WebFeb 27, 2024 · a forward contract merchant, a person “must enter into forward contracts for the purchase and sale of electricity to generate a profit. Merely entering into … WebThe term “forward contract merchant” means a Federal reserve bank, or an entity the business of which consists in whole or in part of entering into forward contracts as or …

One Step Back? Ohio Bankruptcy Court Finds That a …

WebJan 23, 2004 · u.s. not ‘forward contract merchant’ under bankruptcy code In re Mirant Corp. The Bonneville Power Administration, a federal agency, is not a “forward contract merchant” and thus may not terminate a power-purchase option by reason of the counterparty's Chapter 11 petition for debt relief, a Texas bankruptcy court has ruled. Web“forward contract merchant” must be in the business of entering into forward contracts in order to generate a profit, not merely as a hedge. The court also refused to enforce a contractual provision—common in many power purchase agreements—that each party was a “forward contract merchant.” The court dr waheed russellville ky office

forward contract merchant - Legal Information Institute

WebJul 28, 2016 · Section 556, for example, creates a safe harbor exception to Section 365(e)(1) for certain types of commodity contracts, including “forward contracts” with “forward contract merchants,” and permits a party to enforce a termination right that is based on a “condition of the kind specified in Section 365(e)(1).” Web“Forward Contract Merchant” Entitled to the Bankruptcy Code Safe Harbor Protections In a case of particular significance to parties that enter into forward contracts as means of … Web(1) Except as provided in subsection (d) of this section and in section 507 (c), and subject to the prior rights of a holder of a security interest in such goods or the proceeds thereof, the rights and powers of the trustee under sections 544 (a), 545, 547, and 549 are subject to the right of a seller of goods that has sold goods to the debtor, … comenity shopping