Executory Contracts/Leases

Second Circuit Holds that Flip Clauses in Swaps Are Enforceable

Even if flip clauses are ipso facto clauses, the Second Circuit holds that enforcement is permitted by the safe harbor in Section 560.
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Two Circuits Agree: Coal Act Doesn’t Bar Terminating Retiree Benefits via Section 1114

Fifth Circuit declines to create a circuit split on the ability of a coal producer to sell assets and protect the buyer from liability for retiree health benefits under the Coal Act.
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