National Gas Ruling Is a Victory for Swap Participants
Dow Jones–DBR Small Cap
March 25, 2009
The article focused on the 4th U.S. Circuit Court of Appeals' decision In re National Gas Distributors, LLC, (NGD) that held that a "commodity forward agreement" falls under the Bankruptcy Code's definition of a "swap agreement," which is a protected contract under the Bankruptcy Code's "safe harbor" provisions. The article also provided background on NGD's Chapter 11 filing and discussed the decision's impact on future bankruptcy cases.