A district court judge in the Middle District of Pennsylvania recently vacated a bankruptcy court’s decision allowing rejection of an oil and gas lease under section 365 of the Bankruptcy Code. The District Court held that a debtor’s oil and gas lease was a conveyance of an interest in real property and not an executory contract or unexpired lease that could be rejected in bankruptcy under Section 365 of the Bankruptcy Code.
USA, Pennsylvania, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Real Estate, Squire Patton Boggs, Debtor in possession, United States bankruptcy court