On December 20, 2019, Judge Marvin Isgur of the United States Bankruptcy Court for the Southern District of Texas became the second court this year to limit the reasoning of In re Sabine Oil & Gas Corp., 550 B.R. 59 (Bankr....more
The U.S. District Court for the Eastern District of Louisiana dismissed a Chapter 7 bankruptcy trustee’s claims against officers and inside directors of ATP Oil & Gas Corporation in Tow v. Bulmahn on Wednesday.
In Tow v....more
With U.S. oil and gas prices dipping low over the past year and a half, a large number of companies have declared bankruptcy. In the next year and a half, it is forecasted that more companies who are limping along, may seek...more
A long-honored concept in real property, that of “covenants running with the land,” is finding its way into the bankruptcy courts. If a covenant (a promise) runs with the land then it burdens or benefits particular real...more
We are often asked what to do if you have an operating agreement and your operator or one of the other working interest owners files for bankruptcy. The Bankruptcy Code allows the debtor to assume or reject the JOA (it is...more