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Simple Steps to Protect Your Utility If Your Power Supplier is Headed for Bankruptcy

April 23, 2010

In the November Bulletin, author Chad Stokes explored the topic of a utility’s legal rights under the United States Bankruptcy Code in the event that a retail utility customer files for bankruptcy protection. Stokes explained how Section 362 of the Bankruptcy Code creates am “automatic stay” that protects the debtor’s assets from certain debt collection efforts. He also described the utilities rights under Section 366, which includes the right to request adequate assurance that the customer will continue to pay for utility service following a bankruptcy. (For further information on this topic, please read “Your utility customer goes bankrupt — now what?” in the November issue of the Bulletin, pp 15-16.)..... Read More

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