On February 25, 2020, Debtwire Radio: Absolute Priority featured Sidley Restructuring lawyers Charles Persons (Dallas) and Michael Fishel (Houston). The topic of the day covered recent developments concerning E&P debtors and their ability to reject burdensome gas gathering agreements as part of their Chapter 11 restructurings. Rejection of midstream gas gathering agreements has been a hot topic in the E&P restructuring world for the past five years. Given the frequency with which this issue arises, the implications that such disputes have on reorganization and asset sale efforts, and conflicting case law in Alta Mesa and Sabine, Charles and Michael walk listeners through the lay of the land and highlight key considerations that parties need to be aware of.
Click here to listen to the podcast.