court for the District of Delaware, which reconsidered its prior approval of a $275 million termination fee in connection with a proposed merger.
![sample motion for reconsideration in chapter 11 bankruptcy sample motion for reconsideration in chapter 11 bankruptcy](https://img.yumpu.com/6391069/1/500x640/novell-incs-motion-for-relief-from-automatic-.jpg)
Family Office & High-Net-Worth Individuals.Notice of Transfer of Claim Other Than for Security Notice of Appeal and Statement of Election Motion for Approval of Reaffirmation Agreement Monthly Operating Report for Small Business Under Chapter 11 List of Creditors who Have the 20 Largest Unsecured Claims Against You and are Not Insiders Involuntary Petition Against an Individual Involuntary Petition Against a Non-Individual Initial Statement About an Eviction Judgement Against You
SAMPLE MOTION FOR RECONSIDERATION IN CHAPTER 11 BANKRUPTCY REGISTRATION
Appearance of Child Support Creditor or RepresentativeĪpplication to Have the Chapter 7 Filing Fee Waived (if applicable)Īttachment to Voluntary Petition for Non-Individuals Filing for Bankruptcy Under Chapter 11 (if applicable)īankruptcy Petition Preparer's Notice, Declaration, and Signature (if applicable)Ĭaption for Use in Adversary Proceeding other than for a Complaint Filed by a DebtorĬertificate of Compliance with Rule 8015(a)(7)(B) or 8016(d)(2)Ĭertification About a Financial Management CourseĬertification of Judgment for Registration in Another DistrictĬhapter 11 Statement of Current Monthly IncomeĬhapter 13 Calculation of Your Disposable Income (May be Required)Ĭhapter 7 Means Test Calculation (May be Required)Ĭhapter 7 Statement of Your Current Monthly Incomeĭeclaration Concerning Debtor’s Schedulesĭeclaration Under Penalty of Perjury for Non-Individual Debtorsĭisclosure of Compensation of Attorney for Debtor (May be Required)ĭisclosure of Compensation of Bankruptcy Petion Preparer (May be Required)ĭisclosure Statement for Small Business Under Chapter 11