By Katie Buehler (June 9, 2022, 7:14 p.m. EDT) — The Federal Energy Regulatory Commission told the Fifth Circuit Thursday that, although the court recently ruled the agency had a limited role in reorganizations of the Chapter 11, the panel should let stand a FERC order that terminating a pipeline contract is not in the public interest.
FERC and Gulfport Energy Inc. agree that their dispute was raised by a March 14 panel decision in FERC v. Ultra Resources Inc. that FERC approval is not required for companies to reject contracts during Chapter 11 proceedings. But during oral argument, they split on whether the court should rescind the FERC orders on Gulfport…
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