COMMITTEE ON THE JUDICIARY
UNITED STATES SENATE

ONE HUNDRED FIRST CONGRESS

FIRST SESSION

ON

S. 46

A BILL TO CLARIFY STANDARDS GOVERNING BANKRUPTCIES AND RE-
ORGANIZATIONS OF PUBLIC UTILITY COMPANIES UNDER TITLE 11 OF
THE UNITED STATES CODE

JULY 26, 1989

Serial No. J-101-34

Printed for the use of the Committee on the Judiciary

28-556

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON: 1990

For sale by the Superintendent of Documents, Congressional Sales Office
U.S. Government Printing Office, Washington, DC 20402

RONALD A. KLAIN, Chief Counsel

DIANA HUFFMAN, Staff Director
JEFFREY J. PECK, General Counsel

TERRY L. WOOTEN, Minority Chief Counsel and Staff Director

126
KF26
•J8376

19897

CONTENTS

STATEMENTS OF COMMITTEE MEMBERS

Page

1

5, 6

7

Heflin, Hon. Howell, a U.S. Senator from the State of Alabama...

Grassley, Hon. Charles E., a U.S. Senator from the State of Iowa

Thurmond, Hon. Strom, a U.S. Senator from the State of South Carolina...

Humphrey, Hon. Gordon, a U.S. Senator from the State of New Hampshire..... 7, 10

PROPOSED LEGISLATION

S. 46, a bill to clarify standards governing bankruptcies and reorganizations

of public utility companies under title 11 of the United States Code..........

CHRONOLOGICAL LIST OF WITNESSES

Hon. Warren B. Rudman, a U.S. Senator from the State of New Hampshire.

Panel consisting of John P. Arnold, attorney general, State of New Hamp-

shire, Concord, NH, accompanied by Larry Smuckler, assistant attorney

general, State of New Hampshire; Norman Stahl, Esq., Devine, Millimet,

Stahl & Branch, Manchester, NH; and Mark W. Vaughn, Esq., Devine,

Millimet, Stahl & Branch, Manchester, NH...

Richard Levin, Stutman, Treister & Glatt, Los Angeles, CA.

Panel consisting of James Monk, chairman, Indiana Utility Regulatory Com-

mission, Indianapolis, IN; Dan Borson, energy policy analyst, Public Citizen,

Washington, DC; Hon. Roger Whelan, Washington, DC, member, American

Bankruptcy Institute; and Leonard M. Rosen, New York, NY, chairman,

National Bankruptcy Conference.......

ALPHABETICAL LIST AND MATERIAL SUBMITTED

Arnold, John P.:

Testimony

Prepared statement

Responses to followup questions submitted by Senator Heflin

Attachment 1: Public Service Company of New Hampshire v. the

State of New Hampshire and the State of New Hampshire Public

Utilities Commission, memorandum of defendants in opposition to

motion for summary judgment as to preemption of State regulatory

laws....

Attachment 2: Public Service Company of New Hampshire v. State of

New Hampshire and State of New Hampshire Public Utilities Com-

mission, reply memorandum

BX83 16 no go

136

Attachment 3: Brief, submitted to the U.S. Court of Appeals, Ninth

Circuit, in the Matter of Reynolds; reprint from the Federal Re-

porter, 2d Series...

183

Borson, Dan: