No. 18-957

NextEra Energy, Inc. v. Elliott Associates, L.P., et al.

Lower Court: Third Circuit
Docketed: 2019-01-24
Status: Denied
Type: Paid
Amici (1) Experienced Counsel
Tags: 11-usc-363 11-usc-503 bankruptcy bankruptcy-court bankruptcy-law bankruptcy-sale breakup-fee business-judgment-rule circuit-split debtor section-363 section-503
Key Terms:
Privacy JusticiabilityDoctri
Latest Conference: 2019-04-26
Question Presented (AI Summary)

Whether a debtor's decision to agree to a negotiated breakup fee should be reviewed under the business judgment rule or a heightened standard

Question Presented (OCR Extract)

QUESTION PRESENTED Whether a debtor’s decision to agree to a negotiated breakup fee as part of a sale transaction should be reviewed by the bankruptcy court under the deferential “business judgment rule” of 11 U.S.C. § 363, as the Fifth Circuit has held, or under the heightened standard of 11 U.S.C. § 503, which requires the bankruptcy court to decide on the debtor’s behalf whether the fee is necessary, as the Third Circuit held below. @)

Docket Entries

2019-04-29
Petition DENIED.
2019-04-10
DISTRIBUTED for Conference of 4/26/2019.
2019-04-09
Reply of petitioner NextEra Energy, Inc. filed.
2019-03-27
Brief of respondents Elliott Associates, L.P., et al. in opposition filed.
2019-02-21
Brief amici curiae of National Association of Bankruptcy Trustees filed.
2019-02-12
Motion to extend the time to file a response is granted and the time is extended to and including March 27, 2019, for all respondents.
2019-02-06
Motion to extend the time to file a response from February 25, 2019 to March 27, 2019, submitted to The Clerk.
2019-01-18
Petition for a writ of certiorari filed. (Response due February 25, 2019)

Attorneys

Elliott Associates, L.P., Elliott International, L.P., and the Liverpool Limited Partnership
Douglas Harry Hallward-DriemeierRopes & Gray, LLP, Respondent
Douglas Harry Hallward-DriemeierRopes & Gray, LLP, Respondent
Energy Futures Holdings Corp.
Erin E. MurphyKirkland & Ellis LLP, Respondent
Erin E. MurphyKirkland & Ellis LLP, Respondent
National Association of Bankruptcy Trustees
Jonathan S. MasseyMassey & Gail LLP, Amicus
Jonathan S. MasseyMassey & Gail LLP, Amicus
NextEra Energy, Inc.
Jonathan Saul FranklinNorton Rose Fulbright US LLP, Petitioner
Jonathan Saul FranklinNorton Rose Fulbright US LLP, Petitioner