In its opinion in LTF Real Estate Company, INc. v. Expert South Tulsa, LLC (In re Expert South Tulsa), 2014 WL 6845675 (10thCir.
Today’s blog article, which looks at the treatment of specific oil and gas property interests in the bankruptcy context, is the second in the Weil Bankruptcy Blog series, “Drilling Down,” where we review issues at the intersection of the oil and gas industry and bankruptcy law.
In the United States Bankruptcy Court for the District of Delaware, the bankruptcy court dismissed a chapter 11 case for bad faith, relying in part on an email sent by someone other than the debtor relaying to his employees and sales representatives his conversation with the debtor’s chief executive officer. This decision serves as a reminder to debtor lawyers how imperative it is to review with your client what it is saying both privately and publicly about its bankruptcy case. Because even in bankruptcy court, anything you say can and will be used against you.
“The past can’t hurt you anymore, not unless you let it.” – Alan Moore, V for Vendetta
Baker Botts L.L.P. et al. v. ASARCO L.L.C., currently pending before the Supreme Court of the United States, is of particular interest to bankruptcy practitioners because this decision will have far-reaching effects regarding attorney’s fees in bankruptcy. Specifically, the Supreme Court will determine whether Section 330(a) of the Bankruptcy Code grants bankruptcy judges the discretion to award compensation for the defense of fee applications.
In a recent decision by the Second Circuit, Lucas v. Dynegy Inc. (In re Dynegy, Inc.), No. 13-2581 (2d. Cir. Oct.
Put your lender’s hat on. Wouldn’t it be great if you could prevent your borrower from filing bankruptcy in the first place? Unfortunately for lenders, a recent decision demonstrates how hard it is to prevent bankruptcy filings.
The following article was written by Kenneth R. Epstein and Nelly Almeida and originally published in the December 8, 2014 edition of the New York Law Journal. Kenneth Epstein is the Managing Director of the Insured Portfolio Management Special Situations Group at MBIA Insurance Corporation. A link to the journal can be found here.”
The Fifth Circuit recently dealt with the interplay of bankruptcy and oil and gas liens in the case of In Re: T.S.C. Seiber Services, L.C., decided November 3, 2014.