![Banking-Finance-Security_AdobeStock_404767884](https://www.nortonrosefulbright.com/-/media/images/nrf/hero/banking-finance-security_adobestock_404767884.jpg?w=265&revision=4c57a9f5-c60b-45fe-a959-a8c6bed49280&revision=5250254615747387904&hash=197AE8935F2C89D54A5E0696801B4F46)
Publication
ASIC approves ABA’s revised Banking Code: What you need to know
The Australian Securities and Investments Commission (ASIC) approved the Australian Banking Association’s (ABA) updated Banking Code of Practice (2025 Code)
Publication | June 13, 2016
The prolonged downturn of oil prices has begun to take its toll. Over 27 oil and gas bankruptcy cases have filed in 2016, and over 69 since 2015,1 as companies seek to access powerful protections under the U.S. Bankruptcy Code (the Code).
One such protection at the forefront of the trend is the ability to escape certain burdensome contracts. Rejecting these contracts under §365 of the Code can create substantial bargaining power for a going concern enterprise or increase the value of assets sold through a bankruptcy.
This article analyzes a hiccup in this strategy presented in three recent cases—one that promises to recur. The outcome in these cases will signal a trend that broadly affects similar agreements across the industry.
Download the full article: Current issues running with contract rejections in oil gas cases
Publication
The Australian Securities and Investments Commission (ASIC) approved the Australian Banking Association’s (ABA) updated Banking Code of Practice (2025 Code)
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023