We discussed in the March 2020 edition of the Texas Bar Journal1 the bankruptcy court ruling by Judge Craig A. Gargotta of San Antonio in In Re First River Energy LLC that oil and gas producers in Texas do not hold perfected security interests in oil and gas well proceeds, notwithstanding the Texas Legislature’s efforts to protect producers and royalty owners following the downturn in the 1980s. The Fifth Circuit recently reaffirmed Judge Gargotta’s decision.
USA, Oklahoma, Texas, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Haynes and Boone LLP
A federal court jury in Manhattan returned verdicts on Monday, November 12, largely exonerating the two most senior Reserve Management Company executives in a Securities and Exchange Commission enforcement action accusing them of fraud.
USA, Capital Markets, Insolvency & Restructuring, Litigation, White Collar Crime, Orrick, Herrington & Sutcliffe LLP, Fraud, Negligence, Net asset value, US Securities and Exchange Commission, Lehman Brothers