National Gas Ruling Is a Victory for Swap Participants

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.