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§ 101(53B)(A)(1)

Hutson v. E.I. du Pont de Nemours & Co. (In re National Gas Distribs. LLC)

Feb
11
2009
Ruling
Bankruptcy court erred in holding that "commodity forward agreements" must be traded in a financial market and not involve physical delivery of the commodity.
Procedural posture

Plaintiff trustee commenced adversary proceedings by filing complaints to avoid numerous natural gas supply contracts entered into during the year before a bankruptcy petition was filed. Defendant customers moved to dismiss the complaints or alternatively for summary judgment. The Bankruptcy Court for the Eastern District of North Carolina denied the motions. The customers were granted permission to file an interlocutory appeal.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on February 11, 2009 , LexisNexis #0309-071
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