After a Georgia-based natural gas marketing company lost a key contract with a supplier, it was forced to enter bankruptcy proceedings and sell most of its assets to a rival. The procedure has involved nearly two-dozen Atlanta-area attorneys who work in a broad range of practice areas.
Catalyst Natural Gas LLC, of Atlanta, filed for Chapter 11 protection on Oct. 1 in U.S. Bankruptcy Court for the Northern District of Georgia. Catalyst served 34,000 natural gas customers in Georgia. Catalyst said in a court filing that on Sept. 26, Constellation Energy Commodities Group Inc. terminated its “international swaps and derivatives association master agreement” with Catalyst. The cancellation of that agreement, Catalyst said, prevented it from supplying gas to its commercial and residential customers.
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