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Appeals Liens Commercial Bankruptcy

Jones Day

Secured Lenders Win Victory in Sanchez Bankruptcy

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The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the "Ad Hoc Group") obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company's long-running, hard-fought bankruptcy case. Once...more

Troutman Pepper Locke

Navigating Jurisdictional Pitfalls: Lessons From Global One Media, Inc. v. Newtek Small Business Finance, LLC on Lien Filing...

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The Ninth Circuit Bankruptcy Appellate panel recently reaffirmed the longstanding principle that a UCC-1 financing statement securing personal property must be filed at the debtor’s location. In a recent case, the lender did...more

Goodwin

TPC Bankruptcy and District Court Opinions Uphold Uptiering Transaction and Teach an Important Lesson on the Need for Express...

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A recent U.S. District Court for the District of Delaware opinion, In re TPC Grp. Inc., provided another instance of an uptiering transaction withstanding legal scrutiny and provides further support for the view that courts...more

Stikeman Elliott LLP

The Manitok Energy Decision: Builders’ Lien Priority Rights Could Be Lost When Lands Are Subject to AER Abandonment Liability

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A recent appellate decision from Alberta, Manitok Energy Inc. (Re), marks another chapter in the developing caselaw surrounding environmental obligations in insolvency proceedings. In the decision, the Alberta Court of Appeal...more

Gray Reed

Wave Goodbye To Unenforcable Mineral Lien Waivers: The Houston Court Of Appeals Weighs In With Mesa V. Deep Energy

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The Fourteenth Court of Appeals in Houston recently issued an opinion that will have profound impacts on mineral liens and contractual provisions purporting to waive mineral liens. The question of whether or not a pre-work...more

Troutman Pepper Locke

A Win for Lenders: Seventh Circuit Finds UCC-1 Collateral Description Reference Sufficient

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In a win for lenders, on September 11, the U.S. Court of Appeals for the Seventh Circuit reversed the U.S. Bankruptcy Court for the Central District of Illinois, holding that the collateral description in the UCC-1 financing...more

ArentFox Schiff

In the Third Circuit, an Intercreditor Agreement Means What it Says

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The Plain Meaning Language of an Intercreditor Agreement Determines Whether it Governs Plan Distributions or Adequate Protection Payments - In a recent non-precedential opinion, the United States Court of Appeals for the...more

King & Spalding

Fifth Circuit Issues Decision Concerning Overriding Royalty Interests and Louisiana Oil Well Lien Act Claims

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The ATP Oil & Gas Corporation bankruptcy case (Case No. 4:12-bk-36187, S.D. Texas) (“ATP”) involved the intersection of energy and bankruptcy law on a variety of issues. Most recently, the Fifth Circuit Court of Appeals...more

A&O Shearman

(Make) Wholly Moly: U.S. Court of Appeals for the Second Circuit Upholds Ruling Denying Noteholders’ Entitlement to a Make-Whole...

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On October 20, 2017, the United States Court of Appeals for the Second Circuit issued a decision which, among other things, affirmed the lower courts’ holding that certain noteholders were not entitled to payment of a...more

Jones Day

Two Recent Decisions Demonstrate Continued Disagreement Over Whether Economic Value or Face Amount of Liens Is Appropriate Metric...

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The ability of a trustee or chapter 11 debtor in possession ("DIP") to sell bankruptcy estate assets "free and clear" of liens on the property under section 363(f) of the Bankruptcy Code has long been recognized as one of the...more

King & Spalding

Energy Newsletter - August 2017

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Practical Issues Under Joint Operating Agreements Relating to Withdrawals, Transfers and Changes in Control - In light of their long term objectives and potential future transactions, parties should consider the...more

King & Spalding

Third Circuit Rules Make-Whole Provisions Enforceable in the Energy Future Bankruptcy

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On November 17, the U.S. Court of Appeals for the Third Circuit (the “Court”) made clear its stance on the question of enforceability of make-whole provisions in bankruptcy. Bucking the recent trend seen in cases such as In...more

Cozen O'Connor

Third Circuit Court of Appeals Upholds Carrier’s “Extended” Maritime Possessory Liens

Cozen O'Connor on

Summary of Holding - In a recent opinion, in a case of first impression at the circuit level, the U.S. Court of Appeals for the Third Circuit held that maritime carriers and their customers may contractually extend the...more

Gray Reed

Subcontractors Score a Victory in Federal Court

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On August 27, in In re Heritage Consolidated, L.L.C., the Fifth Circuit Court of Appeals granted subcontractor’s lien rights to two oil and gas drilling contractors. The Court reversed a district court ruling which upheld a...more

Blank Rome LLP

Transformation of Tort Claim into Different Type of Collateral Did Not Give Secured Creditor a Lien

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An October 2011 decision from the United States District Court for the Northern District of New York highlights the importance of correctly taking all of the steps necessary to obtain a security interest in commercial tort...more

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